Personal Loan Options for Bad Credit in Houston

If you have bad credit, you know just how much it can limit you and affect nearly every aspect of your life. While you may get along without credit cards and access to a bank loan, what do you do when life throws the unexpected at you? Whether your car has broken down, your paycheck was shorter than you expected or you have medical bills to pay, you need a source of emergency cash.

Here are some personal loan options you can use in Houston if you have bad credit, including pawn loans and Houston car title loans.

1. Peer-to-Peer Lending

Peer-to-peer lending has gained in popularity over the years, and it allows you to obtain a personal loan without going through a bank. Your credit will still matter, however, but it's usually an individual who makes the decision, not a huge institution or underwriter. If you have bad credit, expect to receive a much higher interest rate. It may also take some time to actually receive the money, so it's not a good option if you need the cash in the next few days.

2. Houston Car Title Loans

Car title loans in Houston are available regardless of your credit history, and lenders will not run your credit at all. Still, you must own your own vehicle to qualify, or have few payments remaining on an existing car loan. The loan amount will be based on the equity in your car, which is determined in part by its year, make, model, mileage and condition. If you need cash today, this is one of the better options because you can have the money in as little as one hour. Depending on the value of your car, you can receive up to $15,000.

Be aware, though, that car title loans in Houston are secured. This means the lender will hold the title to your car until your loan is paid off. If you default on the loan, you will probably lose your vehicle.

3. Payday Loans

On the surface, payday loans are a lot like car title loans. Houston payday lenders will not check your credit, and you can get the cash in less than one hour. One difference, though, is payday loans are for a much smaller amount on average, usually just $500 to $1,000, and they're due within two weeks. This is because they are not secured like title loans, and lenders do not have much recourse if you default. This may be a good option if you need a relatively small amount of money soon and you do not own a car.

4. Pawn Loans

Finally, Houston has dozens of pawn shops who will loan you money based on the value of some collateral. You can pawn nearly anything you own for fast cash, whether it's a television, collectibles, an antique belonging or something else entirely, and the pawn broker will hold your item until you return to pay back the loan plus interest. Pawn loans, like all loans for bad credit, come with high interest rates, and you also risk losing the item if you cannot pay your loan back on time.

Options for Getting a Personal Loan with Bad Credit in Texas

When your credit is less-than-perfect, you know it can be really tough to get money when you need it. Banks won't lend you money if you don't have excellent credit, and you may find it impossible to even qualify for an unsecured credit card. Just because your credit is bad, though, doesn't mean life won't throw emergencies your way. What do you do when you need to fix your car, pay medical bills or cover the rent or mortgage?

These are just some ways to obtain a personal loan in Texas if your credit could use some work, including payday loans and Texas car title loans.

Pawn Loans

There are dozens of pawn loans in San Antonio, Dallas and Houston. Pawn shops will give you a loan based on the value of collateral you bring into the shop, and one advantage is you can pawn just about anything and get a loan in under an hour. The downside? The pawn shop will hold your item until you pay back your loan in full, on time and with interest, which is usually very high. If you can't pay back your loan on time, the pawn shop will sell your belonging to someone else to cover what you owe.

Texas Car Title Loans

Dallas car title loans are also available to you and do not require a credit check. You can qualify for car title loans in Texas as long as you own your own car, truck or motorcycle free and clear, or have just a few payments left on a car loan. The amount of money you receive is based on your car's year, make, model, mileage and condition and this is one of the best options if you need a lot of money in a hurry. Depending on your vehicle's value, you can receive up to $15,000.

Unlike pawn loans and payday loans, Dallas car title loans are secured. This means your car serves as collateral and, if you default, your vehicle will be repossessed and sold. One big advantage is you continue driving your car while you make payments and get your title returned when the loan is paid off, so you never have to give up your vehicle if you keep up with the loan payments.

Texas Payday Loans

Payday loans can seem a lot like car title loans in Texas on the surface, as both are available with no credit check and give you money in under an hour. Payday loans, though, are usually for a much smaller amount of money (often around $500) and they're due in two weeks. That's because payday loans are not secured so lenders must limit their risk. Payday loans may be a good option if you don't need a lot of money or you don't own a car.

Peer-to-Peer Lending

Finally, peer-to-peer lending may be an option to you. This allows you to get a personal loan from an individual, not a bank, but your credit will still matter and determine how much you can receive and what sort of interest you will pay. Expect to get a high interest rate, and remember it may take awhile to find someone willing to lend the money and even to receive it, as these are not same-day loans.

Ohio Lawmakers Eying New Laws Against Ohio Car Title Loans

In 2010, Ohio passed very restrictive laws against payday loans, claiming these high cost loans exploit the vulnerable and poor. According to many lawmakers, Ohio car title loans are just an attempt to operate in a loophole of Ohio's lending laws, loaning money to people under the same terms.

The legislation of 2010 enacted very strict rules on lenders, including a maximum interest of 28% on the APR and a minimum payback term of 31 days. This means payday lenders and lenders who provide Cincinnati car title loans must give you at least a month to pay back your balance, not merely two weeks. Still, lenders are able to use other laws in existence in the state to continue charging effective annual percentage rates over 350%.

