In the state of Ohio, there are many financial institutions at your disposal to obtain a loan at. However, a good credit score is needed for most of these loans, and for the individuals who are not in good credit standing this may be bad news. However, you may still apply for a title loan in Mansfield. Ohio Title loans are short term loans that uses your vehicle title as security instead of your credit. These small loan amounts are ideal if you need to pay off some bills that you are short on. Clear titles are granted to those who are the legal undisputed owners of their vehicles. You may obtain your vehicle title at a Title Bureau in Mansfield:
Address: 77 N Mulberry St, Mansfield, OH 44902
Phone: (419) 774-5510
To get started on getting your small loan, you can simply fill out the free application with your basic car information online. You need to include your vehicle identification number (VIN) found on your vehicle’s inside side door or vehicle dashboard. Along with this information you will need to provide us with a contact number so one of the helpful loan representatives may contact you. This discussion with the agent can include what documents you need to bring, the title loan location in Mansfield best suited for you, and they may even answer any questions you have about the process. Be aware that you are not obligated to go through with the title loan even if you have filled out an application. Even if you cancel the online application last minute, we will not charge you for any additional fees.
Title loan lenders are regulated by the state of Ohio, and with this in mind lenders must abide by rules outlined by the government. When it comes to missed and late payments, title loan lenders are legally allowed to take ownership of your vehicle. Depending on the lender, they may give you a few days after the payment was due to pay it off, however, if you are still unable to pay your vehicle can be repossessed. Title loan lenders do not have to notify you of repossession and can sell your vehicle if they choose to do so. If they proceed with vehicle sale, the money will be used to pay off the amount that you still owe. Vehicle repossession cannot disturb the peace or contain any violent acts. If they do, you may contact the police and explain the situation to them to stop the repossession.
Title loan lenders must contact you within 5 days after and send you notices explaining the reason for repossession, and the steps you can take to obtain your vehicle back. In most cases, you may retain ownership of your vehicle again after paying the repossession fees, and two loan payments past due. Notice of sale must be given to you after you have informed them that you cannot get the car back from them, typically all the notices sent after repossession can be between 5 to 10 days.
If you are unable to make any further payments with this loan, but would still like to keep your vehicle you can file for bankruptcy in the state of Ohio. Chapter 13 bankruptcy allows you 3 to 5 years to pay off the loan without any accumulated interest. This can negatively affect the credit score you have built, so make sure you pay off your title loan on time.