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6 Expert Tips For Rebuilding Your Credit

When you have bad credit, it can be hard to qualify for loans, rent or buy homes, or even get hired by a new employer. It also can be hard on your emotional health and negatively affect your relationships. If you find yourself asking, “Where can I get a loan with bad credit?”, we hope you’ll think of us. However, while you can qualify for a bad credit loan with us in Texas, we also want to help you improve your credit score and financial future. In our blog today, we will provide you with helpful tips and expert advice for when you’re trying to rebuild your credit.

Not sure what’s affecting your credit score in the first place or how your credit score works? Check out our blog post on what’s impacting that respected number.

1. Find out your credit score

First things first, right? You won’t be able to improve your credit report unless you first know what it is and what your goal is. Here’s what your number means:

  • 300-619: poor or bad credit score
  • 620-679: average credit score
  • 680-739: good credit score
  • 740-800: excellent credit score

Even if you’re in the average range, many lenders are wary and will either charge higher interest rates or not give you a loan. When you have an excellent credit score — as you can imagine — more opportunities will be available to you.

When you find out your credit score and check your credit report, see what specifically is affecting your credit score: Late payments? Missed payments? Your debt utilization ratio? Whatever it is, make that your focus.

You’re allowed to order a free report from each of the three credit bureaus in one year, so order one today to get started.

2. Catch up on payments

Your payment history is responsible for 35 percent of your credit score. In other words, being behind on payments is the biggest influencer on your credit score. You most likely can’t pay everything at once, but don’t worry — contact your creditors, work out a payment plan, and start paying what you can.

When you’re going through this process, you need to be ruthless. Pinch pennies wherever you can, make a plan of attack, and keep to it. When it seems overwhelming or ineffective, look at all you’ve paid over the last couple of months and envision how nice it will feel when you’re no longer in debt.

3. Pay bills on time

Even if you can’t pay the entire amount all at once, make sure you pay the minimum amount possible at the very least. This even includes non-credit bills such as utility or rent payments. These late payments can be reported to the three credit bureaus and negatively impact your payment history as well.

If you have a difficult time remembering to pay bills, set up automatic withdrawals or reminders so you don’t miss any payments.  

4. Chip away at your debt

This is similar to the last tip, and just as important if you want to get out of debt and really improve your bad credit score. Your credit utilization ratio comes in right behind your payment history in order of impact on credit score — 30 percent of your credit score is determined by your credit utilization. For example, let’s say you have a credit availability of $10,000. If you have used $8,000 of that, then your credit utilization is 80 percent.

Owing a large percentage of your available credit will count against you on your credit report. For this reason, you’ll want to pay down your remaining debt as quickly as possible. Have a garage sale, find a second job, cut back on expenses — whatever it takes!

5. Avoid closing or opening credit card accounts

The age of your credit account is responsible for about 15 percent of your credit score. While you’re trying to improve your score, avoid altering the age of accounts whenever possible. If you have to close one because of how late you are on payments, then there’s no way to avoid it. However, keep all the same credit accounts whenever it’s in your control.

6. Be patient

Just as you most likely didn’t get yourself into this situation in one day, you won’t be able to get out of this situation in just one day either. It could take 60-90 days (or longer) before you even start to see your credit score improve, and depending on how much debt you have it could be years before you see the credit score of your dreams.

As you follow all of these tips though and practice good financial habits, you can be confident that you’ll one day see a credit score above 700. And even if it takes years before you get there, at least you’ll save thousands of dollars in interest in the process.

If you’re not quite there yet, then that’s OK. When you need a loan but have bad credit, Your Loan Depot can still help. We have some of the best loans for bad credit in Rosenberg, Tomball, Mansfield, Humble, Conroe, and our other Texas locations. We’re happy to provide loans for people with poor credit and help them get back on their feet again. When a financial emergency hits, your credit score won’t wait for you. Let us help — get a loan with bad credit today!

Your Guide To Paying Off A Payday Loan

There are plenty of financial emergencies in the U.S. that can warrant applying for a payday loan, but many people are afraid to do so because paying one of these loans can be intimidating. When all of your other resources are exhausted though, a payday loan may be your best option. Instead of being confused or unprepared later on, do research beforehand and make sure you’re committing to a payday loan repayment plan you can handle.

For payday loans in Texas, reach out to Your Loan Depot. We’re a Top Rated Local for payday loans in Texas, and we’re eager to help you improve your financial situation. We aim to not only be your loan provider, but also to provide you with the resources you need to succeed. Read our blog today for tips and tricks for paying off a payday loan.

4 Ways To Get More Money

When you’re in the market for a payday loan, you’ve likely had something come up that limits your cash. You may truly only need money until the next payday, but why not save up some extra money while you’re at it and be prepared for if something else comes up?

