Sometimes you can have a job for years and even have a checking and savings account but still not be able to get a quick personal loan from your bank. Anything can damage credit from medical bills to divorce. A layoff caused us to have a car repossession and some defaults in our credit obligations a few years ago. Our credit is still not back to a good number. However, we got in a bind and needed cash loans twice since our credit was damaged. We got the payday type of cash advance loans to help us get through the rough times.
Of course, if we had great credit, we could have gotten a longer term lower interest loan. Still, we were very grateful to have access to the quick money when we needed it. We initially went to the bank and they told us they would get back to use in a few days. We did not have a few days to wait. We needed to get the car fixed immediately so we could get to work. We are happy to report that the cash loans place hooked us up with the money we needed to pay the repair bill quickly. We only lost one shift of work between the two of us. If you are in a situation like this, you know exactly what I mean. It is a day to day struggle, and being strapped for cash is part of those days.
It is so hard to dig yourself out of debt once in it. However, we are making slow and steady progress. We do not have any savings to handle emergencies like the one that cropped up unexpectedly with our car. Someday in the future we plan to. Right now all of our money is going to daily expenses and paying off old debt. You do what you have to do when faced with things like this.