Paying the rent can be tough in good times, but when the economy has taken a turn for the worse and unemployment is high, it can be a real struggle for some. Individuals may find themselves in this situation because of unexpected bills, a job loss or a less-profitable month at work. Regardless of the cause, there are several ways to approach the issue, depending on the severity of your situation and how much time you have to raise the money.
Instructions
1. Offer to perform, in return for payment, tasks for people who have difficulties or could use your help. This includes errands, home repairs or cleaning for elderly family and friends, babysitting, making home-cooked meals for new mothers and their families, driving people places, watering a garden, walking pets and pet-sitting.
2. Take some of your belongings to a pawnshop and request a loan. This can provide you with quick money, but be careful with the collateral you choose because you do not want to lose important family heirlooms if you will not be able to pay back the loan. If you have no strong attachment to the possessions, you might also try to sell them to raise money.
3. Take a loan from your 401k plan or whole-life insurance policy. Speak with your broker or financial adviser about these options, and keep in mind the process usually takes several days to complete. Ask about the interest rate, when and how you should repay the loan, and the penalty for not repaying the loan.
4. Investigate payday loans. These are short-term loans that you often can get without a credit check. This option has its definite drawbacks, though. Payday loans have notoriously high interest rates, and some people see their loan and interest balance grow faster than the amount they can afford to pay, creating a cycle of constant debt that many find very difficult to end.
5. Contact your state or county community services. Each state might call this something different, but generally, look for state and local programs that offer cash rent assistance that does not require any repayment. Some states might have you work through Social Services to get rent assistance. Many community organizations have programs to prevent homelessness, help people avoid eviction and provide motel vouchers if the emergency situation does not resolve favorably.
6. Call "211" on your phone, or type "cash rent assistance" and the name of your city or county into an internet search engine. The 211-number takes you to a food and shelter resource center in your area and the program is sponsored by the United Way and the Alliance for Information and Referral Systems. The Internet search will show you which agencies in your area offer emergency cash rent assistance and other services.
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