  1. Cut your expenses. Make a plan of how much money you have coming in and how much money you have going out. From there, plan out to the last tiny detail! Do you really need that subscription? Are you even using that gym membership? Are you spending too much eating out? By analyzing every expense and cutting costs, you’ll be surprised how much extra money you could have in a month. This extra cash could go toward paying off your payday loan; if you keep it up, then it could go toward your rainy day fund so you don’t have to take out a loan in the future.
  2. Have a garage sale. After you fill out a payday loan application, take a serious look at everything you have. Do you really need it? Sell all of your unused stuff on Craigslist or host a garage sale. By getting cash from neighbors, friends, and strangers for all of your unwanted products, you’ll have more money to quickly pay off your payday loan.
  3. Get another job. Because you qualified for a payday loan, you already have a job. What’s stopping you from taking another part-time job though? This will depend on your family and home situation, but you could make a serious dent in your debt by taking a part-time job — even if it were just on the weekends. It may seem too stressful initially, but imagine the decreased stress you’ll experience in just a few months from working hard and saving up more money!
  4. Change your withholding pay. You love the tax benefits and the ease of conscience you get from consistently putting money away into your 401(k) or another program your company has set up for you. However, when you’re trying to pay off a payday loan you want all the extra money you can get. Fill out a new W4 and adjust so you get more from your paycheck each week. You can always adjust it again later when you have some more money in your savings account.

3 Ways To Plan For Your Loan Payments

Everything above talked about ways to save just a little more money so you can pay your payday loan off with minimal stress and risk. Now, let’s talk about ways you can handle and research for the payday loan itself.

  1. Automate the debt payment. Are you tempted to spend money if you have it? If self-discipline with money isn’t really your thing, consider setting up automatic payments to repay the loan. Visit your bank and automate the debt repayment to go directly to your lender as soon as it reaches your bank account. Many lenders can even help you set up these automated payments, so just ask them if that’s something you’re interested in.
  2. Ask for an extended payment plan. This isn’t always an option, but it’s always good to check if you know that you’ll have a hard time repaying your loan. An extended payment plan (EPP) typically allows for four extra pay periods before you pay back the loan. Payday loan companies will sometimes agree to this if they see you’re serious and responsible about repayment.
  3. Check for prepayment penalties. Some payday loan locations will penalize you for paying off your debt early. Though you may want to pay it all off as soon as you have the cash to do so, the charges against this could be detrimental. Do your research beforehand so that you can avoid these additional costs later — sometimes paying it off early and paying the penalty will still save you money instead of paying the additional interest, so it’s definitely beneficial to look into this.  

Your Loan Depot has 10 payday loan locations in Texas so we can best help you in your time of financial need. Whether you’re looking for payday loans in Bryan, Stephenville, Pearland, Corsicana, Houston, or in another Texas city, reach out to us. Our payday loans are for up to $1000. If you need more money than that, consider a title loan.

We also offer payday loans online, but we have service in both Spanish and English when you come into one of our locations. Contact us today to get started!

Las Emergencias Financieras Más Comunes Para Las Personas En Los EEUU

Desafortunadamente, la vida está llena de problemas incómodos y, frecuentemente, caros. Sí, es posible planear para los malos tiempos. Pero cuando viene la próxima emergencia y no tienes efectivo en tu cuento de ahorros, ¿qué puedes hacer? A veces, simplemente necesitas efectivo rápidamente. Si has experimentado o estás experimentando algunas de las emergencias financieras en este blog, debes intentar a obtener un préstamo rápido a través de Your Loan Depot en Texas. Estamos aquí para ayudarte a mejorar tu vida.

Emergencias Médicas

Si tienes el seguro de salud o no, las emergencias médicas todavía están caras y pueden agotar tu cuenta de ahorros y tu cuenta corriente. Además, hay algunas emergencias financieras — como cirugía para el perro — que no damos pensamientos a y no estamos listos para nada.

  • Tu o tu ser amado. Cuando planeas por una emergencia, no significa que va a pasar. Simplemente significa que tendrás el dinero necesario si algo sí pase. Por supuesto, nunca sabes lo que la emergencia financiera será, cuando la pasará, o cuánto te costará. Si has sido ahorrando, algo pasa, y no tienes bastante dinero, un préstamo de día de pago o un préstamo por título de carro pueden ayudarte a pagar la diferencia.
  • Tus dientes. Cuidas tus dientes y vas al dentista cada año, pero ¿qué pasa cuando necesitas una endodoncia o tienes un diente astillado? Esta es una situación costoso y común, y muchas personas no planean por una situacion asi.
  • Tu mascota. Las mascotas son miembros de nuestras familias, ¿verdad? Pero si una mascota está herida o necesita un cirugía y no tienes las finanzas necesarias, puede ser una situación incómoda.

