Have you found yourself in need of emergency cash during a job loss, but are having difficulty finding it? A title loan might be a good option for emergency cash after a job loss. Max Cash® Title Loans is one of the premier resources for finding an auto title creditor.
An emergency cash fund is an important part of financial planning. Not only can an emergency fund/cash reserve mean staying out of debt, but it can also mean peace of mind. For those who have never had emergency savings, or a savings account, it may be a little confusing where to begin. Getting started with an emergency cash fund can be simple!
However, because there are so many ways to save during different life stages, it will be important to find a savings plan that will work for you.
Goals for your Emergency Savings
Your emergency cash kit will be different than your emergency fund in a bank account.
Your emergency fund in your bank, however, is a little different. This fund should be able to provide you with a safety net in the event that disaster strikes, and you need money for healthcare or living expenses.
To build up your emergency fund, consider having all of your family members chip in a small percentage of their paychecks or allowance. Take your own paycheck and dedicate a portion of it towards your emergency fund. Financial experts say that 10% of your paycheck should be dedicated towards your savings fund, or an emergency cash kit. If you are paid on a biweekly basis, dedicate a small portion towards your emergency fund for a cash reserve.
If you are able to, cut out the non-necessities. Try converting your habits into more frugal ones, it can save you an upwards of hundreds of dollars each year to do this!
With these tips, you may be able to build your emergency cash reserve slowly and have a reserve to rely on in times of a crisis.
What is Emergency Cash Disbursement?
Emergency cash disbursement is a service that many credit card companies such as Visa or Mastercard offer to their customers. Similar to a cash advance, cardholders can have an emergency cash advance provided to them within one business day. In some instances, the emergency cash benefit can be provided in less than 24 hours.
This is a great card benefit for many reasons. Most notably, this is particularly useful when a cardholder loses his or her Visa card or if they report a stolen card. All the Visa cardholders would need to do is contact their credit card account service provider to alert them of the situation. From there, the Visa representative can issue a new card.
This service is also useful when a cardholder is traveling and accidentally misplaces their card. Whether you are traveling domestically or globally, if you are in need of cash and don’t have a debit card or access to an ATM, an emergency cash disbursement is typically available to you.
With an emergency cash disbursement, a cardholder would no longer need to stress over paying for living expenses while they wait for an emergency card replacement or the stolen card reporting process to complete. All the customers would need to do is call their card company’s emergency assistance service or global customer assistance service to start the process.
What if My Credit Card Company Doesn’t Offer an Emergency Cash Disbursement?
If your credit card company doesn’t offer an emergency cash disbursement service or something similar, there are other alternatives that may be available to you. If you find yourself in this situation, an auto title loan may be precisely what you need.
A car title loan is a great loan alternative for several types of customers. Often referred to as a title pawn, title loans are a secure loan that uses a consumer’s vehicle as collateral for a loan amount. To determine your loan amount, the value of your vehicle, and the consumer’s ability to repay the loan will be considered during the approval process.
By placing a lien on the vehicle, the direct lender essentially has ownership of the vehicle during the loan term. However, one of the great benefits of choosing a title loan is that you are able to continue driving the vehicle just as you normally would. As soon as you pay back the title loan in full, the lender will remove their name from the title, and the vehicle is yours again.
Now that you understand how a title loan works let’s take a look at what you will need to provide a title loan service during the application process.
Look for Government Assistance If You Need Emergency Cash After Being Laid Off
If you are facing a job loss, the most helpful resource is going to be your state’s unemployment resources. As soon as your full time employment changes, let them know about your layoff, and apply for unemployment benefits. The process is fast and can be complete either online or over the phone. They will let you know fairly quickly if you are eligible for unemployment benefits.
Because of the pandemic, the CARES Act provided by the federal government has created additional resources to individuals, families, first time or experienced homeowners who are having trouble making their mortgage payments and small or large businesses. The department of labor can also help if you are facing job loss so make sure to look into those government agencies as well.
