If you are in a hurry with cash, try cleaning your cupboards. Search for high-quality items that you can sell, such as:
  • Jewelry (such as an engagement ring)
  • Electronics (new or old)
  • Musical instruments
  • Unused tools
  • Collectibles

If you have a store in your town that deals with this type of goods, try it first. If not, you can try to sell your stuff on eBay or Craigslist. First check other listings for similar items to get an idea of ​​how much your stuff is worth.

Another option is to take your things to a pawnshop. You can sell your items directly or borrow money. When you take out a pawnshop loan, you give your item as collateral and the store gives you a fraction of its value in cash. You will also receive a receipt, called a pawn ticket, that shows when your loan must be paid.

A pawn shop loan is usually good for anywhere from one to four months. Each time before that period is over, you can return your ticket to the store and repay your loan, along with a fee that can be described as interest or financing costs. The costs vary from 5% to 25% of the loan value per month. That amounts to an APR of 61% to 304%, which is high, but better than you get from a lender.

If you cannot pay off a pawn loan before it is paid, the store will save your things and sell them to someone else. That is not great for you, because it means that you have sold the item for a lot less than it was worth. But at least that is the end of the story. Your loan has been paid and you do not have to worry that debt collectors will get you.