 TITLE: What to Consider Before You Get an Emergency Loan CONTENT: What Are Other Ways to Access Funds Quickly?\n--------------------------------------------\nBefore you pull the trigger on an emergency loan, here are some alternatives that could save you money and make your life a little easier.\n*   **0% APR credit card**: If your credit score is considered good (that's a FICO® Score of 670 or higher), you may be able to qualify for a credit card that offers an introductory 0% APR. These promotions can last anywhere between six and 18 months, which gives you time to cover your expenses and pay off the balance interest-free. Just keep in mind that cash advances aren't included in a 0% APR promotion.\n*   **Medical bill repayment plan**: If your emergency involves medical bills, speak with the medical provider about payment plan options. Some will allow you to pay off your medical debt interest-free with predetermined installment payments.\n*   **Income-driven student loan repayment plan**: If you're considering an emergency loan to cover ongoing expenses, getting a break on your student loans may help the cause. If you qualify, your federal student loan may be eligible for an income-driven repayment plan that can reduce your monthly payments to a percentage of your discretionary income.\n*   **Personal loan from a family member or friend**: Asking family or friends for financial help can be tough. But if the alternative is high interest, crippling debt, it may be your best option. To avoid any future quarrel, iron out when you'll repay them and with what, if any, interest beforehand, and be sure to stay true to your word.\n*   **Home equity line of credit**: Also called a HELOC, this option typically comes with a low interest rate because it's secured by the equity you have in your home. The only catch is that you typically need to have a HELOC in place already to gain access to funds quickly—you may even get a debit card tied to the account that you can use to make purchases or get cash. If you don't have one, it can take a few weeks to close on a HELOC. Also keep in mind that if you don't pay back the loan as agreed, you could lose your home.\nAs you consider these options, think about your needs and the option that's best suited to solve your cash flow problem without putting you in a much more difficult financial spot going forward. END