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Short Terms Loans for People with Bad Credit
By carloansadmin • Apr 15, 2014
Loans for people with bad credit : Obtaining a loan from banks present multiple hurdles for many consumers. First, they require particular credit scores. Then their repayment options can take anywhere from a year to five years. They also do not offer many choices for the consumer in repaying the loan.
Consumers with bad credit may not even want to bother with bank loans for many reasons. There is the possible embarrassment of being denied the loan by a bank loan officer. Also, in checking credit for a loan, the bank may actually damage the consumer’s credit score. Anytime a consumer’s credit score or history is checked, it has the potential to lower their credit score. If a consumer is aware of their low credit score, or knows they have had a bankruptcy in the past, there is little reason to apply for a loan from a bank.
Another negative aspect to receiving a bank loan is the limited repayment options. While a bank can offer lower interest rates to a consumer with good credit, if the credit score is only fair, the bank’s interest rates can be higher than a title company’s rates. They also only offer long-term repayment with their loans. Even if the consumer has a good credit score and the rates are lower, a longer-term loan will have a longer period to build up the amount of interest paid.
Title loans from our company use your credit score as only one factor in determining if you qualify for your loan. We do not base the amount of the loan on your credit score only; we consider the value of your car and your ability to repay. We also have many options for short-term loans. This means the repayment process can be over quickly, and it is not something the consumer will have to worry about over the next few years.
Lastly, the other large advantage for title loans is the flexible payment amounts and dates. We are happy to base the consumer’s payments around not only their payday, but also around the days other bill payments are due. In doing so, we like to think we are offering a service to consumers with as much value as a bank loan.
The information and statements contained on this blog are provided for general informational purposes only. Some statements may reflect the opinion or views of the author only. The information provided is not comprehensive, may not be up to date or applicable to the circumstances of any particular case, and may not be based on objective statistical studies. You should not substitute any advice contained on this blog for any professional advice relating to your personal finances.
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The post Short Terms Loans for People with Bad Credit appeared first on (EN) 1(800) Car-Title®.
carloansadmin • Apr 15, 2014
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USA Patriot Act Disclosure: Important information about procedures for opening a new account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you apply for a loan, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
Loans may be made by one of several lenders, including: First Electronic Bank, a Utah-chartered industrial bank located in Salt Lake City, Utah, Member FDIC; Wilshire Commercial Capital L.L.C. dba 1 (800) Car-Title and Wilshire Consumer Credit, a licensed lender in certain states. Loans not available in all states. In California, loans are made pursuant to a Department of Business Oversight California Finance Lenders License. See State Disclosures for additional information.
Accessibility Statement. We are committed to ensuring digital accessibility for people with disabilities. We are continually improving the user experience for everyone and applying the relevant accessibility standards in compliance with Web Content Accessibility Guidelines. For feedback on our website accessibility or if you have any problems with the access of our website please call our toll-free number 800-589-0290 or email us at WilshireCustomerCare@WilshireConsumer.com and we will assist you.
Wilshire Commercial Capital, LLC dba 1 (800) Car-Title and Wilshire Consumer Credit is located at 4727 Wilshire Blvd, Suite 100, Los Angeles, CA 90010.
TO REPORT A PROBLEM OR COMPLAINT WITH THIS LENDER, YOU MAY WRITE OR CALL Tracy Bergiman, Director of Compliance, 4751 Wilshire Blvd. Suite 100, Los Angeles, CA 90010, 323-837-5775, tbergiman@westlakefinancial.com.
New Mexico Only: This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at
(505) 476-4885 or visit the website: https://www.rld.nm.gov/financial-institutions/.