*Other documents may be required
04 May 2020 / 0 comments
Title Loan with No Proof of Income
Paul
We can help you learn how to get a title loan with no proof of income but still show the ability to repay the loan. We have assisted consumers to obtain title loans with no “traditional” proof of income since 1994. Over the years we have perfected our approval process to more easily accept those with a wide variance of steady income streams so no one in need is neglected.
The ability to repay the loan is a necessary part of the approval process for a title loan. Its purpose is to help the lender verify that the borrower can repay the title loan through regular monthly payments. Verifying this information is beneficial for both the lender to get you a nearby title loan and the consumer since the risk is exponentially increased for both if the ability to pay isn’t confirmed.
Many times, TFC Title Loans’ customers don’t realize that while they might not have a job, they still can get a loan with other forms of income. Unemployment, Social Security, worker’s compensation, alimony, annuity payments, and court settlements are all examples of how you can take out a title loan with no traditional proof of income.
With our passion for customer service that has lasted for the past 25 years, we make it our priority to make sure you fully understand the lending process. We have organized a full list of options for you if you need to get a title loan with no job. To learn more, see the information provided below. If you are ready to obtain the financial help you need, then give us a call or fill out our online application today.
*Other documents may be required
Unemployment income is a possible proof of income when applying for a title loan. This income can reach up to $450 a week and is distributed by state governments which are funded by both state and federal payroll taxes to workers who have become unemployed.
Annuity income is a smart retirement strategy that utilizes an insurance product to create a steady income throughout retirement. You don’t need to be working to have a steady income if you were financially savvy while still in the workforce.
Workers’ compensation is a form of insurance that covers the wages and medical coverage for employees. This is a perfectly valid proof of income when you are not currently working.
Settlements and court-ordered awards are financial resolutions in legal cases. Additionally, settlements and awards are usually distributed in either one large lump sum. Or otherwise – structured settlements that require regularly scheduled payments.
Inheritances can make a reasonable proof of income. Inheritance usually takes the form of either property or cash passed on to you.
Severance pay is a sum paid to an employee once they have been let go of the company. Depending on the policies, severance pay can be a substantial form of income that keeps you going for a while. Now you can see that we are not looking for a certain type of proof of income. Instead, we are looking for your ability to prove that you are receiving or depositing money into your bank account regularly.
If you have decided, after reading this article, that you are eligible for a title loan provided by TFC Title Loans then there are only a few simple steps you need to follow next. Contact us by calling our toll-free number at 844-242-3543 or fill out an online application located on this secure webpage. Shortly afterward, one of our helpful loan agents will contact you to walk you through each step of the process. Now you know when and how to get a title loan with no proof of income!
