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Many consumers looking for loans to meet their short term cash needs do not know about the ease and availability of obtaining a title loan.  You can even apply online, directly from the lenders website.

Title loans are loans that are similar to payday loans as they are offered for a short period of time -usually for fourteen to days with an option of extending the the repayment terms.  This term varies from lender to lender.  Title loans are mostly used for unexpected cash needs that can come up – short on rent, dental and medical bills, gas, emergency travel, etc. The only difference between title loans and the payday loans is that to apply for a title loan the borrower must be the owner of a vehicle.  The vehicle will be used as collateral to secure the loan.

Title loans are beneficial in many regards but there are a few pitfalls, so it is important to seek a reputable and knowledgeable lender who can answer any questions that you may have.

Tennessee lawmakers will be discussing proposed changes to the title loan industry in a house committee on Tuesday.  Some of the proposed changes are limiting the administrative fees charged by title lenders with their ultimate goal of capping the interest rates at 36 percent.

Under current state law, title loans are allowed a 30 day repayment term.  If the loan is not paid off in 30 days it will automatically roll into a new loan in which the lenders are allowed by the state to charge a 2 percent interest along with an administrative fee.

Supporters of title lending see this as a small price to pay for the ease and convenience of utilizing a title lender.  These loans provide an alternative for consumers who are are unable to secure financing from a mainstream financial institution.

Bernie Madoff, the loser financier, pleaded guilty last Thursday to 11 charges and was led off in handcuffs – just as he deserved.  I was afraid the judge would have sent him to his lavish New York penthouse to await sentencing, but the judge was having no part of that.

If there is any justice in this country, this swindler will spend the rest of his life in jail.  My hope is that the judges slaps him with a life in prison sentence with no chance of parole.  No chance of spending a few years in the clink and then being released to his excessive lifestyle of private jets, houses all over the world, and staff to attend to his every need.

Unfortunately, we will not have the pleasure to see this man squirm in court since he took a plea deal.  It also means that he will not be able to rat on his wife and sons who were undoubtedly involved or at least aware of his crimes.  Hah, good old Dad, taking the blame so that his swindling family can continue to enjoy life to excess with no remorse for the pain and devastation that they have caused the thousands that have had their lives ruined by this selfish man.

Investors around the world were affected by this jerk, but I came across a great article in the Miami Herald that quotes several south floridians devastated by scheme. 

http://www.miamiherald.com/1374/story/946526.html

Richmond, Virginia – According to the Virginian Pilot, a house committee vetoed a bill that would have limited the interest charged on car title loans to 36 percent annually.

Car title loans require your vehicle as collateral and do carry hefty interest rates.  Critics contend that borrowers do not realize that the minimum payments that they are required to pay may not reduce the principal amount owed.

However, spokesmen for the title loan industry say that people who utilize this product do not have the means to obtain loans from banks, ask for a credit line increase on their credit cards, or the ability to borrow from family or friends.

The committee voted 12 – 7 to table the bill, HB109.

Tennessee leads the nation in the number of people going broke and many fear that this trend will continue as the economy slows.  The rate of bankruptcy filings in the first quarter of 2008 was more than double the national average.  With the rise in costs of food and gas, many families are finding it hard to make ends meet.  This is even affecting consumers on the higher end of the income scale. 

Before making the difficult decision to file for bankruptcy protection, consumers should consider other alternatives and use bankruptcy as a last result.  Look at selling unused household items on ebay or craigslist, asking a friend or family member for a short term loan, or consulting a title loan lender to obtain cash by using your automobile title as collateral.  These methods can buy you more time to get your finances back in order.

Barack Obama was sworn in as our 44th president last Tuesday.  Some changes that his campaign promised may soon be implemented.  One promise is a 36 percent cap on interest rates for all Americans.  This proposal could extend to the Payday and Title Loan Industry that more than 30 million Americans depend upon.  These consumers utilize Payday and Title Loans to obtain a short term loan without negative long term consequences.  Currently, this industry is being regulated and overseen at the state level.  If a rate cap of 36 percent is passed by congress the last option available to millions of consumers who need a short term loan will be eliminated.

