Car name loans are short-term loans guaranteed by the borrower’s car. Customers typically spend as much as 200% APR on these loans, causing a massive pecuniary hardship. An alternative to these high-interest title loans so they can break free of the high-cost lending cycle and regain financial independence in response to this problem, Take Charge America has teamed up with MariSol Federal Credit Union to offer Maricopa County residents.
It is all right element of our help loan system.
Here’s how it operates:
- When you have a name loan, take control America offers you a free of charge credit guidance session to assist you create a spending plan and action intend to spend down the debt.
- MariSol Federal Credit Union can pay down your current name loan (up to $4,000) and offer you with an alternate loan that is lower-interest it is possible to pay back within 12-36 months.
- What’s more, you are going to establish a checking account with MariSol Federal Credit Union that will help you build an urgent situation savings and arrange for a safe future that is financial.
- On top of that, there aren’t any costs to be involved in this system!