3 Types of Same Day Loans Bad Credit Notwithstanding

June 4, 2021 | Louis Tully

same day loans bad credit

Sometimes, life can put us in situations where we don’t have the luxury of time to deal with them. We suddenly find ourselves in need of money, and in need of it quickly. That is when Utah Title Loans, Inc., Inc. can provide you with same day loans bad credit notwithstanding (or nonexistent altogether).

Here are some of the options for same day online loans that you can consider.

3 Options for Same Day Loans Bad Credit

Utah Title Loans, Inc. offers 3 types of same day loans bad credit or not:

  • Title loans.
  • Payday loans.
  • Installment loans.

The three of these same day loans bad credit notwithstanding share certain similarities:

  1. They’re easily accessible for most people and don’t require you to jump through multiple bureaucratic hoops.
  2. You will only need to provide a few documents.
  3. They accommodate all types of incomes.
  4. They don’t go on any credit reports as Utah Title Loans, Inc. doesn’t report its loan information to any credit bureaus.

Still, there are a few important distinctions that make each of them unique.

Let’s break it down so you can decide which of these same day loans bad credit or not suits your needs the best.

apply for a title loan

Type 1: Title Loans

Title loans are a type of secured loans. Secured loans basically mean that the borrower puts up an asset as collateral when applying for the loan. In the case of title loans, your car title (not the car itself) will be acting as collateral.

This means that to qualify for a title loan with Utah Title Loans, Inc., you need to belong to a specific group – legal adults who fully own their cars.

Due to this security, Utah title loans are probably the easiest to get approved for among the 3 types of same day loans bad credit or not. You can easily get a title loan even if you’re unemployed or your income is irregular – you aren’t even required to provide proof of income!

It’s an option for those who need to cover larger expenses as well, as you could get up to $15,000, depending on your car value.

How to Qualify for A Title Loan

You’ll need to provide the following items to qualify for a title loan:

  • A state-issued photo ID/driver’s license to verify your identity and age.
  • The lien-free vehicle title in your name to prove your car has no outstanding financial obligations against it and fully belongs to you.
  • The car itself to determine the maximum loan amount based on its value.

Type 2: Payday Loans

A payday loan is an unsecured type of loan. Unlike title loans, you won’t need to provide collateral – just the qualifying items from the list below.

You’re typically asked to provide your most recent pay stub as proof of income to qualify for a payday loan, but it doesn’t mean you’re automatically disqualified if you’re unemployed.

You could use alternate income streams to qualify. Ask the loan representative about your options and make sure to have the correct documentation they’ll request.

Payday loans are a good option for those who only need a few hundred bucks to solve their financial problem (you could get up to $500).

How to Qualify for A Payday Loan

Here’s what you’ll need to qualify for an online payday loan:

  • A government-issued photo ID to prove you’re over 18.
  • Your most recent pay stub (or alternate proof of income).
  • A blank check from an active checking account in your name.

apply for a signature installment loan

Type 3: Signature Installment Loans

Signature installment loans are unsecured loans, the same as payday loans. Though there are a couple of important differences between the two:

  • Installment loans may be larger than payday loans.
  • Installment loans are paid based on the installment plan the loan representative sets up for the borrower. Payday loans, on the other hand, are usually fully due on the next payday.

You can get up to $1,250 with a signature installment loan. It's a good middle point between payday and title loans.

How to qualify for an installment loan:

To qualify, you’ll need:

  • A government-issued photo ID to prove you’re over 18.
  • Your most recent pay stub (or alternate proof of income).
  • A bank statement from a checking account in your name.

How to Get Same Day Loans Bad Credit or Not

The application process looks similar for all the 3 types of these same day loans bad credit notwithstanding.

You start by filling out and submitting an online form on Utah Title Loans, Inc. for your chosen loan. Soon after you’ll be getting a call from a loan representative, who’ll provide further instructions and schedule an appointment for you.

You’ll need to take the required items to that appointment. The loan representative will assess everything to determine if you qualify for the loan you’re applying for and what amount do you qualify for.

If they approve you, you’ll finish the final paperwork and get the cash you qualified for the very same day.

Submit Your Request for Same Day Loans Bad Credit or No Credit

Reach out and learn any details you need to know or start your process right away and get your loan by the end of the day.

The entire process typically takes under an hour and could take no more than just 30 minutes if everything’s in order.

That is pretty much everything you need to know about getting same day loans bad credit or not. Submit your request for the loan that suits you to address your financial problem as soon as possible.