In a title loan, borrowers pledge their vehicle’s title as collateral to obtain short-term cash. In exchange, they typically pay a high interest rate. Often, they must also sign a contract that allows the lender to repossess and sell the car if they fail to make payments on time. Consumer advocates say that these loans put people at risk of losing their cars and can be dangerous. The industry says it provides a necessary financial service to people who may not have access to other sources of credit.Source:birminghamtitleloanpro.com/

For those who need to take out a title loan, experts recommend looking into alternatives before signing on the dotted line. The National Credit Union Administration suggests seeking assistance from a family member or employer, finding out about emergency aid programs in your community, or asking your creditors for more time on debts. The Georgia Attorney General’s office recommends trying to work with your lender to refinance or extend the terms of your loan. A bankruptcy lawyer in Atlanta estimates that her clients struggling with title lenders account for a third of all her cases.

Accessing Quick Cash: Title Loans in Birmingham, AL

Get the quick and easy cash you need with a title pawn from Always Money. Our Birmingham location offers fast approvals, great rates and the flexibility to keep your car. Just bring your vehicle, photo ID and a clear vehicle title. We can even provide funds through a MoneyGram at many locations throughout the city. Contact us today to learn more about how a title loan from Always Money can help you.