If you need emergency cash to help a family member, you may be unsure where to begin. The food news is that there are many avenues that you can look into, depending on the kind of emergency that you are trying to help with.
From something as simple as a short term or long term loan, using a credit card, or looking into the proper assistance programs to provide your family member with the cash assistance they need. Below you will find more information on the different resources that may be available to you when you need emergency cash to help a family member.
Looking into a Loan for Emergency Cash to Help a Family Member
Getting a loan can be a fast solution to get the financial assistance needed, and then help a family member/loved one with it. Here are a few loan types that work well for emergencies:
- Car Title Loans —car title loans, also known as title loans or auto title loans, are a secured loan. A secured loan uses an asset as collateral, in this case, the asset is the borrower’s vehicle. In most cases, the borrower can keep and drive their vehicle while they pay the loan back. Because these loans involve an asset, they tend to be extremely quick, and once approved the borrower can get their funds as soon as the next business day.
- Credit Cards — If you already have a credit card, you may be able to use it to get a cash advance.
- Payday Loans —Payday loans are secured with the borrower’s paycheck. These are generally short term loans that can work for a few hundred dollars in emergency funds.
- Personal Loans —personal loans are some more common loans out there, and can come with a variety of repayment terms, and loan amounts. In most cases, you will need to have a fair or good credit score. You can apply for personal loans online, at a bank, or a credit union.
COVID 19/Coronavirus Assistance Programs / Emergency Assistance to Look Into
Because of the pandemic, there are assistance programs that can help a large demographic of people, and may provide help for your family member or loved one:
- Loans and Credit Card Relief for COVID 19 many credit card companies and lenders have provided options like extensions, deferment, lowered interest rates, and various payment options.
- The CARES Act: Stimulus Package for COVID 19 Relief the CARES Act provided emergency cash assistance to families with children, individuals, low-income households, and businesses in financial need, due to the financial crises the pandemic has brought on. The act can also help with monthly bills and other living expenses.
- Help from Government Agencies
What if Your Family Member Has Lost Their Job?
If your family member or loved one hasn’t already filed for unemployment benefits, they should right away. The sooner they apply, the sooner they can find eligibility. In some cases, they may not even need help from others to make ends meet. There are all kinds of resources from the state that can help them find secure unemployment in a timely manner.
Also, if possible, they may want to consider getting a side job like food delivery, grocery shopping, or ridesharing to keep some income coming in.
Getting Emergency Cash for Medical Bills
When a loved one is struggling to pay medical bills, there are a few things that can lessen the financial hardship:
- Payment programs through the clinic/hospital/dental office
- Look to nonprofits/assistance programs for your financial situations
- Ask about CareCredit
- Find Local Community Clinic or Schools
- Local social service agencies
- Temporary assistance for needy families
In addition to medical emergencies for people, healthcare for animals/pet care is similar in this regard.
Helping a Family Member Pay for Their Living Expenses:
Here are a few government assistance programs for those families who are struggling:
- Supplemental Nutrition Assistance Program (SNAP)
- Special Supplemental Food Program for Women, Infants, and Children (WIC)
- Child Nutrition Program
- Supplemental Security Income (SSI)
Getting Cash to Help a Family Member with Their Rent or Mortgage
If your family member is a homeowner or even a renter, the good news is that there are many state and federal programs that can help.
The major one that you’ll likely come across will be The Department of Housing and Urban Development (HUD). HUD can help with all kinds of demographics who are struggling to pay their mortgages or rent payments.
HUD also provides resources that can help people refinance an existing mortgage, get started or transfer to FHA loans, and provide natural disaster relief, just to name a few.
It may be helpful to look into refinancing a mortgage or temporary assistance for needy families if the family member is having trouble paying their mortgage, utility bills, property taxes, etc.
Getting Emergency Cash to Help a Family Member after a Natural Disaster
If your loved one is facing financial hardship after a natural disaster, FEMA could help. In many cases, nonprofits are organizations that usually step up for help after a natural disaster.
Providing Emergency Cash Through Your Savings Account
If you have a safety net, you may be able to lend money to a family member or loved one. Keep in mind that keeping your savings account is extremely important for your personal finances. Only provide those funds from savings if it lets you remain comfortable.
If your loved one or family member needs emergency cash, you can help. There are loan options you can look at, or even consider giving or letting them borrow funds from your savings. Government agencies, non-profits, and low-cost solutions can all be exactly what your family member needs to make ends meet.
Get in Touch with Max Cash Title Loans Today
If you are looking for a loan, consider Max Cash Title Loans, the #1 national title loan marketplace. We make the title loan process simple and fast. To get the process started, head to our website and apply for a title loan or give us a call at 1 855 561 5626.