Title Loans Glenview, Illinois
Money troubles can impact your life negatively, especially if you have no immediate solution. If you have family support, then that is great, but sometimes, it is not possible when your family members are also in financial trouble. Are your debts overwhelming you? Do you find it hard to stay on track financially due to an unexpected illness or death in the family? A title loan lender can get your finances back on track. It will only take either a phone call or online application to be on your way to a financial solution. However, you have to take the first step, which isn’t difficult whatsoever. If you want your financials to change, then it is going to be up to you to do something about it. The good news is that the title loan lender wants to help you.
The City of Glenview
The city of Glenview is located in Cook County within the state of Illinois, near the city of Evanston. It is considered a wealthy suburban community and an integral section of the North shore, which is also another wealthy area in suburban Chicago. 44,692 was the population in the year 2010 as indicate by the U.S. census department. Public education in this area is of the highest level. In fact, Glenbrook South High School was placed in number 19 position for being the best 2014 public high school within the entire United States. The school district in 2015 made the number 225 position on the list within the United States and number 2 within the state. Want to know more? Visit the city’s official website today.
Title Loan Laws
The Illinois Department of Financial and Professional Regulation is the government entity that oversees the title loan industry. According to the laws and regulation, it is mandatory for title loan lenders to provide the prospective borrowers with a brochure that explains the procedures that relate to Illinois title loans. The brochure should outline all specifics of the loan as well as the lending options available to the borrower. The interest rate is regulated as follows:
- Loan amounts cannot go over $4,000
- Payments that are more than fifty percent of the gross monthly income of the borrower are restricted
- Balloon payments are not permitted. Lenders have to fully amortize the loan, meaning borrower makes equal payments each month
The Title Loan
Your title loan approval will depend on a few factors. First, you have to own the vehicle that will be used as the collateral. If the vehicle was gifted to you, then you can have a transfer of title done at your local Department of Motor Vehicle. But the title has to be in your name. The process of applying for a title loan is easier than that of a traditional lender because the title loan lender does not check credit. So your bad credit will never be an issue.
The Required Documents
For an approval of your title loan, you also need to provide a proof of income to the lender along with a proof of your age. Every applicant has to be at least 18 years old or more. The lender accepts a driver’s license or valid ID card as proof of age. The lender accepts the different proof of income below:
- Tax return
- Retirement income
- Social security benefits
- Disability benefits
- Worker’s compensation
- Unemployment benefits
The application process is simple and only takes just a few minutes of your time. Your financial future depends on what you do next. Take the step today and fill out your loan application to get an instant title loan estimate.