If you are in desperate need of money, we may be able to help. Even if you have bad credit, we may be able to assist you in getting a loan offer. Get started now by selecting how much money that you need.
Money Help When You Are Desperate
Believe it or not, you probably have more options than you think when it comes to getting money. Take a minute and look at some loan and non loan options that just might be able to solve your problem. Depending on how much you intend to borrow and your qualifications, one of our lenders may offer you any one of these loan types.
First, let’s look at your loan options. Loans, even if you have bad credit are usually one of the easiest ways to get money in a hurry. With bad credit, your options are of course a bit more limited, but you do have some, take a look.
This is the classic bad credit loan. With this type of loan, lenders typically charge fees, not interest. An example of a fee might be something like $20 for every $100 borrowed. That means that if you borrow 300 dollars, you would pay back $360.
On the surface, this might not seem that bad, but if you look at the short loan term, the effective APR can be quite high. You see, these loans are due on your next payday, so most loans are for 10 to 14 days.
The good thing about these loans is that they are easy to qualify for. If you have a source of income and a checking account, you are well on your way to getting an approval.
The bad things of course are the high fees and the short loan term. Both can make it difficult to get back on track financially, but sometimes you have to do what you have to do.
An installment loan is just what it sounds like. A loan that you can pay back with installments. Although you generally need a bit more credit to qualify than you do with a payday loan, you can still get one of these with bad credit. Installment loans will have interest and they also may have fees involved, so read all of the fine print.
The good part of an installment loan is that you will have more time to pay the money back. Depending on how much you borrow, making one lump sum payment could be difficult. An installment loan could solve this problem.
The negative of using this type of loan when you need money desperately is that the interest rate can be high. With bad credit, you are likely to be offered some unpleasant terms and, since you will be paying on the loan longer, interest will be adding up for a longer period.
A title loan is a secured loan because you will put up your free and clear vehicle title as collateral. If you fail to pay the loan back, your lender could take your vehicle. More often than not, they would choose to extend the loan over seizing your vehicle, but it remains an option for them.
The good with a title loan is that the loan is easy to qualify for. It is a secured loan for a lender, so they are more likely to approve someone with bad credit. In addition, they are legal in more states than the payday loan and you can take them out in higher dollar amounts.
The bad thing about a title loan is that it still has high fees and interest. Despite being a secured loan, these loans can have an APR that comes close to that of a payday loan. On top of this, you also have the very real possibility of losing your vehicle, so use caution, even if you desperately need money fast.
Pawn Shop Loans
If you only need a bit of money, this might be an option to consider if you have bad credit. This is also a secured loan but you are placing physical property in the hands of the lender. You borrow money and when you pay it back, plus fees and interest, you get your stuff back.
This is an easy loan to qualify for because it is a low dollar loan and it is secured. If you default, the lender gets to keep your property and they have the store where they can sell it. That makes it very low risk for them. If you are desperate for money and you just need a few bucks, this is a fast way to get it.
The chief negative with a pawn loan is that it is usually for a low dollar amount of around one hundred dollars or less. This is because you are limited by the value of the property that you pawn. In addition, the loan still has rather high costs. The pawn shop will charge you a document fee, storage fee and interest. It can add up.
These days, there are a number of loans available through apps such as Earnin or Brigit. These apps take into account money that you have already earned and issues you a loan. You then pay back the loan usually automatically, when you get paid again. Fees for these apps will vary but some of them do not require fees to be paid, just a suggested tip.
The good thing about these apps is that they allow you to use the credit from money that you have already earned. In addition, because you will link them to your bank, you will be able to get to the money quickly.
On the downside, you have to jump through a lot of hoops with many of the apps, so you may not qualify. Also, the suggested tip on some of them can be as high as the fees on a payday loan. You may not have to tip, but if you never tip, you will probably eventually lose access.
Credit Card Advance
If you have money on your credit card, you can use it to get a cash advance. All that you need to do is take it to any ATM and use your pin to ge cash. If you do not know your pin, you may be able to take your card in to a local bank as well. It is a convenient way to get cash when you are desperate, as long as you have some balance on a card.
The good thing about a credit card advance is that it will generally cost you less than the other options above. In addition, if you know your pin number, you can get the money fast, just as soon as you can make it to an ATM.
The negative is that you may face potential fees and high interest. While the interest will probably be less than that of a payday loans, it will still be higher than that of a regular credit card purchase.
Non Loan Options
Now that you know many of the bad credit loan options, let’s take a look at some of the non loan options. These options might involve a little work on your part, but a little hustling never hurt anyone. Take a look.
For some, a needle might not seem like a good option but if you are good with one, you can earn up to 400 dollars in a single month from donating. Use the money to handle your problems or to pay back a loan.
The good thing about plasma donation is that you can do it up to twice a week. This is because, during the donation process, they return your blood cells. That means that you do not leave with that light headed feeling. Donating plasma is also a very good thing because it helps a lot of people. Get the money that you desperately need and fell good about yourself.
