Once the words come out of your mouth, you can’t “unsay” them.  Usually you end up wishing you’d just kept quiet — like the infamous “I’ll never…..get married again, have more kids, bounce a check, cheat on my taxes.”  Chances are, you’ll end up doing every single one of those things someday. 

So if you’ve had a bad experience with a title lender, you may have thrown up your hands in frustration and told your friends that you’d never get another title loan.  Just like the economy and lending in general, a lot has changed with title loans over the years.

It’s easier than ever to apply, and if you do your homework and apply directly to a title loan lender instead of a “loan broker or salesman” the entire experience can be just what you need to get out of a financial crisis.  When you apply online to Title Loans of Alabama or Title Loans of California, you don’t need to explain your past credit history, why you’re credit limits are maxed out, or even that you’ve written more checks than you can cover before your next payday. 

It’s pretty simple; proof of income or employment, a car that has some value left to it, identification, and proof of ownership is generally all it takes to have a big “YES” stamped on your auto title loan.   And they promise not to say “never say never” as you’re walking away with quick cash in your hands.

Trying to be perfect all the time is a tough job, but that’s exactly what bank loan officers want to see when they look at your credit history.  They want perfection; no late payments, no medical collection accounts, foreclosures or bankruptcy. 

Sadly, many credit applications are denied because of problems from the past.  A bad credit history sticks around for years.  While title loans may get negative press about fees and interest rates, the one thing that remains the same is companies like Title Loans of Utah  will take a chance on you when no one else wants your business.

Can title loans help repair your credit history? Not directly.  Most title loan companies don’t report to credit bureaus, so your payments won’t be reflected in your credit score.  What a title loan can do is give you extra time and money to make payments on those companies that do report to the major credit bureaus.  It’s not a long term fix, but short-term, title loans can get you out of a financial bind.

We all have them; those “aha” moments when you realize something needs to change.  Maybe your moment led you to a bank, friend, credit card, or Title Loans of Tennessee for help with a financial emergency.  No matter how you solved the problem, remember that six months from now the person or business you borrowed from is going to want their money back.

What can you do today to make sure you’re headed in the right direction?

• Before you spend borrowed money, prioritize your financial commitments and discuss your repayment options with your lenders.  Write it down, every loan, credit card, IOU, and payment you need to make.  Talk to your lenders, landlord, friend — find out what repayment options are available.
• Make a plan.  You know the payments are coming and ignoring the fact won’t change anything.  Once you know how much money you need for the next few months, you’ll have an idea of where you need to be financially. 
• Just do it.  If an annual budget seems too hard, break it down into smaller steps.  Quarter, month, week, or even just getting through a single day - even small steps make a difference. 
• If you’ve tried everything you can think of to bring in extra money, step outside of your comfort zone.  Maybe babysitting, dog walking, or raking leaves isn’t your ideal job, but these days money is money.  
• Change your routine. If Starbucks and the morning paper are things you think you can’t live without, figure out how to get your fix for less money — try home-brewed coffee and reading your news online.  Don’t think $3 a day will make a difference? Think of how many hours you’d have to spend at a job you’re not excited about  doing compared to the $15 you spend at the coffee shop each week. If you found $15 on the street, would you leave it there or pick it up?