You Don’t Need and Auto-Title Loan to Save Your Car

Many Floridians who are struggling to pay their pills consider getting auto-title loans.

These loans usually come due in thirty days and can have interest rates as much as 500%! Many title loans have what’s called a roll over option. That allows you to extend the term of the loan for another thirty days. If you fail to repay the loan in thirty days because your financial situation hasn’t improved, it might be tempting to exercise the roll over option. But, if you don’t pay that loan off at the end of the first thirty day loan, any future Auto Title Loan Bankruptcypayments you make only go to interest!

You keep on making interest payments until you pay that loan off in full and that can be forever.

If you fail to repay the auto-title loan, the lender can repossess your car.

But it gets work! They can sell the car to recover the amount of the loan, plus any interest on the loan fees.

What’s worse, if they sell your car for more than what’s owed, they don’t have to give you the difference!

Having to get an auto title loan is just one of many signs that you are having significant financial problems.

It is time for you to consider your options, including filing for bankruptcy. If not, your financial situation will get worse, not better!

For more information the financial fresh start that bankruptcy may provide to you, you can order a free copy of The Essential Guide to Bankruptcy

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