The economy in the U.S. has been brutal over the past five years and has taken its toll on many families. Unemployment is still at historically high levels and creates serious financial problems for those affected by it. Losing a job is not only demoralizing emotionally; it creates a severe amount of financial stress when it comes time to pay the monthly bills. If you are unemployed and find yourself in this sort of situation, there may be a fast solution – a title loan.
While not as well-known as a conventional bank loan, a title loan is much easier to acquire. A title loan, or auto title loan, is one that is secured by a vehicle. If a potential borrower has a vehicle with a clear title, he or she can obtain one of these loans. With a loan from a bank or a credit union, there is a somewhat lengthy process required to determine whether or not a potential borrower will actually receive the funds. Not so with a car title loan.
Speed is one of the many benefits of doing a vehicle title loan in Florida. Embassy Loans is one of the leading providers of such loans and has been doing so since 2005. The company understands that people run into emergency situations and need access to cash very quickly. An auto title loan can be processed in an hour. There is no unnecessary paperwork that holds up the process. Since the loan is secured by a vehicle, there is no need for a credit history nor is there a need to examine any income documentation.
Someone who is unemployed need not worry about having a job or having good credit history when it comes to a title loan. An application is filled out and a borrower is asked to produce a few pieces of documentation. He or she will be asked to show the vehicle, the title of the vehicle, and a form of photo identification. Embassy Loans, for example, will then work to determine your repayment plan and have your cash to you in one to two days. The process is quick and can help someone in need to meet their financial obligations.
For a fast source of emergency cash, there are few alternatives that are as quick and easy as a car title loan. Borrowers do not need a job or good credit history. The loan can be secured if a borrower has a vehicle with a clean title.