On the down side of things, you have to go into the center and have your blood drawn. For some, the needle is a deal breaker. Additionally, at up to $50 a donation, it might take some time to get the amount of money that you need.
When people think about recycling metal, they usually think about turning in cans, but this is small scale recycling. For the big money, look to recycling yards that take in large scrap and pay you by the pound. All that you have to do is drive around and find this, often discarded scrap and bring it in for money.
The good here is that you can make a good amount of money by turning in what is essentially trash. Like plasma donation, you would also be doing a good thing, in this case for the environment.
On the flip side, collecting metal can be hard work and you will probably want to have a truck or a trailer to get it done. That rules a lot of people out.
Sell On Craigslist
Craigslist is a great source for money, you just have to use a bit of caution because of scammers. That being said, list something in demand and you can have a sale in a matter of hours. This usually means something like furniture, appliances, tools, etc. These things go fast.
The great thing about Craigslist is that you can sell something that is just taking up space in your home and get the money that you are desperate for.
The bad thing is that you have to deal with Craigslist buyers. They can often be difficult lowballers or scammers. If you make a sale, make sure that you only accept payment in cash and meet in a public place. Try to avoid allowing anyone to come to your home.
If you have a bunch of items to sell, a garage sale might make the most sense for you. Earn the money that you desperately need while sitting in your driveway on a Saturday morning. The key to pulling one of these things off is signage. Make sure that people can not only find their way to your neighborhood, but also all the way to your driveway.
The good with a garage sale is that you can get rid of a ton of junk while making hundred of dollars. All of those little things that you have been pondering throwing in the trash can actually bring in cold hard cash.
The bad is that you have to sit in your driveway and watch people rummage through your life. Also, you need to check into local regulations. Your HOA might not allow for garage sales and your city might require a permit.
Cut Your Hair
Got some long, flowing locks of hair? How much is it worth to you? It could be worth a lot, maybe even enough to get you out of your present time jam. Value your hair online and see if it make sense to you.
The good thing here is that you will be selling something that you can get back. In addition, this hair often goes to someone who needs it, so you could be doing a good thing.
Of course, there are a few negatives to think about. It will take you time to get that hair back and selling enough to make you money will cause a very abrupt change to your appearance.
List On eBay
Craigslist and eBay are great, but certain things just sell better online. This applies to things like designer handbags, computers and video games. Put them on an online auction and you will get top dollar for them in 7 to 10 days.
The good thing about listing on eBay is that you will reach a very large audience. This can let you sell your item quickly and hopefully get you top dollar.
The bad is that you will have to wait for your money. An auction takes time and then you have to move your money from PayPal and then into your account. If you need money desperately, you might not have the time.
Negotiate With Creditors
If you need money in a bad way, negotiating with creditors might be a way to get it. A dollar saved is a dollar earned and if you can cut some of your bills this month, you could cut down on your need for cash. You might do this by requesting interest only payments or, in the case of auto payments, requesting a deferment.
The benefit to this approach is that you can eliminate your need for a loan with minimal costs.
The negative is that if you defer a payment, you may end up paying extra interest on your debt or obligation. Still, if your other option is a cash loan, this might be a cheaper way to go.
Turn In Your Phone
An old cell phone could be just the thing to get you out of a jam. Look for an ecoATm in your area or turn to the online people at Gazelle. They can get you an offer on a phone that is just otherwise collecting dust in a drawer.
The great thing about this method of getting money is that you get rid of a depreciating asset. Sure, it might be nice to have a back up phone, but chances are good that you will not need it. Sell it now while it is still worth some money. If you have an ecoATM in your area, you can even get cash the same day.
The negative with turning in your old phone is Murphy’s Law. As soon as you do it, you will drop your current phone in the toilet. Just be careful.
Cash In Your Change
If you are really desperate, check the couch cushions, there may be more there than you realize. Besides the couch, be sure to check your dresser, the junk drawer and of course, your car. You could easily have 50 bucks in spare change scattered throughout your home. Take it and cash is in at a coin counter at your grocery store or your bank.
The best part of this method is that it is money that is yours and that you are just reclaiming. In addition, there is currently a change shortage so getting this stuff back into circulation is a good thing.
The only real bad part is the burden of collecting your coins and bringing them in. Hopefully you have enough change to make it all worthwhile.
Exchange Gold & Silver
Gold ans silver will always be worth money. If you have some in the form of outdated jewelry, it might actually be worth more to sell it by the ounce than by the piece. If you decide to go this route, keep in mind that not all gold and silver buyers are created equally. Know the going rate before you get an offer and it might pay to shop more than one store.
Selling old gold and silver jewelry is an excellent way to get money if you desperately need it. It can help you dispose of jewelry that people otherwise would not buy as a piece.
The only real downside to this is that you need to take the time to do some research. You do not want to sell your precious metals too cheaply.