I Need an Immediate Cash Loan or Payday Loan- What are My Options?

To be able to take advantage of better loan options in the future, fix your credit today. If you have unpaid debts, try loan consolidation and make timely payments. If you have monthly credit card bills, pay them on – time. If you only have an average income, then exercise control over your finances. Prepare an emergency fund for the rainy days and have a trust fund for your kids. Prepare a monthly budget. Do not spend on impulse, instead plan and decide wisely. These are simple solutions which will help you manage your finances well. Unexpected expenses and medical emergencies can ruin your monthly budget so you have to really prepare for these situations. However, these days, it is very difficult to save and sometimes, expenses and bills are more than what an average income can handle so running into financial problems is inevitable.

But thanks to immediate cash loans because they are already available to help you meet monthly expenses and emergencies when you run out of cash and your paycheck is still weeks away. These loans ensure speedy process so that they can really be extended fast and be used right away. They are available from a variety of banks that lend to people with bad credit so finding one will not be difficult. Some are even available online so you will never be short of options to choose from. Just make sure that you understand their pros and cons before you make a choice.

Immediate Cash Loan Options – Pros And Cons

Option 1 – Immediate $2,000 Payday Loans or Instant Cash Advance Online

Pros:
1. Easy, fast, and convenient to get. You can have the money within hours.
2. Do not come with collateral or cosigner.
3. Requires minimal requirements.
4. Do not require a credit check.
5. High approval rating despite bad credit.

Cons:
1. Risky because you will be handing personal and account information to unknown lenders.
2. Comes with high interest rates (10% to 30%), origination fees (17% or so), and huge penalty charges for delayed payments and default. APR range from 600% to 780%.
3. Comes in very limited repayment period (14 days to 30 days).

Option 2 – Pawnbroker Loans

Pros:
1. Easy, fast, and convenient to get as well
(similar to private personal loans). You can have the money within minutes.
2. Do not require a credit check and cosigner.
3. Comes with manageable interest rates and flexible repayment term (1 to 4 months).
4. No other requirements except for the valuable item that is to be pawned off.
5. Can be used for bad credit.

Cons:
Risky because of the collateral involved. You will take the risk of losing the valuable item that you have pawned off if you fail to repay the loan on time.

Option 3 – Credit Card Cash Advance

Pros:
1. Easier, quicker, and more convenient to get than payday loans and pawnshop loans. You can have the cash that you need in just a few minutes.
2. Comes with a flexible repayment period.
3. Do not require a credit check, collateral or cosigner.
4. No other requirements except for a credit card with enough credit to allow cash advance.
5. No application procedures and can be taken out for bad credit.

Cons:
Comes with high interest rate and surcharges.

If you need a loan asap, and want to know more about immediate cash loan options, feel free to visit, www.immediatecashloans.org.

$2,000 Payday Loans: The Advantages

Although most payday loan lenders usually allow a maximum of $1000 or $1500, it is not impossible for them to stretch the limit to $2000 during special instances. A 2000 loan is indeed very much possible. Payday loans are some of the best options when you need cash fast to meet unexpected expenses which may happen anytime. As mentioned earlier, although payday loans are meant to be small amount of loans for a short term, the lender can stretch their limits to accommodate people. So, why should you get a payday loan? What are its advantages compared to other types of loans?

Payday loans mean quick cash. They can bring you that much needed cash quickly, sometimes in less than 34 hours. Usually the money is deposited to the borrower’s checking account. This is why it is very popular.

Sometimes there are bills to pay but because of some unforeseen circumstances you no longer have the funding to pay them on time. If this happens, your credit score will plummet. Payday loans can help you with this. It can help maintain your score and even boost it. It is great tool to help you pay bills on time.

It is very much easy to borrow payday loans. You do not have to go to the bank yourself. If you have a computer and Internet connection, you can apply for it without leaving your house at all. You do not even have to dress up because you will not be personally interviewed by the bank manager. All you need to do is just fill put the application form online and wait for the response of the loan provider.

The eligibility criteria for payday loans are minimal. It is not at all overwhelming. Most financial institutions just have the criteria of being 18 and over with a steady job that pays at least a thousand dollars. A checking account is also needed. However, payday loans are not available in all states. For example, payday loans in Georgia are prohibited.

Restaurant Financing Options Other Than A Small Business Loan

Perhaps one of the most lucrative business ventures these days is a restaurant. Food, being one of man’s basic needs, is something that we simply cannot fail to have. Add to this that certain kind of magic that food has that brings different kinds of people together. Maybe you have also thought about building your own restaurant or perhaps you already have one. The thing is it is not all too easy own and manage a restaurant business. There are lots of things you need to pay attention to like a small business loan here and there that you need to pay plus all the other concerns involving inventory, menu, maintenance, and sufficient cash flows.

