Learn More About Disability Loans With Bad Credit
At a glance, qualifying for disability loans with bad credit may seem impossible. However, it is actually possible to get cash even if your credit score is low. You just need to know where to look and what tips to follow, and that’s why we’re here. In this post, you will find useful advice for people on disability with bad credit that will help you learn how to get cash on short notice and what loan types are available to you. Scroll down to learn more.
What Is A Disability Loan?
A disability loan is a type of personal loan. The purpose of a disability loan is to provide you with a short-term financial tool while the Social Security Administration is processing your disability application. It allows you to have extra money for everyday expenses, such as your bills, mortgage, or groceries, whenever you are unable to work.
With this in mind, a disability loan is a way to hold you over until you get your disability benefits. It’s imperative to note that a disability loan is not a replacement for your disability benefits. It just helps you out in the meantime.
Tips For Getting Disability Loans With Bad Credit
Getting disability loans with bad credit is not that hard if you know what to do, and the tips below will help you with that.
1. Check Out Emergency Advance Payments
Before you even apply for a disability loan, check out emergency advanced payments. The Social Security Administration sometimes offers advanced payments for individuals with severe conditions. These emergency advanced payments can help fund you for up to six months while the application is being processed and approved.
Emergency advance payments are slightly different from disability loans. For the disability loans, you must pay back a loan amount plus interest. With an emergency advance payment, you don’t have to pay it back unless overpayment was an issue. There are no interest rates at all either.
2. Ask For As Little As Possible
When you have bad credit, you want to ask for as little money as possible while still holding you over. The more you ask for, the more difficult it will be to be approved for disability loans with bad credit. So, figure out realistically how much you need and don’t ask for anything more.
3. Know Where To Look
Knowing where to look is the main battle when applying for disability loans with bad credit. Certain lenders will not be in favor of approving you because of your credit, whereas others are more lenient. The loan types offered will largely determine if you can get approved.
Car Title Loans For People On Disability With Bad Credit
There are a few personal loans you can consider if you are on disability and have bad credit. You specifically want to look for personal loans that are secured with a form of collateral. When there’s collateral, your bad credit score is not that big of a factor.
Car title loans are one type of personal loan suitable for individuals on disability with bad credit. All credit types are welcome to apply, including those with bad credit and no credit at all. You will only need a driver’s license, a lien-free title to your vehicle, and your vehicle for inspection to apply.
If approved, you can get up to $1,400 Louisiana title loan with Cash Cow, though the exact amount you are loaned depends on your vehicle’s value. The application process is easy, and the in-person process can take as little as 30 minutes to complete.
How To Apply
If you are interested in applying for a car title loan online, head over to our home page and fill out the inquiry form. As soon as you click submit, the form will be sent to the closest storefront location so that a representative can give you a call.
During this phone call, the representative will set up an appointment so that you can apply for this loan type and have your vehicle evaluated. This is also a great opportunity to ask any questions you may have about title loans or the process.
At the time of the appointment, bring your required items and sit down with a representative. If approved, you can get your title loan money as soon as the same day you are approved or the next.
Apply For A Car Title Loan Online Today!
Disability loans help individuals who have recently applied for disability have financial assistance while the application is being processed. When applying for disability loans with bad credit, the process can be difficult, but it is possible with the tips above. If you decide to get a car title loan online, get started now by filling out the Cash Cow inquiry form.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.