Get Your Offer
“One of the simplest ways to get money in a hurry is to cut your bills. A penny saved is a penny earned, as they say. Contact your lenders and creditors and ask about a payment deferral. Delaying bills could give you the money that you need now to handle your emergency obligation.”
How Will I Get My Quote?
The process is very simple. First, you fill in your information on the quote form above. The form takes just a few minutes to complete. When you submit the form, your information is sent to a network of lenders.
If approved, a lender will then provide you information about the offer for the 700 dollars you need now. You can then review the information and decide to take or decline the offer. If you accept it, you can have money in your bank account the very next business day.
Depending on your qualifications, you may be offered an installment loan, a payday loan or in some cases, even a title loan.
About Installment Loans
An installment loan can give you more flexibility than a payday loan. With an installment loan, your payments will be broken up over several months.
If you have the choice between a payday loan and an installment loan, the installment version will almost always be better. Here are some things to consider.
If you need 700 dollars now, this is a good loan because it is not as limited as a payday loan. More money is available but borrowers should still be careful not to get over extended. In addition to more money, you will have longer to pay the loan back because it will be broken up into multiple installments.
The interest on an installment loan can still be high if you have bad credit, although it is generally lower than a cash advance. The loan term will also be longer so you will be paying that interest for a longer period which can add up.
Be sure to consider the total cost of the loan when making a decision. This is the amount that you would pay after carrying the loan to full term.
About Cash Advances
If you need 700 dollars, before taking out any loan, you need to know what you are getting yourself into. A cash advance or payday loan is a high interest loan with many benefits and negatives. Know all about them before you commit.
Here are a few things to consider before you accept a loan of this sort.
One benefit of these 700 dollar loans is that they are easy to qualify for. Even if you have been turned down for traditional financing, you can probably qualify for the 700 dollars that you need now. The main requirements are that you have a source of income, a valid identification and a checking account.
Another benefit is that these loans fund quickly. You can get your money as soon as the next business day if you are approved. They will also be deposited directly into your bank account by your lender. It couldn’t be faster or easier.
Along with the benefits, there are some negatives that you mist consider. The first is the fact that the effective interest rates can be quite high. If you are offered a payday loan, your lenders charge set fees based on how much you borrow.
When you calculate the interest rate, the APR is often in the hundreds because of the short loan terms. APR’s of over 400 percent are common and they can often come close to 1000 percent.
If you are offered an installment loan and have bad credit, you could also face higher interest rates than someone with fair or good credit. The rate will be lower than that of a payday loan but you would be paying it for a longer time.
One more negative to consider is the short loan term itself. Most $700 cash advances are due to be repaid within 10 to 14 days or on your next payday. This is why they have been coined “payday loans”.
Payday Loan Representative APR
The following rates are for informational purposes only. They do not reflect the rate that you may be offered by your lender or lending partner for your 700 dollar loan.
Example: $700 Payday Loan
Period: 2 weeks
Total Payments: $805
Period: 2 weeks
Total Payments: $840
4 Emergency Options When You Need 700 Dollars
Before taking out a loan, you should consider your alternatives. If it is ever possible to forgo a loan, you should do so. Here are some avenues that you can explore that might get you the 700 dollars that you need without a loan.
1) Cut Expenses
A dollar saved is a dollar earned. Here are some expenses that yo may be able to cut or at least reduce. Even if they do not get you the full 700 dollar amount that you need, they might reduce the amount that you ultimately need to borrow.
Cable or Satellite
If you can cancel your subscription for a few months without fees, this could save you a good deal of money. In lieu of that, some companies will allow you to suspend your service for a short time. During that time, you will not be fulfilling your contract requirement but it will save you money. If suspending your service is not an option, consider downgrading your subscription to the minimum package. Switch to basic and maybe cancel some of the receivers.
Did you know that most utility providers have what they call “equal month billing” programs. These programs spread the cost of high utility months over the course of a year. It can save you money on those crazy hot summer months or super cold winter ones. The program is free, so call your provider and see what they have to offer.
