Financial struggles continue – things to do now if you face a $1,000 emergency situation

Midday News

Richard Chew

http://www.1stcig.com

Things to Do Now If A Person Is in This $1,000 Emergency Situation:

  1. If it’s medical, appeal to the provider for a 30-60 window to pay them.
  2. Home Equity Loans are going to have lower interest rate.
  3. Credit Unions are often more flexible and faster. 
  4. Life Insurance Cash Value– if you have a policy that has cash value this could be an option.
  5. 401k Emergency/Hardship withdrawal if you are employed and your employer allows it.
  6. Sell Stocks– If you own stock and can sell some of your shares then that can also be an option.
  7. Family & Friends & Church – lean on those community resources that could help.

Most important thing is to slow down and think what your options. Explore the easiest, quickest options, BUT stay away from PayDay Loans.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Popular

Latest News

More News