Feeling anxious due to financial constraints and got turned down by Speedy Cash? Keep calm, because there are more ways to unearth the funds you need. This article introduces four viable Speedy Cash alternatives that might be a great fit for you, whether you have bad credit or are in search of a more pliable lending solution. Let’s delve in!
Broadly speaking about Speedy Cash; it’s a renowned figure in the short-term financing sector, faithfully providing customers with payday loans for over 25 years. They also provide services in a similar line, such as installment loans, fast cash loans, and short-term loans, generally offering a substantial, quick injection of funds without needing to secure the loan with collateral. However, the loans are relatively expensive, with a short repayment window, typically between 2-4 weeks.
Exploring alternatives to Speedy Cash might come as a pleasant surprise due to their wide-ranging nature. Let’s discuss these options in detail.
TOP CONTENDER: SOUND FINANCIAL
Sound Financial aims at offering a more transparent service when compared to other short-term lending options, offering similar financial solutions as Speedy Cash. Its business approach hinges upon openness and personal service, negating covert charges and hard-to-grasp conditions. They empower their clients by educating them about their finances, a feature that sets them apart from Speedy Cash.
SPEEDY CASH INSTALLMENT LOAN COMPETITOR: OPPLOANS
OppLoans, specialized in installment loans, is another firm providing funds promptly. However, they have high interest rates and low borrowing values, operating only across 37 states and Washington, DC.
SPEEDY CASH TITLE LOAN CONTENDER: TITLEMAX
TitleMax offers title and personal loans. They allow you to borrow higher funds compared to OppLoans, although you’ll have to put up your vehicle’s ownership papers as collateral.
SPEEDY CASH PAYDAY LOAN RIVAL: CASHNETUSA
CashNetUSA provides payday loans like Speedy Cash, though they operate solely online. Although this might facilitate quicker fund access, any hiccups must be resolved through email support.
SHORT-TERM LOANS: A BALANCED VIEW
At first glance, short-term loans seem appealing as an instant solution when you’re hit with unexpected expenses. However, for those financially stable, these loans can lead to a deep financial rut. The industry also grapples with predatory lenders, which adds to short-term loans’ undeserved notoriety.
TACKLING A SHORT-TERM LOAN
If you find yourself needing quick funds for unexpected expenses, do your homework to protect your financial future. Always stay aware of the interest rate, repayment period, impact on your credit score, privacy concerns and educate yourself on the fundamentals of personal finance to avoid the need for these loans. Understanding how to budget and save money will certainly save you from potential financial rises, a step towards responsible adulthood.
Thorough research on the available loan-providing companies is also crucial. This will enlighten you on which of them operate with integrity and which ones burden the borrowers with high-interest rates and perplexing conditions.
SUMMARY
Armed with the essential information on short-term loans, consider the following steps:
1. Think through all your options. Consult a financial counselor or do your own research before choosing an organization.
2. Know your boundaries. Be aware of your financial scenario, how much you need, what’s the maximum interest rate you can bear and your repayment abilities.
3. Be Vigilant. Speedy Cash’s prevalence is due to widespread advertising. Instead, consider other options like Sound Financial that better suit your financial status.
And remember, being proactive about understanding your finances and options goes a long way in securing your financial future.
From, Smartasset.com
