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A man on a tablet in Keller TX getting a payday loan.

Fast Ways To Get Money

If you live in Keller, you actually have many ways to get money, even if you have bad credit. There are payday loans, title loans, pawn shop loans and even bad credit personal loans available to you. I like to concentrate on the unsecured loans personally. They can get you the money that you need without having to give a lender your property as collateral. That can be risky, especially if you are looking at title loans.

Instead, let’s concentrate on the payday and personal loan options in Keller.

Payday Loan Basics

First, for the payday loan. You might already know all about these loans because they have been around Keller for decades.

When you take out a payday loan, you can take out anywhere from $100 to $1000. The lender will charge you a fee per $100 borrowed and it could be anything. An average fee might be $15 to $20 per hundred borrowed.When the loan term is up, usually in 10  days or so, you pay back the loan and all fees.

The good thing about these loans is that they are easy to get. Have an income and a checking account and you are a good candidate. In addition, you will get the money quickly. Apply today and have cash as early as tomorrow morning. It can sometimes happen that quick.

The bad thing is that a payday loan has a short loan period. Ten days or maybe even fourteen days. That is not a long time to get your affairs in order in Keller. If you borrow more than  a hundred dollars or so, the payment can be tough to deal with. If you decide to go with a payday loan, take a look at your upcoming budget and borrow only what you know you can pay back. Make a mistake and it could cost you more fees.

Personal Loan Basics

A personal loan or installment loan gives you something that you can not get with a payday loan, time.

With a personal loan, the payments will be split up over multiple installments. This will generally make the payments smaller and easier to handle. If you are trying to get things back to normal in Keller, that is very important.

Along with the installment payments comes another benefit, you can get more money. These loans do not have the same limitations that payday loans have so if you need thousands of dollars, you can borrow it.

Of course, you should only borrow what you need to get through your emergency. If you borrow more money than you need, you will be paying more than necessary in interest and fees. These will still be bad credit loans and they are costly.

Is A Loan Worth It

Now that you know about your two most common loan options, let’s consider one thing, whether you need a loan or not. If you have bad credit, a loan should really only be taken out for an emergency. If you need to pay a medical bill or pay the rent it might be an option but you should never use it for a luxury expense. It is better to do without than to pay excessive interest and fees.

Another consideration that you should make is whether you have other options. Do you have something that you could sell or maybe a rich relative in Keller that you could borrow from?  Every dollar that you do not have to borrow will save you in a big way. Do everything that you can to cut the amount that you need to borrow.

Lastly, would it be better to do without the money at all. Even if it is for a needed expense, it might sometimes be better to avoid the loan if the penalties are less than the loan fee. For example, a late charge on your car payment might be better to take than the fees of a payday loan. Weight the penalties of not having the money against the cost of the money before you sign that loan contract.

In the end, yes you are in an emergency but five minutes of contemplation could save you hundreds of dollars. Think it through.

Getting an emergency loan.
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Summary

When you need an emergency loan, Lone Star Cash Services can help. See how to get a quote for the money you need and how to navigate your different loan options.