Of the many concerns that a restaurant owner has, one of the most challenging appears to be capital. Without sufficient capital, any kind of restaurant, whether big or small, cannot help but simply fail. This is why it is crucial for restaurant owners to have easy access to additional capital – may it be startup or working capital. There are several ways by which additional funding can be acquired and one of the most common institutions that restaurant owners turn to is banks. However, it is not always that a bank will approve a small business loan application.

When this happens, a restaurant owner can seek help from the Small Business Administration or SBA. Compared to banks, the SBA is more lenient when it comes to requirements and a small business application can have better chances of getting approved. But much like banks, the SBA also inspects the business credit profile of the restaurant owner. And if a restaurant owner still has not established a business credit profile or has a poor one, where else can the restaurant owner turn to?

There are now several independent financing institutions that offer alternative restaurant funding options. There are now several forms of restaurant financing available, including cash advances, business lines of credit, unsecured business loans, and credit card factoring. These alternative funding options enable restaurant owners to have better access to the additional capital that they need.

When your restaurant business faces funding challenges, do not give up on your efforts just yet. Even if banks turn you down, it is still not the end. There are still other ways to acquire the additional funding that you need. Try to learn more about your options – a small business loan is not the only answer.

Bad Credit Business Loans Might Be The Answer

Are you concerned about the credit profile of your small business? Has it been stopping you from acquiring additional capital from lenders? These days, this should not be too much of a problem anymore. Small business owners who have poor credit ratings or are starting to build their credit profile need not feel restricted from acquiring additional startup or working capital. Thanks to financing institutions that offer bad credit business loans, almost every small business owner these days can have the chance to grow their business venture. Through this kind of financing option, additional capital should no longer be a big concern that seems to be impossible to resolve.

It is quite true that applying and getting approved for a business loan is no easy task for any business that has poor credit ratings. With banks, this whole task even gets extremely difficult. This is such a common plight for small business owners but the good news is there is a solution. Thanks to bad credit business loans and other options, almost every small business now has the chance to pick up on its slow growth pace.

There are now several financing institutions that offer this kind of option. What is good about bad credit business loans is they are comparatively faster and simpler than traditional loans. Some providers even offer quick online application. This simply means a business owner no longer needs to be physically in an on office to start processing his or her application for a certain loan. There are even some that can have the application results within 24 hours. Generally, funding can be received within 7 days. And depending on the provider, there are no upfront or hidden fees.

These are only some of the several reasons why more and more business people are resorting to this option over traditional loans. Other reasons why business people prefer this option include the fact that bad credit is not a problem, there are generally no application or closing fees required, and these loans are typically unsecured – so no worries about collateral. There are also small business loans for women with bad credit that are quite similar to this new kind of financing option.

It can be quite helpful to learn more about bad credit business loans today. This financing option might very well be the answer to cash flow problems, as well as to additional business capital requirements.

Get a Free Credit Score from CreditKarma.com

Today their are a lot of websites claiming they have the cheapest credit score, but instead what most of them do is give you the credit report for free and charge for each of the three credit scores.  This is how most credit score websites sites operate these days but their is one that truly does give you the free report and score and that is Credit Karma.

First off Credit Karma offers you a free score and report up front.  The score and report comes straight from Trans-union completely free.  With any other credit website you would have to pay for this info but they do much more than this.

They also grade you on each area of your credit report, such as open credit utilization, percent of on time payments, your average age of open credit lines, your total accounts, and any hard credit inquiries you may have received.  On top of grading your credit they also show what to do to fix your credit issues and how to improve your score over time.  This is real value that most credit websites just don’t offer.

Next you can also compare your credit against other to see how good it really is.  For example you can see how good you compare against people in your same age bracket, or how you compare against those that live in your state, or community.  The benefit behind this is when you know where you stand it’s easier to see if you need improvement or not.

Finally, the last great thing about Credit Karma.com is that they have a credit simulator.  This is a great tool that allows you to test different ideas against your credit, such what would happen to your credit if you opened a new credit card, or took out a new loan, or closed your oldest credit card account, or even worse filed bankruptcy.  By doing these things you can see how your credit would react.

In the end to find a cheap credit score all you need to go is go to Credit Karma and get it for free.  To get started go to Credit Karma.com today and open a free account and start improving your credit today.

For Mortage Refinance Leads Try the Web

As a person in the mortgage industry, the time inevitably arrives when you need to increase business through the use of leads. When you reach this point, you better have a solid plan in place to take advantage of the potential prospects.

