Is it possible to avail loans despite bad credit?

March 19, 2013  //  Posted by: Financial advisor  //  Category: Bad Credit

Loans, bad creditAre you in desperate need of money and seeking a loan but the bad credit history is posing as a giant threat on the way? Well, here is good news for you. Today, people with bad credit can avail loans instead of facing rejection. Bad credit loans are introduced to help people without a good credit record in their worst financial situations.

You can apply for the bad credit loan online only. You will need to fill up the form and specify all the income and account details. The time of approval of loan is also very less and once you successfully apply for it, be sure to get the money soon. The money will be transferred to your account. If you have collateral, you can apply for the secured loan otherwise the unsecured loan option is still there for you.

You will have to may repayments on a regular basis to improve your credit history. You must go through the options provided by various online lending companies and the one that is best for you.

Managing your credit post bankruptcy

June 09, 2012  //  Posted by: Financial advisor  //  Category: Bad Credit

Tips to manage credit post bankruptcy,  bankruptcyIf there is something that will drive your credit score down the most it is bankruptcy. Most creditors or money lenders will be wary of lending you money once you declare bankruptcy. One really needs to work hard to get over the credit score to normal. That’s the reason it is always said to pay your bills in advance if possible and that too in full amount. Get an updated copy of all the credit bills that you pay which will clearly state that you have zero debts.

Apply for a credit card, as in case once you declare bankruptcy it is hard to fetch one. Depending from person to person, the credit card interest and amount is issued. Now, if you are unable to find a traditional credit card then find a secured one. Again, the rate of interest and lower amount of credit will depend on what you can afford. It is natural if you keep clearing your credits amounts regularly, after two to three years you will surely get the traditional card. Once you have faced bank bankruptcy mark your mistakes and avoid them from the next time.

Does bankruptcy affect your credit score?

April 15, 2012  //  Posted by: Financial advisor  //  Category: Bad Credit

bankruptcy tipsBankruptcy is always a sad situation. But you must remember that life is not over and you can’t give up easily. Yes, it will take a lot of effort and time for you to stand up on your feet again but there is a chance that you might do it well and faster than expected if you do the right things. Since you’re  bankrupt, your loans will be eliminated. This can be a problem as money is the most important factor at the moment.

You should also know that if you had a good credit balance before your situation, you’ll have heavier losses, however if you had bad credit before bankruptcy, your credit score won’t be affected much.  Take out a valid statement against bankruptcy, most preferably, beforehand, just in case to handle such situations. Also, many companies give out loans for people with bad credit, so you can apply under that too. Discuss your plans and next steps with your financial advisor or creditor.

Student loan with bad credit

April 14, 2012  //  Posted by: Financial advisor  //  Category: Bad Credit, Loans

Mostly it is seen that students need some sort of financing while trying to go for some higher education. But then the students are too young to have any solid credit background to apply for loan. So is it impossible for you to have any loans? Actually presently student loan with bad credit is also accessible. Students with extremely poor or nil credit background who want to study or those who have lost their job and now want to return to school for higher studies can apply for loans as well.

 

Now this student loan is again granted to students depending on their necessity. For students who are in dire necessity of a student loan are granted first. Then comes the turn of those who don’t have any serious financial crisis, apply for the loan as the cost of the education they want to pursue is a bit high.

What is a bad credit loan?

April 12, 2012  //  Posted by: Financial advisor  //  Category: Bad Credit

bad credit loan,Bad CreditBad credit loans are also known as unsecured bad credit loan, these types of loans are generally designed for people with low credit or no credit records or bad credit records; though they are of not much advantage with people with perfect credits. The interest rate of bad credit loan is much higher than the usual loans.

There are many banks and organization that gives provides bad credit loan; it’s advisable to do a proper research on the organization and its authenticity, who is giving the loan, check the interest rates and how much will you have to pay in a month as they are high in this case. Moreover the bad credit loan is given on the basis of a property like your home so that if you can’t return the debt they can take over your property; automobile loans given by a company is the oft seen example of bad credit loan.

Can you get a debt consolidation loan with bad credit?

April 04, 2012  //  Posted by: Financial advisor  //  Category: Bad Credit, Debt Consolidation

debt consolidation, bed credit Yes, it is possible to get a debt consolidation loan with a bad credit but the rates of interest could get a bit high. You should try with your bank as you probably have the best relation with them. Your own bank can work deal out for you since you have a personal and a professional relationship with them. To speak practically, almost all kinds of loans could be wrapped in the process of debt consolidation.

The most common of these include the charges of finance, late fees, charges of overdraft, credit cards, utility bills, personal loans, loans for cars, cards for store, cards for gas and also back taxes. By consolidation of your debts, you will be allowed to condense the monthly payments to a simple and a single bill with your rates of interest being lowered and being helped for paying the debts easily and quickly. This is an important tool when one is trying to avoid getting bankrupt.