The most obvious fact about an emergency is that it comes out of nowhere, throwing off even the most well laid plans. You could sit and write down all of your financial goals out on a calendar, and still run into an emergency situation where you have to pick up a lot of money in a very short amount of time.
The key to making sense of an emergency situation is that you need clear cut answers. This is why borrowing from friends isn’t a good solution, because if something changes on their end, they have to back out of the deal that they made with you. This is obviously not what you want when every single day counts. When you’re pressured to solve a financial problem, you can’t hope your friends will do it for you.
This is why going to an outside lender is a smarter decision. The lender doesn’t base everything on what type of year they’re having or if something is going to be paid off elsewhere. They just work as hard as they can to find a solution that works for you. This could be a very short term loan of roughly 30 days or something as long as six months. There are so many different variables that it is always best to contact a lender directly.
So, given the benefits of short term instalment loans, why don’t people seek them out more often? Well, they worry that their credit will keep them from getting the loan that they need. In many cases, proof of income and employment is far more important than actual credit. It’s all about whether you can comfortably make the repayment term satisfactorily rather than having a perfect credit score. Most lenders realize that not everyone will have perfect credit.
Overall, it’s a win-win situation for all parties involved. So if you know that the clock is running out, it’s time to check into emergency finance solutions as soon as possible. Good luck!