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Are You Wondering How to Get Emergency Loans?

  • 4 MIN READ|
  • 0 Comment |
  • 1487 |
  • by Joseph Priebe|
  • September 12, 2018 |
  • Loans

How to get emergency loans

When it comes to getting an emergency loan, many people are intimidated by the loan process, and considering some of the things large chain banks make their customers go through, we don't blame them (the folks who feel intimidated).

So it occurred to us that if we explained the process, perhaps some of you who might have some anxiety over the prospect of taking out a personal installment loan or getting a title loan might have some of that angst relieved. After all, as that saying goes, 'knowledge is power'.

As always, we encourage you to get all the information necessary so you can make an informed decision before deciding to apply for a loan. Please take a look at our FAQ section which is undoubtedly helpful and will contain a lot of the same information you find here. However, we've discovered that many people like to have the basics presented to them in a comprehensive format (as in 'how to take out a loan') that goes through the process in a way that presents differently than a page full of questions. 

Here's How to Get Emergency Loans:

Step 1. Decide whether or not you need a loan. 

Also, we want to stress the word 'need' in this case. It's inadvisable to go into debt just because you want something but might not need it, like a new smartphone or the latest style of shoes.

Many people find themselves in situations where they need a hardship loan for bad credit, and cannot wait until later when they can save it up. These situations are sometimes called a gap in the budget.  It occurs to those who make a fluctuating income, such as sales, and have a shortfall or a bad month but need money. 

Situations That Justify Getting an Emergency  Loan:

Hopefully, we've given you an idea about what constitutes the need for a loan.

Step 2. Take a look at your finances and income. 

Will you be able to pay back a loan? If your answer is a defining 'no', then you should stop here at step 2. Just because you will know how to take out a loan, or where to get loans, does not mean you should apply if you are incapable of repaying a loan. CASH 1 encourages responsible borrowing and practices responsible lending.

Step 3. Gather your documentation of income.

Documents would include your paycheck and bank statements so you can show proof of the ability to pay back the loan. You may have heard a lot of bad stories about the small loan industry (as if there aren't enough bad stories about the big banks, right?), but CASH 1 does want to loan you the money you need and be able to pay it back. Everybody benefits in this situation. If it's a title loan you're thinking about, bring your title with you to CASH 1, and we can run a quick appraisal, and loan you an amount based on the value of your vehicle. By the way, some folks don't know this, but if you need, say, $5,000 and are getting a title loan, and your vehicle qualifies you for a loan of $8,000, you do not have to take the entire amount.

Step 4. Give us a call at 844-831-4198

Speak with one of our professional and friendly loan service providers. We may even suggest you go through the application process just as a way of getting information on how much of a loan you can get. Remember that there is no obligation to apply and do not have to take out a loan even if you complete the application process. We encourage you to call so we can answer any questions that might not be covered in this article or the FAQ section.

Step 5. Get the information and have a plan.

So you've gone through the application process and you're approved for a specific loan amount. Take this time to look at your budget, or develop a budget if you don't have one, and make sure you can incorporate the repayment schedule into your finances. We don't want you to default or even miss a payment. Something like that is terrible for everyone involved; it will go on your credit report and likely mean we won't be able to lend to you in the future should another financial need arise.

Step 6. If you have trouble paying your loan. 

We will work out a plan that allows you to repay the crisis loan. Just keep the lines of communication open, so everyone is on the same page and knows what's expected. We know sometimes things happen (for instance, the author of this article got into an accident while having a title loan on his pickup truck; sometimes the unexpected will come on the heels of the unplanned), but there is always a solution, and it's vital that all parties involved have all the information needed to proceed.

Here then, are the basic steps on how to take out an emergency loan. 
If you need to get a loan in Nevada or are thinking about getting a loan in Arizona, please consider CASH 1. Our process is easy, and our loan service providers are friendly.

That's our promise.

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