Archive for May, 2009
May 31st, 2009 at 12:00am
Under Cars and Bad Credit
Question:
How would the auto bad credit or no credit sales operate?
I wish to get a car but have poor credit, how do these auto sales work where they say bad credit or no credit?
Answers:
They issue their services to high credit risks by increasing the selling price and interest rates on their loans .
For instance, they can sell a $5,000 car for ten thousand and require a $4,000 down payment and an interest rate of twenty percent. In this situation, they only need to collect payments of a thousand dollars to break even on this deal.
If you do not make the payments they can take away your car and you would lose your down payment. If you follow through on the payments, they maximize their own profits .
It basically means they are willing to deal with individuals with auto bad credit scores. It also means that you’ll have to give them a premium, which is basically a higher interest rate.
it means they will likely issue you a loan, but they will ask for large down payments or charge you with a really high interest rate.
The answers given by others are correct on how the auto bad credit sales work, but I simply wanted to add that your best situation would be to get your credit repaired. I used to have poor credit, too. I worked with a bad credit repair company and were able to get it cleaned up. The process takes a couple of months, but the result is incredible. Check out the internet website of Unified Credit Services, as they are the company that I worked with and suggest you go with.
By admin
May 29th, 2009 at 12:00am
Under Loans for Bad Credit
Question:
Options for Bad Credit Debt Consolidation?
What are some typical options for debt consolidation if your credit is poor?
Answers:
This depends. If you’re a homeowner, you could refinance to consolidate (in the existing market your rate may be pretty ugly) or apply with HFC, American General or Beneficial to set up personal unsecured debt consolidation (if you do not own a home).
Many if not most bad credit debt consolidation companies are not worth the expenses that they’re going to slap you with. If you can acquire the money to pay such fees, you have the money to put in the regular monthly payments on your credit cards. These companies will suggest to you not to make payments toward the companies for a few months and then they will try to consult with the companies and negotiate for lower rates and payments on your behalf. Essentially, nothing you cannot take care of on your own Credit card companies are not going to consult with you for a payoff until you are many months behind on payments.
A number of people will recommend trying to get a bad credit debt consolidation loan (which you probably won’t qualify for with a bad credit score) or also a home equity loan. On the other hand, if you haven’t addressed the larger problem (debt is usually not the problem, it’s the symptom of a bigger problem) you’ll eventually discover yourself to be right back in the situation you’re in now.
Do not spend more than you earn. Pay in cash for all things you buy.
By admin
May 26th, 2009 at 12:00am
Under Bad Credit Questions
Question:
Where to get student loans with bad credit?
Does anybody know where one can get student loans with bad credit?
Answers:
The FAFSA is most likely your best solution. www.fafsa.ed.gov.
The FAFSA assists you by checking to see whether or not you qualify for grants that you do not need to pay back and student loans with bad credit. Bad credit is not going to stop you from getting a student loan to help you. What will keep you is if you are in default on some other student loan, owe a payment associated with loans or grants that you were not supposed to receive or charged with possessing or selling drugs while you are getting financial aid.
On the other hand, the cost these days with schools is much higher than the loans and grants, so I would agree with the other guy’s answer. Look and see if there are any other sorts of payment plans that you could manage while going to college. Another way that I would not suggest is to apply for a private loan. You will probably have to find a co-signer. Private loans for college are driven by credit, and some you may not have to start making payments on until after you finish school, withdraw or graduate
By admin
May 26th, 2009 at 12:00am
Under Credit Cards and Bad Credit
Question:
Student credit card for poor credit history?
If I have poor credit and a number of late payments in my credit history, can I apply for a student card or a regular credit card for poor credit history?
Does anyone know how late payments affect the choice of a card? Thanks a lot!
Answers:
You will most likely have a harder time becoming approved for a student credit card. Because student credit cards are strictly for students with limited or no credit history, you could be rejected since you’ve already established a bit of credit and made these errors.
However, student credit cards are far more competitive and with fewer fees. Frankly, I would most likely take the risk of applying for the more ideal offer which is a student card. But if you’re concerned about the DENIAL and the INQUIRY in the credit report, you may want to go directly for a credit card for poor credit history.
The choice is yours.
Late monthly payments are one of the key issues in determining the credit score, along with the percent of existing credit you are using. All of these are larger factors than the remainder of your credit history.
