September 19, 2017
Do you diligently pay toward your student loans, mortgage, credit cards, and other bills every month while feeling like the overall outstanding balance barely budges? There is a good reason for that. Every debt you owe also accrues interest, and if you are spreading your wallet out among several payments that just barely meet the minimum, the interest still continues to bump all of those balances up.
A great way to get over that hump is with bills consolidation. By taking out one big loan to pay off all of what is owed to the various lending institutions, you can start repaying that loan (and all your debts) in a single monthly payment. This is especially handy for when you have several major loans, like school loans, that you continue to chip away at without being able to fully pay them off. You also get a better interest rate that helps with savings down the road.
Even if you are now paying your bills down in one monthly chunk, the path to becoming completely debt-free can still be a long one. It especially feels like this when you start to see the light at the end of the tunnel. That is when those last few thousand dollars seem to have slowed the repayment schedule down. It can also feel like this with just regular credit card debt, or when that entertainment system you financed with zero interest a year back finally comes due with deferred interest doubling the amount owed. All of these things can make you feel like the hole is growing deeper every time you try to dig yourself out.
There is no need to despair! Just as bills consolidation is an excellent fix for handling large debt, title loans are wonderful for quashing smaller (but still significant) debts. A quick Google search for “title loan near me” shows that a car title loan is an easy way to get quick cash in Memphis. All you need is your drivable vehicle, its lien-free title, and a photo ID. Your vehicle’s value is leveraged against the loan. With Mid-South Title Loans, that amount ranges from $150-$2500 in the greater Memphis area. There are no credit checks or waiting periods—in fact, you’ll get approval within 20 minutes!
While of course a title loan is still a loan, it is a fast and efficient way to knock out lingering small debt. Whether you’re making the last few payments toward a bills consolidation, dealing with a maxed-out credit card, or avoiding deferred interest on a financed item, a title loan can easily cover these remaining payments. Moreover, not only can it end the repayment cycle with accruing interest, but it can also improve your debt-to-credit ratio and credit score.
If you have an immediate need to rid yourself of debt, consider seeking help from a Memphis title loan company near you such as Mid-South Title Loans. The process is fast, easy, and hassle-free, so stop by any of our three convenient Mid-South Title Loans locations in Memphis today and be back on the road and ever closer to becoming debt free within minutes!