DALLAS, March 8, 2013 (GLOBE NEWSWIRE) -- Given the rapid influx of auto title loans in recent decades, lenders have come out in droves to cash in on "small-dollar" loan lending. Secured by the title of a vehicle owned outright, U.S. consumers are paying $3.6 billion in interest every year by taking out $1.6 billion in auto title loans. While lenders may be meeting consumers' immediate cash flow needs, predatory lending has become a huge concern for groups like the Center For Responsible Lending, a nonprofit, non-partisan organization that fights predatory lending practices.
While there are companies out there committing lending abuses, Texas Auto Title Loan wants to help consumers everywhere understand the consequences of borrowing on a short-term basis. They make a concerted effort to provide visitors to their website with valuable information in areas of borrowing, budgeting, debt, money management, and often times the downside of borrowing with an auto title loan.
"At Texas Auto Title Loan we promote ethical and responsible borrowing and lending. We don't use our blog as a tool to get people to borrow money, but we want to educate consumers on all aspects of finances including how to avoid taking out an auto or car title loan if possible," says Robert Gross, CEO of Texas Auto Title Loan.
Visitors to TATL's blog can find information on many different topics including budgeting to avoid taking out an auto title loan and staying out of debt. Article's even include: tips on saving for the holidays, how to budget as a single parent, credit card versus cash advances, and how one's personality affects their spending habits. The goal of TATL's web-log is to give its readers quality and informative content reaching far beyond the concept of taking out a loan. Gross says he wants people to understand what auto title loans are and the consequences that come along with not being able to pay it back. "We are looking to help people with their finances, not put them in jeopardy. If we can educate them along the way, that's even better."
About Texas Auto Title Loan
Texas Auto Title Loan (TATL) is an online lender providing short-term small dollar loans based on the value of the borrower's vehicle. Regulated by the state of Texas, TATL promotes responsible borrowing and lending. For more information, visit TexasAutoTitleLoan.com.
The Texas Auto Title Loan logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=17525
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