If you do not already own a card, apply for a card but look around. The bank you pick for the card is not important so much as whether or not there are any monthly or annual fees connected to the account. The best situation is to get one that is free, but it can be hard to locate with bad credit.
When you get the credit card, and it should only be one, be sure you pay on schedule and keep the balance under 75 percent of the total limit and you will quickly increase your credit rating and heal your credit history.
You don’t require a credit card to do your things. It is possible to live in this world without building debt. Try living on a smaller budget than you earn and make your life more bearable by being debt free.
By admin
May 23rd, 2009 at 12:00am
Under Loans for Bad Credit
Question:
Can someone get bad credit cash loans with no bank account?
I want to get a personal loan, but I have no bank account and I cannot open a bank account. The reason why happens to be a long story of identity theft, but I have come across some emergencies with hospital bills and such and I require a cash loan of about two or three thousand. How can I obtain bad credit cash loans of this amount without a bank account? Thanks for the help.
Answers:
I have met many people requesting information on bad credit cash loans. If you need to get your problem solved with bad credit, you must know to how to tackle it. Of course, even if you have lousy credit, you are able to obtain bad credit cash loans. Many factors can leat to someone getting a bad credit rating, among such factors are non-payment of an account or perhaps late payments over an extended period. check out
http://badcredits.awardspace.com/
You might discover want you want. It’s not hard to be labelled as a bad credit risk by banks and lenders. This will make it more difficult to get loans or alternative finance, and generally means you will have to pay more interest on all loans you take out.
If you have a bad credit score, it is hard to get bad credit cash loans from most banks and financial institutions. Credit is generally available only at a really steep interest rate. Only a couple companies isue loan with bad credit score. Go to this site for details. http://l4y.info/
By admin
May 22nd, 2009 at 12:00am
Under Loans for Bad Credit
Question:
Does anybody know any lender willing to lend 15 thousand for a personal loan for poor credit without a down payment?
Answers:
One of the primary reasons that you are in the position that you are is from making bad decisions. I tell you this because adding a 15 thousand personal loan to your credit is not going to cause your credit to improve. If you are searching for a way to deal with an ugly debt, look into any not-for-profit credit counselling companies. It did not require a short time for you to fall into debt, and it will take a period of time to get out of it. Do not purchase a home (if that is what you are considering) until you have got control over the bills you have right now. Sorry, this is probably not what you wished to hear, but a lot of companies that claim they will give you cash at great rates if you only send them a small sum of money are scam companies that are going to take the little money you give them and run. Deal with the issue and don’t place a bandage over it. If you are in desperate times and cannot afford your bills, look into the option of bankruptcy and start fresh. I!
f you already filed bankruptcy before and are now searching for a way out of more debts, well then you did not seem to learn the lesson of what a bankruptcy is actually for.
You may wish to look at what’s known as “peer-to-peer lending”. Essentially, it removes the bank from the formula, and enables you to borrow from a collection of private users. The interest rates are smaller and a denied loan is not put into your credit report.
By admin
May 19th, 2009 at 12:00am
Under Bad Credit Questions
Question:
Which cell phone plan can I get with bad credit easy?
I currently have bad credit and require a cell phone with a small or no deposit requirement. Are there any recommendations?
Answers:
Possibly your best chance is if there is a Cricket in your region.
You pay higher for the phone, but they do not perform a credit check and have monthly plans available for approximately forty dollars which include unlimited minutes in your home calling region.
Another alternative is Metro PCS. It is basically the same idea.
Of the big providers, Sprint seems to carry the lowest standards, but odds are that if you have bad credit easy, they will need a deposit, which might be over two hundred dollars.
As a third alternative, prepaid phones are the ideal thing to get. There is no credit run, and basic phones run less than 50 dollars and for many of them, a 100 dollar card gets you close to a thousand minutes that may last approximately a year.
Get a Trac-Fone. (You can locate them in any big drug store, in any popular grocery store, or in all Wal-Marts.) They are essentially an over-the-counter product. While you might need to do some programming and charging right out of the box, and occasionally you need to buy cards for more minutes, Trac-Fones are not a bad deal, all things considered. Check out their website.
well verizon will issue you a cell phone but you need to put money down, and then in a month they send it back, but the ideal thing to do is to contact each company because it is all based on how poor your credit is. Therefore, call places like ATT and verizon right now and find out. You should not go with t-mobile because they are the worst company out there, even if they claim they will give you the phone for free, do not go for it.
