A Bank Loan Isn’t Your Only Option of Getting the Cash You Need
Need cash but can’t get a loan from the bank because of bad credit history?
There are other ways to get that much needed cash!
It can be difficult to get a loan if you’ve had the wind knocked out of your credit scores due to financial problems. Big banks have formulas to follow, and it’s just a fact that having no credit or poor credit is a major stumbling block to getting a loan with them. Until you raise your credit score, you won’t fit the standard lending guidelines that traditional big banks have to follow. However, you may have more options than you think.
You’ve probably thought this through: if it’s not possible to use a home equity line of credit, where else can you go for cash? Have you considered applying to a Credit Union? Credit unions are similar to banks, but they nonprofit organizations that pass along earnings to members in the form of lower fees and higher levels of customer service.
Secured Collateral Loans for All Credit Types
Many people appeal to friends and family to help them secure a loan. Treat a loan from someone you know as a serious business transaction. It’s best to create a written document to record the interest rate, payment terms, any collateral you put up for the loan, and what happens if you fail to repay the debt. These same terms should be outlined if you accept a friend or relative as a co-signer on a loan.
Car Title Loans have an advantage over these options if you are not interested in bringing your credit score into the conversation. The amount of the loan is based on the value of your car, and you may have more equity in your automobile than you think. Since the loan is secured only by the equity in your automobile, there is no need to run a credit check. All applicants are approved according to the car they own, not according to their credit history. Most of the auto title loans amount to $2,600 up to $20,000, which should be enough to help you pay off old debts and get back on your feet. You can keep your car while paying the loan, so you will still have a way to go to work or to classes.
Everyone needs a little extra now and again. You shouldn’t be penalized by high interest rates if you can help it.
Personal Loans to Solve Personal Problems
When things go bad, they go bad quickly and seriously and it is often so difficult to find any help or assistance when times are at their hardest. You can easily imagine several scenarios – the breadwinner of the house suddenly losing a job, the realization that the kids are getting near college age but there’s no money in the kitty to pay for it, the vital piece of equipment that a small business needs in order to rake in the punters. The beauty of car title loans is that they are certainly personal loans but especially they are loans for bad credit with monthly payments. In other words these loans are made to measure for the bad credit customers who find themselves in trouble and who really need a chance to put their finances straight. The idea of loans for bad credit with monthly payments makes everything possible again – within a month or two you can tackle your problems and get yourself back on an even keel.
Two Kinds of Loans – Explaining the Difference
One of the big advantages of car title loans is that these are secured personal loans – in other words loans that are backed by an asset. Just like when you take out a mortgage which is the best known kind of secured loan, you are securing the loan with the house. This piece of property is collateral for the loan. That means you are liable for repossession if you fail to keep up with the term. Of course the same could – but rarely does – happen with your car because we go out of our way to make the repayment arrangements as budget friendly as possible and we support our clients whenever possible. With secured personal loans, the lender takes possession of the asset when you default on the loan. The same isn’t true for unsecured personal loans. With an unsecured loan, your property – be it a house or a car – is not at risk but lenders can (and do) report make credit bureaus aware of late or missed payments with both secured loans and unsecured loans. Secured personal loans carry a significantly lower rate of interest.
Help for the Unemployed With Car Title Loans
Unemployed people don’t normally get a very fair shake of the dice when it comes to loans because most lenders, who are concerned with credit ratings, will be very unhappy at the thought of lending money to people in that situation. However at Car Title Loans Van Nuys we have no such qualms because of the way car title loans are structured and secured. Loans for unemployed people with bad credit are very much grist to our mill as we see one of our objectives, one of the rocks on which our company is built, is to reach out and lend a truly helping hand to people who need it the most – and who can be more in need of such a hand than people with bad credit who are out of work. Just think how helpful it would be when you are putting your heart and soul into what can be the thankless and sadly long drawn out campaign of job searching to have a capital sum to fall back on and keep the essential services going – in short loans for unemployed people with bad credit can keep the wolf from the door!
Putting the Speed Into Borrowing With Instant Loans Online No Credit Check
It’s bad enough being short of money but the worst thing – apart from the difficulty you usually find in getting hold of any when things are hard and credit is tight – is to be continually put off, kept waiting, not being given honest answers and so on and so on. Meanwhile all the pressures are mounting up and you can wait days or even weeks for an answer and at the end of the day that answer may well be “no”. However offering loans online no credit check speeds matters up so that we are not talking months, we are not talking weeks, we are not even talking days but hours – in fact when we say instant loans online we mean that the whole process from you making the call to you receiving the cash is less than one hour. Just a short talk with a member of our team of financial advisers, a few questions about the make, model and condition of your car and loans online no credit check becomes a reality! Come down to our office and drive away with the cash.