Need help paying rent and security deposit in Gary, IN

(Request from Alexandria in Gary, Indiana)  I need help paying for a rent & security deposit . I just received a job and I can afford rent. my sister is trying to kick me and my 2 year old and I need to move ASAP before me and my baby is homeless. the rent is 365 and deposit is $400 total. move in is $765 and I need to move by March 14th 2014 or I’m toasted. I can’t have my baby on the street. I will pay every last dime back. I just need help now!

Dear Alexandria,

I’m sorry to hear about your recent troubles and how it has affected your living situation. It certainly makes it more challenging when a baby is involved.

Because your situation meets the definition of financial emergency, you will need to focus more on Gary Indiana rental assistance programs that provide emergency support as a major part of their programs. You do have a couple of options here.

It should be noted that Northwest Indiana Community Action (NWICA) is a local agency that does not typically focus on emergency rental situations. Instead this organization provides permanently subsidized rent to lower income households who are experiencing a permanent hardship.

The Gary Housing Authority is the other major rental aid program that serves households in crisis. While the major goal is long-term stability of the household, case managers can provide some emergency guidance to families like yours seeking help with security deposit and first month’s rent.

You mentioned that since you are working a new job that you would have the ability to afford normal rent payments on an ongoing basis. While I do not know your exact salary, I understand there is a possibility that your income could exceed the maximum that some of the rental assistance programs allow. For this reason, you may also want to determine if an unsecured rent loan might be an option.

You will probably want to stay away from some of the predatory lenders as well as higher cost consumer finance agencies. There are other options though.

You are actually eligible to join Advance Financial Federal Credit Union and to apply for an unsecured loan to help you come up with the $765 that you need to move into your new apartment. I checked and confirmed that their personal loan rate is just 12.5% APR. This is substantially less than you would expect to pay on loans through consumer finance companies, making this an excellent choice if you must borrow money. Call 219-392-3900 for more information on membership and personal loans.

You are also eligible to join US Federal Credit Union due to the fact that you both live and work in Lake County. You can find out about their current loan rates by calling their Gary office at 219-472-1380.

Other credit unions such as Northern Indiana Federal Credit Union have more strict membership requirements which may limits access to the employees of certain member companies. If there is another financial institution near you, simply ask whether membership requirements are as well as whether they are likely to approve a smaller loan for you so that you can move into your new apartment. Understand that personal loans often start at $1000, so you may need to borrow this much through normal personal loan products. If so, this is not a problem since you may also need a security deposit for utilities.

These are a few options that should help you get the fast cash that you need to meet your landlord’s move-in requirements.