Archive for October, 2009
October 31st, 2009 at 12:00am
Under Poor Credit Questions
Question:
Do most small bank branches offer poor credit secured loans for little items?
Do all bank branches offer secured loans with items such as cars? My checking account is at a small town bank composed of only three branches.
I need five thousand dollars, which is about the blue book value of my car which was paid off in 2003.
I need some cash right away for surgery not covered by insurance. I have poor credit between 595 and 645 and got turned down for all the financing and loans I have sent applications for online. No one in my family is willing to co-sign a loan, except for my mother and father who are retired. However they do not really believe in credit and thus have no credit score. They live minimally but don’t own their own property.
Would anybody know if I’m likely to obtain poor credit secured loans at a small bank with this circumstance, me with solid employment but a poor credit history and offering vehicle title as security, co-signing with a mother and father who have income but no credit history?
Will I be less likely or more likely to get one if I go to a larger bank like Wells Fargo or perhaps Chase?
Also, I’m already working towards repairing my credit rating but it will take quite some time.
Answers:
If you do not have the money to pay for the plastic surgeries, you should not have went for them.
Save money first, then purchase things.
You may find a bank that will give you poor credit secured loans on a vehicle title but will not allow your parents to co-sign.
If they are not going to loan you money without a co-signer, then perhaps wait until you have money for the surgery. If you will get sicker if you wait, the hospital will go through with it on credit and you can pay them back in payments.
Do not allow your parents to co-sign for anything because it is very damaging to them. It may even ruin your relationship with them.
By admin
October 30th, 2009 at 12:00am
Under Poor Credit Questions
Question:
Are there any genuine poor credit lending companies out there for people with bad credit?
Where can I search for legitimate lenders that would be willing to lend money to a borrower with a poor credit history and rating on their files? I have recently been the victim of a greedy ex-spouse that has ruined my credit.
I really do not wish to be vicitmized again by a shady lender locater company.
Answers:
Citi finacial is one suggestion, but the real problem is are there any poor credit lending companies giving loans right now specifically to people with poor credit? The reason is that just because they are not covering it any longer, we are still headed for a big recession.
Many of the lenders are not issuing money to individuals with poor credit and are not practicing poor credit lending unless you own a home or have some other kind of collateral! Why don’t you try to get your credit repaired? Obtain your credit report and point out what items are old, outdated and duplicates and get them taken off by sending letters to the credit bureaus. Then settle on the existing collections that you are not able to get deleted to clear up your credit report. Pay your bills on schedule regularly every month to start repairing your credit report.
If you have a membership at a credit union, go there and tell them your situation and they just might be able to help you while excluding the extra fees and big interest rates.
If you honestly want to protect yourself, try to avoid the internet and go into a respectable bank, explain your circumstances to them and see what they say.
Credit is now tight these days since lenders made too many loans to individuals with questionable credit. Sadly, not everyone with poor credit deserves that label. Best of luck!
By admin
October 27th, 2009 at 12:00am
Under Credit Cards and Bad Credit
Question:
I am searching for a credit card that will re-establish my poor credit minus all the fees?
Most of the credit cards I looked into require all kinds of fees. Setup fee, maintenance fee, and so on. I am searching for creditcards for poor credit without so many fees.
Answers:
Capital One issues creditcards for poor credit or no credit. The credit card does not have any annual fees. I obtained the card when I was still in high school and I did not have credit established. I have never been charged fees so far. I believe they will only issue a fee if you are late (which I’m guessing you will not be late since your using it to repair your credit, correct?) I believe capitalone is real easy to use and pay nicely since you can set your account up over the internet and pay on it for free.
Just go to their website and you can get a card for you.
Hey, that is how it is. If you have bad credit, you pay more since you are more of a risk. Most creditcards for poor credit from $300 to about $500 leave you enough room to spend $150 to $200 dollars if you get one, but at least you would be able to slowly re-establish your credit rating. Or if you pay back your debt, your credit score will go up into the decent range after around two years.
By admin
October 27th, 2009 at 12:00am
Under Cars and Bad Credit
Question:
Purchasing a car poor credit but high income?
I currently have poor credit that is under 600. My husband and I would like to get a new car.
I make over 50 thousand per year and own a home nearly outright but we have bad credit. He has a score of around 680, but he has a small income. We currently share accounts. Do you believe that together we may finance a new car poor credit?
