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Obtaining Money Quickly Without Good Credit in Today's Economy

  • Published: 2012-04-23 (Rev. 2015-09-26) - Contact: Chapes JPL
  • Synopsis: As a business that began over 30 years ago to provide a better loan option Chapes-JPL are now a nationwide asset based lender.

Definition: Chapes-JPL

Chapes-JPL - Established in Atlanta, Georgia in 1980, Chapes-JPL has been doing business for over 30 years. Chapes-JPL provides affordable loans on jewelry, gold, diamonds, watches, and other valuable assets, at the lowest rates and at the highest value in the industry.

Main Document

"While selling assets is a logical and quick monetary solution, too many people are visiting their local pawnshop or gold buyer expecting fair value for their asset."

Where can the average American, who has suffered financially turn when they need money quick. Banks are still slow to lend and only to those with great credit. But what about the rest of us? What options do we have when we are in a pinch

If money is power, how much power has the average American lost due to unemployment, failing investment portfolios, or decreased business profit margins? If the Buffet Rule that President Obama is proposing passes, even those so-called American millionaires will see the power of their own money biting them in the asset as well!

In addition to a decrease in income, a large percentage of those living in the United States are experiencing additional negative financial circumstances. Gas prices are persistently reaching record highs (and expected to continually increase). Inflation is rising, which affects the price of food, clothing and everything else we need and buy. Therefore, what will become of us

Gone are yesterday's lax lending requirements and loan happy banks making it more difficult for those with a FICO score of less than 720 to get a loan for a home, much less for a vehicle, home improvement, or other financial needs. If your FICO score is above 675 and you qualify for a bank loan, plan on paying much higher interest rates than your friends with better credit scores.

For the hard-working American who has encountered a bit of bad luck or misfortune at the expense of their credit rating, a bank loan is almost non-existent. Where can they turn for a loan with poor or bad credit? What can they do when experiencing a financial emergency, such as a dental or medical emergency, attorney fees, or home repairs? For example, when an air conditioning unit quits in mid-summer during unbearable temperatures, where can they turn to find funds for repairs or a new air conditioner

While selling assets is a logical and quick monetary solution, too many people are visiting their local pawnshop or gold buyer expecting fair value for their asset. Whereas these pawnbrokers are in the business to buy gold, diamonds and other high-ticket items, they are not in business for the benefit of their client. The average pawn dealer, jewelry store, or gold buyer is interested in paying as little as possible for an asset.

For those who are considering taking out a loan against an asset, be prepared to pay as much as 25% in interest per month without the ability to make payments towards the principal balance. Should the collateral item hold sentimental value, think twice about using it for a pawn loan. A high number of typical pawnshop customers never redeem their asset. The best way to sell jewelry, or use an asset as collateral for a loan is with a more reputable private lender.

In 1980, a company called Chapes-JPL in Atlanta, Georgia began operating an honest and affordable alternative to high interest pawnshops and jewelry buyers. Other than the fact that the company holds a pawn license, the typical pawn experience stops there. The company's primary goal was to provide a reliable lending source for good people at rates that are up to 90% less than traditional pawnshops. As a business that began over 30 years ago to provide a better loan option locally, they are now a nationwide asset based lender.

So, take your time and do your research. A few minutes of your time could save your hundreds, if not thousands, of dollars.


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