Contrary to popular belief, it is definitely possible to generate leads for no cost. You just have to be proactive and look in the right places.

Forums
A forum is a hub online where like minded individuals meet and communicate with one another. There are literally thousands of online forums on many topics including mortgage. Your job is to find forums where individuals who are looking to buy a home spend time.

A great way to find a forum is to Google: mortgage refinance forum. Implementing this search will yield the forums of mortgage refinance leads. After you’ve found one you like, create an account and begin interacting with the members.

The key here is to NOT push your products on members. At least not right away. Doing so will turn off members and may get you kicked out. What you need to do is provide value and establish yourself as an expert.

Look through the threads (topic titles) and look for people asking questions or running into problems. Answer their questions and genuinely help. After a while, you will be seen as an authority.

While you shouldn’t tout your business overtime you get, you should include a mention of your business in your bio line which appears at the bottom of your forum messages.

By providing unique value, leads will come to you. You will have gained credibility and most importantly trust. Once that trust is established you can take the tep of converting those leads into customers. Taking this approach is a long term strategy, but it will pay for itself in time.

Numerous Ways to Clear Debt

Many individuals find it difficult to avoid a transforming debt into wealth scam, and this is especially true for those who have a lot of credit card debt and other similar obligations. People who target consumers for such scams typically tell them they can become wealthy if they allow a third party to talk to the credit card companies on their behalf. Anything that seems too good to be true probably is, and people in the aforementioned positions should think carefully before becoming involved in such a venture. The best way to find out if something will actually work is to inquire about it from those who have already participated in the program and can subsequently speak from experience. Many individuals have had past debt problems and have found a way to change their luck by obtaining help from those who can offer clear debt solutions rather than false promises. Many lenders will agree to work with those in debt if they see that they are willing to attempt to pay.

A transforming debt into wealth scam might claim that a person can get wealthy from the aforementioned venture, and while this is not entirely true, there are advantages with certain companies that can work in one’s favor. It is always in one’s best interest to have a representative fight on his or her behalf and make negotiations with the credit card companies to which the money is owed. This liaison person will work to discover the amount of money for which the credit card company or other lender is willing to settle. If one has an amount in mind, he or she can use this service in order to assist with shrinking the overall amount that is owed. Outstanding debt affects the profit of credit card companies and it is for this reason they are willing, many times, to settle for less in order to recoup at least some of what is owed. However, it is best for one to hire an experienced person to help them deal with such negotiations. The best way to eliminate debt is to take advantage of methods that have proved successful for others.

Getting a Good Deal on Private Personal Loans

It is rare to find someone who can pay for everything they need upfront and this has led to the regular use of private personal loans. They allow an individual to pay for something that they cannot afford in the short term and spread that cost over a longer period of time. Many people use this kind of lending to pay for a new car, a luxury holiday or even to pay an unexpected maintenance bill.

When looking for a loan like personal quick loans there are a number of companies that are vying for your custom. The banks are the first port of call and offer the widest number of products but also the highest rates. Finance companies are the competitors to the banks and while their rates are often lower they cannot offer the range of services the bank does. There are others willing to offer you loans, any online search or glance at the phonebook will show a wealth of choice.

The consumer has a number of considerations when taking out private personal loans. The first is to find out what fees they are to be charged for the organisation of the loan. The lender will not always volunteer this information so make sure you check. Before taking a loan it is also wise to read the contract. The terms and conditions as they will tell you of any extra charges the company will take. It is sometimes the case, in particular on bigger loans, that the lender will want collateral on their investment. This means they may be able to repossess your car or home if that is the item they have asked for as a guarantee against the money borrowed. This information can be found in the terms and conditions of the loan.

A final consideration is to decide how much you need to borrow and not accept more if the bank or finance companies offer it. Sometimes they will inform you that you can borrow more but unless you need this money remember that you will still need to pay it back. Private personal loans are a good solution to short term needs but always remember that you will be paying it back overtime and that commitment can hold you back from other activities.

Guaranteed Loans with No Credit Check

There’s only one reason you don’t want lenders checking your credit as part of a loan application – your credit stinks. Really bad credit guarantees really expensive loans.

So if you want guaranteed loans no credit check, you’d better be prepared for the consequences. It’s not an exaggeration to say that taking on this kind of debt could take a bad financial situation and turn into a total personal finance nightmare.

I’m convinced that the majority of people who take out any sort of guaranteed approval personal loan have no idea what it could do to them long term. The interest rates are so high that you can end up paying back two or three times the original loan amount within just a few months. This isn’t a house we’re talking about. It’s an unsecured loan you’re probably borrowing to pay some utility or medical bills.

