When you're unemployed and in need of quick emergency cash, finding suitable loan options can be challenging. Car title loans offer a viable solution for those in need of immediate funds. This guide will help you understand how to secure the funds you need through title loans.

Quick Emergency Cash Loans Unemployed Workers Will Love

There are various loan options available when you need quick cash. These include credit card cash advances, home equity lines of credit (HELOC), payday loans, and title loans. Here's a breakdown of these options, with a focus on title loans.

1. A Credit Card Cash Advance

A credit card cash advance is a type of quick emergency cash loan for unemployed workers that is issued by your credit card. Like most emergency loans, it comes with a very short repayment term.

It is pretty easy to get your hands on a credit card cash advance since you don't need to prove any income, nor do you have to undergo a credit check.

You can receive this type of emergency monetary solution by visiting an ATM and using your PIN. If you don't have a pin, you will need to contact your card's issuer to obtain your advance over the phone.

There's no argument here — credit card cash advances are easy and incredibly fast to acquire. However, you will have to pay incredibly high interest rates, and it may come with a fixed, flat fee for each advance you use. This could be upwards of $20 per purchase!

2. A Home Equity Line Of Credit

A home equity line of credit, sometimes referred to in its shortened form as HELOC, leverages the equity you have in your house. Equity is calculated by subtracting the balance of your mortgage from the amount your home is worth.

Generally speaking, a home equity line of credit has a draw period. This timeframe is the duration you can use the line of credit for. Afterward, it will close and you will need to start repaying everything you borrowed. The draw period is usually 10 years but can differ depending on your age.

These quick emergency cash loans for unemployed workers offer wonderfully low-interest rates and give you access to cash whenever you need it. Not to mention that you're using your house (i.e., an asset you own) to fund your emergency.

However, there are a few considerations to keep in mind if you're pondering taking out a home equity line of credit:

• If you default on your loan, you may lose your house.
• Depending on the lender, you'll have to prove that you've worked in the past and are getting some form of income currently.
• Again, depending on the lender, you might need a pretty good credit score, which is simply not possible for some people.

 

 

3. A Payday Loan

When it comes to quick emergency cash for unemployed workers, you’d be surprised to know that payday loans are among the options.

A payday loan is a short-term financial aid that effectively uses your future income as security. If you can't wait a few days or weeks for your money, a payday loan is one of the best ways to fortify your income.

Payday loan lenders oftentimes do not conduct credit checks, making it a fabulous option for those with less-than-perfect credit scores. Not to mention that it won't affect your score either way since no hard inquiries are performed.

Of course, you need to ensure that you opt for a reputable lender. In some states, there are very few legal ties and next to no interest caps. So, always do your research beforehand.

4. A Car Title Loan

Car title loans are an excellent option for unemployed workers needing quick cash. A title loan uses your vehicle’s title as collateral. Here's how to get a title loan near you:

How to Get a Title Loan:

1. Prepare Required Items

   • A valid driver's license or state-issued photo ID
   • Your vehicle, which must be owned outright
   • The lien-free vehicle title

2. Submit an Online Form

   • Start the process by filling out and submitting the online title loans form on the Fast Auto Loans, Inc. website.

3. Talk to a Loan Representative

   • A loan representative will contact you to confirm your information, explain the process, and schedule an in-person meeting at a store location.

4. Attend the In-Person Meeting

   • Bring your required items to the meeting. The representative will assess your documents and vehicle title to determine your eligibility.

5. Complete Final Paperwork and Get Cash

   • If approved, complete the final paperwork and receive your funds on the same day.

Benefits of Title Loans

• No Credit Checks: Suitable for those with poor credit
• Fast Approval: Quick access to cash
• Convenient Process: Start online and finish in-store

Unemployed workers have various options for quick emergency cash, with title loans being a practical choice. The process is straightforward, and you can receive funds quickly to meet your urgent financial needs.

For more information or to apply online, visit Fast Auto Loans, Inc. today.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.