Also if you lay off impacts your health care coverage, you can look into low cost health insurance like Medicaid or Medicare.
Student loan payments have all been put on pause, and there is no interest until December, so you don’t have to focus on the nonessentials.
Here’s a quick look at some services this program can help you with:
- Food
- Health Insurance
- Housing
- Utilities and other basic necessities
Unemployment Benefits
If you have recently lost your job or lost income at your place of work, unemployment benefits are another program to look into. Here, you will find several financial assistance and benefit programs to assist you if you’ve lost work.
Before applying, users will need to meet state and local government eligibility requirements. If you meet the eligibility and work requirements, you can then apply via their online portal or by phone and in-person appointment. Additionally, in-person appointments may vary depending on COVID-19/Coronavirus health policies and mandates.
Furthermore, some governments provide extended benefits during instances of high unemployment. Additionally, applicants who receive unemployment benefits will also need to report benefits as earnings in their tax return for that year.
Temporary Assistance for Needy Families (TANF)
Temporary Support for Needy Families (TANF) is an emergency cash benefits program that is overseen by federal and state governments. This financial assistance program helps families achieve independence after experiencing temporary financial problems.
Furthermore, each state government has its TANF program, and determinations and qualifications may vary. To apply for TANF benefits, applicants can apply at their local government agency office or may apply over the phone. Additionally, applicants must be a resident of this state in which they are applying.
TANF recipients may qualify for help with the following:
- Food
- Housing
- Home Energy
- Child Care
- Child Support
- Job Training
Additional Types of Assistance Programs
Job Training
Federal government agencies provide several types of unemployment training programs. Typically, these programs are free of charge or of very low cost.
Self-Employment Help
Federal government agencies also offer self-employment assistance programs to assist jobless individuals in starting their own small businesses. Currently, Delaware, Mississippi, New Hampshire, New York, and Oregon provide this program for their residents.
Supplemental Nutrition Assistance Program (SNAP)
Formerly known as food stamps, the Supplemental Nutrition Assistance Program (SNAP) is a national nutrition program. SNAP benefits are available to help low-income individuals pay for food.
If you qualify for SNAP benefits, you can to purchase many foods, such as:
- Fruits and Vegetables
- Meat, Poultry, and Fish
- Dairy Products
- Bread and Cereals
To view a full listing of food products you can purchase with SNAP benefits, view the United States Department of Agriculture’s (USDA) website.
Applicants looking to apply for SNAP benefits will need to meet specific requirements. States and local government agencies often have income limitations for SNAP recipients. Additionally, assets may also be used to determine if you are eligible.
Medicaid
Medicaid is a state and federal medical insurance program for low-income individuals.
Here’s a brief overview of applicants who may be eligible for Medicaid:
- Low-income adults
- Dependent Children
- Pregnant women
- Individuals who 65 years of age and older
- Individuals with disabilities
Medicaid applicants must also be residents of the state where they are applying for benefits. Also, applicants may fill out an application through their local government’s health insurance marketplace.
To verify if you are eligible for Medicaid, check with your local government’s Medicaid office.
Children’s Health Insurance Program (CHIP)
Like Medicaid, the Children’s Health Insurance Program (CHIP) is a government program that was created to provide health coverage for children.
To qualify for CHIP, the child’s family must have an income that is:
- Too high to qualify for Medicaid
- Unable to afford private health insurance coverage
COVID-19 Emergency Cash Benefits
With the onset of COVID-19/Coronavirus, the Department Of Human Services (DHS) announced that the Emergency Assistance Program (EAP) would move to assist low-income households who lost income or are experiencing financial challenges due to the COVID-19 health pandemic. Families that qualify for the assistance program will be eligible for a one-time emergency cash payment that will help them fulfill basic needs. Additionally, emergency cash assistance may be used to help them secure a more stable financial standing. Furthermore, the new program will use existing funds from the Temporary Assistance for Needy Families (TANF) program to provide support to low-income households who qualify.
