What Are Some Loans For People On Disability With Bad Credit?
There are a few situations in which you might find yourself looking for loans for people on disability with bad credit. You may need to take care of some urgent medical bills, for example, or cover unexpected travel expenses.
Overall, the nature of the emergency doesn’t really matter – you simply need to find a place where you can get a certain sum as fast as possible. Find out how Title and Payday Loans can help with options that you might want to consider.
Types Of Loans For People On Disability With Bad Credit
Unfortunately, not every lender is ready to work with people on disability. And even fewer companies would decide to lend money to someone with bad credit. But that doesn’t mean that qualifying for a loan in such a case would be impossible.
When deciding whether or not you will get approved for a personal loan, the lender will consider your monthly income, credit score, and debt-to-income ratio. The DTI is your monthly debt payments divided by your gross monthly income. Many lenders prefer the debt-to-income ratio to be lower than 36%.
The potential borrower’s monthly income is another important factor that shows the lender whether or not the individual will be able to repay the loan. If you are unemployed, some lenders will consider disability benefits. If you are employed, you can still choose to include your Social Security benefits when calculating your monthly income.
Finally, your credit score. Though the absolute majority would prefer to do business with those who have a good score, there are lenders ready to consider any credit, and a company such as Title and Payday Loans can help you find them.
Perhaps, one of the easiest loans to look into if you’re a person on disability with a less-than-perfect score is a bad credit title loan. When applying for a secured loan, you would be required to put up collateral, which makes the whole process a lot less risky for the lender.
That’s why a lot of companies will lend money even to unemployed individuals with bad credit. If they have an asset to secure the loan, such as a lien-free title for a title loan, then qualifying isn’t as difficult as one would think.
If you don’t have a vehicle that you can put up as collateral, you might be able to qualify for a payday loan even with bad credit. Our team at Title and Payday Loans will do their best to connect you to the most suitable lender for your specific situation.
Why Choose Title And Payday Loans?
The main objective of the company is to help you get the cash you urgently need. We here at Title and Payday Loans work with a network of more than 700 licensed vendors who can help you get a title or payday loan extremely quickly. For a title loan, it doesn’t really matter what your credit history is.
The loan amount that you can qualify for would fully depend on the value of your vehicle. The process is just as fast and easy with payday loans. In fact, with our licensed payday loan network, you might be able to get approved for up to $1,200 in just half an hour!
We here at Title and Payday Loans take care of the most difficult part of the loan process, which is finding the right lender. Once you fill out a short online form with some basic information, our team will connect you with one of our licensed vendors in your area who would be happy to answer all of your questions.
Things To Know About This Company
One thing to know is that, If you are approved for a title loan, you would still be able to keep and drive your car as usual. Your car’s title will be used as collateral to secure the loan. Also, the lenders that Title and Payday Loans work with can offer you a payday loan of up to $1,200 or a title loan of up to $15,000.
The company works only with reputable lenders, so you can rest assured that the value of the vehicle will be determined according to a nationally recognized pricing guide. Finally, you should have an active checking account in order to find out if you can qualify for a payday loan with our vendors.
Ready To Apply For A Bad Credit Title Loan?
There are several types of loans for people on disability with bad credit. With some lenders, you might be able to qualify for a payday loan, if you have a source of income, while others are ready to offer a title loan if you own a vehicle.
Instead of spending hours or even days looking for the right lender, fill out a short form provided by Title and Payday Loans. Based on your information, the experienced team will find you a reputable lender that is a great fit for your situation. Complete the inquiry form now to get the urgent cash you need when you need it.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.