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Cambios De Trabajos

Si tú cambias o pierdas el trabajo, o tu cónyuge también tiene un cambio, tendrás muchas emociones intensos. Si tienes el trabajo de tus sueños al otro lado del país, probablemente estás emocionado. Si pierdas el empleo, probablemente sientas abatido. Sin embargo, con ambas situaciones hay razón para ser ansioso sobre tus finanzas.

  • Perdiste tu trabajo. Si sabías antes o estabas sorprendido con el cambio, habrá estrés en tus finanzas. Si no tienes un trabajo nuevo para inmediatamente después y no tienes mucho dinero en ahorros, un préstamo de día de pago o un prestamo de titulo de auto pueden ayudarte muchísimo.
  • Tu cónyuge perdió su trabajo. Cuando tú y tu cónyuge decidieron estar juntos, cometieron ayudar el otro durante los tiempos malos y buenos. Si has tenido dos ingresos y de repente uno está perdido, los efectos pueden ser tremendos. Con suerte, estabas ahorrando todo o parte del ingreso segundo en caso de una emergencia así. Pero si ustedes no lo hicieron, pueden obtener dinero urgente a través de un préstamo de una compañía de préstamos.
  • Tienes un trabajo nuevo. El resultado podría ser una mudanza al otro parte del país o simplemente al otro parte de tu ciudad. Sea como sea, podría estar costoso. Muchas veces, la compañía nueva te ayudará con algunos gastos, pero no con todos. También necesitarás tiempo sin trabajar para hacer todo lo necesario para la mudanza, que significa menos tiempo que estás trabajando y ganando dinero.

Reparaciones Inesperadas

Parte de la responsabilidad que lleva con ser dueño de una casa o una coche es poder pagar para las reparaciones. Desafortunadamente, muchos de nosotros no planeamos por estas situaciones. Si un accidente que fue tu culpa o no, un desastre natural, o una grieta en la fundación de casa causa la necesidad de tener reparaciones, muchas veces el seguro no pagará todo. Muchas personas en los EEUU acumulan mas deuda porque no tienen dinero suficiente en los ahorros para las reparaciones.

Viajes Inesperadas

No quieres estar morboso, pero también necesitas estar preparado para viaje inesperada, que típicamente ocurre a causa de la muerte. Si tu amigo o un miembro de tu familia está muriendo o necesitas ir a un funeral, estará caro. Volando está costoso, incluso si planeas en avanzo. Cuando compras un billete de avión para visitar a su primo, tio, o más en el hospital, probablemente no tienes mucho tiempo. En una situación así cuando necesitas dinero urgente, podría usar un préstamo de día de pago. No permitas que las finanzas te impiden de estar con tus amigos o tu familia durante un tiempo de necesidad.

Cambios Financieros Inesperados

Todo de que ya hemos hablado involucra las emergencias en que tienes que pagar dinero. ¿Pero qué pasa cuando hay un cambio en algo que ya debes o ganas? ¿Tendrás lo suficiente en ahorros para ajustar para la diferencia?

  • Una cuenta grande de impuestos. Es difícil saber cuánto debes en impuestos, pero si no ahorras dinero en avanzo, quizás no tendrás el efectivo necesario para pagarlo.
  • Se aumenta inesperadamente tu pago de préstamo. ¿Tienes un préstamo, como de hipoteca o de estudiante, que pagas regularmente? Si tu plan de devolución está basado en tu ingreso o en ratos de interés, podrías ver un aumento grande en tus pagos.
  • Ganas comisión en tu trabajo. Si tienes un trabajo en que ganas comisión, tus sueldos pueden variar mes a mes. Quizás no estás en la oficina por unas días o no vendes tanto como típicamente vendes. Si algo pasa y tu cheque de pago no está suficiente para tus cuentas mensuales, un préstamo rápido de efectivo podría ayudarte.
  • Una cuenta congelada o un línea de crédito reducido. Si no tienes los fondos necesarios en tu cuenta o si la coleccionista de deudas colecta una deuda vencida, tu banco puede congelar tu cuenta o reducir tu línea de crédito sin aviso.

Planear por estos eventos típicamente no es divertido. Pero si planeas con anticipación, puedes estar salvado de estrés y tener la paz financiera. Si todavía no estás allí, no te preocupes. Muchas personas tienen estas emergencias financieras sin mucho en las cuentas de ahorros. Obtiene un préstamo de efectivo rápido a través de Your Loan Depot en Texas, sobrevive tu emergencia, devuelve tu préstamo, y empiece a ahorrar para la próxima vez que venga un emergencia.