Even if you are able to pay back the loan on time, this kind of financing has been proved to be habit forming. I read a government report that said the majority of short-term borrowers (ie payday loan situations) use this kidn of financing multiple times.

So let’s say you take out a $1,000 guaranteed approval loan that costs $100 in fees and interest. You pay it back in two weeks. You wouldn’t be out of the ordinary if you did this five times in the course of a year. That’s $500 in interest and fees paid on…nothing! You didn’t borrow money for any kind of appreciating asset. You borrowed money to keep your lights. Yes, you need lights, but they shouldn’t be paid for with a triple-digit interest loan.

How to Avoid this Type of Loan

It’s simple, really. The only time people borrow money this way is when they’ve run out of cash and have pressing bills. The simple solution is to have an emergency fund in the bank. Yes, conventional wisdom say says you should have six months worth of expenses in the bank, but that’s a ludicrous number for most people.

If you maintained a small personal slush fund of even $1,000 you’d probably save yourself from ever having to borrow awful payday loans again.

It won’t be easy to build up your $1,000 reserves, but if you take a long term view you can get there. Work a few hours of over-time. Do some odd jobs for friends and family. You will be amazed how much better you sleep at night with a little rainy day fund in the bank.

Unsecured Signature Loans

Good credit is an asset. You already know it makes home and auto ownership possible, but you may not have considered the fact that your high fico score can bail you out in an emergency. See, the only way you’re going to get unsecured signature loans is with a good credit score and a well-established credit history.

The amount you can borrow, of course, depends on more than your credit score. You could have a perfect 850 Fico and lenders still won’t give you an unsecured signature loan for two reasons: inadequate income and/or excessive debt.

A loan is always extended based on the most basic assumption: your ability to make timely payments. Lenders need to know the new payment created when they give you this loan won’t be the proverbial straw that broke the camel’s back.

First, they’ll look at all your outstanding debts. They’ll weigh your total current payments plus the payment you’d have on the new loan, weight it against your verifiable income, and decide whether you can still afford the additional debt.

Of course, if you have very little debt and a relatively big income, you should have a clear path to a bigger loan.

Be careful. Often the fast track from being a good credit borrower to a terrible credit borrower is taking out guaranteed loans no credit check in amounts you don’t need just because the lender is willing to give them. Interest is a powerful, terrifying financial tool. Get yourself out of the mindset that a loan is fine just because the bank says you can afford the payment.

Develop a mindset of debt avoidance and a habit of frugality and saving. You can’t go wrong.

Can I Get Unsecured Signature Loans with Bad Credit?

Well, no. I guess I can’t say no without qualifying it. I should have said if you have terrible credit the only signature loans you might get are instant decision unsecured personal loans. That’s right – a payday loan with all the trimmings: very short repayment terms (two to three weeks) and crazy fees (often up to $10 per hundred borrowed).

You DO NOT want these loans. If your credit is bad please do yourself a favor and get some kind of secured debt to help you rebuild your credit. You literally cannot afford to borrow many of these payday-type loans. They’ll ruin your life.

 

Georgia Payday Loans: Reasons for Abolishing

Today, Georgia is one of the many states in the America which has abolished and prohibited payday loans. If you think that you might need payday loans in the future, do not live in Georgia. You will never be able to find Georgia payday loans now. Payday loans can be very helpful to people who are in dire need of money to get them through until the next payday. They can be the salvation for people who need money urgently.

However, payday loans are frowned upon today. This is because of the fact that payday loans are very notorious for high interest rates and terms which are only favorable to the lender and not the borrower. Payday loans started appearing in 1920. Today, payday loans are small loans which are unsecured. However, the amount of money you can get from it is very limited. The usual maximum amount is only $1,000. The terms are short and it is only usually 14 days. Payday loans are also regulated by the government and it is a loan which has laws governing it.

These instant approval unsecured loans have a lot of disadvantages although it can help people who are in dire need of money. Payday loans are more expensive than other types of loans. It is crucial that a borrower settle the loan on or before the maturity date. Most people do not know that the annual percentage rate of payday loans is about 400 percent and that is indeed a very big amount compared to other loans. It is also not uncommon to find payday loans with interest rates as high as 5,000 percent. A lot of payday loan companies are also very deceptive. They do not disclose all the information to customers.

A lot of people find it very difficult to get out of payday loans legally because there are so many loopholes. If somebody you know says “I need 3000 dollars fast”, warn them about the possible problems they can face with unsecured signature loans.

