September 26, 2017
It always happens when you aren’t paying attention. It’s when you have a million errands to run, people coming into town, or just several bills due all at once. You write checks, visit ATMS, and swipe your debit card countless times. Once you’ve taken care of it all and start patting yourself on the back for adulting so well, however, the bank notices come. You have an overdraft fee, and another, and another….
Almost every transaction you’ve made that day comes with a fee, and it does add up fast! On average, the nation’s larger banks change $35 to $38 for each transaction that overdraws your account. These fees are accrued for all kinds of transactions, be they paper or electronic checks, auto-bill payments, ATM withdrawals, and debit card purchases.
Those last two are the worst in terms racking up fees, and 83 percent of US major banks permit ATM and debit transactional overdrafts. It can also be compounded if your account is shared with your spouse. With two people withdrawing funds, overdraft fees could double. The crisis can get even worse as some banks institute a repayment deadline—a window of anywhere between a few days to a month—and if you can’t make it, you incur an additional “extended overdraft fee” that, on average, adds another $69 to the bill.
It’s a terrible Catch-22 because if there wasn’t enough money in the bank to cover your expenses, how can you be expected to cover the overdraft fees? In some instances, we are talking hundreds of dollars in the red. While you try to figure that out, you still have your day-to-day needs like gas, groceries, and prescription refills that could potentially expose you to even more fees until you can pay it all off. But if you are in between paydays, where will the money come from?
One resource could be with a bad credit title loan in Memphis. Not only is it fast and easy, but you can have the needed cash in hand within 20 minutes or less. The way a title loans works is that you leverage the value of your owned vehicle against the amount loaned. A bad credit title loan in Memphis from Mid-South Title Loans ranges from $150 to $2,500. All you need to qualify is your vehicle, its lien-free title, and a photo ID. Just bring these items by one of our three offices, and after we assess your car’s value while you do some speedy paperwork, you get to leave not only with cash in hand, but also with your car keys.
Don’t let overdraft fees threaten the balance of your budget. Grab your lien-free title and come on by Mid-South Title Loans! We have three convenient locations throughout the Memphis metro to serve you: 1680 Winchester Rd, 4965 Summer Ave, and 2798 S. Perkins Rd. If you’re searching for a bad credit title loan in Memphis, all you have to do is fill out our convenient Title Loans Online Info Sheet, or stop by any of our three Mid-South Title Loans locations in Memphis and see us today.