Mejore Su Crédito Para Obtener Préstamos Personales Rápidos

Usted necesita un préstamo personal urgentemente, pero hay solo un problema: su crédito no es estelar. ¿Qué debe hacer usted para mejorar su crédito? Aquí le damos algunos consejos.

¿Cómo Se Consigue Un Préstamo Personal?

Primero, figure cuánto dinero usted necesita. Después, mire a su calificación crediticia. Este es el número de tres dígitos por lo general entre 500 y 850. Lo más alto el número, lo mejor su crédito, y lo más bajo el número, lo peor que los acreedores consideran su crédito. Para conseguir un préstamo personal con términos buenos, como por ejemplo, una suma grande más un interés bajo, se necesita tener buen crédito con una calificación crediticia alta. Es preferible que este número sea más grande que 739; si es más bajo que 620, es posible que tendrá dificultades encontrar un préstamo con interés bajo y términos buenos.

Además, se necesita comparar diferentes préstamos para tratar de conseguir las mejores tasas de interés. Cuando usted encuentre lo que le guste, escoja un prestamista y aplique. Pero primero, trate de subir su calificación crediticia. Esto le ayudará mucho para obtener el préstamo que usted quiere sin tener que pagar demasiado interés.

Asegúrese De Que Sus Informes De Crédito Estén Correctos

Hay casos donde los informes de crédito tienen errores. Hasta solo una falta en sus informes puede bajar su número de crédito considerablemente. Es una buena idea verificar los informes hechos por Equifax, Experian, y TransUnion para asegurarse de que no hay ningunos errores en la información que los bancos y otros prestamistas miran sobre su crédito.

Cuando usted revise sus informes, asegúrese de que sus datos personales estén correctos. Después, fíjese que todas sus cuentas de crédito estén contabilizadas. También, mire si hay alguna cuenta o solicitud de crédito que usted no reconozca. Después de revisar todo, si usted encuentra errores, debe presentar una disputa por cada error que encuentre, a cada buró de crédito.

Por ejemplo, si encuentra que su domicilio está incorrecto en el informe de Equifax, y además encuentra que el informe de TransUnion muestra una cuenta de crédito que usted no tiene, debe presentar una disputa a Equifax con el domicilio correcto, y otra disputa a TransUnion por la cuenta que usted no reconozca.

No Aplique Demasiado Para Tarjetas de Crédito

Cada vez que usted aplica para una tarjeta de crédito, su calificación crediticia baja un poco. Es mejor aplicar solo para lo que usted de veramente quiere conseguir y lo que le servirá más. Aplicando demasiado bajará su puntaje, haciendo daño a su crédito. No aplique para todas las tarjetas que las tiendas le ofrecen.

Debe Pagar Sus Pagos Atrasados

Si tiene algunos pagos atrasados, arreglelos lo más pronto posible. Pague lo que debe en sus tarjetas de crédito y en sus préstamos. Los pagos delincuentes pueden aparecer en los informes de crédito hasta siete años a partir de la fecha del pago perdido o atrasado. Así que una de las mejores cosas que usted puede hacer para mejorar su crédito es pagar todo a tiempo.

Your Loan Depot comprende lo que se debe hacer para mejorar su crédito y obtener préstamos personales rápidos. Póngase en contacto con nosotros lo más pronto posible y le ayudaremos encontrar los préstamos más apropiados para usted, con los intereses más bajos.

Debunking 5 Title Loan Myths

If you’re in a situation that warrants applying for a title loan, then you should first educate yourself so you don’t end up in an even worse financial situation. There are many myths out there about auto title loans and how they work, but we’re here to debunk those myths and give you the truth. For title loans in Texas, we can help. If you have more questions after this blog post — about title loans or another type of loan — be sure to contact us. Otherwise, you can apply for a car title loan online with Your Loan Depot.

1. You’ll no longer have a car.

This is one of the more common myths out there, but it’s completely unfounded. Title loan companies don’t take your keys as soon as you finish your title loan application and receive your money — that’s simply just not how title loans work. Though you hand over your vehicle title, you’re still able to drive your car around to get to work or wherever else you need to.

You only risk having your car taken from you when you default on your title loan payments and lenders aren’t just waiting to take your car from you (but more on that later).

2. You need good credit.

If you have negative factors affecting your credit score, you’re not without hope. So many people have gone through negative financial situations in the past that have damaged their credit scores. You don’t have to let your past define you, though, when it comes to seeking help from a title loan company.  

As long as you have the money and resources to buy a car, truck, or RV, we can help you. This vehicle, after all, is your collateral for the loan amount. This means that we don’t even need to check your credit score, let alone require a good credit score. Instead, we evaluate the condition of your vehicle and its current value, and we review documents to ensure you are indeed the vehicle’s legal owner.

