Car title loans for military personnel
It’s illegal for a lender to give you a title loan if you’re a service member, reservist or a dependent, thanks to the Military Lending Act (MLA). You also might have trouble getting other types of bad credit loans, since the MLA has restrictions on rates and fees that lenders can charge.
Consider looking into your other loan options and financial assistance programs.
I am wanting to get a loan and I am told that I have an amount I am eligible for and what I need to submit and I do that and if they change their mind without a good reason what do I do is that legal they may have switched up and discriminated against me after getting all my info and documents …perhaps
Hi,
Thanks for your inquiry. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.
Generally, lenders are allowed to change their mind on your loan application if no formal loan offer has been made yet. You can apply to get preapproved for personal loans and auto loans however, it doesn’t guarantee final loan approval.
Lenders will still have to make further checks to make sure the information you have supplied is correct and to see if you meet all the conditions and specifics of the loan before giving you a final loan offer.
In case your loan application gets disapproved, speak with your lender so they can explain the reason behind their decision.
I hope this helps.
Best regards,
Rench
I currently live in WV. I’m currently on vacation in SC and have had an emergency expense come up and need to obtain a car title loan. Is it legal to do so?
Hello B,
Thank you for your inquiry.
Car title loan is not available in West Virginia. You may instead check your payday loan options in West Virginia for your alternative.
Please be reminded that eligibility requirements and loan terms vary on each lender, so it is important to understand them prior to application.
Hope this helps.
Cheers,
Jonathan