Found yourself in need of money in a hurry At Lone Star Cash Services, we can help with a speedy and free loan quote. With just a little information, you can have a quote in front of you in a matter of minutes. The site is secure and the process is easy, so why not get started right away?
Your Options in Corsicana
You have a lot of options in Corsicana but not all of them are good ones. When most people think about bad credit and cash loans, a payday loan is the first thing that pops up in their mind. That is not the only choice in most cases and it certainly is not the best one.
There are a lot of negatives to a payday loan which is why it should be the last option you choose.
Many will site the loan fees as being the biggest negative. Sure, when you calculate the fees into an APR, it ends up at 500% or more most of the time. That is a problem but if you need money in a hurry borrowing $100 and paying back $120 is probably not that much of a deal breaker. The real problem is the loan term.
Loans are meant to be repaid on the borrowers next payday and that is where the real trouble lies. For someone who is already probably living paycheck to paycheck, how can they afford to pay back 400 or $500 or even more in one check. Most can’t. This leads to many individuals having to roll their loan over.
When they roll over or extend a loan, they pay the fees from the first loan and add an entire new set of fees again. The result is that they are in the same boat they already were in with no improvement in finances. It can be a tough trap to get out of.
Installment loans, even with bad credit, could be a better answer for you.
The main reason to consider one to address your money needs in Corsicana is for the lower payment. Because the loan would be split into multiple payments, they would each be lower. This can make it fit easier into an already strapped budget. As an example, you might not be able to pay off a 1000 dollar loan in one lump sum, but you might be able to pay it off over the course of a year.
Another reason that an install loan might be the best fit is because of the higher dollar amounts available. Payday loans are generally limited to around $1000 both by state laws and the inability of the borrower to pay more than that off in one payment.
Installment loans can be taken for as much as $50,000. Of course, you should just take what you need to handle your emergency, even if you qualify for more. The more money that you take, the more that you have to pay back with fees and interest.
Another option that you might be considering is the title loan. With this type of loan, you put up your clean title in exchange for a cash loan.
The only good thing about this type of loan is the fact that it is easy to qualify for. It is secured with your title so the lender has little to risk.
The bad thing about a title loan is that it still has high fees and interest and you stand to lose your vehicle. If you do not pay on time, they can and will come to take it.
This is the riskiest of loans and you really should avoid it, especially if you can not afford to lose your transportation.
Your Loan Decision
As you have probably determined by now, installment loans are probably going to be your best option. You may be able to get more money and the individual payment may be more manageable
Payday loans as well have their place and can handle your troubles in Corsicana. They are best used for amounts of under $300 or so but can be used for money needs up to $1000.
Luckily, we make it easy for you to get a quote from a lender for a loan. Just fill out a simple and short loan form and in minutes you will have an answer. There is no obligation and no cost to you to get a loan quote in Corsicana. Get started now.
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- Staff Summary
If you are looking to borrow money for a surprise expense, the first thing that you probably think about is a payday loan. This may not be the best choice though, even with bad credit, you might have other options. This article can help you with your choices in Corsicana. Learn about payday loans, title loans and even installment loans. Know your options before you proceed.