Recession Hurting Lower Income People, Experts Say

Qik Car Title Loans (QTL) would like to comment on the Brookings platform’s assertion that the great recession hurt the middle class twice. According to multiple sources, middle class households are still feeling the effects of the great recession. Statistics show that the middle class has gotten a lot less out of the economy than those at the very top and at the very bottom. Learn more here: Qik Car Title Loans.

While everyone has seen their wages go up, the gains have been far from equal, with wage growth being at its highest in the top wage quintile. At the bottom, wage growth has been described as ‘robust,’ with growth being above 6% due to several minimum wage increases at both the national and the state levels. Wage growth in the middle quintiles was notably weaker, however, with the result being that wages in the middle are now closer to wages at the bottom. This is also affected by geographical location (with some areas being hit harder than others).

Across a variety of cities, wage growth at the top and bottom was remarkably similar. In the middle quintiles, however, growth has lagged behind the other two sections of the population. Middle class workers have not gained as much as their lower and upper class counterparts, and middle class workers in harder hit areas have also gained less compared to middle class workers in areas more seriously affected by the recession. Those living in areas like Atlanta, Houston and St Louis were hit by the great recession twice.

With the middle class still feeling the effects of the recession, many may find themselves struggling to survive in this economy. A representative from QTL has explained that many businesses are hanging on by a thread and need help to get by stating, “We have seen an increase in lending applications.” The company offers financial aid using their customers’ vehicles as collateral. This provides those in need of financial aid with a quick and easy way to get cash without having to wait weeks or even months to be approved — or having their applications turned down due to having bad credit.

With Qik Car Title Loans, the only requirement is a vehicle title. Banks and other similar institutions require good credit, which is something that people in need of financial aid might not have. They also tend to take a lot longer to give their customers the cash they need. Qik Car Title Loans on the other hand, can approve a cash advance within 15 minutes. One need only follow a simple three-step process. The first step is to either call or fill out an online application form. After doing this, the applicant turns in their paperwork, including a valid ID or driver’s license, proof of income, a valid car title and insurance and registration. Once this is done, the customer gets immediate access to the cash they need. Qik’s site can be found at https://qikcartitleloans.com.

People are rarely prepared for the unexpected and costly events that often happen in life. Often, these events wipe their savings and leave them in need of quick cash to make ends meet. Qik understands this and so places great emphasis on speed and convenience. Credit is a major reason many people do not turn to banks when they need emergency cash.

“Car title loans can offer you a great advantage if you suffer from poor credit and are trying to build up your credit score,” the financial aid provider says. “Why? Car title loans are also a type of installment loan, meaning you make your payments in fixed portions over time, such as monthly payments. When you make your payments on time and in the right amount, your payments will be reported to the three large credit bureaus, Experian, Transunion and Equifax. If you were suffering from a poor credit score, making your payments on time can help boost your credit as you demonstrate your trustworthiness to the credit bureaus.”

For more information on Qik Car Title Loans and their services, visit their website. Qik is always looking to help people find the extra cash they need to make it through difficult times, and their services are a great resource to have access to in emergencies.

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For more information about Qik Car Title Loans Main, contact the company here:

Qik Car Title Loans Main
Henry Jones
(855) 211-5880
info@qikcartitleloans.com

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