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How To Access Funds When You Can’t Pay Your Bills

Have you ever had financial bills spill out of control due to unforeseen expenses during a crisis? Most of us have. Even if you’re disciplined and follow a strict budget that allows you to meet all your financial obligations, one huge expense can derail all your plans.

Bouncing back after a financial crisis is the key factor to keep in mind during pressing times. You can’t give up! Also knowing where to access funds during tough times are important. There are many types of loans and lenders in Anaheim to consider so knowing the pros and cons can be indispensable. Make sure you make the right decision!

Let’s explore how you can access funds without having to sell your assets or pay exorbitant interest rates.

List Your Expenses First

Before heading out to lenders for quick money, it’s wise to list all your essential bills that cannot be overlooked. You’ll be surprised how much you can forego after going through your expenses:

  • Bills such as food, mortgage, utility bills and transportation are the basics you cannot skip.
  • After listing the basic bills look at the secondary bills such as childcare, taxes and credit cards which should also not be ignored.
  • Bills such as subscriptions to Netflix, entertainment and phone services can be negotiated or skipped if needed.

Prioritizing the essentials can give you a new perspective of how much money you need so you don’t take out a bigger loan than what’s necessary.

Considering A Title Loan

Title loans are secured loans that allow borrowers to put up their car titles as collateral. The amount you qualify for depends on two factors:

  • How much you’ve paid off your car already
  • The value of your car

Some lenders are very accommodating and will consider approving a loan even if your credit record is bad. Most lenders of title loans in Anaheim allow online applications which make the application process simpler.

Factors To Consider When Selecting A Lender

  • They must be credible and experienced
  • They must be able to offer you flexible repayment options
  • Compare interest rates and negotiate a good one if your credit rating is very good
  • Check the application process and make sure there are speedy turnaround times for approval and payment to you

Conclusion

You don’t have to feel stuck when financial troubles come your way. Although it’s not always ideal to take out a loan when you’re already pressed to pay monthly bills, consolidating your debt with a loan can make future monthly payments easier.

There are ways of managing your bills without damaging your credit score or selling your valuable assets. Knowing how to access funds safely and securely is key. Be vigilant not to be taken advantage of because you feel desperate.


Let us know how you’ve overcome a financial crisis and leave us a comment below. It might help someone else in your area who is going through a similar experience.


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Sherry of Save. Spend. Splurge.

I got out of $60,000 of debt in 18 months using TheBudgetingTool.com. Since then, I have worked 50% of my career (taking 1-2 year breaks), and quadrupled my income within 2 years of graduating, going from $65K to $260K (savings rate = 85%). I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I also post daily on Instagram @saverspender.

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