emergency installment loan

When You Need Emergency Installment Loans

Sometimes, unexpected expenses arise in life, leaving you without the money on hand to pay off bills, medical expenses, damage to your property, or other emergencies. Are emergency installment loans worth it, and when do you need an emergency installment loan?

An emergency installment loan is ideal when you need cash for an unforeseen expense. You can get the money pretty quickly, and you can quickly pay off any unexpected expenses.

As frustrating as it can be, sometimes life hits you unexpectedly, and it’s always good to have a plan for how to handle unforeseen circumstances with the right installment loan. The rest of this article will walk you through how emergency installment loans work and what situations call for this type of loan.

What Are Emergency Installment Loans?

Emergency installment loans are loans that require basic personal information like I.D., proof of income, and checking account statements to issue installment loans of up to $1,500. Typically, you can get approved within the day on an in-person application and have your money to pay off necessary expenses.

When Do You Need Emergency Installment Loans?

Emergency installment loans, as you might imagine, are best used for emergencies. There are lots of unexpected reasons you might need an emergency installment loan, but in general, you should only get an installment loan to pay off something important that you would otherwise end up defaulting on.

Medical Emergencies

Hospital bills are ridiculously expensive, especially if you need to go to the ER or have to have surgery done. These bills can range in the thousands of dollars, which most people don’t have on hand. You can expect to be getting bills for several weeks from the hospital since the billing department and the actual doctors treating you will bill separately.

The standard ER visit costs $1000, but if any medication or specialists need to be called in, you’re more likely looking at $3000-$4000. Medical emergencies for your dependents, parents, or pets can also be expensive, too. You don’t want to deny yourself or your loved one's necessary care, which is why emergency installment loans are beneficial in medical emergencies.

Funeral Expenses

Funeral expenses can be very high, ranging in the thousands of dollars. From flowers to the design of the casket, there are lots of elements that need to be accounted for when planning a funeral, and these expenses tally up quickly.

The sudden passing of a loved one or pet is tragic, and emergency installment loans can help you have the cash on hand to ensure that they are properly honored in their passing and that the accommodations show due respect for the deceased.

Natural Disasters

Whether you have insurance or not, natural disasters can be incredibly expensive if they damage your property. Certain types of natural disasters aren’t covered by insurance policies, which is where an emergency installment loan comes in to help you pay out for any necessary repairs.

Car Breakdowns

Some car troubles can be fixed pretty easily, but if your car suffers a catastrophic failure, then you might be looking at thousands of dollars to fix it. Transmission rebuilds or replacements, for example, can cost up to $7000, a sum most people don’t have squared away for emergencies.

That’s where emergency title loans can help—getting you the money you need now so that you can get back on the road sooner rather than later.


How Utah Title Loans, Inc. Can Help

Utah Title Loans, Inc. can help you get the money you need to pay off emergency expenses. The in-person process takes as little as 30 minutes and all you’ll need for an installment loan is a valid form of I.D., proof of income, and a statement from your checking account currently opened in your name. These loans are only available in-store.

Be aware that you will need to have an active bank account open in your name to qualify for a loan, and Utah Title Loans, Inc. will run a credit check before approving you for an installment loan.

With locations all around Utah, in addition to installment loans we also offer title loans of up to $15,000 and payday loans ranging from $100 to $500.

Get Started Today With An Emergency Loan

If you’re struggling with unexpected financial burdens and can’t make the payments you need, then an emergency installment loan might be the right option for you. The representatives at Utah Title Loans, Inc. offer title loans, payday loans, and installment loans for your needs.

All you’ll need to do to get started is bring your I.D., proof of income, and active checking account statement to one of our many locations around Utah. Don’t let sudden medical expenses, mechanical breakdowns, or other expenses hold you back; get your financial stability back with an emergency installment loan from Utah Title Loans, Inc.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.