Salt Lake
801-485-1210
27 W. 3300 S.
801-972-2715
3592 S. Redwood Rd.
801-776-1720
2275 N. Main St.
385-787-1725
8244 South State Street
Are you in a challenging and troubling financial situation? Were you recently denied for a traditional bank loan due to a poor or limited credit history? Did you once have great credit but then ran into some trouble due to an immediate death, divorce, illness, or sudden job loss? There are plenty of reasons and causes for poor credit. Sometimes it’s easy to maintain good credit, while other times it isn’t, due to a series of unfortunate events or overspending.
Here are some of the most common situations that result in a poor credit score:
Once an individual’s credit score drops below a certain level (typically a 500), it can make applying for a loan or another credit card incredibly difficult…if not impossible. This is because the applicant becomes high risk and therefore a liability to traditional lending institutions. Banks do not want to take the risk on lending money to an individual who is either struggling or cannot pay their bills.
So if one of the above situations has happened to you, and you are now in a position where you cannot seek out a personal loan to pay off your debt and catch up, what do you do? The perfect solution here is car title loans. Title loan companies do not require an applicant to have perfect credit history to apply for a title loan. Title loan companies solely require the title of a vehicle to hold as collateral until the title loan is paid in full. Working with a title loan company like Affordable Title Loanswill also ensure that individuals get a fair and flexible loan that allows for them to pay off the loan in full, pay off their debt, AND begin improving their credit history…all in one simple step.