It’s an emergency! You need a cash loan immediately. Where do you turn?
This frequent scenario may just be a sign of the times or perhaps the need for a cash loan is brought on by a recently job layoff or a simple reduction in hours. Medical issues, family problems and other unexpected expenses can also create the stress of needing a cash loan now.
Immediate Cash Loan
The bottom line is that without an immediate cash loan, many individuals and families may face eviction or foreclosure, utility shut off, loss of insurance coverage and many other unpleasant consequences of a cash crisis.
In other cases, a cash loan may not be required to avoid potential disaster, but can make good sense as a money saving measure. For example, bank overdraft fees can add up rather quickly. Consider that a single bounced check may create a cascade of additional overdrafts. Beyond that, not only does the bank charge a fee for each overdraft, but the payee (e.g. store, credit card, utility etc.) will almost always have a returned check fee as well. In addition, because the check payment was rejected, the account could well wind up late and be subject to late fees.
cash loan could mean hundreds of dollars in actual savings
It is easy to see how a cash loan could mean hundreds of dollars in actual savings. Just two bounced checks with a bank overdraft fee of $25 each and a payee returned item fee of $25 each, plus a $35 late fee add up to $170! So then a quick cash loan can be of great help in avoiding multiple overdraft charges as well as late fees.
Certainly there is a multitude of options for one seeking a cash loan. Unfortunately, many of these cash loans are not available to those most in need. Bad credit, income requirements, work history, the lack of an established banking relationship and other factors can create obstacles that make it virtually impossible for many to qualify. But there are alternative cash loans.
Alternative cash loans
Alternative cash loans are almost always more easily obtainable than a regular cash loan. A major advantage of these products is that they are also fast in process. In fact, most borrowers can apply for, and get a cash loan the same day. Many cash loan institutions will not even examine an applicant’s credit score, preferring instead to rely on the loans collateral as the foremost consideration. Such is the case with some car title loan lenders. One is able to borrower against the equity in their vehicle with little wait and only a small amount of paperwork to satisfy the cash loan requirements.