If you ask your friends or family for money in a time of need, it may benefit you. Use an agreement that contains a payback timeline, interest rates, and any other necessary data. Consider it a loan from a traditional money lending institution.
In certain circumstances, your relatives or friends may be prepared to accept services in exchange for monetary compensation. If this is the case, negotiate with them to ensure you both get a fair deal.
- Reduce Your Expenses
Freeing up finances elsewhere can be the best solution if you simply need a small sum of money. If you have poor credit but assets that may be liquidated, you may be able to sell expensive items. Furthermore, your credit card company may be able to assist you with a disaster plan that reduces your interest and premium. (more…)