Loans For People With Bad Credit

June 4, 2021 | Daniel Dewitt

 

loans for people with bad credit

If you are dealing with bad credit, you don’t have to handle it alone. There is plenty of help when you take the time to search for it – like loans. Looking into loans for people with bad credit? There are several you could choose from at Texas Car Title and Payday Loan Services.

What Are The Options For Loans For People With Bad Credit?

Texas Car Title and Payday Loan Services offers three types of loans for people with bad credit:

  • Title loans;
  • Payday Loans;
  • Installment loans

You can decide upon which loan suits you best, based on the qualifying requirements and the amount of money you need to solve your problem.

That said, despite several important differences, all the loans share certain characteristics. For one, they’re all accessible loans for people with bad credit, can get you the cash you need either the same day or the next bank business day, and have simple processes for you to go through.

So what are the differences? There are a few you must know about before making your decision.

What Is A Title Loan?

A title loan is a secured type of short-term fast loan. They’re designed for a very specific (but large) group of people – car owners.

Secured loans require you to put up an asset as collateral for the loan. In the case of title loans, it’s the car title that acts as collateral. A title loan is an accessible option for those who are unemployed or have irregular income.

What Do I Need To Get A Title Loan?

Getting a title loan is simple. We don’t require anything crazy or difficult. In fact, here are the requirements to get a title loan:

  • A valid state-issued ID or driver’s license to prove you’re over 18;
  • Your car’s lien-free title in your name to prove you outright own your car (it can’t be financed, have any outstanding judgments against it, or be in another person’s name);
  • Proof of income – your most recent pay stub (or alternative if you’re unemployed);
  • The car itself to determine the maximum loan amount (could be up to $15,000)

How To Get A Title Loan

Fill out an online form on the website and wait for a call from a loan representative. They’ll set up an appointment for you either at a location of your choosing or at the nearest title loans location, to which you have to take the required items.

The loan representative will assess everything to determine if you qualify for the loan. If they approve you, you’ll get the cash the same day or the next bank business day.

What Is A Payday Loan?

Unlike a title loan, a payday loan is an unsecured loan. You won’t need to provide any guarantees – just the required items from the list minus the car title and plus a blank check from an active checking account in your name.

You will have to provide proof of income, but that doesn’t mean you’ve got no chances if you’re unemployed. As long as you have some kind of income, we can talk about this in more detail when we sit down face-to-face at the store.

 

title loans payday loans signature installment loans

 

What Do I Need To Get A Payday Loan?

As I mentioned, our required items list is similar to our title loans – give or take a few differences. Here is what you need to bring:

  • A state-issued ID or driver’s license;
  • Your most recent pay stub;
  • A blank check from an active checking account in your name.

How To Get A Payday Loan?

The process is similar to title loans. You start by submitting a filled-out form on the website and follow the instructions of the loan representative that’ll get in touch with you.

As with title loans, you’ll need to visit the store with the required items so that the representative can assess everything and determine the terms of your loan. Unlike title loans, we do not have the option of going to you.

We will assess your items and quickly determine if you qualify. You can get up to $1,200 on the same day if we are able to approve you for a payday loan.

What Is A Signature Installment Loan?

A signature installment loan is another unsecured loan, similar to a payday loan in which you do not have to provide collateral.

The main difference is that you can get a larger amount of cash with an installment loan (up to $1,500) and you pay it back according to the installment plan the loan representative devises. Payday loans, on the other hand, are usually paid at once, on your next payday – though, in individual cases with the higher loan amount, several installment payments might be arranged.

What Do I Need To Get An Installment Loan?

This required items list is pretty similar to our payday loans since these loans are pretty similar. Here is what you need:

  • A state-issued ID or driver’s license;
  • Your most recent pay stub;
  • A statement from a checking account open in your name.

How To Get A Signature Installment Loan

As with other loans for people with bad credit that Texas Car Title and Payday Loan Services offers, you start the installment loan application process by filling out the online form.

As with other loans, when the form gets processed, a loan representative will get in touch with you to assess your information and determine if you qualify for the loan.

If you’re approved for an installment loan, the cash you qualified for will get deposited into your bank account on the next bank business day.

Make The Right Choice Between Our Loans For People With Bad Credit

As you can see, there is no reason for you to deal with emergency expenses alone, even if you have bad credit. Now that you know about loans for people with bad credit Texas Car Title and Payday Loan Services offers, choose the one that suits your needs the most and apply right now.