While they may seem the same on the surface, Ohio car title loans have a few differences from payday loans. Title loans require the use of a car or vehicle's title as security instead of a paycheck. Borrowers also face having their vehicle repossessed if they can't pay the loan back on time.

While it's easy to vilify car title loans in Ohio, it's also important to remember that they are an important service for many people. Consumers in the state who have no savings and no or bad credit have virtually no other options when an emergency strikes and they need money. No traditional lender or bank will give a personal loan to someone with bad credit, and consumers who don't have money saved up will be placed in a very tough situation if their car breaks down, they need to feed their children or keep the electricity on.

When used responsibly, Cincinnati car title loans can even help consumers save money. Consider this example: you've written a few checks to pay the bills, then you realize you don't have nearly enough cash in your checking account to cover them. What happens when all of those checks clear? You will be facing bounced check fees from your bank of at least $30 each. If you obtain a car title loan for $500 to cover the checks, you're total cost for the loan may be less than $45 and you can pay back the balance on payday, potentially saving yourself over $100 in the process.

Title loans can also be used to avoid late payment fees on utilities and credit cards, as well as further damage to your credit if you miss a payment on the mortgage, student loans or a credit card.

While there are absolutely consequences to defaulting on a title loan, and borrowers should be very careful to borrow only what they need and can afford to repay quickly, this does not mean that the service itself should be outlawed. Doing so would only eliminate a much-needed source of emergency cash for thousands of people throughout Ohio.

How to Use Miami Car Title Loans Responsibly?

Unexpected issues or a big emergency can happen anytime, but it can be hard to recover from if your savings account is empty and you don't have any emergency credit sources available. In cases like this, there are options, regardless of your credit history. Miami car title loans may be the solution for you if you own your own motorcycle, car or truck outright and it has value. Title lenders will allow you to covert the equity into cash while allowing you to drive your car the entire time.

It's important to remember that these loans do have high interest rates and there is the risk that you will lose your vehicle if you default. That means it pays to do your research before you make a commitment and only borrow what you can afford to repay. Following is some advice you can use to prepare yourself before you sign that contract.

Shop Around!

Did you know there is no set interest rate or terms on car title loans in Miami? Two lenders may have vastly different interest rates and fees, so it's really important to get quotes from a few places before you settle on one. Don't just sign the first contract you're offered, because you may save yourself hundreds by simply checking another lender.

Borrow Only What You Need

This is one of the most important things you can do if you're considering car title loans. Miami has plenty of great lenders, many of whom may offer you more money than you asked for or need. Don't give in to temptation, as any extra money you borrow with Miami car title loans will also come with extra interest. It will also give you a higher balance with a higher minimum payment, which means you could be saddling yourself with more debt than you can afford to pay back. This means your loan will take longer to pay off and you may be setting yourself up for defaulting on the loan.

Clean Out Your Car

Remember, the amount of money the lender will give you is based on how much your car is worth. The easiest and cheapest way to boost your car's value is through a simple cleaning. Clean the interior and exterior of the car, remove any junk and get your car looking as good as possible to maximize its value and the amount of money the lender is willing to give you. This is especially important if your car isn't worth much and you need a certain amount of money to get through a tough situation.

Be Comfortable Before Signing

Finally, make sure you're comfortable before signing as you shop around for car title loans in Miami. If something doesn't feel right or you're worried you can't afford the loan, walk away! It's very easy to feel like you have no choice if you're dealing with a tough situation, but you will be putting yourself into something even worse if you sign a legal contract and give the lender recourse if you default if you aren't sure you can make the payments.

How to Obtain a Car Title Loan in Miami?

How do you walk through the unfamiliar world of car title loans? When that moment strikes and you have no room in your budget to meet an emergency head on, you know that car title loans in Miami could be your best option.

Finding the Right Miami Car Title Loan Company

When you are searching for help, it is easy to get desperate and settle for the first option. However, it is important to take a deep breath and think clearly. You do not want to get wrapped up with a company or source of financial help that will treat you unfairly, ungenerously, and insincerely. You do not need one more stressor, you need an ally and a support system. Make sure as you look for Miami car title loans that you will be treated with respect and valued regardless of your personal circumstances.

A good company for car title loans in Miami will be reputable. They will provide a simple approval system; included will be a short application system, no credit check, and a delivery service for the check/ cash and title exchange if needed. They will also allow you to keep your vehicle because they understand that you still must be able to make it to your job, and get around during your emergency. Car title loans in Miami should not be seeking to add to your distress. If they are, move along to a company that will treat you courteously.  

Repaying Your Car Title Loan

You should also be able to know upfront that they have flexible and affordable payment options. These should include low rates, no prepayment penalties, and be convenient. On top of that, the company you choose for your Miami car title loan will keep your payment safe and secure. They will not manage your payments to them in a shady or unsafe way, especially when using your debit card or checking account. A reputable car title loan company will want to protect your financial and personal information from further damage.  In addition, your company of choice should never give out your personal and private information. This includes your contact information. You should be protected from spammers. Any company that will sell or lease your private information to make an extra buck on the side is not worth your business! These are the companies that give car title loan companies a bad name- “loan sharks”. They will be unwilling to work with you on payment issues, payment amounts, timelines, and may even sell your information as mentioned above while bullying you.

