Without Texas car title and payday loan assistance, a lot of good people would not be able to secure the funds that they need to make ends meet. These are people who are good for the money and can be trusted to pay it back. Their big problem is a bad credit history. Given the state of the economy in Texas and other places these days, a bad credit history is pretty common. People have lost houses and run up huge credit card bills just trying to live from day to day. Most lenders will not look at them twice. For many of these honest folks, a Texas car title & payday loan is the only way that they can get the money that they need.
The great thing about a Texas title and payday loan is that you do not need to rely on a good credit history to secure a loan. These lenders understand that you are still worthy of their trust and know how to manage a loan. They go to great lengths to make it possible for you to receive their Texas car title & payday loan services.
How a Texas Title Loans Work
No matter what has happened to you and your credit score, you can still manage a loan if you own a car. This is good news for car owners in the state of Texas. Using your car as collateral, you can ask for a loan as large as $50,000. It all depends on the value of your car and not on what a computer says about your reliability.
When you go in to the office of a Texas title loan company, they will ask you some information about your car. It is important that you have your car title with you when you do this. The Texas car title loan agency will let you know exactly how much money that you can have and what the terms of repayment will be. You could possibly receive the total amount in less than 24 hours.
In order to receive Texas car and title loan money, you will have to leave your title with the Texas title and loan agency and fill out some paperwork. There is no need to worry. You will still be able to use your car and do everything that you need to do. In fact, you will be able to do more than you could before because you will now have the money that you need as well as your car. The lenders hold on to your title as collateral, in case you are not able to pay back the full amount. This is really just like any other loan, which requires collateral. Once you pay back the loan, the Texas title and payday loan company will return your title.
How Payday Loans Work
A payday loan works a little differently than a car title loan Texas. Instead of using your car to convince the lenders that you deserve some credit and some trust, you use your job. If you can prove that you have steady employment, that is enough proof for them that you are worthy of a loan.
Just as you would do with a Texas auto title loan, you need to bring some paperwork with you when you go to their offices. Take the most recent pay stub or evidence of your paycheck. Show this to the lending agency. They will explain the amount of money for which you are eligible. Then they will ask you to write a post-dated check or sign some paperwork that will allow them to withdraw funds from your bank account on the next day that you get paid.
You can receive the money that you need within 24 hours. You do not have to worry about paying it back. When your next payday arrives, the lenders will cash the check or otherwise withdraw the appropriate funds from your bank account. The total amount that they withdraw will include the amount of your loan as well as a charge for the service. Depending on how much you get paid every two weeks, you could receive as much as $1,200 in a payday loan. Look in your town or city and you will probably find many different payday lenders ready to help you.
These Texas title and payday loan arrangements help people survive this economic crisis every day. There are additional benefits to this service. You will not have to waste your time and effort trying to convince a traditional lender to give you a loan. Also, your credit score will improve as you avoid those traditional loans using Texas car title and loan funds. Put some time between you and the last bad lending experience that you had. With the help of a payday or a title loan Texas borrowers can get back on their feet and repair their credit history.