5 Tips For Successfully Qualifying For A Utah Installment Loan
September 10, 2021 | Peyton Sawyer
Qualifying for a Utah installment loan can be quite simple when you work with the right place.
Finding yourself in a position where you are looking for a loan that doesn't require collateral, may lead you to move away from traditional bank loans and to consider Utah online installment loans through a private lender.
This type of financial aid is easy to qualify for and its process can be completed quite quickly, making it one of the fastest ways to get needed cash. With that said, there are a few things you need to keep in mind to have the best chance of success. But first, let's take a look at the definition of a signature installment loan.
What Is A Signature Installment Loan?
A signature installment loan is often called a "good-faith loan." In other words, you don't need any collateral to qualify. Instead, you give your personal information, alongside your signature and that's it.
People often use a Utah installment loan for emergencies, such as:
- Funding medical bills that were either unexpected or higher than expected.
- Paying for urgent travel costs.
- Fixing a home or a car following a storm or other types of damage.
Thankfully, the approval process is rather straightforward. When getting your signature installment loan through Utah Title Loans, Inc., you can finish your process in as little as half an hour and if you qualify, you can receive your money on the same day or the following business day. However, let’s go over some tips to keep in mind to ensure you gain approval.
Top 5 Tips For Getting Approved For A Utah Installment Loan
1. Have A Bank Account
While some loans do not need you to have a bank, our Utah installment loans do. The account must be in your name and be active in order to qualify since one of the requirements at Utah Title Loans, Inc. is to provide a bank statement from a checking account in your name.
If you don't have one, it's essential to apply for and get a bank account before starting the process.
2. Ensure You Can Repay the Loan
To qualify, you need to ensure you can actually afford to repay the loan. This is also reflected on the required documents in the form of providing some proof of income.
It's likely that you already know whether you can pay it back, but if not, have a look at your budget and see what can work for you. Studying your budget will show you all your spending vs. your income, making it easy to calculate your leftover cash. If it's enough to make the minimum repayments, you should be good to go.
3. Get All The Documents Together Before Starting the Process
The process is designed to be seamless. But it can't be if you don't have all the necessary paperwork together before you start.
All you need for a signature installment loan from us are the following documents:
- Driver's license or a government-issued ID card.
- Proof of income (typically, your most recent pay stub.)
- Checking account statement (the most recent 30-day statement.)
Once you have these documents together, you stand the best chance of a smooth approval process.
4. Consider Your Credit Score
At Utah Title Loans, Inc., we welcome all credit scores. Whether yours is good or bad, you still have a chance to qualify.
We may check your score when you submit a request for a Utah installment loan. To ensure you stand the best chance of qualifying, it can be worth talking to one of our representatives by calling 800-514-2274 before beginning the process.
5. Know The Process Inside Out
Our final tip for successfully qualifying for an installment loan in Utah is to make sure you understand the entire process. You don't want anything to surprise you when you're dealing with money.
So, with that in mind, here is the step-by-step guide to our process below.
How To Get A Utah Installment Loan
- Fill out the online Utah installment loan form on Utah Title Loans, Inc.
- Wait for one of our loan representatives from our closest location to give you a call.
- They will tell you about the loan process, the documents you need to bring in, and answer any of your questions during the conversation. If you forget to ask questions at this stage, don't worry. You will get another opportunity later on. The loan representative will also schedule an appointment with you.
- Head to your our closest installment loan location. Remember to bring the documents listed above.
- When you arrive, you will sit down with one of our loan experts. They will examine the documents you've brought to ensure they meet our qualifying requirements.
- If you qualify, the loan expert will guide you through some simple paperwork and ask for your signature.
- Finally, you'll receive your Utah installment loan on the same day or the following business day!
This process can be over and done within as little as half an hour, allowing you to receive the money you need as soon as the same day you start (or the following business day, depending on bank delays.)
Qualify For A Utah Installment Loan Today!
Our five tips for qualifying for a Utah installment loan will greatly improve your chances of succeeding. But if you still have some questions, don't hesitate to get in touch filling out the contact form or by calling us at 800-514-2274.
One of our loan experts will be on hand to answer all your queries and iron out any concerns. Your process for a signature installment loan can be finished in just 30 minutes.