Get Fast Cash and Urgent Loans with Bad Credit: Where to Get Approval for an Emergency Cash Loan

A poor credit history makes it far more difficult to get an urgent cobra loan from the bank to help with a surprise bill. However, it may be possible to get fast cash or an emergency cash loan from a payday lender, pawnbrokers or credit union with no credit checks. The money is normally available within just hours.

The Cost of Fast Cash Loans with Poor Credit

A small loan with bad credit is only intended to be a source of short term borrowing because the rate of interest is high. It typically costs about $20-25 to borrow $100 for a month. This is because an adverse credit lender faces a far greater risk that the customer will fail to repay the money they have borrowed.

Urgent Loans with Bad Credit from a Payday Lender

It may be possible to get a no credit check emergency cash loan for up to $1,000 for a calendar month. The lending criteria for a same day cash advance are that the borrower is a U.S. citizen, at least 18-years old and in full time employment. A valid checking account and at least 2 forms of identification (one of which must be photo I.D.) are also essential.

The customer provides the payday lender with a postdated check that clears when that borrower is paid. This will need to cover the principal and any interest that will accrue. If the application is received prior to 2.30 PM, the money will reach the customer’s account on the same day. Should it arrive later, a quick cash loan will reach a checking account within 24 hours.

An Emergency Cash Loan from a Pawnbrokers

Borrowing money from a pawn shop involves providing the lender with an item of value (gold, silver, jewellery, electrical equipment). They will then appraise the collateral and decide upon the maximum value of an urgent loan. After appropriate identification has been provided, the customer is then free to decide on the size of their pawn shop loan.

The customer will be provided with a receipt for their collateral and will normally receive their fast cash within just minutes. The lending term is typically a month, although this could be extended. The collateral can only be redeemed by paying back the quick cash loan and any interest that has accrued. Failing to do so will lead to the sale of the item at the pawnbrokers.

A Quick Cash Loan from a Credit Union

In order to qualify for an emergency cash loan from a credit union it is necessary to become a member. People join on the basis of a shared interest, such as locality, work or religion. Once approved as a member, that person becomes eligible for the full range of services.

A credit union is a non profit organisation that operates purely for the interests of its members. Although the cost of a fast cash loan is about the same as a same day cash advance from a payday lender, a credit union provides guidance in relation to whether borrowing money is prudent.

How to Embrace Your Student Loan Debt

Student loan debt seems to the rule rather than the exception. My $15,000 debt has been around quite a long time and will probably take me about 10 more years to pay off. There have been periods where I have paid regularly but more periods where I have requested deferments. The government makes it very easy to defer and they give you quite a bit of latitude when it comes to making payments on the debt. I have never been in default and never will be barring a catastrophic life occurrence.

I do not resent my debt and it will one day be a memory. Without student loans, I would not have been able to get the wonderful education I received from UCLA. My college years were wonderful – some of the best years of my life. The collegial environment, the rigorous academic requirements, the diverse group of people I came across and forged friendships with all contributed to an enriching educational experience. Therefore, yes the student loans were definitely worth it and they contributed to making me the person I am today.

When I lost everything, I still had my education. I was the first person in my immediate family to go to college and received a write up in the local paper when I graduated. My loans were spent strictly on my college education. I was responsible for the cost of my education and used the loans for that purpose along with working two to three part time jobs during the school year and lining up a job for the summer. I have benefited greatly from my education. Not necessarily financially but it has instilled confidence and helped vanquish some deep emotional demons. I have no regrets. When I was going through a difficult period, right after graduation, my cousin told me to always remember that no one will ever be able to take my education away from me and those words will always remain with me.

Being a single mother and working for a non-profit makes it difficult to pay the loan back on a regular basis. Hindsight is 20/20 and there are financial decisions I wish I could have changed and instead focused on reducing and eliminating my student loan debt. I may not be making a six-figure income but what my student loan debt represents to me is invaluable.