loans and credit

Looking for personal loans for bad credit?  If your FICO score isn’t as high as you would like it to be, you may be wondering how to qualify for bad credit personal loans.  While some lenders claim that nobody is denied, that is not always true.  Qualify for personal loans for bad credit by choosing the right lender, having proof that you are stable and gainfully employed, and being able to explain any negative items on your credit report.

Choose the right lender when applying for personal loans for bad credit

Not all lenders offer loans to individuals with bad credit.  So how do you find out which lenders are willing to give you a chance?  Ask around.  Do you have friends or fa mily members with bad credit?  Find out who they applied for personal loans with.  This is also a great way to avoid scams, as some companies prey on applicants with bad credit.  Are you a member of a bank or credit union?  Your financial institution is a great place to get a bad credit personal loan.  If you have been with them awhile, they can verify your deposit history and avera ge balance.  If you frequently write bad checks or overdraft your account, this might not be an option for you.

Prove that you are stable and gainfully employed when applying for personal loans for bad credit

Nobody wants to lend money to a person who is unstable, even though those are often the people who need money the most.  Think about it: would you rather loan money to your friend who lives in his mom’s basement and gets fired from every job he gets, or your friend with a small apartment who has spent the last few years working at a fast food restaurant?  Show that you are stable by bringing a copy of your lease, rental agreement, or mortgage documents.  Prove that you don’t job hop by bringing check stubs from the last 60 days.  If you have a history of job hopping, be prepared to explain why.

Explain negative items on your credit report when applying for personal loans for bad credit

When a potential lender views your credit report, he or she already knows that you have bad credit.  What they don’t know is why.  Explain any blemishes on your credit report, and let the lender know what your plan of action is to combat them.  A little honesty goes a long way when applying for loans, especially if you have bad credit.

Personal loans for fair credit ratings are not difficult to obtain, despite what peanut galleries may say. Certainly there are “catches” that come with getting a loan with a lower credit score. It is an unfortunate fact of the lending game. But the person who has a fair credit rating does not have to be stuck with getting a loan from shady outfits.

The Internet is full of options for someone whose credit rating is not all that great. Getting personal loans for fair credit ratings is a matter of doing the research on the background of the lending company. A business that looks good on the exterior may be rotten at the core. Anyone can pay a web designer some bucks and get a good looking website in return. In other words, do not be fooled by the pretty wrappings. Do the homework; look behind the curtains to see what is really there. Search the company name for lawsuits, check to see if the Federal Trade Commission has taken any action against them, and look for negative reviews. If there are none to be found, then chances are excellent that they are reputable and safe.

Having got past the background check of the business, there is the next hurdle to overcome, and that is actually obtaining personal loans for fair credit ratings. Almost anyone with fair or poor credit can get financing of some sort, but it is going to come with a catch. Usually the catches consist of fees and high interest, but there could also be items in the fine print such as a hair trigger cause for suing. Again, research is the key. There are banks out there that will not charge outrageous interest and fees. Keep in mind that the lender is not seeking to stick it to the consumer, but they are looking to minimize their risk. A lender views a customer that has a fair credit rating as someone who has had repayment issues in the past. The lender is going to do what they can to ensure they get most, if not all, of their money back. So expect to pay a higher rate of interest and be wary of fees along with the loan.

When you have fair credit, it may seem frustrating trying to get the best personal loans since many financial institutions may want to check your credit and see if you have any collateral. When it comes to getting one of the best personal loans, you will need to shop around to see what each financial institution has to offer you. Some companies may offer a better deal than others. One thing you can do is to contact your bank that you do your personal banking with. They are one of the best places to start when looking for some of the best personal loans. You are already in good standing with the bank, so they may be able to offer you a personal loan. Find out what type of personal loans they offer and what their requirements are. Some banks offer mainly home equity loans.

Finance Company

If you own or lease a car, you more than likely make your payments to a finance company. The finance company can offer you a small personal loan. Your collateral will be your vehicle. They already have the title to your vehicle. The finance company will either combine the two bills or separate them. If you are interested in applying, contact your finance company by telephone and ask them if you qualify for a personal loan. If you do, they will set up an appointment, so that you can speak with a loan officer. You will more than likely receive the money the same day that you apply.

Go Back to School

This may be an option for you, if you need to get a personal loan without having to deal with a co-signer, credit check, or collateral. You will need to attend a school that offers financial aid through the Department of Education. Once you are accepted, fill out an online FAFSA form. In 30 days or less, you will receive a check in the mail.

