Single parent households usually struggle more financially. While there are programs that can assist them, a medical emergency or unexpected expenses would require a significant amount of cash fast. A car pawn loan Surrey British Columbia is one option available to struggling parents. However, some borrowers are wary that being the sole breadwinner will affect their chances of getting a loan.
Does Being Single Affect My Loan Application?
Whether or not you’re married has little impact on your title loan application. It’s actually illegal for lenders to deny you a loan based on that. According to the Equal Credit Opportunity Act, no lender can discriminate against borrowers based on their marital status. Every application will be determined based on preexisting guidelines.
However, it doesn’t mean that being a single parent won’t influence a lending company’s decision to grant you a fast loan or determine how much to lend you. After all, single-parent households only have one income, and this could make repaying a loan more difficult. It’s similar to what a divorced borrower goes through. They remain accountable for loans incurred during the marriage, especially if they were a co-borrower. The loan will still be in their credit history even if it was their partner who borrowed the money.
Trusted Car Loan Expert
Regardless of your status in life, Premier Loans Canada will always be available to help you. You can borrow as much as $45,000 without having to worry about credit checks or employment requirements. This trusted lender is known for having the lowest interest rates around. They also offer low monthly payments and flexible payment plans. Their easy application and quick approval process ensure you get the financial help you need within the day. Log on to their website to apply. You can also call their toll-free number at 1-855-965-1650.
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