Debt Consolidation Credit Counseling In Phoenix

Now that the holidays are over, you may need to get your hands on some extra funds. The last two months have probably been quite expensive and your bills might be stacking up. If this is the case for you, consider a fast cash personal loan.

There are multiple methods that can be used to secure fast cash. The first is by taking out a signature loan from a bank. You will have to have good credit to use this method, but your interest rate will be quite reasonable.

The interest rate will probably be quite high though, especially if you do have poor credit. The good news is that they are one of the quickest ways to get money. The turnaround time between application, approval and receiving the money is usually within a day. Most places will approve your loan within a couple of hours. Once the loan is approved, they can directly deposit the full loan amount into your savings or checking account within 24 hours.

Another way you can get your hands on some money is by taking out a secured loan with collateral. Cars, homes, and insurance policies are commonly used for collateral for this type of loan. Since the bank is taking on less risk with this type of loan, they will usually offer you a great interest rate.

The main reason that some people will stay away from collateral loans is that they are afraid of losing their assets. Since your home or car title is on the line, defaulting can result in the bank taking your home.

In most cases, the loan will be a short-term loan. You will probably have to pay back the loan in its full amount within a couple of weeks. If you do negotiate for a longer pay schedule, take into consideration what it will be costing you in interest and fees.

If you need the loan within 24 hours, the best method for you will be to get a payday loan. You can then get a real bank loan that you can use to pay back the payday loan. The bank loan will take a few days and the payday loan can secure your funds now.