When you find yourself stuck in a cash crunch with no resources on which you can fall back, there are various options available to get financial help. Although there are many institutions – government and private – that offer such help, it is important to qualify for these by providing documents that show your need or inability to meet expenses. Generally speaking, private lending organizations are best avoided because of the high interest rates they charge. Family, friends, your local church and city government are some of the first options you should consider approaching.
Speak to your family and friends to find out if they can lend you money to get over your emergency. Depending on their financial status, consider if you can get the entire amount you require from one person or if you will need to ask more people for smaller amounts. Make sure you specify clearly the time when you will repay the loan.
Ask for a salary advance at your office. Speak to the human resource or payroll department about an emergency loan. Explain the exigencies of the situation and request financial assistance. Many offices provide loans to their employees at nominal or no interest.
Speak to your parish church authorities about your need for financial help. Ask if they have a community program that can help meet your emergency requirement for money.
Apply to local charity organizations such as the Salvation Army and United Way for financial help. Provide details of your requirement and proof of your inability to meet this need. Produce copies of bills, eviction notice, salary slips or unemployed status documents to convince the charity that you deserve help. Browse the website of Charity Navigator, which provides names and details of charity organizations that provide financial assistance in various states. Contact charities operating in your state for monetary help.
Visit the human services department of your city government and find out if there are any financial services to which you are entitled. Check if the government has lending programs for people who require money to meet emergencies. Any loan you procure from the government will be charged interest at rates much lower than private financial institutions.
Find a financial institution that offers payday loans. Many agents also offer these services online. These are loans that you need to pay back by the next payday. This option is not possible everywhere because some states prohibit these loans. Keep this as the last option when nothing else works. Although procuring such loans is easy, they are not a very good option because of the high interests the loaning agents charge.