All Infographics – Can a latte change the world? Starbucks has had a financial impact on the global economy.

All Infographics – There are a ton of tax loopholes (both business and non-business alike) to take advantage of. If you aren’t already, you’ll definitely want to look into these and apply them.

All Infographics – There’s a lot of buzz around this new law being passed, but just what does it all mean, exactly?

All Infographics – The state of Nevada is most well known for one thing: Las Vegas. Here’s a look at some astounding numbers surrounding both.

All Infographics – If you’re in debt, you may be unsure about what steps to take to get out of it. This graphic will help you, whether you take the debt consolidation route or bankruptcy.

All Infographics – Not just in Soviet Russia, fraud scammers are everywhere. Here’s a look at just how, and how to avoid getting scammed yourself.

All Infographics – If you know how manage your credit score, the yielded crop will be plentiful.

All Infographics – There are 576 million credit cards in circulation in the U.S. today. What’s in your wallet?

All Infographics – Ever wonder how debit cards and credit cards stack up against each other? Here’s a bit of insight to both.

All Infographics – The US isn’t the only country in significant debt. While it may be in the most debt, there are a handful of countries around the world who have their books off balance too.

All Infographics – Inflation + Unemployment = Misery.

All Infographics – We always hear about how trade imbalance between nations is becoming more and more of a problem. Now you can see for yourself just how bad the situation has become.

All Infographics – Loudoun County, Va. Population: 277,433 Median Household Income: $110,643.00 Percent of Residents 25 or Older with Bachelor’s Degree or Higher: 58 Fairfax County, Va. Population: . . .

All Infographics – Though it kind of feels the same… In both time periods banks closed, recovery seemed long and painful, and the general . . .

All Infographics – A breakdown of the pros and cons of all 3 options; charge card, credit card, and debit card, as well as a winner of which should be your go to choice.

All Infographics – 2009 was an AWFUL year to be a newspaper. “40.7: average number of newspaper layoffs per day, including weekends and holidays” That’s only the beginning…

All Infographics – Move over McDonald’s; 7-Eleven and Subway are the new leaders of the franchise world. A look into the top . . .

All Infographics – A look at the top imports and exports for 2008 & 2009. Fluctuations in the American economy between 2008 and 2009 . . .

All Infographics – Is the US economy feeling better? Track state and nationwide changes in unemployment rates, jobs by industry, and foreclosure facts . . .

All Infographics – Comparision of private industry and Government in respect to medical and retirement benefits, life insurance and paid leave. Employment Benefits of . . .

All Infographics – The deceitful actions of credit card companies have been known by many cardholders who were held at the mercy of these banking giants and their screw you attitude. Luckily, as a result of the recent collapse in the finance industry, the government finally took action. With the recent passage of the Credit Card Accountability Responsibility and Disclosure Act, consumers now have new rules working in their favor to protect them against the outrageous fees sneakily imposed by credit card companies.

All Infographics – Get the breakdown on who the United States has bailed out, for how much, and what happened, in this infographic:

All Infographics – Nutritional facts, trends and prevalence of food insecurity in the United States. Food [In]Security in America What is food insecurity? Households . . .

All Infographics – Like overstretched American homeowners, governments and companies across the globe are groaning under the weight of debts. Debt vs. GDP Governments and . . .

All Infographics – Commodity price fluctuations, along with the globalisation of the world economy have led to profound changes that seriously affect the . . .

All Infographics – Breakdown by U.S. state of the highest and lowest tax rates for gasoline, cigarettes, sales and booze. State Taxes in America One . . .

All Infographics – This image depicts the surprising statistics regarding poverty in America. Despite the vast amounts of wealth in the country, there is still a large number of Americans living without the basic necessities. The image includes the percentage of those living at or below poverty in each state, states with the largest number living in poverty, and states with the largest percentage change in poverty rates.

All Infographics – We all know 2009 was a horrible year for everyone financially. This chart shows just how bad it was by illustrating the number of bankruptcy filings by state for the first six months of the year. For the states highlighted on the image, the increase in bankruptcy filings from 2006 to 2009 is remarkable, more than doubling in most instances.

All Infographics – We’re all great at coming up with excuses to justify why we need to buy something. Unfortunately, doing that frequently enough without the cash to pay for the splurging is the perfect way to end up in credit card debt. The above graphic lists the 10 lies that landed you in credit card debt. Additionally, it offers a counter to each lie.

