3 Ways to Get Emergency Money with Bad Credit

It can be extremely difficult to obtain a loan when you require emergency funds but have bad credit. Most banks and credit unions require a minimum credit score of 600 before they even consider approving your application. If you have lost your job, or have recently experienced bounced checks or bankruptcy, you are often immediately disqualified.

This leaves millions of Americans in a tough spot. The COVID-19 pandemic has impacted all of us. Even if you have worked diligently all your life and tried your best to be thrifty, you probably did not anticipate your finances taking such a sudden downturn.

So, who can you turn to for emergency financial assistance? There are a few options available, including title loans.

Learn How To Get Emergency Money With Bad Credit

Ask Your Boss if You Can Get A Cash Advance

Some companies may offer salary loans, or have employee loan cooperatives. Ask your Human Resources Department if these programs are in place. If there aren’t any, ask for advice about how you can send a formal request for a cash advance. They may be able to work something out for you.

If you work for a smaller company, approach your boss. If you have a good working relationship and have proven your loyalty and value to the company, he may be willing to give you a loan and let you pay it off over several months.

Find Someone Who Can Co-Sign Your Loan

Ask your bank if they can approve your loan if you find someone who can act as your loan guarantor. This can be a friend, an employer, or an organization—basically, anyone who is willing to “vouch” for you and share the responsibility for the loan.

In most cases, getting a loan guarantor will require additional documents, so be prepared for some delays in raising money. They may need to interview the guarantor, or ask him to provide proof of income and sign documents.

Apply For A Title Loan

If you can’t get a salary loan or find a loan guarantor, don’t worry—there is still another way how to get emergency money with bad credit.

A title loan is one of the simplest and fastest ways to raise emergency cash. It has minimal requirements, and with the help of a reliable lender like Texas Car Title and Payday Loan Services, Inc., you can get the money the same day it’s approved!

car title loans bad credit

What Is A Title Loan?

A title loan is a short-term loan where you use a vehicle as collateral. You can borrow up to $15,000 – though this depends on the kind of vehicle you have, and the condition that it is in.

What Kind of Vehicles Can I Use For A Title Loan?

You can use any vehicle— car, truck, or SUV! It just needs to be registered under your name. If it is not, you need to have it transferred to you at the local DMV.

The vehicle title also needs to be lien-free, which means that it has no outstanding loans or judgments against it.

What Are The Benefits of A Title Loan?

  • You don’t need a high credit score. Good credit history, bad credit history – everyone is welcome! It’s one of the best ways how to get emergency money with bad credit.
  • Application is easy and convenient. You don’t need to line up at a bank or present tons of documents. All you need is your vehicle title, your driver’s license or any state-issued ID, and a vehicle inspection.
  • You can keep using your vehicle. Many people mistakenly believe that they have to surrender their vehicle to apply for Texas title loans. However, you just need to present it for inspection—you drive away with your car and your cash!
  • You can raise emergency money quickly. You will get the money the same day the loan is approved—no waiting period!

How Can I Apply For Title Loans?

Do you need to raise money within 1 to 2 days? No problem!

Texas Car Title and Payday Loan Services, Inc. offers the easiest, most convenient way to apply for title loans.

We have several convenient locations across the state, so it’s easy to find a branch near you. If you have any questions, or need help finding one of our locations, just call us at 1-800-514-2274. We’ll be happy to help!

If you want to jumpstart the process, you can fill out an online form. This will be sent to the branch nearest your location. Someone from the office will call, and personally assist you.

When you’re ready to complete your application, go to our branch and bring your vehicle title, your driver’s license or state-issued ID, and your vehicle for inspection. A customer service representative will inspect documents, and appraise the vehicle to know what loan amount you qualify for.

Don’t worry—this process takes about 30 minutes! If the title loan is approved, you just need to sign a few final documents. You get the money on the same day.

Contact us to find out more about title loans and how to get emergency money title loans with bad credit.

Use our helpful advice in knowing how to get emergency money with bad credit.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.