Loan & Credit Card Payments
Do you have an auto loan to pay and/or credit cards? Call your lender and ask if you can defer or skip a payment. If you are still current, most lenders will allow you to skip a payment every year or so. Credit card companies might not let you skip a payment but you can call and see if they will allow you to make an interest only payment.
Save money by eating out less and shopping the sales for groceries. Buy cheaper generic products and switch to cheaper staples like beans, rice and potatoes.
Also, consider meal planning. Meal planning is a way to eliminate food waste because you buy only the items that you need. Simply make a list of the meals, including snacks that you will make in a week. Then, buy only those items when you go to the store.
2) Borrow $700
Yes, I know that we are talking about alternatives to $700 loans but I am talking about borrowing money from free sources. Free is always better when it comes to loans. Here are some possible choices.
Friends & Family
Tread careful with your family and friends but if you are on good term, this could get you a no interest loan. Be sure to pay back the loan as soon as you can though to avoid hurting anyone’s feelings. There is nothing that can ruin a relationship quicker than money.
Many employers will allow you to borrow money against your paycheck. This is of no risk to them because you have probably already earned the money that you will be borrowing. They simply cut you a check and deduct it from your next paycheck.
There are now some apps on the market like Earnin that offer free loans. There are a bunch of hoops to jump through, but you may be able to use one of these apps to get at least part of the $700 that you need.
3) Sell $700 In Property
One final source of money is selling property that you do not need. Most people have something laying around the house that they can do without. This could be anything from old clothes to electronics. Here are a few choices that could get you some of the $700 that you need.
If you have designer clothing that you are not wearing, there are many second hand shops that will take it from you. Designer jeans, tops, purses and more can get you much of the money that you need.
Televisions, video game systems, etc. Look at places like eBay and Craigslist to sell these items. When selling on Craigslist, be sure to watch out for scams. Only take cash and meet in secure places during daylight hours. When selling on eBay, use the buy it now option to get your money faster.
Used Books, DVD’s, Bluray and CD’s
Yes, people still want these items, not everyone is straight digital. Used bookstores are all over the place and they can get you cash today. They might not get you $700 but they can get you some of the money that you need.
4)Hustle For Your Money
Sometimes, if you need 700 dollars now, you have to hustle for it. That might mean getting a little money in different places. Hopefully, it will all add up to the amount that you need. Here are some examples.
You can make up to $50 a donation and you can donate up to twice a week. As long as you are good with a needle, that is a great way to make the money that you need now and help people in the process.
Scrap metal is big business and you can usually find it for free. Pick up scrap from the side of the road, abandoned lots or in the free section on Craigslist. Then take the scrap to a recycler and get paid by the pound.
Sell Your Hair
Those long locks are worth money. If you are ready for a new look and need money, they can get you part of the way. Look online for a company that is willing to buy your hair and be sure to compare at least a few different offers.
Turn In Your Coins
Sure, turning your old change in is not going to get you the $700 today, but it is a start. Look for a Coinstar that charges a small fee for counting or find out if your bank has a machine. You might be surprised at just how much money you have just wasting away in the couch cushions.
Sell Old Books
Most large cities have a used book store and there are several national chains. These places need inventory and they get a majority of it from people like you. Dust off those books and magazines and bring them in for a cash offer. Every dollar counts, so do not forget the used DVD’s and CD’s.
Cash In An Old Phone
Ever heard of ecoATM? These little machines are scattered throughout the country and you can use one to get a cash offer on an old phone. Just bring the phone to the machine, place it inside and get a cash offer. If you like it, get your money immediately.
Do Some Day Labor
If you check the Misc. section of Craigslist, you can probably find some day gigs to do. These jobs pay cash and are usually pretty easy. If you are okay with manual labor, you can also check out your local day labor center. Most cities have one.
As you can see, there are a lot of ways to make the money that you need that fall outside of a traditional loan. If you need 700 dollars now, you might just have to go with multiple methods.
Even if you can not get all of the money that you need and still have to turn to a loan, every dollar that you can get elsewhere helps. Every dollar that you do not borrow is money that you do not have to pay fees and/or interest on.