Using Low-Income Loans To Cover Basic Living Expenses

Handling basic living expenses can be difficult if you have a low income. However, you don’t have to struggle with these expenses on your own! You can come to see us at Cash Cow to get one of our low-income loans to help you out. We offer you title loans or payday loans to help you handle your basic expenses quickly so they don’t get worse. But what kind of expenses can our low-income loans help you handle? Keep reading this article to find out and learn more about our loans right now.

What Kind Of Expenses Can Low-Income Loans Help With?

1. Housing

Firstly, you can use one of these loans to cover your housing costs. That could include paying your rent and any related fees to avoid eviction. This can also include paying for utilities that you have to maintain. Missing rent or utility payments can completely disrupt your and your family’s lives. This is especially true when it comes to utilities because you can get interest-tacked on as well. This is a good reason to get one of our low-income loans to help you out.

2. Food

Paying for food is another basic living expense you could cover with one of our helpful loans. You know how important it is to keep your family fed so they can continue to go through their day. This means you can’t go without food just because you don’t have the money to pay for it. Whether you desperately need to buy groceries or you need to repair your refrigerator before all of your food spoils, you can get these emergency loans for low-income families.

3. Clothing

People sometimes find themselves in urgent need of clothing for a variety of reasons. Maybe your clothing was destroyed in a flood or in some other way. You know you can’t go without clothing, so getting a low-income loan from us can help get you new clothes. Keep in mind that these loans are for emergencies only. This means you should only purchase clothing with these loans if you absolutely need to. Do not use these loans for things like shopping sprees.

4. Transportation

The ability to get from Point A to Point B is another basic living expense that must be paid. Whether you use public transportation or need to keep your car functioning, a payday or title loan could help to keep you mobile. Remember that title loans require you to show us your vehicle because we use it to determine how much we can lend to you. This means you might lean more toward a payday loan if your car needs repairs.

5. Healthcare

Falling sick or suffering injuries will likely leave you with a costly medical bill. Even if you have the insurance to pay for it, you might still be left with an expensive copayment. You know you can’t ignore injuries or sicknesses because that will only allow them to get worse – which could mean an even more expensive trip to the hospital. A quick, low-income loan could help you settle those costs quickly so you can focus on your recovery.

6. Home Repairs

The last basic living expense our low-income loans can help you with is getting emergency repairs. When your home experiences some damage and needs your immediate attention, our loans can make those expenses much easier for you to manage. You can never ignore a hole in your roof or broken windows, so getting one of our loans at Cash Cow can really help you fix up your home!

What Loans Can You Get With A Low Income?

Now that you know what kind of expenses you can handle with our loans, you should know more about our loans so you can decide which one would be best for you. It’s crucial that you understand the differences between these two low-income loans so that you can get started with the right loan process with us. Both of these loans have a lot in common. For example, they both have a short list of requirements to find out if you qualify for approval.

If you are approved for either loan, you could get the money as early as the same day or by the next bank business day at the latest. That means you could use them to borrow money when you need it urgently. Still, each has unique traits that suit different needs. Depending on your specific needs and preferences at the moment, one of these loans could be a better option for you than the other. Here’s how they differ:

• Title loan: This type of loan requires you to use your lien-free car title as collateral to secure the loan. We also use your car’s condition and resale value to determine how much we can lend to you. So, depending on your car, you could qualify for up to $1,400. You should also know that we might have to check your credit when you see us. However, that doesn’t mean you can’t get this loan if you have poor credit.
• Payday loan: This type of loan doesn’t require any collateral. Instead, we look at your income and your ability to repay the loan. If you are approved, you could get up to $300, which you will have to repay by your next paycheck from your job – which is usually in two weeks. And unlike title loans where there is a possibility of a credit check, we won’t check your credit for this loan. In fact, we won’t report your loan to any major credit bureaus.

Get The Low-Income Loans You Need Today!

Using low-income loans to cover basic living expenses could be a helpful short-term strategy. We here at Cash Cow can help you do that with a title loan or payday loan, and you only need to provide a few required items to get through the process and find out if you can qualify for either loan. Take the first step whenever you’re ready by using the simple online request form to send your information in. Soon after you do that, a friendly representative will call to guide you through the remaining steps!

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.