Can I Really Get Loans For Credit Score Under 500 In Texas?

Are you looking for loans with a credit score under 500? The good news is these kinds of loans exist even in this economic climate. It's been hard for many and your credit score may have taken a big hit. First, the pandemic shuts everything down and then inflation makes everything cost more. That leaves both single people and families struggling. Those with a low credit score may feel like there are no options, especially when there is an emergency expense like emergency home repairs or medical bills.

Yet even with a lower credit score, options do exist. You just have to know where to look. Help for those struggling can come in many forms. For example, the Department of Housing and Urban Development (HUD) has several programs for people who either own a home or who are trying to find a home. But, if you’d rather come to Texas Car Title and Payday Loan Services, Inc. for quick cash, you have the option of getting one of the three loans that we talk about below.

Look At These Loans In Texas You Can Get With Poor Credit

As we said, we here at Texas Car Title and Payday Loan Services Inc. are fully equipped to help you find loans for credit score under 500. We have three different options of loans you can choose from including title loans, payday loans, and installment loans. The type you apply for depends on your situation and how much money you need. And, of course, each of these loans comes with its own loan terms that you need to know. Here is more information about each of the loans.

Auto Title Loans

The first option when you are looking at loans for credit score under 500 is a title loan. With this loan from us, you can get a maximum of $15,000 by using your vehicle’s lien-free title as collateral. How it works is we place a lien on your vehicle’s title until you pay it off fully. This doesn’t mean, however, that we will take possession of your vehicle. We are using the title as collateral, not the vehicle itself. This means you can keep driving while you repay the loan.

Payday Loans

The next loan we offer is a payday loan. With this loan, you can qualify for anything between $100 to $1,200. This loan acts as a way to bridge the gap between pay periods when you have an emergency that can’t wait for your next paycheck. Instead of using anything as collateral, we base whether you qualify for approval on your financial situation and your income. This means you need to show proof of your income when you come in.

Installment Loans

The last kind of loan on the list of loans for credit score under 500 is a signature installment loan. With this loan, you can qualify for anything between $100 to $1,500. Like our payday loans, this loan does not require you to show us any kind of collateral. Instead, we use your creditworthiness and your financial situation to determine if you qualify for approval. This does mean that we have to run a quick credit check before we can make any decisions.

How To Begin The Process For Either Three Loans

Regardless of which one of the three loans you want, we here at Texas Car Title and Payday Loan Services, Inc. have made sure the process is convenient and simple for you to get through so you can find out if you qualify for approval. The first step is to use the online form on our website. This is where you’ll choose which loan you want and send us your basic information. A representative from one of our nearby Texas loan stores will contact you to set up a meeting based on the loan you want.

If you are choosing a title loan, this means you will need to meet us so we can inspect your vehicle. This inspection allows us to determine how much we can lend you if you are approved. Those seeking this loan can also ask to meet in a location where they feel most comfortable. Your car must be available for inspection but the location is up to you. If you are going for either of the other two loans for credit score under 500, you’ll come to the store.

Once you meet with a representative at your appointment, they will go over all the required documents to determine your eligibility. If you are approved, they will help you get through the paperwork that comes with either of the three loans. They will also go over the loan terms and answer all your questions. The process can be completed in a minimum of 30 minutes. With all three types of loans, the money is available to you either later that day or on the following bank business day.

Take Action Today

You don't have to continue to worry about the unexpected expense you have and where you are going to get the money to pay for them. We here at Texas Car Title and Payday Loan Services, Inc. have options for you. You just need to decide which of the loans for credit score under 500 will suit your needs. Filling out the online form doesn't obligate you to a loan, but it could be the beginning of finding out how much you qualify for if you are approved. So don’t hesitate and start today!

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