No Credit Check Signature Loans

Applying for any kind of loan becomes a bit of a chess match doesn’t it? You and the lender sit across the table from each other – you’re looking to get as much money as possible while sharing as little information and paying as little interest as possible. The lender wants to lend money – as much money as they profitably can. They just want to make sure all that money gets paid back. So whether you want a small signature loan with no credit check or a full blown $5000 loan no credit check, you better know how to put the lender at ease about your ability to repay.

Do you realize you’re asking quite a bit of the lender? You’re saying you want to borrow hundreds or thousands of dollars a) with no collateral or security on the money they’re risking with the loan, and b) you’re hoping they won’t want to take a close look at your credit history and track record of making timely payments on previous debts.

Here’s the challenge: you wouldn’t be seeking unsecured loans no credit check – signature or otherwise – unless you had something to hide in your past borrowing behavior. That’s where things get a little sticky. You tell the lender you’re hoping to secure a signature loan without a credit check, he immediately jumps to the conclusion (and probably rightfully so) that you’re actually seeking a bad credit signature loan. And that may not be a loan his bank is interested in giving.

Here’s the best advice I can give you. There’s one thing you might be able to use to get a lender to offer you a personal signature loan without credit check: a huge pay stub. Actually, a series of large pay stubs. All a bank cares about is recovering the money it lends out, plus a reasonable interest rate. If you can show them you’ve got income that far exceeds the payment that will result from the loan they give you, they MIGHT be willing to let you go without digging into your credit history.

Getting a bank to approve guaranteed signature loans is going to be tough sale because they’re only going to consider the amount of money you make as it relates to all your debt payments, not just the payment associated with the loan they’re about to give you. So you may be back to square one.

Unless…you’re willing to borrow a standard, run of the mill payday loan. All most payday loan lenders require is a pulse, a bank account with direct deposit, and proof of income. But are you really sure you want to go down the path of borrowing payday loans? It’s an awfully slippery slope.

Finding High Interest Loans for People with Bad Credit

The interest rate on any loan is obviously determined by a variety of factors, but you should realize that your interest rate is ultimately a reflection of how risky lenders consider you. In other words, they’re going to charge you interest based on their evaluation of how likely you are to a) make your payments on time, and b) make all your payments until the entire loan has been repaid. The more likely they think you are to make payments late, or not make them at all – the higher the rate they’re going to charge you on the money you’re being lent.

With all that understood, you can see why high interest loans for people with bad credit exist. It’s not that banks and lenders won’t lend to people whose credit is in bad shape; it’s just that those loans are going to come with much steeper rates. There are a few different kinds of instant decision unsecured personal loans with high interest rates for bad credit.

Guaranteed Personal Loans with High Interest Rates

Guaranteed loans typically come in one of two varieties. The first kind of guaranteed loan is one where there’s no real qualification process. Basically if you have a bank account and a steady income (which gets directly deposited), you can get one of these loans. The other kind of guaranteed loan is one where a friend, family member, or community organization guarantees the repayment of the loan on your behalf. By doing this they’re vouching for you as a person, letting the lender know you’re going to make all your payments in spite of the fact that you haven’t behaved very well with your credit in the past. The lender doesn’t really care about whether you’re going to make your payments because your co-signer has guaranteed the loan.

High Interest Unsecured Loans for Bad Credit

Getting unsecured loans when you have bad credit is going to be tough. With no security on the loan (collateral, on other words), the bank is fully exposed to the risk of non-repayment. The only way they can reduce that risk is by charging up front fees on your loan as well as an extremely high interest rate. Essentially we’re talking about payday loans, one of the most abused and hated personal financing tools on the market. Effective interest rates on these loans can run into the triple digits because people don’t typically pay them off on schedule, which means the lender keeps re-setting the interest schedule. These loans, if misused, can ruin a person’s finances and set them back years in trying to rebuild their credit.

It is crucial that everyone who ever borrows money think very carefully about what they’re doing. It doesn’t matter whether you’re getting low interest loans with good credit or high interest loans with awful credit – all reckless borrowing can wreck your life, cause you to lose sleep at night, and damage your relationships with those closest to you. Learn to budget your money; avoid debt whenever possible, and put yourself on a path to financial peace of mind.

Erasing Bad Credit is Possible – Sort Of

There are so many reasons you’d want to erase bad credit – some of them are financial (because you need decent credit to borrow money for important things like houses, vehicles, and education), and some of them are personal (because let’s face it…having terrible credit is embarrassing – it makes you feel like a second class citizen). Advertisers know how desperately people want to be able to repair their credit, and saying “you can absolutely make all your credit blunders disappear!” has a lot of appeal in the marketplace. There’s only one problem: it’s just not true.

