Financial emergency can hit you anytime and double up the stress already caused by the problem that caused it. That’s why it’s essential to have a plan of action just in case. This will allow you to get the money fast so you can focus on dealing with the issue.

But bear in mind that quick financing options are short-term measures only. You should never use them as long-term credit options. If necessary, use more favorable loans to cover these debts once things get settled a bit.

How to Get Emergency Cash Fast: 5 Viable Options

1. Credit Card Cash Advance

If you own a credit card, getting a cash advance on it at the closest ATM will be your best bet for getting some money fast. However, this is also a method to use only in the direst of emergencies, warns creditcards.com.

Despite being expensive, this option is easy and fast. So you can consider using it if you are ready to cover the debt immediately. Even taking out a personal loan with a high rate to do this can be justified under some circumstances, so think through your choices carefully.

2. Personal Loan

There’s a great variety of personal and payday loans that will give you some quick cash with minimal hassle. These options come with steep interest rates, so you should repay them as fast as you can.

Be sure to shop around for personal loans as they are offered by many credit unions, banks, and many other financial organizations. This means you have a good chance to find more favorable terms if you take time to study the market. You also shouldn’t forget about less well-known options like Tribal installment loans.

3. Retirement Account Loans

The good thing about retirement loans, or 401(k) loans, is that their interest rates aren’t very high. They are higher than the regular loan, but not as debilitating as payday varieties.

On the downside, these loans only allow you to borrow a limited amount of money and only if your retirement account is large enough. Investopedia explains the workings of this financing method in great detail. Be sure to discuss the terms with your lender and be aware that you’ll be losing some tax-deferred growth on earnings if you choose this financing.

4. P2P Lending

P2P or peer lending is getting more popular now but this method might not provide you with cash as fast as you’d like. However, it’s a good option for closing the debts created by other immediate ways to get money.

Peer lending terms vary greatly, so you should look for the options with the lowest possible rate. These will require a good credit score, like regular loans, but can be easier and quicker to obtain if you have proof of income.

5. Home Equity Loan

This option is very risky and only available to those who have some equity in their home. The good news is that this financing has some of the lowest possible interest rates. However, the process of obtaining such loan is longer than a personal one.

If you choose to use this option, be sure to work with a bank or other reputed financing organization. It’s essential not to rush into what is essentially a second mortgage. If you need to get cash fast through this method, go to the most reliable lender you can find.