Posts tagged "Bad Credit"

How to Get a Car Loan Even If You Have Bad Credit

If you have a poor credit statement in your pocket then this loan is for you. It does not mean you cannot have a car again. Previously it was hard to get another credit or loan after failing to come through on the first one but now it is possible. That is why it is dubbed the bad credit car loan. It finances people with low credit reputation. Is this even legit? Give me your two cents on it!

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Posted by Cathy Miller - January 28, 2014 at 9:51 am

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Bad Credit Home Mortgage

When you have acquired a mortgage loan in the last 4 years or currently have one at the moment, creditors don’t like it to see mortgage lates. If in case you were able to own a home beyond 4 years back, creditors could not care less. However, if you obtained mortgage lates within the last 12 months on your current mortgage, you must hold out for 12 months starting from the last late before you can refinance or buy another home.

Foreclosures tend to be okay with creditors as long as they are beyond 4 years old. Nevertheless, if it’s a recent one, you must be waiting up until a foreclosure is beyond 4 years before you get approved by a creditor for yet another loan.

Late payments may be a hindrance to a loan but you can deal with it when you possess a good credit score or perhaps if they’re more than 1 year ago.

Tax liens as well as judgments aren’t really pretty since they take the first lien position when it comes to a mortgage loan. Creditors instantly reject you in an event you have these since it could indicate that if you default on the home mortgage and the house is sold, the tax lien and judgments are the first ones to get paid and the creditor only gets what’s left. This is a huge risk to run since the lien holder would prefer to be the first lien holder on the home.

Back owed child support may be an impediment to a great deal as well. It’s virtually the same with a judgment. Thus, see to it that you are all caught up or hold out until you are all caught up with your child support before starting to hunt down a home.

Bankruptcy will simply be a problem in an event you have filed within the last 4 years. If it has reached beyond 4 years ago, you are still able to get prime lending rates just like the rest.

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Posted by Cathy Miller - October 10, 2013 at 3:01 pm

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Credit Cards For Bad Credit No Deposit

Credit Cards For Bad Credit No Deposit

Looking for credit cards for bad credit sans any fees, particularly if your credit is extremely bad, can be an exhausting and usually unrewarding process. Numerous applications, getting declined, can leave you feeling like it’s totally impossible or that these cards that come with no fees do not exist. But what’s the deal? Watch this video.

Video Rating: 3 / 5

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Posted by Cathy Miller - October 7, 2013 at 3:08 pm

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Getting A Car Loan With A Bad Credit

Needless to say, you would not be having a hard time getting a car loan if you have a good credit score, and you know what happens otherwise. Bad credit auto loans are considered a high risk by financers. It’s a given fact that the economy is dwindling, and that’s the reason why it becomes so hard to keep and maintain a good credit score. And those lenders, to be safe, usually charge pretty high interest rates or require huge amounts of down payment.

Depreciation rates for cars are normally high. Poor credit plus a high depreciation rate equals a high risk to the lenders, so it is advised that you save money that you will be using for the down payment. By doing so, it will dramatically decrease the risk for the financer.

If you are able to get the loan approved at a lower interest rate, then you will be able to pay the lower monthly payment without so much trouble. Through this, you get to up your credibility and you are able to enhance your credit record.

Before selecting a car, it is recommended that you select the loan first as loans depend on the car you choose, whether it is a used or a new one. And since the depreciation rate for used cars is pretty much lower that of the new ones, the risk in financing used cars is significantly lower for those with poor credit.

Planning out your budget is a crucial thing to do when you have poor credit. So picking the car and managing your finances very well is essential to decrease the risks for the lender.

But there are timed when your bad credit makes it almost impossible for you to get a car loan. This isn’t the end of the world, though, since there will always be alternative financing methods for you.

One is your personal overdraft. These usually have higher interest rates compared to car loans, but with smaller amounts, they are actually more flexible. Also, they generally have flexible repayment period.

Another is revolving line of credit which is, by some means, the same with home equity loans. Only, the finances can be drawn again after they have been repaid without the need to reapply.

Short term finance or pay-day loans can also be a choice. These loans help individuals manage their finances until the next payday. No doubt about it, they are helpful but they tend to have very high interest rates and should be paid within the next 60 days.

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Posted by Cathy Miller - August 26, 2013 at 1:28 pm

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Business Loans For People With Bad Credit

When you have your own business you may come upon times where you’re up against an unexpected situation and need a bad credit business loan.  In most lending situations your first choice would be to talk to your regular bank or another local bank.  While some will recommend that you skip this step to save time, I generally think it is a good idea to continue to build a strong banking relationship with one bank.

Another option is through a factoring agreement.  You contract with another company to give you money now at a discount rate based on anticipated future sales.  Sometimes this can be done with outstanding invoices or even work in progress.  Another possibility, if you have a credit card merchant account, is to use the expected monthly credit card sales numbers.  You probably have an average amount of credit card sales that can be trusted as future revenue.  This means you have low risk in receiving this future income stream.

