Securing Financial Relief for Unexpected Expenses

Disclaimer: Customers were compensated for sharing their experiences. Content edited for clarity.

 

If an unexpected bill comes your way, do you have money saved in your emergency fund? According to a recent survey, roughly 4 out of 10 Americans would have a difficult time covering an unplanned $400 bill.1

Although you may not be able to prevent unplanned expenses, you do have options to help cover bills when your bank account is low. Read on for three real-life experiences from CashNetUSA customers who took control of their finances.

 

Borrowing Money to Cover Unanticipated Car Repairs

Dan, a special education teacher and gardening enthusiast, was looking for financial assistance to help cover an urgent and unexpected car repair.

I was so worried because the unfortunate thing about the COVID crisis is yes, teachers were getting paid at the time, but if you don’t know, a lot of teachers have second jobs. And unfortunately, I lost my second job […] in retail.  […] There just isn’t that demand anymore.

Although Dan lost his second job amid the pandemic, his bills and other financial responsibilities didn’t slow down.

Unfortunately, due to the COVID crisis, we weren’t really able to keep up with that. Wasn’t able to pay for some of my bills. I had to help pay for some of my mom’s bills, she’s retired.

Dan’s car needed urgent repairs, and he ended up with another surprise bill.

The job that I work at is actually in a rural community. So, there’s plenty of animal life between here and there. And on the way home, a deer ran out in front of me. And unfortunately, I hit it. I had to pay $500 and $500 is a lot to come up with out of nowhere. So I reached out to the CashNet[USA]. Again, they were really easy. They got me taken care of. […] And after that, it was super easy.

After searching for a loan, Dan was happy to find a lender that would issue funds quickly.

I felt really relieved because I knew I was going to be able to get my car back. […] So, it really gave me that sense of not only confidence, specific security, knowing that I was able to rely on this cash in order to meet my needs in an emergency situation.

 

Borrowing Money for Unplanned Family Expenses When the Emergency Fund is Low

Catherine is a busy mom of two children, and a city government worker from Louisiana who wanted to increase cash flow and make room to cover unforeseen expenses.

I guess it was just trying to make it from paycheck to paycheck. I just find as the kids get older, the needs just get greater. They’re at school and they don’t work and they always need help.

Although she budgets her money and watches her cash flow, surprise bills landed in her mailbox.

[I] needed to make a repair; some unexpected expense and it was a relief to me that I was able to take care of things. 

Catherine appreciated the fast and easy application process of applying for an online loan.

CashNet[USA] was very convenient and very easy. I really liked that I could just do it online because it didn’t take a lot of time. I didn’t have to physically drive anywhere and have it take a lot of time out of my day.

I called [other lenders] but they [have] a retail store. I thought it was weird. They required all of this documentation and it seemed excessive. They seemed like they were doing me a big favor and I was a big bother. They weren’t able to answer my questions over the phone; they just wanted me to come in. That’s just not how I would like to do business. 

Catherine likes having access to funds in case an unexpected bill arrives.

I think CashNet[USA] has been a positive influence for me. I learned that I had that option available to me. I learned how to work with what options they had that would help me. When they switched to the line of credit, which is amazing because if there is something that comes up, you can access your line of credit and if it’s early in the day, you can get your money that same day which is sometimes a lifesaver depending what’s going on. Or the next day, but it is great to have an emergency fund.

I’ve gotten a whole lot better since I first started with CashNetUSA, so that’s a good thing. I really feel that it was a relief to have CashNet[USA] as an option to help bridge those times when I needed a little bit more cash.  

As a result of taking out a loan, Catherine has been able to keep her finances in check.

I haven’t been behind a bill in years. I keep up with all my bills. My credit score has improved because if you pay your bills on time that always helps. I still want it to be higher, so I am still working on that. Being able to consistently pay my bills every month is a big thing.

Borrowing Money to Eliminate a Smaller Bill

Trudy, a single mother from Kansas, looked for financial assistance when her work situation changed and she needed to pay off a bill.

I lost one income and then I changed jobs because […] the school district wouldn’t give me a raise after so many years, and I was training people to come in as new drivers at the same rate I was working in. And I felt that I deserved more, being as I’d been there 16 years. And they didn’t see it that way. They told me, “There’s the door.” So, I left and went to another company.

Changing jobs can be stressful, and may even lead to a temporary lapse in paychecks. Regardless, financial responsibilities and other bills don’t stop coming in. Trudy used CashNetUSA to help cover bills and catch up on her finances.

Well, I had a bill that was nagging me, and I just wanted to get it paid off and […] get it taken care of[…]. I just figured with this [loan] I could get it taken care of and all that interest didn’t add up.  

Trudy was put at ease when she found the relief she needed with a CashNetUSA loan.

They were there to help you. They’ve been, like I said, really, really phenomenal. […] They treat their customers good. 

 

References

1Federal Reserve. (2019). Report on the Economic Well-Being of U.S. Households in 2018 – May 2019.

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Bonnie is a Chicago transplant who's committed to seeing the world on a dime. As an avid news junkie with a fascination with finance, she loves to help others do more with less.

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