Explore Small Loan Options With Bad Credit
If you’ve been hit by a big bill and have bad credit, you might be wondering whether you have any loan options available to you – the answer could be yes. We here at Texas Title and Payday Loan Services, Inc. offer three small loan options for people who are trying to repair their credit, making it easier to find out if they can borrow money when they need it urgently. Keep reading this article to learn more about our loans, why you don’t need perfect credit, and how to get these loans.
What Kinds Of Loans Can You Get With Bad Credit?
1. Title Loans
Title loans are the first option for many individuals with poor credit ratings. This is due to the fact that we use your car’s lien-free title as collateral – meaning we don’t have to rely so heavily on your credit. A title loan can let you access a large lump sum, as you might be able to borrow as much as $15,000, depending on the value and condition of your car.
It doesn’t take long to find out whether you are eligible for a title loan – even with the car inspection. One of our title loan agents from the nearest store can even meet you at a location of your choosing to do the vehicle inspection; you never have to come into the store if you’d rather not. This makes these loans convenient for people all over Texas.
2. Payday Loans
Payday loans are another loan option that may be useful if you don’t have a vehicle to use as collateral. A payday loan is based on your paycheck and what you can repay, which means that your credit rating does not matter, so it’s possible to get one even if you have a poor credit rating. And since this is a small-term loan, this means you don’t have to deal with loan payments for too long.
In fact, this loan was designed to just help bridge the gap between pay periods at work – which means you will repay it with your next paycheck. So if you need money in a hurry, this loan could be beneficial. You can borrow as much as $1,200 when you come to see us. This could help you tackle a variety of smaller financial emergencies like a car repair or a late bill.
3. Installment Loans
The third loan option is a signature installment loan. Your credit rating will matter more for this loan, as we will do a credit check before we make any kind of decision. But we will still be willing to go over your chances of getting approved with your current credit score. With this loan, you can borrow up to $1,500 by using your signature as a promise to repay the loan. And speaking of repaying this loan, if you are approved, you can repay it in installments instead of all at once.
Why Doesn’t Credit Always Stand In The Way?
By now, you must be wondering why credit won’t always stand in your way of finding out if you can get any of these small loans. Well, that is because we use other factors to determine if you qualify. Now, that isn’t to say that credit will never matter. In fact, when it comes to our signature installment loans, we will have to check your credit before we can determine if you qualify. And even for some of our title loan amounts, we might have to check your credit beforehand.
However, that also doesn’t mean we’ll automatically turn you away if you have poor credit. We actually welcome people will all kinds of credit scores to come in and find out if they can get approved for the loan they want. So if we don’t rely on credit only, what do we look at to determine if you do in fact qualify for approval? That’s easy! For our three loans, the required items list is short. We require you to bring the following:
- For title loans:
- Your driver’s license or state-issued photo ID.
- A lien-free car title in your name.
- Proof of income.
- The car for inspection.
- For payday loans:
- Your driver’s license or state-issued photo ID.
- Most recent pay stub as proof of income.
- A blank check from an active checking account in your name.
- For installment loans:
- Your driver’s license or state-issued photo ID.
- Proof of income (your most recent pay stub).
- A checking account statement in your name.
How Do I Get A Loan?
Because we recognize that customers lead busy lives and may not have much free time, we have made our process quick and simple – no matter which one of our three small loan options you want. You can get in touch with us by filling out our online application on our website, and this will trigger a call from one of our helpful agents. Make sure you keep your phone available so that you can answer this call.
The agent will talk to you about your needs and discuss the required items you need for whichever one of our loans. Next, they will organize for you to meet with your items. If you want a title loan, this meeting can be done at a place of your choosing; for payday and installment loans, you’ll need to come into the nearest store location in Texas. Whichever loan you choose, you’ll then be told how much you can borrow and if you qualify for approval.
Remember, if you are going for title loans, we will inspect your car in order to tell you how much you can borrow. If you are going for installment loans, we will do a quick credit check and look at your income to determine if you qualify. And with payday loans, we look at how much you can repay to decide if you can get this loan. If you are approved for whichever one of our loans you are going for, you can have the cash either on the same day or the next bank business day.
Check Your Eligibility Today
It’s frustrating not being able to borrow money if you have a bad credit score. But you don’t have to stress out too much because we provide a variety of small loans to let you access funds in a hurry. If you would like to learn more about how our loans work and whether you could be eligible for one, you can get in touch with us today. We will be glad to help you out no matter where you are in the process. So don’t wait any longer and fill out the online application now.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.