Four Easy Ways to Put a $5,000 Loan In Your Pocket

These last few years have been financially tough for everyone. Loans and lines of credit are hard to come by. A consumer with a bad credit background is going to find it next to impossible to get a loan from the typical neighborhood financial institutions such as banks or credit unions. If you have credit problems and urgently need some extra cash to keep your life on an even keel, you do have some alternatives. Here are four easy ways that could put up to $5,000 in your pocket or purse.Try a Friend and Family LoanIf a really important financial emergency happens to you such as needed medical procedures, the car breaks down, or an unexpected bill suddenly comes due, asking your friends or family for help should be your first option of four easy ways. They understand the issues in your life and they should be very willing to help you out. If you ask for a $5,000 loan from your folks, be sure to set up a payment plan, and stick with it, and even offer to pay some interest, though they will probably decline that offer.Bosses Often Help EmployeesShould, for whatever reason, friends and family cannot come through with the cash you need, or if you are too embarrassed to ask them, you should approach your boss or the company that employs you. Many employers often supply loans to the good folks they employ as a part of a loyalty or motivation package. Repayment terms on $5,000 dollars for an employee with bad credit can be quite easy, usually have very low interest rates, and they can be painlessly removed from your paycheck every pay period. Often, very large firms offer loans with no interest at all.Non-Traditional Lenders Can HelpSome financial businesses are able to extend credit to folks with bad credit histories. They offer loans that are usually referred to as cash advances or payday loans. The credit they offer is done so on a short-term basis. No credit check is required and they can offer amounts as much as $2,000, and even more in some cases. As a consumer with bad credit seeking a $5,000 loan, you should be aware that the interest rates are rather high because of the risk to the business. And, the time frame for repayment is usually about a month. Sometimes extensions are available. You can often do business with these types of institutions over the internet in the comfort of your own place.Cash for Collateral OptionDo you have some valuable assets? A paid-off car? An heirloom silver service? A house? If you have some valuable collateral, online lenders, pawnshops, and sometimes even banks or credit unions will provide loans. If you have equity in your home, or a car under no lien, you should try to get a loan from a bank or an online lender. Sometimes loans secured with collateral can be done in the same day and allow you to get $5,000 or more even if you are a consumer with bad credit. Pawnshops can provide a fast and worry-free loan -- sometimes within an hour. Getting your collateral to the shop is the biggest step.Being a consumer with a bad credit past does not mean you cannot find money when you need it. Financing venues are out there to help you. You just need to know which doors to knock.