Phew…  Christmas is almost officially over and as usual, I went way over my budget.  It seems to happen to me every year.  Frantically doing my last minute shopping and end up making impulse purchases that I really cannot afford.  Sound familiar?  What do I do now?  Pay my bills late?  Write a check for my bills and keep my fingers crossed that they do not clear before I get paid?  Fat chance of that, the bank always wins that game.  Not to worry, I can take advantage of having a free and clear title on my vehicle to get the cash I need to survive until payday.  And – I get to keep possession of my car!!!

Sounds too easy, right?  Title Loans get a bad rap and are often viewed as predatory lending.  However, for consumers who do not have other options (borrowing from family, getting a cash advance on a credit card, obtaining a personal loan from the bank) – they make sense.  I have done my research and learned a lot about Title Lending along the way.

In conclusion, Title Loans are easily available and can bail you out in a financial emergency.  Make sure to choose a reputable lender and research all aspects of the arrangement for signing anything!

Holiday Title Loans – the Easiest Way to Get Cash for Christmas!!!

Fast Auto Title Loans are available online. Are you in need of Fast Cash for the Holidays? If so, applying for an Auto Title Loan is fast and simple at www.AutoCashUSA.com. Click below to start your Holiday Title Loan Application Online! No Faxing, No Problems, Quick Title Loan Service from www.AutoCashUSA.com

www.AutoCashUSA.com

Here is a list of frequently asked questions about Title Loans:

1)  Do I need to have good credit to get a Title Loan?

No. It is typically only one of factors that is looked at if you apply for a loan. Bankruptcy and other forms of bad credit will not automatically disqualify you for a car title loan. Most lenders will approve you if they we feel that you have sufficient income to make the monthly payments and repay the loan.

2)  What factors determine how much I can borrow?

Various factors are taken into consideration such as the year, make, model, mileage, and condition of the vehicle. In addition, the lender will make a decision based upon your ability to repay the loan and make the monthly payments. You can still apply with even if you have bad credit or no job.

3)  What if the vehicle is not registered in my name?

If you have the title to the vehicle and it was properly signed by the previous owner, you are still eligible for a loan.

4)  What if I lost my title?

That’s OK. Usually, you can still be approved for a loan even if you do not have the
title. However, the vehicle must be paid off, and you must be the registered owner of the vehicle.

5)  Is there a penalty if I pay the loan off early?

No, not at www.AutoCashUSA.com.  They only charge you for the days that you have the loan out.

Please check back for more answers to Frequently Asked Questions about Auto Title Loans!

According to The Washington Post, Freddie Mac tightened home lending rules in 2007 and will continue to do so. Their standards have become increasingly stringent and will no longer lend to “risky” consumers.  ”Risky” loans are defined as loans granted to people with less than perfect credit.  Due our current economic health, many lenders are following suit and not lending to consumers with less than stellar credit.

As a result of our injured economy lending needs have increased.  Creditors are becoming relentless in calling to collect outstanding balances from their borrowers. Most of these lenders are issuing out long-term payment plans that will take forever to pay off.

As I said before, the need for financial help is prevalent amongst all of us. Many have turned to borrowing money from family and friends and not banks. If borrowing from family or friends is an option, then great!  However, if this is not an option for you there is an alternative for borrowing money. Title loans provide fast access to the cash you need. They also provide high approval rates with no hassle.

You may ask what is a title loan? A title loan is a loan granted to a borrower in exchange for temporary possession of the borrowers car title. The great thing about title loans is that the borrower maintains possession of their car!  You can have cash in your hands and drive your car. There are only a few requirements to get the loan. Most lenders require that the borrower posses the following:

1. Clear car title
2. Valid drivers license or state ID
3. Proof of income
4. The car for inspection

Sounds too good to be true? Well it isn’t  To learn more about title loans, contact your nearest title loan lender.  As always, be sure to choose a reputable lender – like the folks at www.AutoCashUSA.com or www.CarTitleLoanToday.com