Those that are disabled can often find it tough to borrow cash. This can be for a multitude of different reasons. However, this doesn't mean disabled people in New Mexico do not have borrowing options available to them. There are several emergency loans for disabled people that may be accessible. Here are a few of those emergency loans you should check out.

When You Need An Emergency Loan

Emergency loans for disabled people are loans for people that need cash right away. This means to cover expenses that may not be able to wait until the next round of disability benefits or paycheck comes in. This can include, but certainly won't be limited to, the following:

• Important home repairs, especially if there is a plumbing or electrical issue.
• Medical costs, particularly in the case of medicine.
• Vehicle repair costs that hinder your ability to travel.
• Veterinary bills, especially when the animal is a service pet.
• Emergency home repairs for damage due to natural disasters.
• Unexpectedly large bills that are almost late.

Why Disabled People Find It Tough To Borrow Cash

There are a few reasons why access to cash could be potentially limited. For starters, many disabled people are either receiving disability benefits or working part-time. These forms of income may not be accepted by traditional banks when it comes to their loans.

This means people may need to look into alternative lenders, such as New Mexico Title Loans, Inc. for help with loans. In addition to this, having a limited income can make it difficult to pay off your necessary expenses. This could lead to having a poor credit history. Again, traditional lenders may not be able to help here. However, New Mexico Title Loans, Inc. may be able to do so.

Friends And Family Could Be Your First Option

If you do need to borrow cash quickly, then your friends and family members should always be your first option to turn to. Many will gladly help you out if they have the funds available. Your friends and family members will likely know how tricky it can be to deal with a limited income.

Many will be able to provide you with the cash that you need incredibly quickly. Of course, they will already have an idea about your situation too. Just make sure to pay them back promptly – which means as soon as you can – to maintain a positive relationship.

Use A Title Loan

If you hold a lien-free title to your vehicle, then a title loan could be an option. With New Mexico Title Loans, Inc., you can borrow between $300 and $10,000 when you use the vehicle’s title as collateral. The exact amount that you can borrow will be dependent on the value and condition of your vehicle.

The good thing about this auto title loan is there are no income requirements. This means that this is one of the few emergency loans for disabled people that are available to those receiving disability benefits or are currently unemployed.

Also, when you come to New Mexico Title Loans, Inc., all credit situations can be considered for a title loan. So, if you do not have the greatest credit history at the moment, it may still be worth inquiring. You may be accepted for the title loan. We also do not report to credit agencies, so your loan does not affect your credit history.

Use An Installment Loan

An installment loan is another loan we offer and is different from our title loans. The main difference is this loan is unsecured. This means you do not have to use anything as collateral for the loan. With New Mexico Title Loans, Inc., you may be able to borrow up to $1,250 with this New Mexico signature installment loan.

This loan will then be paid back in predetermined installments – hence the name. While you will need to have proof of income to receive an installment loan, it doesn't necessarily have to be a full-time income. Keep in mind that you will need to undergo a credit check to be approved for an installment loan.

 

 

Emergency Loans For Disabled People From New Mexico Title Loans, Inc.

Whether you are looking for a title loan or an installment loan, the team here at New Mexico Title Loans, Inc. tries to ensure that the inquiry process is as simple as possible. Inquiring about both types of loans will follow roughly the same process, albeit with a small difference or two along the way.

With both title loans and installment loans, you can receive the cash that you need as soon as the same day. The inquiry process can take as little as 30 minutes too, which makes them an option for those that need access to cash fast. Whether you are looking for a title loan or an installment loan, the process begins by filling in a quick form on this website.

The information on this form will be sent to your local New Mexico Title Loans, Inc. location. One of our team members will quickly review the information and give you a call. We will give you a bit more information about the loan that you are inquiring about. We will also let you know the documents that you need to show us.

If you are going for an installment loan, you will need to bring your driver’s license or state-issued photo ID, proof of income in the form of your most recent pay stub, and a checking account statement that is open and in your name.

Once you have the required items ready, you will be asked to come to your local New Mexico installment loan location. We will inspect your documents and check your credit. This shouldn’t take a long time at all. This means you will find out quickly if you qualify for approval.

If you are looking for a title loan, then you can both head to your local New Mexico Title Loans, Inc. location, or you can pick a location for us to meet you. If you are going for a title loan, you will need to bring your driver’s license or state-issued photo ID, your lien-free title, and your vehicle.

Whether you come to us or we come to you, you will need to bring your vehicle along for an inspection. This will allow us to determine how much cash we can lend you. We will also inspect your documents to determine if you qualify for approval.

Borrow Money Today With New Mexico Title Loans, Inc.

While emergency loans for disabled people are tricky to obtain, they aren't impossible. Some options welcome those receiving disability benefits or in part-time employment. New Mexico Title Loans, Inc. can provide both a title loan and installment loan. If you need to borrow cash soon, then get in touch and fill out the online form now.

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