The FTC (Federal Trade Commission) has come right out and said that it’s actually not possible to get bad credit erased completely. Your best hope is to go through the normal process of cleaning up and repairing your damaged credit. Basically, there’s no quick fix, no matter what the advertisers would have you believe.

You might read that and say “But I thought I could dispute incorrect information on my credit report and get it removed?” Yes, you definitely can. But just the process of disputing a blemish on your credit history won’t make it disappear. The only way to get something completely erased from your credit history is to dispute it, which leads to an investigation, which if successful gets the negative item removed by the various reporting agencies. It’s a relatively long process and requires plenty of follow through and follow up on your part. There is no guaranteed the credit bureaus will do this though. Which takes us back to the advertisers and their promises.

You should be fully aware that no matter what a credit repair company tells you, they can’t force or require the credit tracking agencies to remove anything from your credit report at all. Of course they’re going to make such claims…how else would they get you to pay their fees if you didn’t believe you were guaranteed to get a great result?

The fact is that erasing a bad credit score is really difficult, but it doesn’t have to be expensive to go through the credit-repair process. If you contact the FTC and ask them about non-profit credit clean-up organizations they’ll direct you to those with a proven track record of getting people’s credit in the best possible shape without having to pay really high fees.

Do your homework, and resist the urge to look for a quick fix. The more you look for a quick fix the more likely you are to fall prey to hyped up advertising that will cost you way too much money and not even deliver the improved credit score you need and want.

Auto Loans for People with Poor Credit and ‘Repos’

Is it possible to get an auto loan after a repossession?

Yes, it’s completely possible. Depending on the dealer you’re working with it could be very easy or very hard to get car financing after you’ve had a car taken by the bank. Ironically, the easiest lending situations won’t always be the most desirable for you. Let me explain:

Certain car dealerships – usually those with the somewhat homemade looking banners hanging on the front of their office that say “everyone is approved!” – should be avoided like the plague. Here’s a quick glimpse into how they operate: first of all, they take used cars of questionable dependability and they price them something like 20% above their bluebook value. Then when you come into look at cars, they tell you you can be financed as long as you can put around 20% down. See what’s happening there? You’re paying cash for the 20%, unjustified markup, which means before you ever make a single payment you’ve already given them a really nice profit on the car.

This is why getting no credit check auto loans with repo can be so risky. Once you’ve made the ridiculous down payment they’re going to tell you that they’ll finance the remaining amount at something like 23% to 25% interest. So now they have your 20% down payment and you’re on the hook for high payments at a ridiculous interest rate. These dealers aren’t stupid – they know your track record with making payments. They know there’s probably a 50/50 chance you’ll start missing payments, which means they’ll come repossess the car. So they take the car back, keep your down payment plus any additional payments you’ve made, and then wait for you to come into to plead your case.

This is an almost no-lose situation for the shady dealer who’s offering to finance a car after your repossession. One of three things will happen:

  1. You’ll come into the office, get current on your payments, take the car, and keep making payments at the 25% rate.
  2. You’ll walk away from the car, which lets the dealer keep all your money and then resell the car to some other poor credit borrower.
  3. You’ll decide that car was too much for you to handle financially, so you’ll make a new down payment on a different car, and start the ugly cycle over again.

Do you see how it would be best for you to avoid this whole situation in the first place? It’s going to be much safer and smarter to work with a dealer that actually cares about its reputation. The terms of the auto financing after a repo may not be much better, but they’ll have less desire to treat you poorly.

Legal Credit Card Debt Elimination Programs

I can tell you from personal experience that getting buried in credit card debt is one of the most awful feelings you can ever experience. It really feels so hopeless. Once you get to a certain point with your debt – say above $15,000 or $20,000 in credit card balances – and you have this realization that you basically need to win the lottery or inherit money from a rich uncle you don’t know about if you ever want to be free of your debt again. Not much could be worse, and once you get in that situation you may find yourself seeking legal and ethical credit card debt elimination.

It’s a bit of a misconception that there’s some form you can fill out, some government program, that will let you get rid of your credit card debt without any negative repercussions for you. That wouldn’t be fair to the credit card companies. So, if you want to legally eliminate credit card debt it’s going to come down to a negotiation between you and the credit provider. You’ll be negotiating two things: 1) the interest rate they’re charging you on your unpaid balances, and 2) the manual reduction of those balances.

It’s not a pretty situation, but you’re basically saying to the credit card company “look, we can either come to an agreement on how much I’m going to pay you on these balances, and at what interest rate, or I’m going to have to file bankruptcy.” And you’re not bluffing, so the credit provider will have to weigh out whether they want to reduce your balance and get some of their money (maybe 30 cents to 40 cents on the dollar), or whether they’re willing to walk away from their money entirely. It’s common sense that they’d rather get something than nothing, so they’re probably going to work with you.

