title loan
Car-collateral quick cash
A title loan is a short-term loan in which the borrower uses their vehicle title as collateral.
The lender holds the title until the loan is repaid; if the borrower defaults, the lender can repossess the vehicle.
Title loans typically carry high interest rates and are associated with predatory lending practices targeting people with poor credit or urgent cash needs: She took out a title loan to cover rent but ended up losing her car.
Rapidly obtained funds
- short-termOf limited duration
- emergency fundReserve for unexpected expenses
- liquidityConvertibility to cash
- desperationUtter loss of hope
urgent need · stopgap · financial crisis · unexpected expense · last resort
Chief school administrator
- interest rateCost of borrowing money
- repaymentGiving back what's owed
- installmentPeriodic partial payment
- amortizationGradual debt reduction schedule
finance charge · borrower · lender · creditor · debtor · balance · payment schedule · refinance
Claim securing debt
- ownershipLegal right of possession
- deedWritten property conveyance
- securityProtection from threat
- pledgeBinding promise given
asset · pawn · pink slip · encumbrance · asset-based · valuation · appraisal · equity
Creditor seizing collateral
- defaultPreset standard option
- financial strainDifficulty meeting monetary obligations
- bankruptcyLegal status when insolvent
- credit damageHarm to borrowing reputation
overextension · debt spiral · negative equity · insolvency · garnishment · credit score impact
Extortionate money lending
- predatory lendingExploitative loan terms
- exorbitantUnreasonably high, as costs
- gougingExploitative overpricing
- exploitativeUnfairly using others' vulnerabilities
unconscionable · debt trap · rollovers · hidden fees · fine print · subprime · cash advance · balloon payment
quick cash
Rapidly obtained funds
- short-termOf limited duration
- emergency fundReserve for unexpected expenses
- liquidityConvertibility to cash
desperation · urgent need · stopgap · financial crisis · unexpected expense · last resort
principal
Chief school administrator
- interest rateCost of borrowing money
- repaymentGiving back what's owed
- installmentPeriodic partial payment
amortization · finance charge · borrower · lender · creditor · debtor · balance · payment schedule · refinance · rollover
lien
Claim securing debt
pledge · asset · pawn · pink slip · encumbrance · asset-based · valuation · appraisal · equity · collateralized
repossession
Creditor seizing collateral
- defaultPreset standard option
- financial strainDifficulty meeting monetary obligations
- bankruptcyLegal status when insolvent
credit damage · overextension · debt spiral · negative equity · insolvency · garnishment · credit score impact
usury
Extortionate money lending
- predatory lendingExploitative loan terms
- exorbitantUnreasonably high, as costs
- gougingExploitative overpricing
exploitative · unconscionable · debt trap · rollovers · hidden fees · fine print · subprime · cash advance · balloon payment
- debtdebt, creditor, owe, debtor, lender
- debtscredit card debt, medical debt, student debt, mortgage, debt
- loanslend, borrow, borrower, lender, microloan
- informal financecash only, under the table, off the books, handshake deal, verbal agreement
- car salescar dealership, car dealerships, dealerships, dealer, auto dealership
- bankingbank, banks, ATM, ATMs, account
title loanunsecured loan
Debt lacking pledged property
unsecured credit · signature loan · personal loan · credit card · line of credit
title loancredit union loan
Borrowing from member-owned institution
conventional mortgage · subsidized loan · bank loan · grants
title, loan, titles, titled, titling, entitle, entitles, entitled, entitlement