Help With Back Rent
Unexpected medical bills or a major car repair can take a real toll on your budget. If you’re living paycheck to paycheck, you probably have to hold off on paying other essential bills to deal with the circumstances. Your creditors may be understanding at first, but unless you’re able to resume making payments soon, you may find yourself facing serious financial consequences. And if one of those creditors is your landlord, the consequences could be especially severe. LoanNow can provide help with back rent to put you back in your landlord’s good graces.
For many people, banks represent the traditional source for loans. But turning to loans for help with back rent can be problematic. Banks typically demand borrowers present good credit profiles and high FICO scores, which may not be the case if you’re dealing with a financial emergency. Borrowers who do meet the underwriting criteria for bank loans still face lengthy waits – many bank loans require weeks to process. That’s time many borrowers facing the prospect of eviction simply don’t have.
The Quick Money Trap
Tenants who are desperate may turn to quick money options for help with back rent. None of these apparent solutions are ideal, but some are definitely worse than others. Some landlords accept credit card payments, which presents a solution for tenants whose plastic is not maxed out. Other tenants may turn to credit card cash advances, which carry higher APRs than purchase transactions, with interest that is often imposed from the very day the advance is taken.
For tenants whose credit cards are maxed out – or who don’t have credit cards at all, quick money options are even less desirable. Pawn shops and payday loans provide loans with few or no questions asked – but at a very high price. Pawn shops require borrowers to surrender their property as collateral, while payday lenders charge prohibitively high interest rates and impose unrealistically short repayment periods on borrowers – and trap borrowers who can’t repay their loans on time with rollovers.
The LoanNow Difference
LoanNow provides real help with back rent, processing your loan application within 24 hours† – not weeks. And our loans carry manageable repayment periods measured in months, not weeks or days, and we never require collateral If your credit is less than perfect, don’t despair. We look past your FICO score to consider your entire financial profile – we say yes when many banks say no. Why not give LoanNow a try?