Folk actually accept the idea of the bad credit money loan. Folk accept that there are particular places they can go to where they can get a loan, an assured deal, and they will not ever be asked about their credit history. Much of the time ( maybe all the time ), such an offer is a con, you can bet. It is a con that goes this way : they guarantee you a loan, but they request that you pay them a charge first before you are granted that tempting loan. They call it by different names – a loan origination charge, a loan insurance charge and the like. It might be as little a sum as a $50 charge, or it may run to thousands of bucks. It all is dependent upon what sort of sum you are attempting to borrow. Naturally, collecting the charge is what they are all inquisitive about. After they receive your money, they quickly start to pretend they do not know you. The very first thing you have to know here is, it’s illegal for any person to charge money for the guarantee of a loan. You will not find one reputed bank out there who makes an attempt to charge fees for loan. Right now, you ought to be starting to suspect the bad credit money loan industry is abundant with crime. And you would not be wrong. Your first clue that there’s some funny business occurring is when they ask you for any kind of money up front. If they term it a charge to test your credit with, that’s OK though . What tips you off this is a valid request is they obviously tell you that they do not assure you any results. When folk guarantee you a bad credit money loan for a charge, that is when you know that something’s wrong. If you have not guessed already, there aren’t any guarantees for somebody with poor credit. One of the most shifty tricks they attempt to pull on you is asking you to call a 1900 toll number. This is one of those numbers that folk used to call up adult discuss lines.

Each minute you stay on the telephone costs you money much more than what the telephone call itself would cost. That is how they make their money. You call them and they keep you on the telephone sounding like you can get your loan this way. They come up with nothing though . Most bad credit money loan crimes appear to operate out of Canada. They will customarily ask you to wire them the costs ( because sending them a check thru the post earns them the wrath of the U.

S. Postal Service that has tough laws against this sort of thing ).

And in parting, ensure you never give out your SSID number to anyone that guarantees a loan whether or not you’ve got no good credit.

Technorati Tags: bad credit loans, bad credit money loan

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"Don’t prejudge your credit."  "Bad credit, no problem." 

These are slogans you hear car sales advertisements use a lot when they are trying to get you to come in and buy a car.  If you are willing to buy into what these advertisers are telling you, even if your credit tells them you are a bad risk, they can get you that loan to get you into a car because that is just the kind of great guys that they are.  Do you ever see those commercials and wonder, "What’s the catch?"  Well the catch is one that could make you feel pretty badly toward car dealerships.  But is one you should be aware of before you let them set you up with a car dealership loan.

We are not saying that all "bad credit, no problem" offers are scams.  But there is a plan that these people are working on some customers they get that are already struggling with their finances.  And it is a scam that is not only ugly and underhanded, it is downright cruel.  It is designed to rob you of the money you put down on the car and your payments that you can make.  And when you think that these plans are carefully designed to steal that money from people who are already struggling, it can make you a little sick when you see them say, "We can finance you a car even if you have bad credit."  Here is how the scam works.

.    The commercials are designed to reach out to people who really need a vehicle to get out of a financial nightmare they are dealing with.  Because part of that nightmare is their credit has collapsed, they are desperate for someone to help them.  These commercials are there to offer that help when the car dealership is just out to victimize these people even more.
.    The dealership gets you to buy a used car.  They will be sweet and accommodating by assuring you they can finance the car even if your credit tells them you cannot afford the payments for very long.  In fact, they will try to get you to buy a car that costs more than you can afford.  They want you to default on that loan.
.    The victim of the scam must put down a down payment.  Usually they are able to negotiate that down payment but they want something.
.    The contract for the sale stipulates that if you miss one payment, they can repossess the car and keep the down payment and the payments that have been made so far.  You lose your money and they get the car back to sell again working the same scam over and over and over again.

It is a pretty ugly scam.  So beware of bad credit offers from car dealerships and read the terms carefully.  You are better off working with a bank or financial institution that can give you some credit to get you into a car without trying to trick you like some of these "no credit, no problem" offers are trying to do. 

Technorati Tags: auto financing, bad credit

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Contrary to popular imagination, people who go looking for cash advances aren’t really deadbeats. Regular people – businessmen, traders, everyday folks – can find themselves over a barrel from time to time. They could have enough money, only it could be bound up, inaccessible in a hurry. For people with bad credit, cash advance loans can be a lifesaver too. Most cash advances for people in distressed situations are for relatively small sums of money. The rates of interest that they charge can be punishingly high. But since the sums involved are relatively low, high interest rates don’t really bother people as much as they otherwise could.

One of the main factors working against people who try to find a source of cash in a crunch is the whole credit report thing that gums up the works. To people desperate for a break, the way the cash advance system usually works can be a breath of fresh air. You could have good credit, you could have bad credit; cash advance lenders in main, look at your income projection. If you have a job or are in business for yourself, all you need to do is provide proof of income. As far as these loans are concerned, your credit history doesn’t play much of a part.

Even if you do have bad credit, cash advance loans from these lenders do come reasonably easily. But you need to understand that these loans are strictly meant to be short-term ones. