5 Methods to Avail Cash during a Financial Emergency

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5 Methods to Avail Cash During a Financial
Emergency!
When you're in a financial bind, getting cash as
soon as possible is critical. Depending on your
circumstances, you might already have choices. If
not, knowing where to look will help you stop
high-interest and predatory loans.
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Here are five ways to get an emergency loan
online when you need it to help you get started
on your quest.
1. Emergency Loans

• A personal loan, a credit card cash advance or a
  revolving loan is all examples of emergency
  loans. If you're thinking of using one of these
  services, you should understand how they function
  and how much you should expect to pay.
• . Personal Loans
• Personal loans are a type of credit that can be
  used for almost anything, even emergencies. Many
  personal lenders, especially online-only lenders,
  offer next-day or even same-day funding if you're
  approved. Others can require an extra day or two,
  requiring you to make alternate arrangements in
  the meantime.

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• Cash Advances with a Credit Card
• Interest rates on credit card cash advances
  differ by card, but some can hit as high as 25.
  
• Getting a Payday Loan
• Payday loans are short-term loans with exorbitant
  interest rates and concise repayment periods
  (typically 14 days). The average annual
  percentage rate (APR) is about 400 per cent, and
  the quick payment turnaround will make it
  extremely difficult to pay off the loan without
  taking out a new one. As a result, payday loans
  should be avoided at all costs.

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• 2. Family members or friends
• You may be able to get some help from reliable
  friends or family members in your time of need if
  you have them. Of course, asking loved ones for
  money or a loan is a difficult decision that
  should not be taken lightly.
• 3. Credit Cards of 0 APR
• If you have decent or excellent credit, you could
  be eligible for a credit card with a zero per
  cent promotional APR bid. You may use it for
  emergency expenses and have anywhere from six to
  twenty months to pay it off interest-free,
  depending on the card.

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• 4. Home Equity Line of Credit (HELOC)
• A home equity line of credit (HELOC) is a
  revolving line of credit backed by your home's
  equity. If you already have one, accessing it can
  be as easy as writing a check or using the debit
  card associated with it.
• Since they're backed by collateral, HELOCs
  typically have interest rates in the single
  digits. The disadvantage is that a new HELOC may
  take several weeks to close if you don't already
  have one, which might not be ideal in an
  emergency.
• 5. Seek assistance from nonprofit organizations
• Nonprofit organizations may be able to assist you
  in obtaining the funds you need. Organizations
  such as Mission Asset Fund, for example, organize
  lending circles with other group members.

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Conclusion

• Continue to check your credit score while you
  focus on planning for any financial crises,
  including improving your credit score, on
  ensuring you don't get any unpleasant surprises.
  Check your credit reports to see what could have
  caused the drop in your score and look for ways
  to improve it to get an emergency loan in India.

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