How to Pay Off a Title Loan Early

A title loan is a nice way to access quick cash to solve some pressing problems. The loan is simple to process. It can take a couple of hours from application to the time you finally receive the loan. However, for some people, it is repaying the loan that is a bit problematic. Most time it may be because of other loans that the borrower has pending. This guide will help you find ways to pay off your car title loan in no time.

Tighten Up

The months in which you are required to repay your loan will need some tough budgeting if you are to pay off the loan early. It is likely to include some sacrifices in the area of expenses. Always make sure you understand ahead of time what your situation will look like under the terms of the title loan contract and prepare for it. Have it at the back of your mind that, it is temporary and will be paid off faster than a standard loan.

Talk to your lender

If you encounter any financial difficulty during the course of your repayment period, call your lender and speak with them. They will be glad to work with you to get the loan paid off as soon as possible because it will be in the best interest of everyone. 




Be honest with your lender because they are used to every possible situation and have equally dealt with all kinds of unexpected contingencies. (This only works with reputable lenders. If you’re dealing with a fox, don’t expect any help at all. Be wise and choose a high-rated lender from the start.

Consolidate

If you are certain, under your circumstances, you will not be able to pay off your car title loan within the required timeframe; you may consider consolidating your debt into one payment. Consolidation loans will pay for your title loan and allow you to keep your vehicle. These kinds of loans take much longer time to pay off and may come with additional interest fees, but it will help you not to default on your loan.

Do not take the full amount

It may look tempting to take the full amount on offer, but if you can, just take the amount you need, rather than the amount you would like to have. Taking a lesser amount will make the repayment process easier on your wallet.

Downgrade

If you cannot find any other means to pay off your car title loan, you may consider selling the vehicle. Selling the vehicle for the full market value would allow you pay off the loan and may as well leave you with some funds to buy a cheaper car. Do not get discouraged when this happens, the bottom line is your loan is paid off and you are free to save up to buy a better vehicle in the future.

4 Signs That You Need Professional Debt Help

Wipe our Debt (Photo credit: Images_of_Money)

When you are struggling with your finances, it can be hard to know the right time to get help. Debt is not just a financial issue, it is one which can affect your entire life. Feelings of frustration and helplessness are commonly associated with debt, and can be overwhelming if you don’t start to seek external assistance. 

 Here are 4 common signs that suggest you need to get some professional debt help.

Struggling to Meet Deadlines

You know when your bills are due and when your loan repayments need to be made, yet you still feel like there just isn’t enough time to get the money together. If this is the case, and you find yourself struggling to meet your financial deadlines, it’s time to get some help. Having difficulty paying your bills is one of the first signs that your finances need attention, so it’s best to address the problem now before it becomes anything more serious.

Missing Repayments

The next step is when you simply don’t have the money on the due date, and find yourself missing repayments or becoming overdue on your bills. This is a dangerous practice, as you can be doing serious damage to your credit rating. A bad credit rating can take years of hard work and dedication to undo, so it’s essential to take action as soon as you can. A professional debt help provider such as Fox Symes will not only help you to sort out your finances, they will alleviate the pressure by negotiating better terms with your creditors to help you get back on track with repayments.

Relying on Credit for Assistance

Using your credit card to bail you out of a difficult financial situation is definitely a danger sign that your debt could be spiralling out of control. Credit card debt can really sneak up on you and quickly lead to seemingly insurmountable financial difficulty. If you have to use your credit card to buy groceries or other everyday necessities, it signifies that your current budget is not coping with your expenses, and that you need to get some help.

Your Budget Doesn’t Add Up

When you evaluate your budget, you should have enough for all of your expected expenses, bills and repayments. If you have calculated your budget and found that you are running at a loss, you should seek professional financial advice immediately. It is only a matter of time before your savings run out and you are left with debts that you simply cannot pay.

Professional help is a great way to get back on track and in control of your finances, even if you aren’t experiencing any of these tell-tale signs. It is never too early to seek help, and in fact the sooner you get help the better chance you have of success. A professional debt solutions agency such as Fox Symes can give you the strategies you need to beat debt for good. As a leading Australian firm specialising in debt reduction, their expertise and professionalism is assured. You can read a review of their services by clicking here. Don’t let debt dictate your life, be proactive and seek out expert help today!