Category Archives: Loans

Student Loans

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A higher education is expensive today and many families are experiencing financial problems with the downturn in the economy. This means that more students need to borrow more money than they have had to before.

So what’s out there, when it comes to loans, for a student who is on his or her way to college?

First, there are Federal student loans. To apply for any Federal student loan, and for many private loans from colleges and universities as well, a student, or the student’s parents, will have to fill out a FAFSA or a Free Application for Federal Student Aid. This is a lengthy process and the student, if he’s independent, or the student’s parents, will have to have up-to-date tax information before filling out the form.

Once the FAFSA is filled out a student will find out if he or she is eligible for Federal Student loans. Federal student loans are the most desirable loans available.

The interest rates on Federal Student loans are usually low and the student has a long period in which to pay back the borrowed money.

The best of Federal loans are subsidized federal loans – Subsidized Stafford Loans and Federal Perkins loans.

Subsidized Stafford Loans:

Are available to students who demonstrate financial need.

Are interest free until ten months after the student graduates, leaves school, or becomes less than a half-time student.

 

Federal Perkins Loans:

Are even better than Subsidized Stafford Loans and go to students who have the greatest financial need.

Have an interest rate of 5%.

Do not need to be paid back for ten years after graduation.

Can be partially cancelled if the student decides to teach in a low income area or is a teacher of subjects that have a low number of teachers – like math or science.

The Federal government also offers unsubsidized loans – Unsubsidized Stafford Loans and PLUS Loans.

Unsubsidized Stafford Loans:

Are not based on financial need.

Are available to any U.S. citizen who is free of drug felony charges.

PLUS Loans:

Are loans for parents of college students.

Parents must have good credit and proof of income.

There are private loans as well. They are available from banks and other lending institutions.

When applying for private student loans , look for low interest rates and low fees or no fees.

When thinking about loans – whether funded by the Federal government or private lending institutions – the place to start is at your college’s financial aid office.

 

Title Loan

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Title Loan: A car title loan, or simply title loan, is a loan where the borrower provides their car title as collateral for a loan.

GET THE CASH YOU NEED AND KEEP YOUR CAR!

At UTAH MONEY STORE you can borrow the cash you need and keep your car. Your car’s title is the only collateral, not your vehicle. With UTAH MONEY STORE’s affordable Car Title Loans, YOU choose your payment plan. Your payments can include Principal and Interest so you will know exactly how long you will have the loan,

* Bad Credit – No problem
* Lost title – No problem
* Payment options – Interest Only or Principal and Interest payments.
* We will beat ANY competitors interest rates GUARANTEED.
* Free GIFT ($ 1,000 or more 1st time loan and 60 day term.)

BAD CREDIT IS OKAY

You can borrow money at UTAH MONEY STORE even if you have bad crediteven a prior bankruptcy.

ATV’s, MOTORCYCLES, & TRAILERS

We also provide ATV loans, motorcycle loans, recreational vehicle loans, etc. However, we ask that they are to be left with us along with your title for the duration of the loan.

How The Car Title Loan Process Works

Getting a vehicle title loan is easy! We have streamlined the process to ensure that your title loan experience is quick and enjoyable. The entire process includes only three easy steps and you can have money in your hands as fast as today! It’s easy to qualify for a title loan because you are using the equity you have already in your vehicle to secure a loan now. You are not selling your car to us, you’re simply using the vehicle’s value as security for a loan. A title loan is much more afforadable than a pay day loan. Typically interest will be Half of what a pay day loan is.

STEP ONE – APPLY

Fill out an application. In just a few minutes you will have the information finished so that we can make a decision on how much we can lend you today. Dont worry about your past credit. We understand and offer personal loans to people with bad credit every day.

STEP TWO – EASY PAPERWORK

Nothing hard–only simple things like a copy of your drivers license. The list is short and you can finish this step in under 30 minutes. Just bring or fax us what we need and we’ll get to work immediately for you!

STEP THREE – RECEIVING YOUR MONEY!

After arriving at one of our convenient locations you will be greeted by a professional auto title loan processor. They will be ready and waiting to help you in finalizing your loan. One of our staff will take a look at your vehicle, explain your loan documents, and hand you money. It all takes only about 15 minutes and then you’re on your way. Its just that easy.

Why not get started immediately? Call now to get your car title loan started and get your loan fast! It is that simple. What are you waiting for? Call now!

SANDY, UT (801) 748-1175
PROVO, UT (801) 373-2274
SPANISH FORK, UT (801) 798-1300
DO I QUALIFY?

UTAH MONEY STORE will tailor a loan to meet your induvidual needs. You may qualify to borrow up to 50% of the wholesale value of your vehicle if you answer yes to the following questions even with bad credit…

* Are you employed and/or have a stable income?
* Are you at least 21 years old
* Do you have a valid Utah Drivers License?
* Is the title in your name?
* Is your vehicle paid off?
* Is your vehicle in good running condition?
* Is it free of major body damage?

If you answered YES? Then you may qualify for a loan from UTAH MONEY STORE!

