loans for disabled people with bad credit

Simple And Quick Loans For Disabled Persons With Bad Credit

Many disabled people find it difficult to qualify for loans for disabled persons with bad credit. In fact, many traditional lenders will instantly turn away anybody claiming disability benefits or with bad credit. However, we can assure you that loans for disabled persons with bad credit do exist. They aren't too tricky to find either. On this page, we are going to tell you about two of the most popular options.

Why Is It Difficult To Obtain A Loan If You Are A Disabled Person?

The problem is two-fold. Firstly, many disabled people are not able to work full-time. This can result in sporadic or part-time income. In other cases, they may be solely claiming disability benefits. Traditional lenders aren't fans of this. They want a record of solid employment history. They want evidence that you are just going to stop receiving your income. After all, if you don't get paid, they don't get paid.

Secondly, when your income can be sporadic, it can often result in missed payments or over-extension of credit. This results in a poorer credit score. As you likely know, banks really do not want to lend to people with poor credit scores. Don't fret, though. If you are disabled, you aren't completely out of options for borrowing.

Types Of Quick Loans For Disabled Persons With Bad Credit

Payday Loan

If you are in employment (part-time or full-time) or receive alternative means of income (disability benefits from social security, unemployment benefits, etc.), then one of the most popular borrowing options will be a payday loan. With Alabama Title Loans, Inc., you may be able to borrow between $100 and $500, depending on your personal circumstances.

As the name suggests, with a payday loan, you will be paying back the cash that you have borrowed when your next payday rolls around. For this reason, many people see a payday loan as a way to cover short-term expenses. Perhaps to help cover a repair or emergency expense in the final days of the month i.e. when most people's bank accounts are sitting on empty, waiting to be refilled by their employer.

A payday loan (also known as a cash advance loan) doesn’t need a big list of qualifying materials. However, you will need to have the following ones:

  • Social security card
  • Government-issued photo ID
  • Bank statement from your checking account
  • The most recent paystub
  • A blank check from an active checking account

A payday loan can be quick to obtain, with the inquiry process taking under 30-minutes. Loans are often funded within one working day.

applying for payday loans online

Title Pawn

A title pawn might be a possible option for the people with disabilities who own cars outright. It often covers longer-term and higher borrowing. With Alabama Title Loans, Inc., this could potentially mean receiving between $300-$15,000. When you receive a title pawn, it will be against the value of your vehicle. Your vehicle will need to be inspected in order to determine how much cash is available to you. You will need to hold a lien-free title to receive a title pawn.

Unlike a payday loan, you do not have to provide any information about your income when applying for a title loan. This means that they could be an option for those that may be temporarily unemployed or receiving disability benefits. You will need the following, though:

  • Driver's licensed or state-issued ID
  • Lien-free title to your vehicle
  • Your vehicle for inspection

You will not lose access to your vehicle for the duration of the title pawn. This method is almost as fast as a payday loan. The inquiry process can be completed in under an hour, with most title pawns funded within one working day.

Bad Credit? Alabama Title Loans, Inc. Could Be An Option

If you have bad credit and are on disability, then either an Alabama title pawn or a payday loan could be an option. Alabama Title Loans, Inc. provides both. We have tried to ensure that the process of inquiring about either of these options is as streamlined as possible. In fact, both title pawns and payday loans will follow roughly the same process.

Inquiring About Borrowing

The first step is to let us know that you are interested in either a title pawn or a payday loan. You can do this by filling in the quick form on our site or picking the phone up and giving us a call. In both cases, your information will be processed by your closest Alabama Title Loans, Inc. location.

Speaking To Us On The Phone

If you have filled in the form online, then we will give you a call. At this point, you can ask any questions that concern you and find out everything you need to know about how the process works for disabled individuals.

Meeting Us In Person

One of the biggest advantages of title pawns when you choose to work with Alabama Title Loans, Inc., is that we can come to you. This may mean a lot for disabled individuals who may experience difficulties while transferring their personal disability equipment or those who have trouble moving around. One of our representatives will travel to your location to deliver the loan documents and have you sign some forms, thus, letting you go through the process with maximal comfort.

If you choose to get a payday loan, you will likely need to visit the nearest location and have the agent review your papers to determine how much you qualify for.

disabled person meeting with a title pawn representative

Receiving Your Funds

Once you have signed all relevant forms, we will start the process of sending you your funds. Depending on when you signed your documents, it could either be the same day or the next working day.

Need Emergency Cash? Reach Out Today

Are you looking for loans for disabled persons with bad credit? We know that they can be tricky to find. However, there are options. Reach out to Alabama Title Loans, Inc. today and ask us about our title pawns and payday loans. We may be able to help.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.


Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.