Easy And Fast Cash Loans For Unemployed Workers
April 22, 2021 | Emma Frost
There are times in life when you find yourself cornered. Finding financial assistance isn’t easy, to begin with – but it’s especially hard when you’ve got no income.
When you’re employed, you can at least resort to personal loans; but options for cash loans for unemployed are quite limited. At the very least, you know you’re unlikely to find any at major banks. So what can you do?
One optimal option among cash loans for unemployed would be to get title loans online fast. Thanks to our flexible qualifying requirements and general interest in giving money to as many borrowers as possible at Utah Title Loans, the unemployed could have better chances to get approved for title loans than other loans.
How Is It Possible To Get Cash Loans For Unemployed?
So what exactly makes title loans an optimal option for the unemployed?
Well, first of all, title loans are secured loans. That means if you’re approved, your car’s title will be acting as collateral – providing us with a guarantee that we’ll be getting our money back one way or another.
This security enables us to be freer in our approval policy and give money to borrowers that would be possibly turned away by traditional financial institutions.
Secondly – and this is where the flexible qualifying requirements come into play – unlike banks, we can possibly accept all sorts of possibilities when it comes to loan repayment. Banks usually demand borrowers to have a steady stream of sizable income. We at Utah Title Loans on the other hand try to be a little more flexible and allow you to use other forms of income to repay the loan.
That’s why your chances to get cash loans for unemployed can be higher with Utah Title Loans than with other traditional financial institutions.
Options For Paying Off Cash Loans For Unemployed
So you applied to get title loans online fast. What now? Well, even if you are unemployed, you will need to pay the loan off eventually – whether you have a steady income source or not.
Here are a few payoff options you could utilize if you don’t have active income.
1. Your Savings
It’s pretty understandable if you don’t want to deplete your savings all at once if you’ve recently lost your job.
So getting cash loans for unemployed to handle any unexpected large expenses and paying them off over a more prolonged period could be something you’re more comfortable with. If that’s the case, you could let us know and we can try to figure out the best solution.
2. Unemployment Or Welfare Benefits
No major bank is likely to consider unemployment or welfare benefits a stable or sizeable enough income to approve a personal loan. If you need to pay back your loan using your unemployment or welfare benefits, come talk to us and we will discuss your choices.
3. Court Settlements Or Alimony
If you don’t have active income but are getting some cash from someone else because the court has decreed so, you can provide proof to us and we might consider it a legitimate payoff option.
The thing about any of these options is to just come talk to our loan representatives. We will sit down with you to come up with the best solution so you can repay the loan. The good thing about this title loan is, if you make the repayments on time, you don’t have to worry about losing your vehicle. So it is important you have a way to repay the loan.
When To Get Cash Loans For Unemployed
The ease at which you can get title loans online fast might tempt you into applying for the loan when there are other options you should look into instead. Before applying, do make sure you’ve exhausted all the options that wouldn’t be adding to your financial obligations.
The thing to remember is that this loan should only be used when you have an emergency you cannot handle alone. This will not permanently fix your financial situation or eliminate your debt. So if you are taking this loan out to get rid of debt or as a permanent fix, you may want to reconsider.
How Do I Get Cash Loans For Unemployed?
Getting title loans online fast is easy. All you’ll need to get started are your phone and a decent internet connection. Make sure to get the required items in order before applying. You’ll need:
- A driver’s license or state-issued ID proving you’re over 18;
- Your car for a quick inspection to determine how much you could qualify for;
- The car title that must be in your name and completely lien-free.
Go to the Utah Title Loans website to fill out the online form for title loans. Once the form gets processed – it shouldn’t take long – you’ll be contacted by the loan representative who’ll provide further instructions and set up an appointment for you at the nearest Utah title loan location. Now would be a good time to ask the representative about your options if you’re unemployed.
Take the required items to the appointment. The loan representative will inspect the vehicle, as well as assess the documents, and determine if you qualify for the loan and for how much cash you could qualify for.
If you’re approved for the loan, you will complete the easy paperwork right then and there and get the cash you qualified for – which could be between $300 and $15,000. This entire process typically takes under an hour and could take as little as 30 minutes.