Answers:
Yes, purchase a used car that’s nice, about one or two years old. Have your husband sign first on the auto loan with you as a co-applicant. Make a down payment. Your income combined with his decent score would help a lot. I would speak to your bank or credit union beforehand see if they can accept you together. Many dealers will have to apply a higher rate than if you were preapproved.
I do not think any prime lender will approve your loan for a car poor credit. In the current market, a co-signer is not going to help someone with poor credit, only people with no credit. A subprime loaner will take a long, extensive look at your husband’s stability before it chooses whether or not to fund it. 680 is just at the limit with them currently. However, the biggest downside would be your credit history. Since even with subprimes, co-signers would not be of much help to a person with bad credit. After all, check out how many subprime lenders have closed up lately due to poor loans.
Partners too has a bad effect on lenders. Whether it is in business or with love, either relationship can quickly fall apart which usually means a person will let the loan descend into default, particularly if it is business seeing as so many are going under these days.
You might get bought via a subprime lender. And if you are, brace yourself for a very steep rate on interest. Many loans through them begin at 15.9% APR. That basically means a lot of finance charges across the term. And they now need enough down to place them in an equity situation. Based on the vehicle, that can equal up to 30% of the selling price.
None of this is really positive news. However, it’s the reality of the critical economic crisis we are in.
By admin
October 25th, 2009 at 12:00am
Under Loans for Bad Credit
Question:
Information about a loan for people with bad credit?
I am a tenant and am trying to get loan for people with bad credit for about a thousand dollars, perhaps a little under but i need it as soon as possible. I have really poor credit; however I have only defaults, no CCJ or bankruptcies. I require the loan over a short length of time. I have tried to get one from providential but I was unable to get one due to just moving to a new home.
Answers:
The last thing you need is a loan for people with bad credit.
Bad credit brings bad credit, it’s a vicious cycle.
Lexington Law Firm is the most reliable credit repair company on the planet. They get rid of all kinds of bad credit such as charge offs, collections, repossessions, late payments, tax liens, bankruptcies, foreclosures, judgments, and others.
After going over your situation, there are two things that come to my mind. One is Unsecured Loan and the other would be a Payday loan. Both are available to you even if you have a poor credit history. Do not worry about that. But if you need loan as soon as possible and only for a short period of time, I feel you should go for a payday loan. They seem to meet to all of your requirements.
how about going to Mutual? I have an account with them and they are a great company. I discovered that provident interest rates were way too high, and I believe that’s important when you require a short time loan. I hope this assists you.
You can try to apply on the internet at http://www.e-paydayloan.co.uk to get a quick payday loan and get $1,000 within a few hours, directly deposited toward your bank account.
Poor credit isn’t a problem. There are no credit history checks.
Go to http://www.e-paydayloan.co.uk/apply.html. It is easy. I already borrowed a loan with the same company.
By admin
October 25th, 2009 at 12:00am
Under Cars and Bad Credit
Question:
What are the possible bad credit auto financing options we have?
My husband and I are having a child soon and we have to get a vehicle with more than 2 doors. As a result of a job loss and the following reduction in income our bad credit is seriously banged up which is the bad news. Luckily, we in a good situation again but the past credit issues continue to hurt us.
I have done some looking, but everything that I have seen seems pretty shady. Are there any legitimate bad credit auto finance options available to us?
Answers:
You could consider getting a less expensive used car until you credit score improves.
But if you require a new car I would suggest consulting with Saturn. They allow you get a sub-vented rate for customers on new vehicles for customers with some credit problems. They have a 9.9 percent APR for sub prime customers and their cars are more affordable and have five star safety ratings. You have children to be concerned about. Good luck.
You could check out the automotive financing forum on the internet website I have listed.
Many individuals that ask questions in that site’s forum are going through similar cases. There is some good advice on how to handle banks, car dealers, what lenders deal with borrowers with bad credit or low income.
There is no advertising on that site. It is purely information and advice only, nobody will try to make you to do business with them. Spammers that try do that are kicked off that site very quickly.
Furthermore, check out the credit message board. Do some research and learn how to handle with those people.
http://creditboards.com/
By admin
October 22nd, 2009 at 12:00am
Under Cars and Bad Credit
Question:
Has anyone ever been approved auto financing from a bad credit auto financing website?