Usa Loans

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When a financial downfall strikes, you may not always be equipped well enough to handle it. In such a circumstance a loan can help you get out of it. It proves to be your rescue path out of an unpleasant financial situation. USA loans provide applicants in need of monetary assistance a large number of loan options to choose from. These could be secured loans and unsecured loans which fall under the personal loan category. Payday loans, door to door loans and bad credit advances are the various other types.

Not everyone is too happy about the idea of having to take assistance from a financial institution due to the problems that arise with interest rates and repayment periods. However, USA loans are very flexible and the problems of a customer are always taken into consideration. The amounts and time periods that accompany the various types of advances differ. Secured loans offer amounts in between 500 to 100,000 for periods in between 1 to 25 years whereas unsecured advances come with amounts ranging from 1000 to 25000 for tenures ranging from 1 to 10 years. The short term loans are accompanied with higher interest rates and they are given out for a maximum period of 30 days. Loans for everyone and door to door loans come under this type.

Each of the types have their own advantages and disadvantages and when going in for one you should be careful to pick a loan that suits your needs best. None of the types come with any restrictions on the use of the cash. Small requirements like pending bills, home improvement jobs, medical emergencies as well as larger ones like necessary investments, vacations can all be provided for due to the introduction of the variety of loan options.

They are a few eligibility conditions that accompany each of these teletrack cash loans. They are similar in nature and a few of them are listed below:

Minimum age of applicant should be 18

US citizenship is a must

A bank account and job security is necessary

Payday Loans

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Payday loans are small loans taken out at an extremely high interest rate, intended to tide borrowers over a crisis.  The loan is pinned to his next payday cheque and is usually arranged over a period of about two weeks.
The lenders are typically small lending shops, or internet stores that offer this service.  These loans are proposed for the kind of life crisis that requires a small amount of cash immediately, without any delay.  This should never be an attempted way out for paying debts in arrears, but rather for the unexpected emergency, such as an accident or an urgent trip to visit a dying relative.
This is the way it is normally arranged between lender and borrower:
The borrower has to go into the store and fill in and sign the agreement forms.  He must provide proof of income and is then required to make out a post dated cheque in favour of the lender.

 If the loan is not repaid by the borrower on or before his next pay day, the lender is entitled to cash the cheque.  Should the cheque bounce and the borrower be unable to repay the loan, he will be offered an extended time in which to repay the loan, but he will incur all the penalties of a bounced cheque.
Online lenders give the borrower the advantage of being able to ‘shop around’ for the best terms and conditions.  [It is not always possible to do this by walking or driving around from shop to shop.]  There are usually forms for the borrower to download and to fill in, giving personal information, social security numbers, and verification of employment, as well as banking details.
The signed paperwork is faxed back to the lender and a direct deposit is made into the borrower’s bank account.
In the USA at least 13 states, which have usury laws, have made payday loans illegal.  The rest have got around these laws, often by forming relationships with certain banks that do not have a usury limit.  In those US states where payday loans are legal, lenders typically charge 15% -30% of the borrowed amount for the approximately two-week period until the next payday.
In parts of Australia the maximum interest allowed is 48% including all fees.
In most of Canada the maximum is 23%.  There are also limitations on the amount the client is allowed to borrow.  Not more than an amount equalling 50% of his next pay cheque is allowed.
In the UK a payday loan typically costs the borrower 20% interest for two weeks.  However, as there is no law against rolling over the debt, the borrower could end up paying more than 120% if he is unable to pay for six months.
Payday loans are a very controversial issue and many if not most consider this form of lending to be exploitative of the most financially needy population sectors. However, there is no doubt that in absolute crisis, it may prove, in the short term, to be the only way out for some people.

Student Loans

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About Student Loans:
Student loans have gained utmost significance with the recent economic crunch. Above 90% of the students pursuing undergraduate studies have gained some form of student assistance to be able to continue education. Student loans are offered to students wishing to take up higher education but cannot afford the cost. These are offered by the federal government, the state, or by private companies and investors. Student loans not only cover the tuition fee, but mostly also provide for the other education related expenses such as transport, accommodation and campus living expense, textbooks and stationary, computers, and photocopies.

Student Loan Options:
Federal Student loans offered by the government are the cheapest and offer the lowest interest rates.

These include subsidized and unsubsidized Stafford loans, Perkin loans, PLUS loans for graduates and parents, and Consolidation loans. Stafford loans can be opted with the direct loan option or the Federal Family Education Loan (FFEL). Direct loans are directly offered by the US Department of Education whereas the others are offered by private investors but are backed by the government. Federal loans do not require students to have a co-signer or a good credit history. These also allow students deferred payments and a grace period of 3-6 months after graduation to start repaying the loan. These are mostly awarded on the basis of financial need of the applicant. Students pursue private loans upon exhaustion of all federal loan options. Private loans offer comparatively higher interest rates and they also require good credit history or a co-signer for the approval of the loan. Private loans can have variable as well as fixed interest loans and can be pursued by anyone, irrespective of the financial need. These private student loans are most commonly offered by Citibank, Sallie Mae, Chase, and SunTrust.

Applying for a Student Loan
To apply for a student loan, applicants need to complete the Free Application for Federal Student Aid (FAFSA) and submit before the deadline. It is the prospective institute’s responsibility to determine a financial assistance package for the student, which can include a direct loan or a private student loan offer.