3. Lenders are trying to take your vehicle.

Many people believe lenders are preying off of your misfortune and want to keep your vehicle title and vehicle. Here at Your Loan Depot, though, we’re more interested in helping you get back on your feet financially after an emergency than we are with taking your car away from you.

Whether you visit our Rosenberg office, Corsicana office, Pearland office, or another one of our other Texas title loan companies, you’re in good hands. Our title loan service includes easy repayment plans so that you can establish how and when you’ll repay your title loan so you don’t lose your vehicle.

4. Interest rates are too high & you’re penalized for early payments.

There are definitely title loan companies out there that will charge excessive interest rates or penalize you when you try to pay early.

However, car title loans don’t necessarily carry as high of an interest rate as many consumers believe they do. Whenever you’re researching a loan that will work for your current financial needs, look into the title loan company and determine how much you’ll pay in interest. The interest rates will vary from company to company, so you can search around for one that best fits your needs.

You can also check to see if you’ll be penalized for paying your loan earlier than scheduled. Many title loan companies actually like when you repay your loan faster and are on top of your payments, but others will sometimes penalize you. Doing your research beforehand on different title loan applications can save you money and stress later on.

Here at Your Loan Depot, we’ll be forthright with you about your interest rates and payments. And remember — we help you establish an easy repayment plan so that you can go into the repayment process with all the knowledge, information, and resources you need.

5. You’ll never be able to repay your loan.   

This myth plays off of some of the insecurities, fears, and myths present throughout the entire auto title loans process. At Your Loan Depot, though, we want to fill you with optimism for your future and help you repay your title loan.

We offer a 30-day or term payback, and your loan can be up to $10,000 (based on your collateral). We specialize in personal relationships and truly want to help you succeed.

When you work with Your Loan Depot, you’re working with one of the most dependable, reliable loan companies in Stephenville, Tomball, Mansfield, and many other Texas locations. When you’re facing a financial emergency and find yourself asking “Are there title loans near me?”, we hope you’ll think of us. Contact Your Loan Depot for title loans in Texas today!

What Are the Factors Affecting Your Credit Score?

Needing a loan already means you’re in a tight financial situation, but when you have bad credit the situation can seem even more intense and restricting. At Your Loan Depot in Texas, we still approve loans for people with poor credit. If you need a bad credit loan, feel free to contact us to see what we can do.

Have you ever been curious about how your credit score is determined though? If you know exactly what’s contributing to your bad credit, then you can know what changes to make to improve it.

FICO® Scores are always determined and calculated by negative and positive information in your credit report. Most people know that a late payment will negatively impact their credit scores, but FICO actually outlines exactly what factors affect its calculations.

Payment History: 35 Percent

You guessed it: that late payment (or two or three…) carries a lot of weight with your credit score. Any lender you go to for a loan wants to see that you paid past bills and credits on time.

If you’ve messed up a lot of payment dates, though, the good news is that credit scores will notice if you establish or reestablish a good track record of making payments on time. So if the last time you missed a payment deadline was a year or two ago, FICO will notice and won’t damage your score as much as if you missed last month’s payment date.

Because of how much weight is given to your payment history, the best thing you can do to initially improve your credit score is make your payments on time — even if you’re just paying the minimum amount due.

Amounts Owed: 30 Percent

If you owe a lot on your credit card or previous loan, that doesn’t mean you’re automatically going to have a hard time getting a payday loan in Texas. However, if you’ve used a large percentage of your credit limit, it can indicate to your potential lender that you’re more likely than another person to make late payments or fail to pay altogether.

The total balance on your last statement is the amount that your credit report takes into consideration.

Length Of Credit History: 15 Percent

We see a big drop in the weight of this item and the previous factor. Different aspects will be considered with the length of your credit history:

  • How long you’ve had your credit accounts
    • The age of your oldest account
    • The age of your newest account
    • The average age of all of your accounts
  • How long you’ve had specific accounts
  • How long it has been since you used certain accounts

Longer credit histories generally improve your credit score because it shows your patterns, payments, and reliability over a longer amount of time. However, if your credit account is new but the rest of the factors are OK, then your credit report will most likely be fine.

Credit Mix: 10 Percent

How many different credit accounts do you have? Credit scores look into this. They’ll consider your credit cards, installment loans, mortgage loans, and even your retail accounts.

Having very few or very many credit accounts won’t be a huge determiner in your credit score, and you definitely don’t want to open credit accounts that you won’t use. This factor is generally of most use when there’s not much other information on which to base a score.

