Posts tagged "Repayment"

Home Loan Repayment Calculator

If you are planning to establish or acquire a good credit rating, you should be able to pay your outstanding short and long term loans without any delay. By doing this you are able to show lenders that you are able to deal with the credit agreements without any faults or compromises. If payments are made on time and are completed within the agreed time frame, borrowers are then rewarded by lenders with a good credit score. Almost all people know that a good credit rating can easily attract the lowest interest rates and this can be carried over when going for the lowest auto loan rates.

Lots of payment schemes are being offered by banks at the different terms and interest rates.

Affordable auto loan payments are available in the banking scene but one must be keen to find the right lending company that suits a person’s loan preferences. Many lending establishments offer simple application that is coupled with quick and easy approval. The internet provides many auto loan payment calculator that give applicants an accurate estimate as to how much amount they could qualify for , including the amount of monthly reimbursements they must pay.

Customers can be assured that they are treated to a low price guarantee on all items, while not discriminating clients in terms of credit status and credit scores. Clients are also given the chance to choose their payment terms that range from 6, 12, 18 and as long as 24 months. This option comes with a diverse choice of paying every month or twice a month. Discounts are also given as well as many benefits and services.

Home equity loans that come from poor credit can still be attainable despite having a very low credit score. This is due to the fact that these kinds of loans are considered to be secured loans. This is somewhat being translated to your loan being tied with the equity of your home. The bank is just giving you the money that is already trapped and included in the equity of your home. This translates to being able to get a bad credit equity loans without much difficulties.

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Posted by Cathy Miller - September 18, 2012 at 1:15 pm

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It’s Payback Time

Loaning money comes but natural to most people in the world these days. They do this for so many varied reasons. Because of that, there has also been a rampant increase in companies and agencies that provide these services to the people in need. It opened doors for a profitable business as well as reached out a helping hand to those who calls for help. But what if there comes a time when you have to settle those accounts and pay your loan. And what if that time says as soon as possible. What can you do?

If you find your place trapped in a position where you cannot escape the fact that you have to pay your personal loan, there are some techniques you can try in order to save yourself from getting rotten in that debt.

One, you can turn your assets into money. And by assets, this would include jewelries, bank accounts, company shares, life insurance policies, lands, cars, houses and everything else that is worth the money. These things could have a sentimental value for you but they could also mean paying back your debt. This would fit as a bright idea since a lot of banks out there tender loan against assets. Moreover, these kinds of loans happen to have lower interest rates thus giving you higher chances of settling your payments.

Two, debt consolidation. This means that all the present debts of a customer are summed up and placed under a single loan. This method is supervised by a consolidation agency. That agency will now pay off all your existing loans. All you have to do is to pay that agency. It may seem like paying the same amount of money. Yes it is but you are given the chance to have lower interest rates.

Three, evaluate other choices available in the financial market. One excellent way to get funds to pay your debt is from a bank where your salary is credited given you are employed. In that way, the bank is well aware of your record, they monitor your deposits and withdrawals thus making you transparent to them. If you are self employed however, you can still opt to make deals with the bank where you handle you business transactions with.

Having debt is one thing. Being buried in debt is another thing. Explore the techniques laid down in front of you so that in no time, you will be free from all those obligations.

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Posted by Cathy Miller - July 4, 2012 at 8:31 am

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If I pay my car loan repayment in advance, will my credit score increase?

Question by Katsutoshi: If I pay my car loan repayment in advance, will my credit score increase?
I’m thinking of buying another car.

1) Should I pay current loan in advance, then get another car after loan is completed.
2) Should I keep to pay current loan on schedule, then get another car before loan is completed.

I guess I can increase my credit score if I pay it in advance. However I also hear that paying in advance can decrease the score. Which is the true?

Best answer:

Answer by tudorjason
No, your score won’t increase if you pay off the car loan early. It isn’t about paying off debt (for secured installment debt anyway), it’s about payment history and not spending too much credit.

You should really only obtain debt if you need it. Do you want to replace the one you just paid in full or do want a second car? If it’s the former and you have money to pay off the loan entirely, I would suggest using the money for other things. Pay off some other debt, improve your education, invest it in an ROTH IRA, or save it because you can never have too much savings.

Because of all this, I think you should just stay on schedule.

And it’s sort of, maybe, true about paying off in advance will decrease your score. All things being equal as they are now on your credit report, if you paid off your car loan in advance, the payment history will fall off your report sooner than it has to and your score will drop because it will lose that history. But by the time your car loan does fall off, your accounts will have aged more replacing that lost history, so your score probably wouldn’t drop.

Know better? Leave your own answer in the comments!

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Posted by getloans - July 1, 2012 at 1:57 pm

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How Soon Should You Repay Student Loans?

How Soon Should You Repay Student Loans?

If you’re one of the fresh college graduates, then Congratulations! All the hard work has paid off. I don’t want to burst your celebratory bubble but it’s also about time you started paying those student loans.

Did you know that more than 65% of students opt for loans to finance college? As soon as you graduate from college, your lender will start sending you repayment information and stuff. Such a bummer, but hey, they helped you get where you are now.

Watch this video and learn some substantial stuff about student loans and how soon you should start paying back.

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Posted by Cathy Miller - June 24, 2012 at 2:49 pm

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