Thursday, September 23 , 2021

5 Situations That You Can Resolve With an Emergency Loan

Financial emergencies come in many different forms. It’s one thing when you have funds set aside for those types of events, but it’s another when the bank account has a balance that’s close to zero. How will you take care of that pressing need? Applying for an emergency loan can often get the money in your account in one or two days. Here are some examples of situations that would qualify as an emergency. 

Paying the Rent or Mortgage on Time

It’s never happened before and you hope it never happens again, but your paycheck is delayed. The money will be there in a few days, but you need to make the rent or mortgage payment now. While you could pay it late, that would mean incurring some sort of fee. It also means potential damage to the relationship between you and the landlord or the mortgage holder. 

Use the funds from the loan to make the payment on time. You retain your good name and don’t have to worry about late fees. Once your paycheck does show up, use it to retire your short-term loan or even a CERB loan

Unexpected Medical Bills

While your national and provincial health coverage covers just about anything, there are some  medical procedures that are exempt. Unless you have private insurance to cover those events, the costs will have to be covered out of your own pocket. That’s fine if you have money to take care of the bills. If not, some other solution is needed. 

A loan is a great way to manage this type of expense, especially if the need for the treatment arises unexpectedly. With the loan proceeds, you can have the procedure or treatment quickly instead of having to wait. Since the loan comes with repayment options that you can honor with ease, there are no worries about upsetting the household budget. 

Getting the Car Back on the Road

Many people take their vehicles for granted until they stop working. All of a sudden, there are worries about how to get to and from work, figuring out how to run essential errands, and in general what it will take to plan any sort of excursion around town. Depending on how much you depend on your vehicle, not having one that runs could cause serious problems. 

The most practical solution is to secure a loan and use the money for auto repairs. By getting the vehicle back on the road sooner rather than later, life can return to normal. Enjoy that easy access to transportation on demand while you repay the loan balance. 

Recovering From a Burglary

Nothing makes people feel insecure like coming home and finding the place ransacked. It’s true that the tenant or homeowners insurance will eventually pay the claim and you can replace whatever the burglar stole. Unfortunately, one of the stolen items happens to be the laptop that you use for your home business. It needs to be replaced immediately. 

Rather than waiting for the payment from the insurance company, secure a loan and use the money to invest in a new laptop. Download all those files that you saved in the cloud and have your home business up and running again immediately. Once the payment from the insurance company arrives, use some of the money to pay off the loan. 

Making a Last-Minute Trip

You need to go out of town at once. The problem is that you don’t have any funds set aside to cover the travel expenses. Waiting more than a day or two is out of the question. In this scenario, a quick loan is the way to go. 

Once the money is in your account, take the trip. After returning home, dive in and start making those payments. Prompt payment ensures that the next time you need money, there will be no question of where to turn. 

Do you have a situation that needs resolving as quickly as possible? A loan for emergencies could be the ideal solution. Submit an application and see what type of offers come your way. One of them is sure to be just what you need. 

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