Nearly everyone experiences a cash flow emergency at one time or another. It’s usually related to an emergency or unexpected financial burden. You may become sick and miss work, which reduces your income. It could be the vehicle you rely on to get to work breaks down and needs costly repairs. Household repairs are another source of unexpected financial hardship for many people.

One of the biggest differences in how people handle cash flow emergencies has to do with their credit history. If you have several credit cards, you may be able to use one to pay for car repairs, purchase groceries, or even for a cash advance. If you have little or very limited credit, you do not have this option.

If credit cards are off limits, you may need to consider a short term or payday loan to handle your financial crises. You can borrow from short term loan lenders either online or in person. Either way, the process will be fast and easy, and you will have your cash in 48 hours or less in most cases. All that is usually needed is proof of steady income and a checking account.

The biggest drawback to payday loans is the fees associated with this type of borrowing. You can expect to pay substantially for the privilege of borrowing without a credit check, but many states are now regulating the amount that can be charged. In the end, if you do not have a choice and are truly in a cash emergency with no other options, it will probably be worth it to you to pay the cost of your short term loan.