The key is to present the factoring company with your past credit card processing statements.  This is the evidence you need to prove future income and get a business cash advance.

Factoring will get you the money you need now.  Since the repayment schedule is based on your revenue volume you don’t have to worry that the payment schedule is too much too fast.  The factoring company does not want to put you out of business.  They want you around to pay your obligations.  Typically the advance is rather short-term which may have a repayment of 6 to 12 months.  Once paid back new revenue is available for business growth.

Here’s an example.  Let’s say you get a factor of 1.3%.  This means that on a $10,000 cash advance you would be paying 30 cents on the dollar by the time you pay it back.  That is, your $10,000 borrowed becomes $13,000.  Then the hold-back defines how much is kept until your balance is paid.  In this same example, if the hold-back is 15%, then 15% of your future credit card sales go directly to the factoring company each day.  Looking at this on a monthly basis, let’s say your monthly credit card sales are $12,000.  15% of $12,000 is $1,800.  That would mean that $1,800 per month will go to the factoring company.  You will have paid off your obligation in just over 7 months.

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Posted by Cathy Miller - July 31, 2013 at 2:27 pm

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How to Fix Your Credit in 45 Days or Less: Understanding Credit Score, What is Debt, Bad Credit, Free Credit Reports, Credit Repair, Secured Credit Cards, … Bad Credit (Nicholas Black’s How-to Series)

How to Fix Your Credit in 45 Days or Less: Understanding Credit Score, What is Debt, Bad Credit, Free Credit Reports, Credit Repair, Secured Credit Cards, … Bad Credit (Nicholas Black’s How-to Series)

How to Fix Your Credit in 45 Days or Less: Understanding Credit Score, What is Debt, Bad Credit, Free Credit Reports, Credit Repair, Secured Credit Cards, ... Bad Credit (Nicholas Black's How-to Series)

How to Fix your Credit in 45 Days, or Less: Understanding Credit Score, What is Debt, Bad Credit, Free Credit Reports, Credit Repair, Secured Credit Cards, and Loans for Bad Credit

by Dr. Nigel Peterson & Nicholas Black

This book will tell you the insides and out about fixing your own credit score. What you will learn, from an industry insider (Dr. Nigel Peterson) is what the “Credit Repair Companies” Charge you thousands and thousands of dollars to do. And you can do it on your own, right now!

Here is what is covered in the book:

Introduction: How do you fix your Credit?
• Step 1: Research and Prepare all Background Info
• Step 2: Challenge the Credit Bureaus
• Step 3: Demand a Re-Investigation of the accounts that remain Negative
• Step 4: Demand a Validation of Debt
• Step 5: Demand a Revised Validation of Debt
Chapter 1: What is Your Credit Score?
• Research and prepare all background info
• Challenge the credit bureaus
• Demand a re-investigation of the accounts that remain negative
• Demand a Validation of Debt
• Demand a revised Validation of Debt
Chapter 2: What are the 3 Bureaus?
• What is a Credit Bureau?
• What are the 3 Credit Bureaus?
• Addresses and contact information for the 3 Credit Bureaus
Chapter 3: Research Your Credit Report
• Factors that negatively affect your credit score
• What is a derogatory?
Chapter 4: The 4 Federal Laws You NEED to Know
• The 4 federal laws you’ll need to know
• Hiring a company to fix your credit
Chapter 5: What are Collections Agencies?
• When can a debt collector or collection agency contact you?
• Things the collection agencies and collectors cannot do!
• Things debt collectors are prohibited from saying
• Can get collectors like you?
• Unfair practices for debt collectors
• Can they garnish your wages?
• Can they garnish your benefits?
• Are they licensed in your state to conduct business?
• Is the collection agency even a legitimate company?
• Is the collection agency even still in business?
• What to do with the collection agency first contacts you.
Chapter 6: How to Receive a Free Credit Report
• Do you want a free credit report?
• Does it hurt your credit when you check the score
Chapter 7: The different types of contracts/agreements:
• The 4 different types of contracts and agreements you can enter into
• Is there a statute of limitations on debt agreements?
• Why should you care about a statute of limitations?
• How long is the statute of limitations?
• How do you calculate when the statute of limitations is over?
• Basic list of states, and the applicable Statutes of Limitation
Chapter 8: What will you need for the dispute letters
• The documents/Info necessary for your dispute letters
• How to Mail the dispute letters
Chapter 9: Disputing Derogatory Information with the 3 Bureaus
• Identify Derogatory Information
• What does it mean to Dispute?
• What is the Process to Dispute?
• What should your dispute letter look like?
• Example dispute letter
Chapter 10: Getting the 45-day Dispute Results
• What is a re-dispute?
Chapter 11: Tips for FHA/VA Loans
• FHA and VA Guidelines
• Approach the loan with a good credit rating!
• FHA TOTAL Scorecard
• FHA Loan requirements (information)
• What additional info will Veterans need?
• Where do FHA loans come from?
• How to pre-qualify for an FHA/VA loan?
• FHA Loan mistakes to avoid!
Chapter 12: How to improve your credit
• Some basic steps to improve your credit
Chapter 13: Getting new lines of credit
• What is the best way to increase your Credit Score?
• A little sound advice:
Chapter 14: Dealing with medical debts
• Is a doctor or hospital allowed to refer an overdue medical bill to a collection agency?
• Can my personal medical information be disclosed directly to a credit reporting agency
• Can you dispute a medical collection?
• How to dispute with the Medical Facility/Insurance Company first (7-steps)
Chapter 15: What now?
• Now that you understand the process, get started!

