How to Access Cash Quickly if You’re in a Pinch
Note: This is an advertorial by MYJAR
You can never tell when you’re going to find yourself in a pinch. Whether it’s finding yourself in some kind of accident involving great personal injury or your roof caving in at home and needing some rapid-response repair.
If you’re in a pinch as a result of the aforementioned scenarios or similar (or worse) you may be asking yourself this question: what is a fast loan and is it right or me?
What are the requirements?
In contrast to the amount of red tape you must wade through in order to get a loan from a bank, many short-term lenders just require your name, address, phone number, proof that you have regular income as well as some third-party data about your borrowing and credit history.
However, there are no standard set requirements - each application will be considered on its own merits. So, if you have bad credit history, you shouldn’t worry too much as other factors will be considered too, such as how close you are to your next payday.
Some lenders promise a loan within fifteen minutes of application, which is incredibly fast. You won’t have to queue, like at the bank. You just need to log onto the lender’s website, make sure you read all the terms and conditions, be confident that you’ll be able to pay the money back in time, and sign up.
The money will instantly credited to your bank account. This beats the bureaucracy at the bank as well as the personal awkwardness of waiting around for a loan from a friend or a family member.
Short-term loans are a great way to get yourself out of financial fixes that you may have stumbled into. However, it should be noted that you still need to express a certain degree of responsibility when dealing with short-term loans.
Not repaying your loan in time may leave you in a worse-off position than before, as you’ll be saddled with extra debt and non-repayment fines. Take care to read the terms and conditions of the loan very carefully and make sure that you understand what you stand to lose if you are actually unable to afford the loan and its repayment.
Don’t let this push you away from considering what can be a very helpful source of financial assistance. As long as you’re responsible and realistic about your expectations, you only stand to gain from taking out a short-term loan.