In your hour of need, you won’t be turned away or left with no options. You can rely on car title loans in Miami to service your financial needs no matter your situation. You will feel a sense of ease, and if you ever need to return for their services, you will be glad to do it or refer a friend if they need a helping hand.

How to Get Your Title Back After Paying Off Miami Car Title Loans?

Car title loans in Miami allow you to use your vehicle's title as collateral to obtain an immediate and easy loan. These short-term loan options are an excellent resource for borrowers with bad credit who can't obtain a loan anywhere else, and they help you resolve an immediate financial need.

If you've already applied for Miami title loans, or you're considering it, you might be wondering how to get your car's title back from the lender. Your car's title proves ownership, and it's necessary if you plan to sell the car in the future. The good news is this is typically a very straight-forward process that requires making your payments on time. Once your debt is paid off, the title loan company will report this activity and remove their lien on your vehicle.

1. Make payments on your loan

It all begins with making payments on your car title loans in Miami on time. The best way to do this is sending payments before they're due, and speeding up repayment by making extra payments whenever possible. In most cases, this will also save you money because the best lenders will not charge fees for early repayment and they will adjust your total interest due if the loan is settled early.

2. Ask the company what happens next

Companies have different policies when it comes to car title loans. Miami has dozens of lenders, so make sure you ask your title loan company what will happen once your loan is paid off, because the exact process varies. It helps to know what you need to do to make the process of regaining full title to your car as easy as possible.

In most cases, the lien holder (title lender) will notify the Department of Motor Vehicles by submitting paperwork showing you have paid off your loan. There is usually a delay before the lender does this because they want to make sure your payment clears, and then they must prepare the necessary paperwork. You may be automatically mailed your title as soon as the department is notified, or you may need to go to the department yourself to get the title.

3. Get proof your loan is paid off

A good provider of Miami car title loans will give you the documents necessary to confirm your loan is paid in full, along with details such as the payoff date, history of payments and any other important information. Make sure you keep this proof, just in case there are problems with getting your title back.

4. Contact the DMV

Next, contact the DMV so you can monitor the progress of updating your vehicle's title and removing the lien. In most cases, you will at least receive verification that the department has received the paperwork from your title loan provider and give you an estimate of how long the process takes.

5. Check the title when you receive it

Finally, take the time to review your restored title once you get it back. Check that all information is completely filled out and accurate, and be sure to contact the issuing agency right away if you notice any errors so it can be fixed right away. This will prevent issues in the future, such as paying taxes, getting tags or selling the car to someone else.

The good news is most lenders who offer Miami car title loans will complete the entire process of reporting the discharge to the appropriate agency, and help you get an updated title.

How to Get a Personal Loan in Dallas with Bad Credit?

It's true that the economy is slowly recovering, but this doesn't mean that millions of Americans aren't still struggling to get by. Millions were hit by the economic collapse with job loss, foreclosure, bankruptcy and debt. If this describes you and you've been working to rebuild your life, you probably already know that banks aren't too forgiving of bad credit, regardless of the reason. If you need money to pay the rent, repair your car or pay bills, you may even be feeling pretty desperate for a small loan to get you through.

The good news is there is one option you can always turn to, even with bad credit, and that's car title loans. Dallas has plenty of reputable lenders who will not run your credit and allow you to take out a loan against the value of your car, truck or motorcycle.

Getting a loan with bad credit couldn't be easier with Dallas car title loans available to all Texas residents over the age of 18 who own their own vehicle. Title loans require just a five minute application process with instant online approval. You can even have the cash in less than an hour.

Car title loans in Texas can be a smart choice when used responsibly to get through a short-term emergency of any kind. While a bank won't loan you money with bad credit, a title loan provider will give you anywhere from $1,500 to $15,000, which is based on your car's value.

To qualify for Dallas car title loans, you must be at least eighteen years old and own your own vehicle with a clear title, although some lenders will still give you a loan if you have a small balance remaining on a car loan. In this case, the loan from the title lender will first pay off your car loan, and you will keep anything left over.

While car title loans in Texas are great as an emergency source of money, they must be used responsibly and never frivolously. If you default on your loan, the lender can repossess your car, sell it at auction and even come after you for the remaining balance you owe. Only borrow what you can afford to repay, and what you need to get through the emergency.

It's also a good idea to compare loans between lenders, too, because the interest rates and terms will vary by lender. Look for the best rate and don't sign if you aren't comfortable, no matter how rushed you feel to get the money. After all, twenty minutes of shopping around may save you hundreds in interest charges, and ensure you'll be able to afford your loan.

If you're in a tough situation, consider turning to title loans to get the money you need, but don't give in to temptation and borrow more than necessary. You'd be surprised how many people are offered more money than they asked for when the lender checks the equity in their car! Put together a budget before you go loan shopping and know what you can afford every month, and plan to pay back your loan as fast as possible to reduce interest charges and avoid any consequences.