Emergency Loans Los Angeles can be as easy as 1-2-3!
Being in a situation where you need a large amount of cash in a short amount of time can be very stressful. No one wants to realize they don’t have enough cash in their bank account to cover a bill or pay for a large expense. However, if you do find yourself in this situation in Los Angeles, it helps to know that you have choices.
Reasons You Might Need an Emergency Loan in Los Angeles
Life can be unpredictable. Though you may be doing fine money-wise one day, an unexpected crisis or circumstance can change everything in an instant. Here are some most common reasons why an individual may need an emergency loan.
Loss of Job
Many people live paycheck-to-paycheck without a reserve of cash built up in the event of a job loss. This means that if they get either temporarily or permanently laid off, they will quickly get into a financial bind. It may take weeks or even months to find a new job and bills need to be paid in the meantime.
Health Emergency
If you or a loved one need surgery, have to spend time in the emergency room, or have another type of health emergency, bills can add up quickly. If you don’t have insurance, the problem is compounded. In some instances, doctors or other health care professionals will require at least a portion of their bill up front or shortly after services are rendered and this money can be difficult to come by.
Large Bill
If your heater goes out, you get a big tax bill, or you need to put down a deposit on a new apartment, you may not have the cash on hand to pay for it. Though many people can cover their everyday bills, a large expense may simply be too much for them to handle at the time.
Bail
If you or someone you love is arrested, you may be required to pay bail to get them out of jail. Bail can be anywhere from $2500 to tens of thousands of dollars depending on the crime and the suspect’s record. Though you may be able to pay a portion of this as a bond, you still need a large chunk of cash to do so.
Funeral
If a loved one dies, funerals and services can easily cost thousands of dollars and many funeral homes require money up-front. The last thing you want to do is skimp on arrangements because you can’t afford them and loans are often the only option.
Hold on Funds
If you are in a business such as real estate or construction, you may find yourself waiting for money in the form of escrow. You may also have to pay subcontractors before you receive the full amount of money for a project and need short-term cash to make ends meet.
Emergency Loan Choices in Los Angeles
When you need money, often the first place you think to go is a traditional bank. However, banks require stellar credit and often also ask for collateral to secure a loan. Even if you do qualify, you may have to wait weeks for the money to reach your bank account. This makes bank loans out of reach for many individuals who need quick cash. Fortunately, there are a number of choices for personal loans in the Los Angeles area. However, some options are clearly better than others. Here are some options:
Personal Loans
Personal loans involve a fixed interest rate and a set payment schedule. Unlike bank loans, you can usually get your money quickly. However, you must have a good credit score to qualify for these loans and many feature a high interest rate.
Payday Loans
Payday loans and check cashing services should be one of your last options for quick cash. Not only are they usually limited to $500 or less, but they also often have incredibly high interest rates and unfavorable payment terms.
Credit Card Advance Loans
If you have a credit card with unused credit, you can often take out a cash advance. However, many people in an emergency situation have maxed credit and even if they can get a cash advance, the interest rates on the money are usually high.
Car Title Loans
If you own your car and have a free and clear title, you may be able to qualify for a car title loan. There are services available that can match you up with the most favorable lender to get you the cash you need and you can continue to drive your vehicle as you pay off the loan.
Where to Get an Emergency Loan in Los Angeles
Once you have decided on the type of loan that is best for you, the next step is to find the best place to get your loan. It’s vital that you work with a reputable company that will work hard to get you the best possible APR (annual percentage rate) and terms to repay your loan. In many cases, it makes sense to work with a company like Max Cash® Title Loans that acts as a broker.
At Max Cash, we don’t charge our clients anything to use our services. We simply act as a broker to find the best possible lender for your car title loan. With cutting edge technology and a professional, knowledgeable staff, Max Cash Title Loans can get you the money you need without added stress or a long wait. We are open seven days a week and have hundreds of locations to provide you with the most convenient experience possible. In many cases, the entire process can be done online, which eliminates the need for standing in line.
If you are in need of emergency cash, it’s nothing to be embarrassed about. Whether you need money for an emergency room visit, a funeral, or you need some money while you look for a new job, getting a car title loan may be the answer.