All Infographics – We’re all well aware of the importance of maintaining a strong credit score, particularly in the current economic environment. We also know our government has a history of racking up piles of debt. This graphic combines those two facts and shows us what the credit score of the government would look like.

All Infographics – This map depicts 16 of world’s largest stock exchanges. World Stock Exchanges Of the approximately 100 major exchanges located throughout the world, . . .

All Infographics – The American Time Use Survey collects information about the activities people do during the day and how much time they . . .

Unsecured personal loans may be your best option if you need some money now, and don’t have the collateral to get a secured loan. As with almost any loan, there will be both pros and cons, and it is in your best interest to understand this, as well as some other important considerations.

Personal loan lenders can offer a variety of products, and these, along with fees and interest rates can vary widely from lender to lender, so it is going to be important to do a little digging. The following are some of the things you should be thinking about before you make any decision concerning your loan options:

Personal Loan Rate. There are a few things to consider here. Realize that if you do not have the collateral for a secured loan, you will be seen as more of a risk as a borrower and consequently receive a higher interest rate than someone with collateral. On the other hand, an unsecured personal loan will typically have a better interest rate than a credit card. Of course this all depends on a number of factors, including your credit score.

Credit Score. Do you know what yours is, or what is in your credit report? At the very least you should take advantage of your right to a free copy of your credit report and make sure that everything is correct (credit bureaus do make mistakes) and that all of the information is up to date.

Can You Get Fixed Terms? This is most often an option, and if so you should be able to get a fixed interest rate, but note that this will mean that you must pay the loan back by a certain date. If you are comfortable with this, it may offer you some protection from the financial swings of the economy. It may also help you to resist the temptation to continue spending, which is what credit cards often do.

Tax Benefits? Unfortunately, with unsecured loans, the interest is not going to be tax deductible, as it is with some secured loans.

These then are some of the things to consider when you are thinking about taking out an unsecured loan. You certainly will also want to shop around for the best deal, and using the Internet is a good way to do this, as you will be able to get quotes from around the country, and not just from lenders in your area. When you take the time to research and go about the loan process in an intelligent manner, you will save yourself both headaches and money.

Knowing where to get the best personal loans can save you a lot of money in interest. There are loan companies that are happy to oblige you with a loan, but some have sky-high interest rates. If that is the only way you can get a personal loan, try to pay it off as soon as possible to save money on the finance charges. Make sure the company does not have a prepayment penalty before you even take out the loan.

Finding personal loans is no proble m. There are companies everywhere that want to lend you money. However, the trick is to find the best loan, not necessarily the fastest or easiest one. Knowing where to look helps a lot. Here is a tip for you: The best one might not be the company that mailed you an offer for a guaranteed loan. Look at the interest rate before you contact them.

Where to Find the Best Personal Loans

1.     Banks. Banks are very competitive, and if you have good credit you can get a loan that will not beat you up with interest rates.

2.     Credit unions. Credit unions notoriously offer the lowest interest rates on any kind of loan. You do not always have to be in one that is job related. Some allow people to join who are students, military, veterans and for a variety of other reasons. It is definitely worth looking into.

3.     Personal loan companies with low interest rates. They do exist, especially for people with good credit. You will have to look around and maybe even negotiate the terms of the loan. If you are not having luck with a bank or credit union, consider one of these loan companies; just be sure to shop them well.

It is worth taking the time to locate the best personal loans. You do not want to get trapped into paying high interest. That would mean that your monthly payment is not taking as much off the balance as it would with a low interest loan. If you have enough money to not worry about that, you probably don’t need the loan anyway.

Articles – Personal loans help people pay off debt or pay emergency bills when there are no other options to receive money. . . .

Articles – Personal loans may seem difficult to find if you don’t know where to look. In order to get a personal . . .

Articles – Personal loans are not just for people with good and excellent credit. Individuals with bad credit can receive a personal . . .

Articles – Personal loans on the internet are making the news these days and they are easy to acquire. In fact, it . . .

Articles – Knowing where to get the best personal loans can save you a lot of money in interest. There are loan . . .

Articles – The cost of getting unsecured personal loans is going down; at least, for the time being. Early in 2011 several . . .

Articles – Personal loans for fair credit are available for consumers whose credit is not bad, but it is not that great, . . .

Articles – Personal loan rates have a big impact on whether consumers decide to take out a loan. Some of these loans . . .

Articles – Personal loans come in all shapes and sizes, and they can be used for anything you want or need. From . . .