What Is Necessary For An Installment Loan In Independence, Missouri?
Considering an installment loan in Independence, Missouri? Here’s everything you’ll need to make sure you’re ready.
In order to take out a loan, Missouri Title Loans, Inc. requires you to have a valid form of ID, a checking account statement open in your name, and proof of your income.
Getting an installment loan might be a lot easier than you think, and if you have these three items squared away, then you’ve got half the job done already. In this article, we’ll review the necessary items for an installment loan in Independence Missouri, and how you can take out one of our loans today.
What Do I Need For An Installment Loan?
Installment loans are unsecured, meaning that there’s no collateral put at stake by the borrower. As such, Missouri Title Loans, Inc. will ask you to provide some additional information to confirm your identity and your ability to repay the loan. We require the following from you for an installment loan:
- Your driver’s license or a valid state ID
- A checking account statement open in your name
- Your most recent pay stub
Let’s take a closer look at each of these three requirements.
1. Identification
Any lender will ask you to verify your ID. There are several legal reasons for this protocol, but at a basic level, Missouri Title Loans, Inc. needs to confirm that you are indeed who you claim to be. You can use your driver’s license to meet this requirement, but a non-driver’s license, military or student ID, or a passport are also acceptable.
2. An Open Checking Account Statement
Your checking account statement serves as a snapshot of your finances and gives us an indication that you can repay the loan according to the terms you agree to.
3. Your Most Recent Pay Stub
Lastly, you’ll need to bring along your pay stub to prove your income. This simple step will demonstrate to your loan associate that you’re bringing home a regular income that’s capable of repaying the loan. Your income may inform the amount you qualify for or the terms of your loan.
Other Factors To Consider
Aside from the simple requirements, there are a few other things you should know about getting an installment loan in Independence, Missouri. First, you’ll need to be 18 or older to be considered a legal adult, and thus responsible for any contracts you sign.
Another important marker is your credit. Installment loans don’t use any collateral, so your credit will be checked before you’re approved to take out a loan. Now, that’s not to say you won’t get approved at all, but just be aware that credit may impact your ability to get a loan or the terms of your loan.
Lastly, you’ll need a bank account to take out an installment loan with us. This may seem apparent, but it’s important to clarify that your checking account statement must come from your current active bank account.
How You Can Take Out An Installment Loan Today!
If you need urgent cash for an emergency today, then an installment loan in Independence Missouri might be the right call. To get started, first ensure that you have the important items listed above, namely your ID, pay stub, and open checking statement.
Once you’re sure you’ve got what you need, your first step towards completing an application is to fill out the simple request form. Doing so informs the nearest Missouri Title Loans, Inc. branch that you’re interested in and connects them with you. The form contains some of your basic information, so you can skip the preliminaries when you apply.
After filling out the online loan inquiry form, a loan associate will give you a phone call to review the loan details, your monthly payment, and other important details. You’ll then need to bring your necessary items to the nearest storefront for the associate to review.
Once done, the representative assesses your loan, and if you get approval, you can receive your money directly deposited into your bank account that same day or the subsequent bank business day.
Get Started Online Today!
Now that you understand exactly what you need to take out an installment loan in Independence, Missouri, you can make financial decisions with confidence in an emergency.
Life emergencies can take everything out of focus, leaving you scrambling for resources you just don’t have. When that happens—whether it’s a car breakdown or rent troubles—consider relying on Missouri Title Loans, Inc. to help you out with an installment loan in Independence Missouri.
Doing so isn’t always the right call, but it can be a real benefit when used correctly. If you’re ready to take a step forward with your short-term financial situation, then head online to complete the simple inquiry form today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.