6 Easy Ways To Get Emergency Financial Help ASAP
Nobody has to struggle financially alone when there is help available. The various departments of the American government and private organizations provide a wealth of emergency financial help to citizens everywhere. Whether you don't have enough money for child care, can't afford to pay for food this month, or just need to meet an unexpected payment, you can get the assistance you need. And we're going through six ways to get financial help in the following sections.
Learn About These 6 Ways To Get Emergency Money
From government-funded programs to privately organized loans, you can obtain money when you need it most — you just need to know where to look. And once you know your options, you are free to choose whichever will best help your situation without having to stress yourself out! Keep reading this article to learn about your six main options that you can get the emergency financial help you need.
1. The Low Income Home Energy Assistance Program (LIHEAP)
The Low Income Home Energy Assistance Program, often shortened to LIHEAP by officials, is a federal-government-funded program that offers financial assistance to low-income households to cover cooling and heating costs. All the grants are issued at state level. The state governments receive funding from the Department of Health and Human Services. In Louisiana, you must meet the following criteria to get this emergency financial help:
- You must be responsible for your home's energy bills.
- You must have an active heating and/or cooling account.
- You can only receive one LIHEAP benefit each season:
- Heating from November 15th to March 15th
- Cooling from April 1st to September 30th
- Crisis from October 1st to September 30th
- You must also be 60% below the state medium income level, which depends on the number of people in your household. For instance:
- One household member = $26,040 annual income limit
- Two household members = $34,053 annual income limit
- Three household members = $42,065 annual income limit
2. The Child Care And Development Fund
The Child Care and Development Fund gives financial relief to low-income families with children. It's administered by the United States Department of Health and Human Services, offering states, tribes, and territories money to give to families for childcare. Like most government-given grants, it's income-based and often only provides emergency financial help for households with children under 13 years old. Make sure you apply for the Child Care and Development Fund that's offered in Louisiana.
3. 0% APR Credit Cards
If you have a good or excellent credit score, you can probably qualify for a credit card that comes with an introductory 0% Annual Percentage Rate (or APR) promotion. Depending on the provider you choose, you can utilize it for emergency expenses and receive anywhere from six to 20 months to repay it without interest. However, it's worth noting that it could take a little while (sometimes up to two weeks) to receive your card once you've gained approval.
If you need emergency financial help sooner, you will likely need to get in touch with the card issuer to enquire about expedited delivery. A few providers, like American Express, could offer you instant access to your card information, allowing you to utilize it online before receiving the physical card. That said, as long as you can afford to wait for the card, it's a great option for those with ideal credit scores.
4. Home Equity Line Of Credit (HELOC)
Your next option for emergency financial help is a Home Equity Line Of Credit – or a HELOC. A HELOC is a line of credit that's secured by the equity in your home. They often come with single-digit interest rates as they're risk-abated by collateral (i.e., your house). However, if you don't pay back your debt, you could lose your home. Make sure you can pay back the loan and this’ll be a good option to help you out.
5. The Supplemental Nutrition Assistance Program (SNAP)
The Supplemental Nutrition Assistance Program is another way to get emergency financial help when you need to go grocery shopping for nutritional food. SNAP is for families who meet Louisiana's income requirements in their state. It provides assistance for purchasing nutritional food every month through EBT or Electronic Benefits Transfer. It's like a debit card and can be utilized in authorized stores.
6. Online Title Loan
If you are going through a real urgent emergency, you’ll need money quickly. When that happens, you can get an online title loan from Cash Cow. Online title loans allow you to use your vehicle’s lien-free title as collateral to get around $300 - $1,400. Plus, you just need your vehicle, your lien-free title, and your driver’s license or state-issued photo ID to find out if you qualify. Fill out the online form on our website to get started and receive a call from the nearest Cash Cow location.
Get The Emergency Financial Help You Need Today
All six options are excellent ways to get emergency financial help as soon as possible. So, as you can see, you don’t have to handle any emergency situation alone in Louisiana. However, these options might not get you cash as quickly as you may need. If you need money quickly to handle your emergency expenses, an online title loan from us is always an option to consider. If you're in a pinch and need cash quickly, complete our request form to get started.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.