23 Dec 2016   /   0 comments

I Can’t Pay My Title Loan

Paul

Over the years, we have witnessed clients come to us in distress saying “I can’t pay my title loan!”. If you have come across this page with that fear, we have good news for you. We can help! You are not alone in your worries and we can ease them by helping you navigate this tumultuous time. We, at TFC Title Loans, have been helping clients in the Arizona, California, and New Mexico regions with their car title loans since 1994; making us the oldest car title loan lender in California. This experience has afforded us the ability to perfect the lending and repayment process so we can help those struggling to make payments on time.

Here, at TFC Title Loans, we believe that we carry a responsibility, not only to our current clients, but to all of our past, present, or potential clients. A responsibility that demands we help them through the entire loan process from beginning to end by giving them strategies, helpful tools, and alternative options when they are struggling to pay down their loan. Over the past 25 years, we have been able to gain the knowledge necessary to help all individuals who struggle to pay off their loan. Are you currently struggling? Well, we are here to help you through it. In this informational resource page, we will lay out the options and/or steps you must take when you realize you are struggling to make payments.

With our second-to-none customer service and lender transparency, we have drawn thousands upon thousands of customers to our site and our lending services. Consumer education is a high priority of ours which is why we seek to help in any way we can if you are struggling through the process. To learn more, please continue reading. If you feel, however, that you would like to refinance your title loan that you are having trouble paying with us to get lower monthly payments, then fill out our online application or give us a call today!

I can't pay my title loan

Stop and Take a Breath

First of all, take a breath. Everything will turn out. You have come to the right place for help and no matter how dire the situation might seem, if you take certain steps it can be improved. Worry has been proven to paralyze people, causing them to not take any action. The first thing you need to fix is your attitude towards your ability to tackle debt, whatever type of debt that might be. You CAN do it.

 

Contact Your Lender to Discuss Your Struggles

Secondly, contact your current lender. That may be us or someone else but, either way, contact them and tell them that you are worried about making the payments. Many lending companies, who have a similar philosophy to ours, will work with you to find viable options to make the financial burden easier on you. At TFC Title Loans, we focus on staying flexible so that we build trust with our clients and an open line of communication. Several things can be done to improve your situation such as extending the repayment schedule or altering the monthly payments.

 

Budget, Budget, Budget

Here are a few of the things you can do to use your money wisely so you can make the monthly payments more easily. Or better than that pay more than the monthly payment to avoid interest.

  • Create a budget: you can do this by making your own Excel spreadsheet, writing it out by hand, or using personal finance tools like Mint.com. Knowing where your money is going can help you figure out what are necessities and what aren’t.
  • Prioritize debts: you might have other debts that you need to pay off other than your title loan. Organize these by APRs so you can pay off the highest interest ones first. If your credit card has a lower interest rates than your title loan, then resolve to pay only the minimum for your credit card and use that extra money to pay more on your title loan.
  • Pay more than the minimum: if you can save money by creating a budget and prioritizing your debts then put the rest of that towards paying more than the minimum amount then you won’t have to pay the monthly payments as long as scheduled.
  • Stop accumulating other debt while repaying your title loan. By doing this, you will prevent the amount you need to pay against debt from increasing; therefore, keeping the monthly payments manageable.
  • Whenever you get a work bonus, put it towards your debt. You may be tempted to “treat yourself” but eventually, you will be much happier with the peace of mind that comes with making that last payment on a loan.
  • Try selling possessions you don’t use or need anymore. That could give you a big chunk of cash that could help significantly with monthly payments.
  • Analyze and change your spending habits. Saving five dollars a day on that fancy latte at Starbucks can equal 35 dollars a week and over 100 dollars a month. You can do that just by making your coffee at home!

 

Refinance with Us

If your current lender is unhelpful and not flexible with your monthly payments, then you ought to consider refinancing your title loan with us at TFC Title Loans. We can take care of the remaining balance of your old loan and give you loan terms that are unique to your specific circumstances. We can help you through the process with excellent customer support so you don’t feel as alone. We can see you through to the completion of the life of the loan and onto a brighter financial future for you and your family.
Now that you have a better grip on what actions need to be taken when you feel you can’t pay off your title loan, you can feel free to give us a call with any remaining questions you may have. We have customer representatives waiting by the phones who would be happy to answer all of your queries. If you are interested in working with us or refinancing your current title loan, then give us a call today or fill out our simple online application.

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