New Credit: 10 Percent

This factor is similar to the length of your credit history. If you open several new credit accounts in a short time, your credit score may be at risk (especially if you don’t have a long credit history from other credit accounts).

To protect yourself from this in the future, be careful with how many new accounts you have at once. You score won’t drop drastically if you apply for new credit, but it’s more likely to drop more if you open several new accounts rapidly.

These percentages aren’t quite as cut and dry as is listed here, but it’s a good starting area. A category’s importance can vary per person, especially if you don’t have a long credit history.

At Your Loan Depot, we offer some of the best loans for bad credit. If you find yourself asking “Where can I get a loan with bad credit?”, then we hope you’ll think of us. We offer title loans and payday loans to help you get back on your feet, and we’re in ten locations throughout Texas. Now that you know how credit scores are determined, you can better work to improve yours.

How Do Payday Loans Work?

When you’re stretching your money as much as possible but not quite making it to payday, it’s likely that you feel overwhelmed and stressed. Low finances and lack of savings create a lot of stress. When you fill out a payday loan application and are approved, however, you can avoid this stress and get yourself back on your feet. At Your Loan Depot in Texas, we offer payday loans to help you when you’re struggling with finances.

What is a payday loan?

A payday loan is a short-term cash loan that is based on either (1) the borrower’s personal check held for future deposit or (2) electronic access to the borrower’s bank account.

Let’s say you’re the borrower:

  1. You write a personal check for the amount borrowed from the loan company. This check will also cover a predetermined finance charge that the company requires.
  2. You receive cash.
  3. The loan company will hold the check until your next payday. At that point, the loan and finance charge must be paid at once.

It’s that easy! If you don’t have enough to pay the full amount when payday arrives, you can roll over the loan from your lender and pay an additional fee. Lenders now also will work with you for electronic access to your bank account if you receive direct deposit at your employment.

What are the requirements to get a payday loan?

Whether you’re getting a payday loan online or at a physical building, there are certain requirements you’ll have to meet. You’ll need the following:

  • An open back account in somewhat good standing
  • A steady source of income
  • A form of identification

You don’t need to have a full credit check performed or answer questions regarding your ability to repay the loan.

How do you pay it off?

Just like any loan, it’s best to pay off your payday loan as quickly as you can. If you’re in a situation that warrants a payday loan, then you likely just need some cash — not very much — quickly to get you to payday.

That being said, payment terms and options, along with different fees, will vary by state, product, and case. Make sure you understand all of your lender’s requirements before you commit to a loan. This could save you time, headaches, and, ultimately, a lot of money down the road.

Your Loan Depot

All payday loans will vary depending on where you are. With Your Loan Depot in Texas, payday loans are available up to $1,000. If you need more than $1,000, a title loan may be a good option for you. We pride ourselves on our personal relationships with all of our borrowers, and we hope to help you in your time of need. If something changes in your situation, every loan comes with a 72-hour cancellation period.

Whether you need a payday loan in Tomball, are looking for a trustworthy loan company in Houston, or are in another part of Texas, we hope you choose Your Loan Depot.

These Are The Most Common Financial Emergencies Americans Face

Unfortunately, life is full of uncomfortable — and often expensive — emergencies. Sure, planning for a rainy day is possible. But what about when the emergency hits and your savings account is depleted? Sometimes, you just need cash fast. If you’ve gone through or are going through any of the financial emergencies below, consider getting a fast cash loan through Your Loan Depot in Texas. We’re here to help you get back on your feet.

Medical Emergencies

Whether you have health insurance or not, medical emergencies are still expensive and can put a damper on both your savings and checking accounts. Additionally, there are some medical emergencies, like the family dog needing surgery, that are so far off our radar that we really don’t plan for them.

  • You or your loved one. Planning for a medical emergency doesn’t mean it’ll happen. It simply means you’ll have the money to deal with it if it does happen. Of course, you never know what the medical emergency will be, when it’ll happen, or how much it’ll cost. If you’ve been saving and something happens and you don’t have enough, a payday loan or title loan can help supplement the difference.
  • Your teeth. You take care of your teeth and go to the dentist for annual checkups, but what about when you need an expensive root canal or accidentally chip your tooth? This is an often-overlooked scenario that could be costly.
  • Your pet. Our pets are our family, right? But if a pet is injured or needs a surgery and your finances are tight, it can be an uncomfortable situation.

Changes In Jobs

If you or your spouse changes or loses a job, you’ll be dealing with a lot of emotions. If you’re getting your dream job across the country, you’re likely excited. If you lost your job or got laid off, you’re most likely feeling dejected. With both of these situations, however, there’s reason to be anxious about your finances.

