We normally wouldn’t advise people to put their trust in looking for a quick term solution to a problem like debt. For some people using these platforms can result with being embroiled in a debt cycle where you see yourself paying larger sums at a more frequent rate with less chance of getting yourself out of debt. For some people though, these avenues provide them with quick access to cash. We’ve decided to list some of these different options to money below with some info about their usage.
Have something valuable? You can use it at a pawnbrokers. They’ll give you a short term loan in exchange for your valued items. If you’re then able to pay back the amount plus interest by a certain date you get it back. If not, they’ll sell it on. The pro with this is if you know you’ll be able to pay it back then there’ll be no problems. The con is that the rate of interest can be extremely high compared to other methods of borrowing money.
Cash For Gold
Shops and stalls providing this service popped up all over the high street a few years ago. The trend seems to be dying down but there is still demand for it in the market. Before going to the first one you see, search online and see if you have any reputable sellers nearby. When you know what you’re going to sell understand that once the transaction goes through that’ll be the last time you see your jewellery. We recommend checking the price online beforehand if you know what carat it is.
They’ve received a lot of criticism this past year, but these stores still seem to be very popular. If you’re considering using one understand that they’ll gloss over a few things. You’ll get the money there and then but it will come with an extortionate rate of interest (we’re talking 1000%). Make sure you never agree to a direct debit as you’ll end up a lot worse off than when you started. A lot of people who’ve used these to sort out debts have ended up in worse condition.
There are always options available and sometimes downsizing your property is an option that could reduce bills and free up capital. You can look for a local estate agent in Saltash to discuss the best options available to you.