I don’t know that there is any way to avoid them – those moments in life when you are suddenly short of funds and there is some emergency that you have to attend to financially. They crop up all the time, and however well you plan for them, they still catch you, and sometimes unaware.

Every so often, you may need to pay the kids’ tuition fees in college, purchase a piece of property, make some capital investment, build a home for yourself and your family, do some home improvement like kitchen remodeling or bathroom refashioning, or any of such projects.

Sometimes you actually have them all mapped out and you believe that nothing should go wrong. But out of the blue, the moment dawns on you and you find that you are in dire need of funds.

And especially worse if you don’t even have time to do jobs online that can get you the money you need. If you do have the time though, click here to read about the fun activities to do when you need money quickly.

But if you don’t have the time to do any extra activities to get money, fear not. The credit industry in the United States has come a long way since it was practically institutionalized as the backbone of capitalism some two hundred years ago.


Today, you can get almost any kind of credit or loan that you need, from fast loans to mortgages, to cash advances, and all of that.

As a matter of fact, the internet has made it all easy. You can now apply for loans over the internet because just about every credit institution in America today has its services online.

The thing you want to watch out for when you are opting for an online loan is the interest rates that are charged by some of these credit institutions.

There are regulatory bodies that govern how much interest may be charged per loan or loan type. The amount of the credit you are seeking too has a hand in influencing the interest rate offered to you, but perhaps the most important factor that affects the interest rate on any kind of loan is collateral.

Collateral is security pledged for the repayment of a loan that you offer to the credit company that is extending you a loan as a guarantee that you are going to pay back that loan. If for some reason you fail to make the payment as agreed upon in the terms of your contract, the creditor has the legal right to take the collateral and sell it for proceeds that will make up for what you owe.

When there is collateral the loan is called a secured loan, and the absence of collateral makes the credit advance an unsecured loan.

A secured loan tends to attract lower interest rates than an unsecured loan does. That is how it has been for years, and it remains like that still, even for online loans.

When you apply online for a loan, you have to be able to present the papers of your property to the lender so that they can check to see if you are for real; you may even have to fax it to them.


When you get the loan, they hold on to the deeds until you have paid up. If you fail to pay up, they foreclose on your property. It’s that simple.

When you make a habit of not paying back the money that you owe to a credit company, you amass yourself a record known as your bad credit score. Basically what that does is that it helps any other firm you are trying to lend from deciding whether you are worth the loan or you are not.

With a bad credit score, they’ll either turn you down or up to the interest, which I am certain you do not need. However, if you have collateral, even with bad credit, some credit agencies online will still be willing to lend to you.

It is not 100% foolproof, but it works. If you want a 100% guarantee that you will always get a loan when you need one, repair your credit.