  • You lost your job. Whether you had notice or were completely surprised with the change, this is a huge strain on finances. If you don’t have a job lined up immediately afterward and you don’t have much in savings, a payday loan or title loan can make all the difference.
  • Your spouse lost his or her job. When you and your partner decided to be together, you decided to help each other through the thick and the thin. If you’ve been living with two incomes and one is suddenly lost, the effects could be devastating. Hopefully, you were saving all or some of the second income in case of an emergency like this. If not, consider getting the cash you need through a payday or title loan company until you can start paying bills again.
  • You’re getting a new job. This could result in a sudden move across the country or simply across town. Either way, it could be expensive. Your new company will likely cover some expenses, but not all. You’ll also be taking time off of work to get everything done that you need to for the move, which means less time you’re working and earning money.

Unexpected Repairs

Part of the responsibility that comes with owning a home or a car is being able to pay for repairs. Unfortunately, not many of us plan for either of these situations. Whether an accident that was or wasn’t your fault, a natural disaster, or a crack in your foundation caused the need for repairs, your insurance most likely won’t cover the whole bill. Many Americans go into more debt because they don’t have enough money in their savings for unforeseen, but necessary, repairs.

Unexpected Travel

You don’t want to seem morbid, but you also need to be prepared for unexpected travel, which often occurs because of death. If your friend or family member is dying or you need to attend a funeral, it’ll be expensive. Flying is expensive even if you plan ahead! When you buy a plane ticket to visit your hospitalized family member, you’re likely not planning in advance. In a situation like this where you need cash fast, you could opt for a payday loan. Don’t let your finances keep you from being with your friends or family in a time of need.

Unexpected Financial Changes

Everything we’ve talked about thus far involves emergencies that will cost you money. But what about when there’s a change in something you already owe or earn? Will you have enough in savings to make up for it?

  • Large tax bill. You may not know how much you’ll owe in taxes, but not saving up for tax season could be detrimental. You’ll want to make sure you have enough to cover them.
  • Loan payment increases unexpectedly. Do you have a loan, such as a mortgage or a student loan, that you regularly make payments on? If your repayment plan is based on your income or on interest rates, you could see your payments increase significantly.
  • A commission-based job. If you have a commission-based job, then your paychecks will vary from month to month. Perhaps you’re out of the office for a few days or you don’t make as many sales as you typically do. If this happens and your paycheck doesn’t cover your monthly bills, a fast cash loan could help.
  • Frozen account or reduced credit line. If you don’t have sufficient funds in your account or if a debt collector collects on a past-due debt, your bank can freeze your account or reduce your credit line without warning.

Planning for any of these events isn’t necessarily fun. But by planning ahead and having money for a rainy day, you can save yourself a lot of stress and have financial peace. If you’re not quite there yet, don’t worry. Many people face these financial emergencies without much in their savings accounts. Get a fast cash loan through Your Loan Depot in Texas, get through the emergency, pay your loan back, and then start saving for the next time an emergency comes up.

¿Cómo funcionan los préstamos de títulos?

Cuando hay un accidente o cambio grande en tu vida y no tienes las finanzas requeridas, puedes sentir solo, ansioso, y desesperado. En Your Loan Depot en Texas, te ofrecemos préstamos por títulos de carros ya préstamos de día de pago para ayudarte a recuperar. No importa cual es la emergencia financiera, esperamos que podamos ayudar. Debido a nuestro blog, ya sabes los beneficios de usar un préstamo de día de pago durante las emergencias financieras. Porque hay mucha confusión acerca de los préstamos de títulos, hoy en nuestro blog vamos a explicar simplemente cual es un préstamo de título.

¿Cuál es un préstamo de título?

Con un préstamo de título, usas tu título vehicular como colateral para obtener un préstamo. Tienes que pagar una tarifa al prestamista. Tienes que ser dueño del vehículo y tener el título físico para hacerlo. Si fueras a obtener un préstamo de título, entregarías tu título vehicular (del coche, camión, o barco) temporalmente. Después de que has devolvido el préstamo, tendrás el título vehicular otra vez. Tendrás tu vehículo en tu posesión durante el tiempo en que estás pagando. Es importante saber eso, para que sepas que todavía puedes ir a tu trabajo y otras actividades, aunque tienes un préstamo con título de auto. Si no pagues tus abonos, el prestamista está permitido, legalmente, a recobrar el auto y venderlo para devolver la deuda.  

  • Cuánto dinero puedes obtener dependerá en la compañía de préstamo de título y cuánto vale tu auto.
  • Tipicamente, préstamos por título de carro son préstamos de corto plazo. Esto significa que tienes que devolver la deuda entre un mes y un año (depende de la compañía).
  • Generalmente, los préstamos por título de carro tienen tasas de interés más altos que otros opciones por crédito.
  • Las solicitudes de préstamo de título pueden ser rápidos — a veces a menos que 15 minutos — porque a veces los prestamistas no se verifican tu puntaje de crédito ni historia. El prestamista, muchas veces, se considerá la condición del auto y cuanto vale el auto.