To qualify, households must have a minimum of one individual in the family who was employed prior to March 11, 2020, and has experienced a 50 percent decrease in hours worked or wage earned for more than two weeks or is no longer employed. Additionally, families must also meet income limitations of 150 percent of Federal Poverty Guidelines and not have greater than $1,000 in a savings or checking account.
If the household qualifies, a one-time grant equivalent to two weeks of TANF benefits will be issued. The average monthly grant for a family of three (3) is $403. Therefore, a qualifying household of three could be given a one-time grant of $806. Money through this program will be issued via an electronic benefit transfer card, otherwise known as an EBT card.
To inquire about your eligibility, please visit the official website of your local government agency.
Max Cash Title Loans can get you emergency cash fast!
At Max Cash Title Loans, experience counts, especially when you need emergency cash fast on an auto title loan. With lenders across America and each requiring different things, if we can’t get you funded, no-one can.
We have specially trained staff members who have one priority− to get you the auto title loan for the emergency cash you may need. While this is not always possible, it is what we strive for at Max cash Title Loans.
When getting emergency cash fast, we do our best with the staff we have at Max Cash Title Loans. When you answer the phone, you can expect to talk with a representative that has experience and understanding with title loans. They will work with you and answer any questions or concerns you may have. When it comes to getting emergency cash fast, expect Max Cash Title Loans to deliver good service.
The best part about all of this is that their work and speedy service for you will not cost you a penny! Nothing. It’s free to use and they work 7 days a week and late-night hours, even when the lenders are already asleep. But there is only so many workers who can get people the emergency cash they need from an auto title loan lender.
To get your emergency cash fast, what we require from you is that you will work closely in those 72 hours with this financial advocate to get documents together for the lender. You will stay in contact with your advocate. Here at Max Cash Title Loans, we created our business around you to give you a better option for your auto title loan needs.
We at Max Cash Title Loans have re-defined the lending process and made it much easier for you to get your auto title loan and get the emergency that you need. We take the guess work out of who a quality auto title loan lender is and know that interest rates really do make a difference. We have simplified the process of getting title loans nationwide.
We have done the research and hard work for you and have found the better lenders with the best title loans. Use our network and let us prove to you that getting an auto title loan through Max Cash Title Loans is the better option for that emergency cash you need fast!
Requirements to Apply for a Title Loan
When it comes time to get ready to apply for an auto title loan, you’ll have to have some files and things available to upload online. To help determine your loan eligibility, you need to meet these qualifications and have some records:
- Be at least 18 years old
- Proof of monthly income
- Government-issued photo id
- Social security card (or a document with your social security number)
- A few private and/or professional references
- Own a car that is entirely (or almost) paid off
- Clean and free title for your car or truck
- Current vehicle insurance
Applying with Max Cash Title Loans
Max Cash Title Loans has a loan process that is easy, secure, and fast. That way, you can get the emergency cash assistance you require.
The entire application process is meant to be complete on the same or once the next business day! Here’s what you will need to do:
Complete and submit an online application form
After submitting this application, you may hear from one of our loan representatives to allow you to know if you’ve got pre-approval.
If you’re a strong candidate for an auto title loan, we’ll help you find a personal finance lender.5 We have connections with some best title loan companies, we’ll get the ideal match for you!
Get approval
When you receive approval for an auto title loan, you and your lender will talk about personal loan provisions.
During the approval process, you will learn your loan length, amount, rate of interest, and your monthly payment program.
Next, you will sign your loan agreement.
Get your fast cash
Once you sign your loan agreement, all that is left to do is get your money!
If you prefer to stay home, you have the choice to have the cash securely deposited into your bank account.
This means you could complete the process on the same day you apply or the following business day.
Call Max Cash Title Loans Today
Max Cash Title Loans wants to help you get emergency cash during a job loss.
We can help clients locate the online title loans that they need, without needing a vehicle inspection.5 What are you waiting for? Contact us today to apply for an online title loan on our website and get enough money to help you get through today!2 5