As you drive down the highway of life, you can’t expect every part of your trip to be over smooth, freshly paved asphalt. There will be potholes, flat tires, and empty gas tanks making the ride uncomfortable, stressful, and even dangerous. How you’ve prepared for these emergencies will determine how well you can recover from these surprise setbacks. While some of us have trunks equipped with all of the tools necessary to get back on the road, some of us find ourselves facing down these emergencies emptyhanded.
In place of car jacks and jerry cans, our arsenal of financial tools should include considerable savings set aside for unexpected charges, debt relief, and retirement contributions. But as a low-income American, what you ought to have doesn’t always match up with what you do have. You simply don’t earn enough to contribute to a savings account that could cover the cost of unforeseen bills and repairs. When most of your income is tied up by recurring monthly bills, your contingency plan needs to include financial assistance from a fast-acting, trusted source. Relief from your financial speedbumps isn’t hard to secure. In fact, you can find direct payday lenders online that offer quick and convenient small dollar loans.
An online direct lender is different from traditional sources, as they created a streamlined method of applying for and securing small dollar loans. They require no in-depth, in-person interviews to review your financial history before you apply. They only request simple contact and financial information on their online application, all of which takes less than 20 minutes for the average individual to supply. Notification of your qualification is nearly instant, after which the lender will clarify your information to better understand your profile and your needs. Should you meet all of their criteria and they approve your application, you can receive your loan by the next business day.
Typically, the financial products provided by direct lenders range between $200 and $1,000, and they include such opportunities as small dollar loans, installment loans, and lines of credit. Which product you can apply for will depend on the lender you contact and the state in which you live, as each state has laws regulating the size and terms of the allowable loans in your area. It’s your responsibility to confirm that the online direct lender you choose follows these laws, as they were put in place to protect you and your finances.
Ultimately, it’s your decision and it’s one you shouldn’t make lightly. Take the time to research your options to ensure the assistance you seek won’t put you into further debt with unmanageable repayment terms. On your search for financial assistance, don’t exchange one speedbump for another. Fill your trunk with the tools you know will help you out in an emergency, and find the financial product that you can reasonably pay back according to the lender’s terms. With their help, you’ll get back to the smooth, uninterrupted pavement in no time.