By admin
May 19th, 2009 at 12:00am
Under Loans for Bad Credit
Question:
How would one obtain a personal loan for Bad Credit?
Hello, I have a poor credit score and I’m in need for five thousand to pay off my creditors so I can repair my credit score. I attempted reasoning with my creditors to reimburse the money that I owe them in monthly installments but they refused since I have been avoiding the issue for some time now, so they informed me that I have to pay them back at least half the existing balance, so now I wish to get a personal loan for bad credit so I can pay them back full and then finance the loan, but I can’t seem to find a personal loan for bad credit anywhere in Canada. Could some one please assist me here, I’m desperate.
Answers:
People with bad credit think that it is difficult to get a personal loans. But there are many financial institutions and banks that issue personal loans for bad credit applicants. Bad credit personal loans are generally desired by persons who wish to consolidate their loans. Many banks prefer to give loans in an incremental order. New customers are issued loans ranging from two hundred to five hundred, depending on their income. You can get more information about personal loans at this site:
http://badcredits.awardspace.com/personalloans.htm
These customers are able to later apply for loans of up to $1,500. Loans of larger amounts can be obtained through secured personal loans. These loans are acquired by applying your property or house as collateral. The interest rates on a secured loan is smaller than unsecured loans. On the other hand, there is always the risk of having your house or property taken away if the loan isn’t repaid.
By admin
May 19th, 2009 at 12:00am
Under Credit Cards and Bad Credit
Question:
Would anybody please recommend a decent credit card for people with poor credit who are on the path to rebuilding it?
Would anybody have first hand good experience with a non-secured or secured credit card company in this respect?
Answers:
If you cannot obtain a credit card due to poor credit, go try a secured credit card. This means your credit will be whatever you have deposited in their account. If you open up an account with 400 dollars, then 400 dollars will be your credit limit on that card. I understand that it is difficult to do when you do not have the money. And yes, I do understand that it does not look like much to work with, but believe me, it’ll help you establish your credit history. Your credit report will not state that it is a secured credit card. Just be sure you keep up with the regular payments. Establish some credit. Soon you’ll have the ability to obtain an account that is not secured. It requires some time, but it will definitely be worth it.
If you have bad credit, it is highly unlikely that you will locate a credit card for people with poor credit that has a decent interest rate. Poor credit means high risk, which means high interest.
Search for a major credit card that doesn’t have an annual fee. You might even need to get a secured card, in which you will deposit a certain amount of money for collateral. Use the card but only purchase what you can pay back in full and on schedule each month. That will provide you with a decent payment history which is the greatest cure for poor credit.
Rebuild credit? What you have to do is find out how to manage your finances correctly. Get on a strict, on-paper budget, and pay in cash for all your purchases. Just as long as you commit to spending less money than you get, you are always going to succeed financially.
By admin
May 18th, 2009 at 12:00am
Under Credit Cards and Bad Credit
Question:
What would be the best credit card for poor credit?
I require something that does not involve sending a check to them beforehand.
Answers:
If you have poor credit the one thing you do not need is another credit card. If your credit poor bad you will not get the best credit card for poor credit with an decent interest rate or start up fee. The ideal thing for you to do is build your credit rating back up. In the meantime, if it is only a visa or mastercard, you will want to obtain a bank account and request a visa or mastercard debit card. Many companies accept these cards as a major credit card, but the main difference is it come right out of your bank at the instance of payment or shortly after.
It is really based on how bad your credit currently is, if you have a number of negatives or just a couple, and what type.
If you have really bad credit, it’s unlikely that you will be accepted for the best credit card for poor credit. Most likely, the best you may get is a secured card.
If your credit scores are in the higher 500 to lower 600 range, you could be approved for an Orchard Bank credit card, but you might need to pay a small annual fee. Orchard, Bank of America and HSBC each have credit card selectors on their own websites. They are not going to make a hard pull regarding the recommendation unless you really apply for a card. Bear in mind that even though a card is recommended, you still might get denied.
If your credit scores are in the lower 500s, I genuinely doubt you would be accepted for anything but a really sub prime credit card that has a ton of fees applied.
You should attempt to work on your credit beforehand. Have your credit fixed up and get prime cards.
Look at the sites that I have listed. It is a no-carge do it yourself credit fixing board.
By admin
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