¿Cómo puedes devolver la deuda?

Las condiciones de pago y las opciones pueden variar por estado, producto, y caso. Antes de que entregues el título de tu auto, asegúrese que estás cómodo con las regulaciones establecidas y que puedes devolver la deuda a tiempo. Te puedes acumular interés y otras tarifas si esperas mucho tiempo para devolverla. Al principio, es importante que entiendas que estás haciendo y que tengas un plan para pagarla. No quieres estar sin dinero y un auto después de un año con el préstamo.

Your Loan Depot

Cuando experimentas eventos inesperados o necesitas más efectivo por un evento especial, contáctenos. En todos nuestros ubicaciones en Texas, puedes pedir hasta $10,000 (dependiente en tu colateral).

  • Después de que has devolvido todo el préstamo, tendrás tu título auto otra vez.
  • Por 72 horas después de que has aceptado las condiciones, todavía puedes cancelarlo si decides que ya no quieres el préstamo de título de auto.
  • Es necesario que los vehículos funcionan para recibir dinero.
  • Nuestro contrato dice que tienes 30 días para devolver la deuda.
  • Todos préstamos están sujetos a aprobación, y todos los aplicantes no estarán aceptados.
  • Estamos autorizados por la Oficina de Comisionado de Crédito al Consumidor de Texas.

En Your Loan Depot, nos gustan las relaciones personalizadas. Cuando tienes un problema, esperamos que pienses en nosotros para prestamos de dia de pago y préstamos de títulos de auto. Somos una compañía de préstamo de título en que puedes confiar. Llámanos, envíanos un correo electrónico, o visita una ubicación cerca de ti para preguntarnos acerca de los préstamos de títulos y para solicitar uno. Elimina el estrés de tu vida y obtenga dinero ahora.

How Do Title Loans Work?

When you’re in a tight financial situation, it can be hard not to feel alone, anxious, and desperate. At Your Loan Depot in Texas, we’re here to provide you with car title loans and payday loans that can help you can get back on your feet. No matter the financial emergency you’re experiencing, we hope we can help. From our blog, you already know the benefits of using a payday loan in a financial emergency. Because there’s a lot of confusion about title loans, in our blog today we’re going to briefly and simply explain what a title loan is.

What is a title loan?

In a car title loan, you use your vehicle title as collateral in order to get the loan and you pay the lender a fee. You must own the vehicle and have its lien-free title in order to do so. If you were to get a title loan, you would temporarily surrender your vehicle title (this could be to your car, truck, or RV). Once you repay the loan, the vehicle title is returned to you. Your vehicle is never out of your possession. This is important to note, so that you know you can still get to work and other activities even though you used a car title loan. If you default on your payments, the lender is legally permitted to repossess the vehicle and sell it in order to repay the outstanding debt.

  • The amount of money you’re able to borrow will depend on the title loan company and what your vehicle is worth.
  • These are generally short-term loans, meaning that they’re scheduled to be repaid in less than one year and often as quickly as 30 days.
  • Auto title loans typically carry higher interest rates than other credit options.
  • Title loan applications can be quick — at times taking as few as 15 minutes — because lenders don’t always check your credit score or history and primarily considers the condition and value of the proposed vehicle.

How do you pay it off?

Payment terms and options will vary by state, product, and case. Before you hand over your title, make sure that you’re comfortable with the established regulations and that you’ll be able to pay it off on time. You can accrue interest and other fees the longer you wait to pay it off, so be aware of what you’re getting into from the start and make a plan of action. You don’t want to be out of cash and a vehicle a year from now.

Your Loan Depot

When you have unexpected events or need extra cash for a special event, don’t hesitate to work with us. At all of our locations throughout Texas, our title loan services will allow you to borrow up to $10,000 based on your collateral.

  • After you repay your loan in full, your vehicle title will be immediately returned to you.
  • We offer a 72-hour cancellation period if, for any reason, you decide the auto title loan isn’t for you.
  • We require vehicles to be in working condition before we agree to lend you money.
  • We offer a 30-day payback policy.
  • All loans are subject to approval and not all applicants will qualify.
  • We’re licensed by the Texas Office of Consumer Credit Commissioner.

At Your Loan Depot, we specialize in personal relationships. Whenever a need arises, we hope you’ll think of us for payday loans and car title loans. We aim to be a title loan company you can trust. Call, email, or visit any of our locations today to ask questions about and fill out a title loan application. Eliminate stress from your life and get cash now.