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Emergency Situations

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Amit Singh
Emergency Situations

Sometimes it is very difficult to endure the financial strain we have levied upon ourselves..sometimes, situations throw us in such situations that we become absolutely clueless as to what can be done. Usually, in emergencies, we tend to break emotionally, physically, and financially..emotional and physical support is what family is there for but financial support can sometimes be a burden. So, what to do in times when you need financial assistance or basically there is no time out for you?

 

  1. Borrow from family members or friends: In case you find yourself in the middle of a financial crunch, you could surely contact your daily members or friends to lend you the cash you need..they might be able to help you. But it might be a little embarrassing to borrow from someone known as they might judge you or even your relationship can be affected badly because of it.
  2. Bank loans: You can borrow money from banks in case you need some funds..but the paperwork bank needs to approve and render you the loan is pretty lengthy and tedious..also, you might end up getting rejected for the eligibility of the loan. So, this option is not that suitable in emergencies.
  3. Filipino cash loans: You can get cash loans in an hour in the Philippines just by presenting certain documents that are required. The approval time for these loans is very minimal. With online applications, you can expect to get your loan approved in a few hours. Given that your documents are valid, your loan can even get approved within an hour. There are no requirements for a mortgage, employment certificate, or income proof for getting approval for loans from FinTech companies. It’s convenient and hassle-free.
  4. Use your credit card: You can use your credit cards to make payments which would be helpful for you at the moment but it could prove to be distasteful later because eventually, you would have to pay the bill..with extra charges and obviously, it would be a burden on your head.
  5. Sell precious items: You could sell your precious items like gold, etc to get the money in emergencies. But, it is definitely not an easy process because you might not get the right value of your valuables if you don’t land up at the correct place or it might take a lot of time to finish the deal.
  6. Mortgage your property: Although it is a very difficult thing to do and it should always be the last option..but mortgaging your property to a financial institution can help solve your problems temporarily. It would help you provide the financial assistance you might badly need.
  7. Sell off some stuff: You can sell off some stuff that isn't required in your house anymore so that you can collect the required amount. You can organize yard sales or contact a local dealer to get the best price for your belongings..this method might take up some time, but it can surely prove to be helpful and harmless.
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Amit Singh
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