Are you in need of some cash and you need it in a hurry? Has there been an emergency or something else that requires you to come up with some quick money? There are such a thing as immediate signature loans that can provide you with between $100 and $1,500 in a hurry. Here are some options for these loans.
First, you can get the money wired to you and fill out all the paperwork online. This will require you to give some basic information and your income in order to qualify. For larger amounts they may ask you to fax in paycheck stubs, tax forms, a voided check, and a copy of your photo id, but this can all be done in the same day from a Kinko’s or another place that will send out faxes for you.
Second, you can go to a local lender that does signature loans. They are usually the same places that will wire money and cash checks for you. Just about every area of the country has at least one of these locations. Be prepared to take in your photo identification, a recent paycheck stub, proof of your address, and your check book. They will lend you money on the spot and it only takes about a half hour to get approved.
Last, you can get immediate signature loans from a pawn broker. They usually do these types of loans on a very short term basis and expect to be repaid very quickly. They work a little bit like a legal loan shark, but you do not have to worry about bodily harm if you cannot pay them on time. You just have to worry about a very high interest rate that will cost you an arm and a leg.
By: Gressly Stevens
Posts Tagged: High Interest Rate
30
Oct 09
Immediate Signature Loans – Do You Need Cash Fast?
6
Jul 09
Risks of a Car Title Loan
If you need fast cash and own a car, you may consider a car title loan. While this may seem like a quick fix to your money problems, this too-good-to-be-true solution has its share of problems. These are the disadvantages of a car title loan:
High interest
Lenders often charge triple digit annual percentage interest rates in the case of car title loans. Thus, before applying for the loan, make sure you have the realistic ability to repay it.
High fees
Not only does a car title loan have a high interest rate, it usually also includes other fees that can quickly add up to more than you want to spend. These could include fees for processing documents, late payments, roadside assistance, and lien. In addition, even though it is illegal, some lenders also charge a repossession fee. Pay attention to the fine print and understand the terms of the agreement before signing.
Car as collateral
Receiving a car title loan is as easy as handing in the car title and giving up an extra set of keys. Do not be misled by the quick money, however. The bottom line is that if you default on your loan, you lose your car. This is a risk which you cannot afford to take.
Short repayment period
A car title loan is a short-term loan with a typical repayment period ranging from two weeks to 30 days. Since the interest rate is high and most of the borrowers are from a low-income bracket, often people do not pay back the loan in the 30-day timeframe. In this case, the loan is rolled over to the next month and the interest rate is hiked up. This cycle keeps the borrower in debt.
Other alternatives
If you think that a car title loan is the only loan option, think again. Other ways exist, such as taking a short-term, low interest loan from a local credit union, asking your employer for a cash advance, or looking into the possibility of emergency community assistance or small consumer loans. Though admittedly not an attractive option, you could consider asking your family or friends for help.
It is important to remember that your financial troubles are temporary. Thinking realistically will enable you to come up with smarter ways to raise finance without increasing your debt.
By: Alisha Delphi