There are times in life when we may encounter emergencies and need to raise some cash quickly, but it is not easy for the average wage earner to borrow money quickly without savings or credit guarantees. This paper will present a number of approaches to fast borrowing from multiple perspectives, as well as their advantages and disadvantages。

A quick-loaning method

I. Credit card cash instalments

CREDIT CARD CASH INSTALMENTS ARE A FAST-TRACK METHOD OF BORROWING, WHICH IS NOW MORE POPULAR. PEOPLE WITH CREDIT CARDS NEED ONLY APPLY ONLINE OR ATM. THE ADVANTAGE OF THIS APPROACH IS THAT APPLICATIONS ARE EASY AND FAST, AND CASH IS GENERALLY AVAILABLE WITHIN DAYS TO A WEEK. HOWEVER, THERE ARE ALSO SIGNIFICANT SHORTCOMINGS, SUCH AS HIGH FEES AND INTEREST RATES, HIGH FINES IN THE EVENT OF LATE REPAYMENTS AND AN IMPACT ON PERSONAL CREDIT RECORDS。

II. P2P NETWORK LENDING

P2P LENDING IS PEOPLE-TO-PEOPLE NETWORK LENDING AND A NEW TYPE OF INTERNET FINANCE MODEL. THROUGH THE P2P LENDING PLATFORM, INVESTORS CAN BORROW FUNDS AND BORROWERS CAN APPLY FOR LOANS ON THE PLATFORM. ADVANTAGES INCLUDE RELATIVELY LOW COSTS, FAST LENDING AND MORE OPTIONS, BUT ALSO SHORTCOMINGS. QUALIFICATIONS ARE MORE STRINGENT, RESULTING IN SOME PEOPLE NOT BEING ABLE TO ACCESS CREDIT; THE P2P INDUSTRY IS AT HIGHER RISK, WITH RISKS SUCH AS BAD DEBTS AND PLATFORM FAILURES; AND AT PRESENT REGULATIONS ARE INADEQUATE AND INVESTORS ' FINANCIAL SECURITY IS NOT FULLY GUARANTEED。

III. Pledges of idle items

A pledge of idle items is a pledge of the person or the household not used for the purpose of obtaining a loan from a lending institution. The greatest advantage of this approach is that credit guarantees are not required, but only identity cards and proof of title to the goods. The disadvantage, however, lies in the need for collateral, which is lost when it is not possible to return on time, while collateral is often valued below market value。

In general, all three of these methods are relatively common for fast borrowing. The choice of one of these approaches needs to be carefully weighed against the individual ' s circumstances and the right option selected. At the same time, the corresponding information should be fully known before any one of the methods of operation, such as interest rates, fees, overdue fines, etc。