In the face of an emergency, a title loan might seem very attractive, especially if you need cash right away or have exhausted all your options for getting a loan from a traditional lender, such as a bank, savings & loan or credit union. However, if you take out a title loan, and then don’t bother making sure you’re making the payments on time, you might just end up losing one of your most valuable possessions, and your sole means of transportation (which is usually a person’s way to get back and forth from work to make more money).

Instead of a title loan, you should first consider some of your other options that you may not have thought of yet. So, before you sign any title loan papers, why not try to:

1. Work out a payment plan with the seller or provider of whatever it is that you are taking the title loan out to pay for.
2. Contact a credit counseling service, which might help you sort out your finances at a reduced rate, or for free depending on the city or state where you live.
3. Borrow some money from a friend or family member.
4. Seek financial help from a charity or government agency.

Remember that a title loan is not that risky for the lender, so they’ll usually be more than willing to “give” you one. However, it may be very risky for you, so just be careful (just like anything else in life)!