There will be consequences for you though. For starters, your credit cards will all be canceled (which may not matter if they’re already maxed out anyway). Even worse, your credit score will be destroyed. And that may not be much of a concern because at this point you probably have several late or missed payments and your fico score is in the dumps anyway.

I would ask you this: do you have to go through this process? Have you exhausted all other options? Could you borrow some money from family or friends, use it to get caught up on some payments, and then take on a second job to make it possible to keep up with your debt? I understand you might not be able to do this, but I think as a matter of integrity you should at least try.

Bank Loans for People with Bad Credit

You find me an adult who has never made a single blunder with their credit – not even one late payment – and I’ll show you the tooth fairy. Seriously, life is way to complicated and way too fast moving for a person never to slip up once and send in their car or mortgage payment a couple of days late. And if you’ve had a late payment, you’ve messed up your credit. Down the road when you need to borrow some money you’re going to have to start looking for bank loans for bad credit (also sometimes called bad credit personal signature loans).

It doesn’t have to be the end of the world though. Each year hundreds of thousands of people suffer a few smudges on their credit score, and each year they’re still able to borrow (collectively) millions of dollars. It’s just a question of understanding why banks will still loan money to people with bad credit or even horrible credit. From the banks’ point of view, lending is all about risk and return. Lending money to anyone – no matter how good their credit is – carries some risk that the person might not pay the money back. Banks cover that risk by charging interest.

You can think of interest as being a scale with credit score on one side and interest rate on the other. The higher a person’s credit score, the lower the interest rate the bank will need to charge them to cover their risk and insure the value of their investments over time. On the other hand, the lower the credit score the higher the risk to the bank, which means a higher interest rate. This is why people who want to borrow money from banks even though they have really bad credit will often end up paying upwards of 25% interest – even on something as small as a $1500 loan. People scream and whine that this isn’t fair, and in some cases maybe the bank is trying to take advantage of people, but the mathematical reality is that banks have to charge high interest to poor credit borrowers just to make sure they can stay profitable and stay in business, period.

So, if you have awful credit but you still need to borrow money from the bank, here are some thoughts on how to maximize your chances of getting approved:

1. Go through the loan approval process in person, face to face with the bank’s representative. I know it’s much more convenient to browse through the major lending websites looking for a quick loan, but you’ll almost never get the best deal by filling out a form online. When you meet with a loan officer in person you have the chance to be very up front about your circumstances. Talking with you face to face will make them want to work on your side to get the loan done.

2. Don’t be afraid to negotiate the terms of the loan in spite of your bad credit. You need to think of this loan as an opportunity to rebuild your credit, and if you’re going to make your payments on time those payments need to very easily fit inside your monthly budget. If they’re going to fit inside your budge the interest rate needs to be as low as possible, which is what you’ll have to tell the bank rep as you iron out the details of the loan.

When all is said and done, please make your payments on time and work to manage your money a little better so you don’t end up needing another one of these loans in the future.

A $5,000 Loan You Can Actually Qualify For

Since late 2008 it’s been a pretty tough proposition to qualify for any loan – whether you’re trying to buy a house, a car, new furniture, and even if you’re just trying to borrow a little cash to grease the wheels of your family’s finances for a week or two. But guess what? For the right kind of borrower, bad credit personal loans 5000 are not only possible, it’s probable. Banks got very very tight with their funds over the last year or so, but now that the nation seems to think it’s in some sort of recovery they’re starting to let the money flow a little more. Of course, they’re not handing it out to just anybody, especially not if you’re looking for a multi-thousand dollar loan.

Getting a $5000 loan no credit check, or any kind of loan for that matter, starts with your credit score. I hate to break to all of you whose credit took a total nosedive in the last year or so – banks don’t want to lend money to people whose credit scores don’t start with a ’7′ these days. But if your credit score is above 700, then a good credit $5,000 dollar loan is well within your reach.

Here are a few other criteria you’ll need to meet before you can borrow this kind of money: a steady income you can prove with real documents – that means check stubs or tax returns and a debt to income ratio that doesn’t make the bank queasy. They’re pretty adamant these days about people not borrowing money if the additional payment is going to throw them into financial turmoil, cause them to miss mortgage payments and every other payment, and thus lose the lending bank – and quite a few other banks – big sums of money.

We should also make it very clear right here, right now, that there really isn’t such a thing as $5,000 loans with no credit check. Well, I guess there is one loan of that nature – it’s called hitting up your Uncle Rick and/or your cousin Skippy for the money. If they’re not giving it to you, you can rest assured no bank will touch you either.