Which internet site was it? How poor was your credit? Our car was destroyed and insurance was able to pay it off. My wife has horrible credit and has been rejected everywhere. I have too little credit and also have been rejected. I desperately require a vehicle.
Even with poor credit you still have a good chance of getting bad credit auto financing as long as you have a steady occupation.
You have to be really careful will whom you choose on the internet. Please check out the following website, they are special finance specialists. I know you will get all your inquiries answered and even apply for a loan if you would like. Best of Luck!
www.autocreditexpress.com
Answers:
If you cannot get a co-signer or get a loan from family or friends, you may have only one option: a buy-here-pay-here used auto dealer who finances his own loans. They specialize in bad credit auto financing.
On the other hand, you should know what you’re getting yourself into if that is your choice. BHPH dealers sell vehicles that are overpriced, may request a high down payment, charge the steepest interest rate allowed by your state usury laws, will put you on a strict biweekly or weekly payment plan, and will install a starter interrupter device on the vehicle (and maybe a GPS locator). If you are tardy with one payment by one single day, the car won’t start. If you miss a single payment, the car is immediately taken away and put back on the sale lot. You might or might not still have to pay them money at that point.
If you agree to go with the BHPH dealer, check them out with your regional Better Business Bureau, which has a website, know the correct value of the car (www.kbb.com or www.nadaguides.com), and obtain a CarFax vehicle history report — and make sure that all your payments come in on time.
Best of luck.
By admin
October 21st, 2009 at 12:00am
Under Poor Credit Questions
Question:
How can I obtain poor credit financing for a motorcycle?
I have bad credit but I can afford motorcycle payments with my income. Would anyone know where I could obtain poor credit financing to purchase a motorcycle?
Answers:
If it is a brand new motorcycle, your dealer will get some sub-par lenders he could set you up with. Be ready to pay about ten to twenty percent down, and you’ll get slammed with an interest rate somewhere between 15 to 20 percent.
However, the good news is that you will have a motorcycle.
By the way, do not forget your insurance. You’ll need to secure full coverage if you’re financing the motorcycle. Your best chances are with Progressive, Dairyland, or Geico for insurance.
You do not, you pay in cash.
If you are a poor credit risk, why is anyone going to want to finance you for a motorcycle, that you could possibly get killed on and never repay the debt?
The one way you would get a finance company to purchase the bike, is to get an insurance plan that will pay for the loan if you are killed.
Apply for a bank loan to pay for the motorcycle. It will save you on your insurance too.
Let me teach you how to get poor credit financing.
The down payment is extremely important. You know about the ads: no credit required, we’ll finance anyone.
Well, just as long as the down payment is large, anybody will finance you.
Get a loan shark. Actually I mean company that focus on securing loans for vehicles. These are generally higher interest rates, but once you get a foot on the ladder you might be able to switch to a company charging less interest.
Find somebody with decent credit to co-sign with you. Somebody with good credit.
By admin
October 21st, 2009 at 12:00am
Under Loans for Bad Credit
Question:
What kind of bad credit financing can a person get for career training?
What kind of bad credit financing can someone obtain for career training if the school doesn
By admin
October 21st, 2009 at 12:00am
Under Loans for Bad Credit
Question:
How about loans for people with poor credit?
I am searching for a small loan (about $2,500 dollars) but my credit is bad and I have been rejected by my credit union. Any recommendations?
Due to health conditions between my spouse and I over the last couple of years, our credit rating is in the tank. I got a stroke and my spouse has had four cancer operations. We have too many payments and not enough funds to pay them all without some method of consolidating. Can I get loans for people with poor credit?
Answers:
You’re right, you should never be judged all because you have poor credit, and I would recommend you keep searching. There still hope that you can obtain a loan from somewhere.
I would also suggest prosper.com. It requires a lot of work and effort but if your credit is not too poor they will assist you. They also report to one of the three credit bureaus.
You need to quit borrowing and begin paying. Loans for people with poor credit will only make their problem worse. You question is the most frequently asked one on here, which must tell you something. I do not want to be harsh, but you have to go in the other direction.
Best of luck to you! lenders are not willing to take any chances anymore. Try going to credit counselling service. They will work with your lenders in lowering the monthly payments and interest, and also rebuilding of your remaining accounts like credit cards, forgiving the delinquency. You usually issue one payment to the credit counseling service company, and with that, they pay all of the creditors to which you owe that are on the plan. I hope this will help you.
By admin
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