Chances are, you’ve heard of title loans, but you may not know exactly what they are or how they work. To describe them in a nutshell, online title loans, which are very popular in Phenix City, AL are short-term cash loans that just about anyone with a vehicle title is eligible for.
See, unlike so many other loans out there, title loans have nothing to do with credit, so even if you’ve made financial mistakes in the past, you can typically still qualify. These loans are collateral-based loans, so the only real criteria is having a lien-free vehicle title that you can use as collateral on the loan. If you’ve got that, then you’re golden!
Not only are title loans easy to apply for and easy to get, but they also offer you a great way to get back on your feet financially if you use them responsibly. You will first receive a title loan estimate that you can approve of. You will get your cash quickly, be able to use your loan funds for anything you desire, and pay back the loan on a schedule that works for you, all while retaining use of your vehicle.
When it comes to title loans Phenix residents really couldn’t ask for a better borrowing option!
Phenix City Police
When taking out title loans Alabama residents are not alone. If they run into any problems or have trouble along the way, they can always contact the local police department for assistance.
The Phenix City police can help with a variety of needs related to taking out title loans, including the following:
- Determining if there have been any complaints filed against a particular lender
- Verifying that a lender is licensed
- Verifying laws or regulations that the lender may have mentioned or tried to enforce
- Determining if a lender’s actions are legal
- Reporting any wrongdoing or illegal behavior by a lender
Knowing that you are not alone and that you do have help you can turn to if needed should help give you peace of mind as you go through the title loan process.
Poverty in Phenix City
Even with knowing all of the benefits of title loans and also knowing that there are helpful resources available to them, some people feel really bad about their need to take out a title loan. They may feel embarrassment and shame about their financial state, but in reality, a great many people in the Montgomery Alabama and Phenix City area struggle with money.
In fact, at last count, a whopping 21.3% of Phenix City residents were living well below the poverty line. That even tops the statewide poverty level of 16.1%!
Obviously, poverty is a serious issue in Phenix City, so if you do turn to title loans, you definitely should not feel bad or like you are alone. Also, keep in mind that, if you are smart about your title loan, it can actually help you to get to a better place financially.
To begin with, you can use your loan funds to pay off debts and get caught up on bills so that you won’t have to struggle in the future. And, as long as you borrow within your means, you shouldn’t have a problem paying back the loan as agreed upon, which means your credit score will improve. That, in turn, means that you’ll likely become eligible for more credit opportunities in the future.
All in all, title loans, when used correctly and responsibly, can really make a big and positive difference in your life, so don’t feel bad about taking one out at all. Instead, look at your title loan as an opportunity to better yourself and your life.