 TITLE: What Is a Cash Advance and How Does It Work? CONTENT: Better Alternatives to a Cash Advance\n-------------------------------------\nA cash advance should be a last resort for a financial emergency. Instead, consider.\n*   **Borrowing from friends and family**: You may be able to borrow from a family member or close friend to cover your emergency. Always write up a loan agreement and repay the loan.\n*   **Lending circles**: Lending circles are small groups of individuals that pool money and lend it to group members, often at low or no interest. Mission Asset Fund is one organization that facilitates lending circles; community organizations or nonprofits in your area may offer others. If a lending circle reports to the three consumer credit bureaus (Experian, TransUnion and Equifax), paying off their loan could help improve your credit score.\n*   **Debt consolidation loans**: Debt consolidation loans are personal loans used to consolidate debt, such as high-interest credit card balances, into one new loan. Getting a debt consolidation loan at a lower interest rate than your existing debt reduces your payments, making it easier to save for emergencies or pay down debt. You're more likely to qualify for a debt consolidation loan if you have a good credit score. END