We would all like to lead a perfect life. The kicker is, life is not so perfect. We all make mistakes, and some can be harder to dig ourselves out of than others. When talking about finances, some hefty mistakes come along with debt accumulation. It can make our credit bad. Add being a single mother to that, and one emergency can put a halt to your livelihood. If you’re a single mother, who has fallen on hard times, do not be afraid. There are ways to get good emergency loans for single moms with bad credit. Follow along to find out how.
What Kinds of Loans You Should Look For?
There are all types of emergency loans for single mothers out there. If you are looking for one, do not get roped into one that will plunge you further into debt. This means to steer clear of high-interest loans that take advantage of you. Find emergency loans that allow for no collateral down, low-interest rates, quick approval, and no credit checks. This ensures you get your money when you need it with favorable terms and limited obstacles.
Where to Find Loans
A quick Google search will turn up many results. They aren’t all made equal. Some of the best emergency loans for single mothers include Payoff, which has a fair APR when considering where others top out. It also has a loan repayment term between two and five years. Another option is Best Egg. It has comparable terms to Payoff with lower APRs and generous repayment terms. For more options, you can check out this link.
If you are worried about paying back a loan and have some time before you truly need money, try government programs. If you need things besides money like food or housing, you can apply for programs like SNAP, HUD, and childcare subsidies. Just need the cash? You can get up to $1,000 through the Diversion Cash Assistance Program (DCA). You can also get help from TANAF, and the Low Income Home Energy Assistance Program, which offers a one-time payment towards utilities. For a list of other grants, check out this link.
Shatel Huntley has a Bachelor’s degree in Criminal Justice from Georgia State University. In her spare time, she works with special needs adults and travels the world. Her interests include traveling to off the beaten path destinations, shopping, couponing, and saving.