In Which Situations Are Quick Cash Advances Recommended?

Quick cash advances are highly expensive and risky. They are rarely recommended as a viable option for financing. However, there are a few desperate situations when you may consider a cash advance in order to protect yourself from further negative consequences.

  • Avoiding default - If you have a loan very near default and cannot find any other source of cash to pay the loan, you may consider a cash advance. Of course, if you cannot pay the cash advance back in the future, then you will be in a worse situation. This should only be a default protection option if you know beyond any doubt you will have cash to pay off the advance at some point in the near future.
  • Meeting essential expenses - There are some essential expenses that simply cannot wait, such as medical treatment or paying rent to avoid eviction. You should always attempt to establish a payment plan with the lender first. Most doctors and hospitals will work with you in order to help you pay bills. Many landlords will do the same. If you have exhausted these options, though, then a cash advance may be necessary.

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