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1 year, 8 months ago via credit-qna.com

What is the quickest way to raise 300 dollars legally?

A friend needs to pay a bill quickly. She is stubborn as a mule and will not ask for help as she prefers to be independent. She needs 300 bucks by the end of the week. She could never get a loan from a bank this quickly and her employer pays biweekly.

What are some ways for her to get this money legally?
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cheapgamer's Avatar
cheapgamer | 1 year, 8 months ago
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Your friend may need to swallow her pride. At this point her best options are the following.

1) A personal loan from a friend or family member
2) Liquidating an asset or assets
3) Doing one or more odd jobs to get $300
4) A paycheck loan

The list is in order.

Option 1:
A personal loan from a friend or family member
Pros: This would likely be a no-interest loan, that could be paid back to a flexible friend or group of friends over time.
Cons: Personal loans of this nature may strain friendships, particularly if she is unable to pay it back.

Option 2:
Liquidating an asset or assets.
Pros: Chances are she has more than $300 worth of stuff. It is also likely that there is a pawn shop not too far away.
Cons: She does not have time to use Ebay to get a price she wants and with the deadline looming large she must take what she can get. If she sells items of sentimental value she may later feel guilty about it. If she sells something she may need later she will have to buy it back at full price. Pawn shop owners can smell desperation a mile away, she should not make conversation and reveal her need for the money.

Option 3
Doing one or more odd jobs to get $300
Pros: She has nothing to pay back, and nothing to loose
Cons: She needs a very salable skill, available consumers and the time to do this. That she would even be in this bind tells me she may not have the skills or customer base for this to be a viable option.

Option 4:
A Paycheck loan.
Pros: There are lots of blood sucking services willing to do this kind of thing, if she shops around she may find one that won't take advantage of her too badly.
Cons: These groups prey on the poor, making them poorer buy charging brutal interest rates on a loan that only serves to put them in debt in the long run. This supports a wholly legal, but terribly unethical loan practice. She still hasn't actually added $300 to her income. She may have only purchased time.
NOTE: Some employers have an early pay option too, these will be something that HR has to approve. If she does get approved for it her employer gets to know about a weakness in her finances and this could be considered a mark against her.

You may need to take the reins on this. I encourage you to talk to the people who are aware of her need and ask if they would chip in on a gift (NOT A LOAN) of $300. The fact that it is a gift means that there is no hard feelings if she can not pay it back right away or ever. If you tell her to pay it forward and help a local food shelter for a day or give $300 to charity when she can, it may take the sting off of the bruised pride by letting her work it off without being in debt to her friends and family.

NON-Option 1:
At some point someone is going to say, find a sure bet to gamble on, don't listen.
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kerryk | 1 year, 8 months ago
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This is a tough situation since your friend has too much pride to ask anyone for help. But there are a few things she can do. If she has anything that she can sell that she doesn't need, she could possibly sell it quickly to raise the money. But since it appears she needs the money right away, that might not be the best approach.

If she has a credit card, she could get a cash advance on that. Many cards, such as Discover and Chase give users checks that can be used in this manner. Of course there is a fee involved but your friend needs money quickly and these checks should be used for emergency situations.

If she cannot get any money by either of these methods, perhaps she can ask for a grace period on her bill or just pay part of the bill and the rest at another time. Depending on what the bill is for, arrangements can be made to make smaller payments. That shows that the person is trying to make the payments during financial hardship.

http://www.juddlegum.com/blog/wp-content/uploads/2009/02/money.jpg

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emilylengriffin | 1 year, 8 months ago
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Go to amscot or a similar place and get an advance.
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ai-ai | 1 year, 8 months ago
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I agree with @cheapgamer much. Your friend needs to swallow her pride and must admit that she needs immediate help. And to legally raise $300 means she should accept the fact that she needs money and right now. I myself also have pride but when I know I can’t make things work by myself anymore then I would humbly ask my family or friend’s help. If they don’t have the money then I’d ask them to help me where to get it. Pride kills. A lot of people die because of pride. They think they are strong for not showing the world they’re weak and many ended committing suicide. On the other side too, we should also not be parasites, lol. We should also know how to find ways – well if I can describe it as “professionally” then that is it. She should ask the family and friends’ help because they’re the closest people who can understand her and she will pay it so it's okay.
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stevend88 | 1 year, 8 months ago
2
I would advise you to apply for 1 hour payday loans. It's very fast and absolutely legal. Besides, the necessary amount of money is not large, so the interest rates won't be too high. It's very easy and, as for me, it's the best way out in your situation.

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jt3's Avatar
jt3 | 1 year, 8 months ago
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Well being that she doesn’t want to borrow from family or friends I guess she could consider either of the following:

1) If she has a credit card she can use a convenience check to deposit into her bank account and the amount is small enough that the transaction will post the next business day. This is a good option because the credit card company uses offer a low or (0% APR for this kind of transaction.

2) She could take a cash advance on of her credit cards. She can just go to the ATM and, punch in her pin number and the access the needed funds that way. However, the APR for cash advances is usually higher than that of purchases or balance transfers.

3) Another option is a pay day loan but these loans often come with high interest rates as well.
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Owls's Avatar
Owls | 1 year, 8 months ago
13
Pawn something. Quick, private, cash!

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