At Lake Title, we understand that proof of income can vary by your employer, and we will work with you to ensure we are able to get your title loan request approved. We typically request that you bring in your most recent paystub or bank statement if you receive direct deposit, a copy of your paycheck from your employer or the award letter from the Social Security Administration if you receive supplemental income. In certain circumstances, we will accept an official employment verification letter with the company letterhead from your employer if you are unable to provide proof of income in traditional means.
Are you self-employed? We can still assist you with getting your title loan request approved! If you deposit your earnings into a business or personal bank account, we can accept those as proof of income as long as you are able to provide proof of ownership of the business account if you choose to use it. You are also able to provide us with your loss and profit statement along with proof of ownership of the business in which you are providing proof of income for.
While we do typically require you to be on the job for 30 days in for us to factor your income into our title loan products, if you’ve just started a job and haven’t gotten your first paycheck; there’s no need to worry! We have some no income loan programs that we can get you started on, and once you’ve been on the job for 30 days and can provide proof of income, we are able to increase your borrowing power with Lake Title. This ensures you not only have access to cash now, but it will allow you access additional cash after you are able to meet the 30-day income requirement. Since we have a lot of customers that utilize these programs when they have unexpected expenses pop up, we understand that life happens.
If you still have questions or are unsure if something you have will qualify for proof of income, please reach out to one of our friendly office representatives at (352) 692-2274 and we will be happy to assist!