Price:

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Posted by getloans - April 12, 2013 at 8:39 am

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Car Loans For People With Bad Credit

In this dwindling economy, there are things we want and even need that seem so elusive. We strive to make ends meet, but it’s just too hard sometimes.

You could actually get approved for a car loan even if you have a low credit rating by making use of bad credit car lenders online that zero in on working with those who have credit scores as low as 480. Imagine that! For the most part, no down payment will be required just as long as the loan value of the vehicle is not far from the purchase price. To dodge being asked for a down payment, you must see to it that you’re getting a good price on the car that you’re eyeing.

The best thing about this kind of car lender is that you need not limit yourself to only picking the car of your choice from one car lot. As a matter of fact, you can buy your car from practically anywhere. This can even be done online, from shopping the local classifieds or at a dealer anywhere. This presents you a lot more opportunities as compared to going from car lot to car lot trying to get approved at a reasonable rate.

Majority of car dealers don’t have access to the best bad credit car lenders. This is because they can’t generate as much money selling a car to someone with a low credit rating as they would when they sell it to people who have good credit rating. Why, you may ask. Bad credit car lenders don’t agree on dealer fees and other things being added to the price of a car. They see to it that the amount you drive away owing on the car isn’t really that much more than what it’s really worth. This can actually benefit you, considering you’ll be prevented from making bad decisions.

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Posted by Cathy Miller - March 23, 2013 at 12:59 pm

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Bad Credit Car Lenders

We all have our dreams. Some dream to be working in a prestigious company, some dream to have every high-end gadget available in the market, and others dream of owning a car. However, a dream could be just a dream for some reason. That’s not always the case, though.

Even if you have a credit score lower than 480, there are still bad credit car lenders out there that can help you. You will no longer have to give down payment given that the loan value of the car of your choice is somewhere near the purchase price. To be able to take advantage of this, see to it that you’re getting a good price on the car that you’re eying.

One great thing about this type of lender is that you have a lot of choices with cars. Also, you can do this in many different places. There are different ways you can avail of this, too. It could be online, or a physical dealer. A lot of opportunities are available for you to grab. You no longer need to go from car lot to car lot trying to get approved at a reasonable rate.

However, majority of the car dealers don’t have access to the best bad credit car lenders. The reason for this is because they don’t get a sizeable amount of profit through selling a car to a person who has a poor credit rating as compared to one that has a good credit standing. Why, you may ask. This is because bad credit car lenders don’t allow dealer fees and related stuff to be added to the car’s price. They prefer that the amount you will be driving away owing on the car will not be too much beyond its true price. This will be a benefit on your part, considering you’ll dodge making a poor decision.

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Posted by Cathy Miller - February 10, 2013 at 12:51 pm

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Bad Credit Car Lenders Aren’t Bad

If you are familiar with how credit cards work, then you definitely know how important it is to have a high credit score. Well, it does not have to be extremely high but decent enough to be considered as good. With a good credit score at hand, you will be assured of numerous advantages and awesome perks.

For one to be able to achieve a good credit score, you must have a good credit history. You must have a credible background and fit requirements. You must also be punctual. It is called a credit for a reason and that is for it to be paid on time. You must be meeting your scheduled dues so as to receive a good credit score. You must also be a flexible credit holder like being able to juggle a number of different credits. This will prove to your credit lender that you know how to manage yourself well.

However, despite the efforts of maintaining a good credit score, some people just don’t get the best things in the world. Some may have problems with an already leaky credit history, a couple or few missing out on deadlines and not having enough various credits. With that said, you are deemed to be a bad credit holder.

What these bad credit car lenders do is they focus on dealing with people who have credit scores as low as 480. With them, no down payments are needed given that the loan asked is not sky high distant from that of the original price during purchase. Another good thing about them is that you need not to enclose yourself to choosing a car from only one car lot. You can go car hopping, searching for the right one anywhere you want, no holds barred.

But being a bad credit holder has its benefits specifically when it comes to bad credit car lenders. Thanks to them, people with bad credit scores are given the opportunity to still get their dream car. And a person can only do so by getting a car credit using a bad credit history.

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Posted by Cathy Miller - July 29, 2012 at 1:33 pm

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