3 Ways to Get Cash When You're Broke with Bad Credit

Posted on: 3 November 2015

There may be times when you are low on cash and have an emergency, requiring you to come up with the cash that you need fast. If you are in this type of situation and you don't have a high enough credit rating to get a small personal loan or you don't have any credit cards, there are a few other options that you can try.

Consider finding local service providers that offer cash loans, a business that will pawn items for cash, or a place that buys gold. There are benefits to all of these choices.

Cash Loan

If you need cash and you don't have anything that you can pawn or sell, a cash loan can help. You can get this loan by promising to give a company like Advanced Pawn Shop the payments with the money back on your next pay day or your next couple of pay days. You will have to give the company your checking account information and proof of income, and they will automatically withdraw money from your account when the payments are due.


Do you have something that is valuable that you don't want to sell but you could pawn? This means you let the pawn shop hold onto it and they will give you cash for the item. If you come back and pay them what you owe, you get to take your item back home. If not, they keep the item. Be careful in choosing what you pawn in case you can't get it back.

Sell Gold  

Do you have any old gold jewelry, gold coins, or other gold items that you could sell for cash quickly? There are many companies that are always looking to buy gold, even if it's just a little bit. Go through your old jewelry and heirlooms to see what you may have lying around.

Once you have decided what is going to work the best for you, you can take the cash and pay the bill that you need to pay. Paying back the money you owe on a cash loan will help improve your current credit score if they report the loans to a credit bureau, and paying the money back will help you establish trust with them if you have to borrow more money in the future. These are ideal options if you have no other way to get the cash you need.