Even a small unexpected expense could leave you with no emergency cash till payday! If you can’t make ends meet this month, a payday advance or payday loan from direct lenders may be on your mind. But there are many different alternative options to look at. Finding the best loan for your financial situation can help your wallet in the long run!
If you aren’t sure of how to get emergency cash until payday, consider Max Cash Title Loans for help. Applying can take just minutes with an online title loan application!1 If approved, you could get your cash in as little as one business day.1 2 5
To learn more about how to get emergency cash till payday, keep reading below!
How Do Payday Loans and Payday Advances Work?
Payday loans, or payday advances are short term loans that can get you emergency cash until the next payday. The lender often charges a fee, which can vary by state.
For example, a loan amount of $100 with a payday loan could mean a transaction fee of $20 per $100. The loan amount that most online payday loan lenders will give is anywhere from $100- $500.
Payday loans are fast, and some borrowers can get their cash the next business day. Most payday lenders do not require a credit check! To get approved, borrowers will just need to show a bank account in good standing, and a means of income.
What are The Cons of Payday Loans?
While payday loans can mean emergency cash despite bad credit, there are some cons to consider. The repayment process for a payday loan can be tough! While many direct lenders won’t consider your credit score, they will want repayment in a short amount of time. Some payday loan lenders will only give you two weeks to repay your loan. While others may expect repayment the next payday.
If you are struggling financially and you cannot pay back by your next paycheck, this could really set back your finances. Additionally, there can be late fees attached to your loan.
Late payments from a direct lender could lead you into more fees. And sometimes even to a collection agency, hurting your finances even more.
The Bottom Line with Payday Loans
The annual percentage rate for most payday loans is very high, which means you will need to pay back even more in a short amount of time. If you need a long-term loan and a short-term loan isn’t helpful, it’s best to find another solution. High interest rates can be harmful if you have any emergency expenses to consider!
A Credit Card Cash Advance Could Help Get Emergency Cash till Payday
Another alternative loan option to consider is a cash advance. Cash advances can allow cardholders to borrow off of their line of credit. This can be an easy way to get quick cash if you already have a credit card provider. As you will not need to do a new credit check for an online loan application.
Simply visit an ATM or online and request a cash advance! If you have any available credit, this can be easy to do.
With a credit card cash advance, you may want to consider your card issuers interest rates. If they are high, they may be even higher for a cash advance! Be sure to pay your cash advance right away, as the interest will start to accrue ASAP. If you do not pay off the full balance within the month, the interest rate can make the repayment process difficult. This could hurt your credit score in the long run! Credit bureaus will look at your available credit, as it weighs into your credit score.
Another option to consider is a cash advance from your employer. Your employer may be able to give you a payday advance in emergency situations. It may not be beneficial to your career if your employer knows that you are having money troubles, however.
How to Get Emergency Cash Without a Credit Check
If you need emergency cash but you aren’t sure if you can pass a credit check, payday loans and cash advances are your best option. Payday loans will often not require a credit check to get approval. What they will require, however, is a bank account not in the negative, and a steady stream of income each month.
Other loans, such as personal loans will require you to have good standing credit in order for loan approval.
Most traditional loans will require a credit. Credit checks exist as a means of security for the lender.
Do I Need Good Credit to Get an Emergency Loan Like a Title Loan?
Title loans are a unique type of installment loan. They were designed to help those with bad credit or low credit scores get funding!
Since title loans are secured with collateral, they are flexible in the approval process. Depending on the lender, title loans can be long term or short-term loan options. Your collateral for a title loan will be the title of your vehicle.
In the approval process, a direct lender will look at these factors, rather than credit history:
- The Value of your Vehicle
- Your Income
- Your Ability to Repay the Loan
How Can Max Cash Title Loans Connect Me to an Emergency Loan?
Having a financial emergency can be stressful for anyone. When you’re in need of emergency cash till payday, it can be simpler than you think to get help!
Traditional loan lenders may turn you down if your credit score is not excellent. However, many title loan lenders can be flexible during the approval process.
People of all financial backgrounds could need a title loan! Each financial situation is different, and every borrower will have different financial needs. Whether you have a need to pay medical bills this month or an upcoming purchase soon, a title loan can help.
That’s where Max Cash Title Loans can help make your life easier. Max Cash Title Loans can connect you to lenders all across the United States. 5
We are open seven days a week to help borrowers like yourself find the right loan for their financial needs. 5 Getting started is easy! Go online and fill out a short inquiry form by answering a few questions. Or, borrowers can apply by calling one of our representatives any day of the week. Don’t let unexpected expenses hold you back- get the emergency cash you need today!