5 Essential Uses Of Loans For Poor Credit

November 19, 2021 | Louis Tully

loans for poor credit

Poor credit impacts the lives of many Americans, which is one of the reasons we offer loans for poor credit. Poor credit can raise the cost of your car or home insurance, make getting a credit card difficult, or cause complications when applying for some jobs.

The good news: poor credit does not need to stand in the way of you qualifying for our loans. Loans for poor credit from Utah Title Loans, Inc. include Utah title loans, payday loans, and installment loans. Here are 5 big ways that loans for poor credit can help you today.

How Do Loans For Poor Credit Benefit Me?

1. Immediate Relief For Big Emergencies

When you’re having trouble paying rent or your mortgage, poor credit can make getting a loan difficult when you need help just keeping a roof over you and your family’s head.

With that type of financial emergency, you need help fast. You may qualify for all of our loans for poor credit, including title loans, payday loans, and installment loans, in as little as a single day.

Another element that makes our loans for poor credit extremely fast to obtain is that you can start the process online.

medical bills

2. Coping With Medical Bills

If you’ve had to go to the emergency room or even just undergo a scheduled procedure or surgery, you know how expensive medical care can be, even with insurance. Having poor credit makes it even more difficult to pay medical bills on time.

Loans for poor credit are designed to provide short-term relief for temporary financial emergencies, such as unexpected high medical bills. At Utah Title Loans, Inc., you may qualify for up to $15,000 in title loans, up to $500 in payday loans, and up to $1,250 through signature installment loans.

3. Paying For Auto Repairs

Just like a trip to the emergency room, much-needed car repairs can strike at any time. You can get into an accident, experience electrical difficulties, or need to replace an expensive item, like brakes. Common auto repair costs average $500, but they frequently go higher.

With loans for poor credit, you can cover your repair bills and get back on the road fast. And with title loans, while your title is used as collateral for the loan, you actually keep your car for the duration of the loan term.

4. Covering Home Repairs

While some home repairs can wait, many can’t, especially when a home ages. Common home repairs are among the most expensive: new siding, roof replacement, a repair to an HVAC system, or needing a brand-new system.

A general rule of thumb: home maintenance can cost you on average 1 percent of your home’s value each year. For example, if you own a $250,000 home, that would mean maintenance will likely run you $2,500 a year or $250 a month. 

When you must address home repairs, loans for poor credit can help. You may qualify for the most relief with title loans (depending on your car value), but Utah payday loans will help you cover a repair cost in between paychecks. And with installment loans, you’ll cover the repair and pay off the loan over time in a set number of installments, making home repairs extremely manageable.

urgent travel

5. Taking Care Of Last-Minute Travel

Many can plan ahead for travel, whether it’s a vacation, a business conference, or a weekend trip just to get away from it all.

But last-minute travel happens frequently. There could be a family emergency, a death in the family, or trouble with needed travel reservations that require rebooking. Loans for poor credit help turn those last-minute travel headaches into successes. 

What You Need To Qualify For Loans For Poor Credit

Having poor credit never instantly disqualifies you from qualifying for title loans, payday loans, or installment loans at Utah Title Loans, Inc. We also never report your loans or information to credit agencies, which means your credit score will remain unaffected.

To qualify for each of our loans, you need to be at least 18 years old and have a government-issued ID or driver’s license. For title loans, you also need the lien-free title to your vehicle and your vehicle for inspection.

For payday loans, you must also have your most recent pay stub and a blank check from an active checking account in your name, while for signature installment loans you will need proof of income and a checking account statement in your name.

The Loan Process

To get started, you can simply go online to fill out our Utah fast cash form for the loan you’d like to get.

A loan representative will reach out via phone to discuss the loan you chose and the required items. They will also provide you with further instructions and schedule an appointment with you.

During the appointment, your required items will be reviewed (and in the case of a title loan, your car will undergo a quick inspection) to determine if you qualify.

If you do qualify, you will just have a few forms to sign and you can receive your loan on the same day or the very next business day. 

Poor Credit Shouldn’t Keep Help Away

Having poor credit does not mean you can’t take advantage of the financial relief our loans can provide. You can find out more about our loans and start the process for one by today by simply completing and submitting the online form!