Dealing with a financial crisis is something that most, if not all of us go through at some point in our life. But while misery loves company, the fact is that financial insecurity can be extremely overwhelming. Are you facing an undesirable financial situation? If you are, you're not alone, and as stressful as your situation may be, it's important to keep in mind that there's always light at the end of the tunnel. Given the right resources and guidance, you can get back on your feet and work your way back towards financial stability.

Governments and organizations offer many types of financial assistance to individuals and families in need of financial relief. Here is a list of 5 types of assistance to look out for when dealing with a financial crisis including car title loans.

1. Food Assistance

If you're struggling to afford food, you can get help from your local food bank. Food banks are non-profit organizations that serve meals to people struggling to afford food. Some foodbanks also donate household items and appliances and can guide you in accessing other types of financial assistance.

Some governments also offer programs that supply food to those in need, so make sure to find out what your government offers and what you may be eligible for.

2. Housing Benefits

Federal government programs also help low-income individuals with paying rent. These benefits are often in the form of subsidized or public housing. In the case of a home disaster, you can also get help with finding a new home and finding short-term shelter in the meantime.

3. Assistance With Home Bills

Another type of financial assistance to look out for is help with paying your home bills. Governments, non-profit organizations, and agencies offer programs focused on providing financial assistance in paying energy and utility bills, such as cooling and heating, as well as home improvements to prevent potential energy issues.

4. Assistance With Medical Bills

If you're dealing with high medical bills that are worsening your financial situation, you can get help. Local governments offer various programs that aid with health insurance and medical bills. In addition, some programs offer guidance on choosing a healthcare provider, as well as preventing future illness.

Moreover, health centers, government programs, and service agencies can also help ease the burden of prescription medicine costs. You can get help with finding lower-priced options, discounts, and/or samples.

5. Title Loans

A popular option for people looking for emergency financial relief is taking out a title loan. Title loans are short-term, secured loans in which the borrower uses their car title as collateral in exchange for a loan amount. They're an option with several advantages.

Benefits of Title Loans

Taking out a title loan is a fast and easy process. Unlike conventional loans, title loans only have a few requirements. All you need to be eligible for a title loan is to be above 18 years old, have a car, a government-issued ID, and a blank check to your bank account ready. We’re not worried about borrowers' credit histories, so regardless of whether you've got good or bad credit (or no credit at all), you'll still be eligible for a title loan.

While conventional loans typically take time to get approved, with a title loan you can apply for a loan and get it approved within the same hour and receive your money on the same day. Moreover, many title lenders offer online applications, which cuts down the processing time significantly. The best part about taking out a title loan is that you don't actually surrender your car. All you'll surrender is your car title, which means that you can continue to drive your car!

 

 

 

The Simple Process of Taking Out A Title Loan

Taking out a car title loan is a quick and easy process. Here’s what it looks like:

• You fill out a quick online form and submit it, which will allow a representative to contact you.
• The representative will walk you through the next steps for your application and schedule a meeting during which you’ll be asked to provide a few pieces of information, which includes:
  • Your driver’s license
  • Your vehicle title
  • A blank check to your bank account
  • Your car for inspection
• You’ll find out how much you’ll receive for your loan with a maximum being $10,000.
• Once you’re approved, the money will be deposited directly into your bank account for you to use as you see fit.

When it comes to preparing for an emergency, it’s important to know your options. So, take notes and make sure you’re taken care of but always know that title loans, New Mexico will always be here for you.

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