In the end, this kind of loan is like any other – it will come easiest to people with good credit and high incomes – in other words people who don’t generally need to borrow money. Your goal, then, is to become a person that doesn’t need to borrow money. As soon as you accomplish this you’ll have banks falling over themselves to give you any loan you want.

Bad Credit Military Loans

It’s no secret that enlisted members of the armed forces don’t make too much money. Some would even call it laughable, that is if they didn’t see all the perks of military life. You know, things like free housing, great medical care, a solid pension plan and so on. But those perks don’t always cut it when you have some kind of emergency cash needs and your only option is to turn to bad credit military loans. Fortunately there are companies who recognize that a member of the US military deserves a little bit more consideration than just judging them based on their fico score.

Quite a few online lenders offer loans for military members with bad credit. When you actually go through the application process you’ll find that they want to see all the normal information that would be requested by a traditional lender, including:

Name, Social Security Number, birthday, email address, home address, phone numbers, number of dependents in the home, rent or own status, gross income, and take-home income.

But for military members they’ll actually take it a step further and ask you for your military branch, rank, where you’re stationed, etc.

There are a few stipulations you should be aware of if you’re seeking bad credit military personal loans, such as:

1. Residents of certain states are not eligible for these loans (specifically CA, FL, WV, GA, and NV). This is due to the fact that certain states prohibit special lending practices for members of the military. Seems unamerican to me, but I don’t make the rules.

2. You can’t be on your way out of the service when you apply for the loan; you must have at least a year and a half of active duty left on your contract. This is obviously because we don’t want it to be possible for non-military citizens to enjoy the same benefits as military borrowers.

3. Although your military status helps, your credit score will still be a factor in whether you qualify. Yes, you can get a loan with bad credit, but the terms aren’t going to be as favorable for obvious reasons.

If you can meet all these criteria, and properly fill out the application, you’re on track to get the short term funds you need. The lenders I researched were willing to lend anywhere from $1,000 to $3,000, with repayment periods of up to 12 months. That’s actually quite a bit more favorable than terms offered to non-military borrowers, who often can’t borrow more than a few hundred dollars and have to repay within a matter of weeks.

Understanding Your Online Mortgage Application Form

I’ve been through the mortgage approval process several times now, and each time my mind is boggled at the amount and complexity of the paperwork one has to fill out before the bank will turn over the funds so the seller will turn over the keys. In particular I think there are a few aspects of the typical online mortgage loan application that all but guarantee you won’t be qualified for the loan, so I wanted to take some time to make them a little more clear to you. In now particular order, here are some of the terms on your application that may make it a poor use of your time to fill out the form at all:

On page 3 of the application you have the following questions:

a. Are there any outstanding judgments against you?

Judgments, of course, mean that you’ve been party to some kind of litigation and lost. Or, that you’ve been found liable in some kind of accident (or some kind of non-accident if you know what I mean) where the courts have ordered you to pay a certain amount of money as a penalty for something you did. Having judgments on its own might not knock you out of the running for a home loan, but it’s definitely not going to make the process easier.

b. Have you been declared bankrupt within the last 7 years?

I suppose if this one applies to you then you already know that you’re going to have an uphill battle when applying for a loan. Again, if you’ve had a bankruptcy within the last seven years it’s not necessarily impossible to get approved, but it’s certainly a big black smudge on your mortgage loan application. Most people who’ve filed bankruptcy will already have researched their options when it comes to getting a new home loan or refinance after a bankruptcy.

c. Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?

Boy, that’s being blunt isn’t it? What they’re asking here is “have you been a good boy or girl with your previous home loans?” And notice that they don’t just ask if you’ve had a foreclosure. They also want to know if you’ve given title or deed in lieu of foreclosure, which is to say they want to know if you all but got foreclosed on and managed to dodge it at the last second. If you have to answer yes to this question, qualifying for a decent loan is going to be tough.

d. Are you a party to a lawsuit?

Why do they care? Well, it’s a funny about lawsuits…when one person wins and the other loses, money is going to change hands. And if the loser doesn’t have the money, they’re looking at liquidating assets and/or filing for bankruptcy. So, with this part of the online mortgage application they’re trying to say “Okay, under your current circumstances you qualify for this loan. But if you’re being sued and you lose – which means you have to file bankruptcy within the next few months – we want no part of you.” So if you’re in the middle of a lawsuit the typical mortgage underwriter is going to turn tail and run from you. Sorry.

So those are some of the ‘red flag’ questions you’ll have to answer as part of your mortgage application online process. If you have to answer yes to any of them, work with your loan officer to see how you might be able to still get your loan.