It happens to even the most responsible people: you get behind on your payments, bills stack up on the kitchen counter, and you start getting unhappy calls from your various service providers. It’s stressful, and the longer it goes on, the more unlikely a happy outcome can seem. Not true. If you want to catch up on your overdue bills, pay off your balances, and get back on track, you might want to go for an online car title loan.
Using Title Loans to Pay Off Small Debts
The longer you put off paying those overdue bills, the higher the price will be and it becomes more likely that your credit score will take a serious hit. And if your bills go into collections, your problems might start to really stack up. So take our advice: take action now.
If you don’t have the funds in your bank account to safely pay off those little debts and overdue payments; take out a title loan. Rather than committing to a long-term loan, an auto title loan uses the equity that you already own as collateral to finance your bill payments. This allows even borrowers with bad credit scores to get instant approval, get cash in as little as 24 hours, and then pay off their loan the minute they have the money to do so (without fear of prepayment penalty fees).
Car title loans are a kind of quick in-and-out solution that’s ideal when you’re just trying to pay off that old gas bill, not put a down payment on a new house! They’re also a good simple solution for catching up on overdue bills because they offer cash so quickly and with so few approval requirements. Most auto title loan borrowers are approved instantly and receive the full value of the equity of their car in as little as one day’s time.
That means you can pay off your overdue balances faster, pay off the loan and get the title of your car returned to you, and start over again- clean slate.
Pay Off Old Bills, Get a Jump Start on Upcoming Payments
Ok, so now that you’ve found a safe solution to your stack of bills, what can you do to prevent overdue payments from happening again?
1. Pay your bills early, or on time.
Don’t get behind in the first place! If you have to make reminders for yourself, do it. By paying your bills on time, you build good credit. Never underestimate the power of a good credit score. Paying your bills early or on time will also save you a ton of stress.
2. Use automatic withdrawal responsibly
Consider automating your monthly payments so that you don’t get behind on bills, or set up a separate bank account to withdraw your bill payments from so that you don’t get caught by surprise when your cable bill payment goes through. Put aside the certain amount from each paycheck into your automatic bill payment accounts so you can easily and safely budget.
3. Get ahead of the game
Once you have the funds available with a car title loan, you can pay off your bills or rent for the next month or two. Either store that money away in your automatic withdrawal account, or pay the service provider directly. Your landlord would be super happy if you paid off your rent for the year, and then that’d be one less expense to worry about each month.
Financing your overdue payments with an online title loan is the smartest way to get caught up on overdue bills. From there, you can start fresh and keep up with your monthly expenses from here on out!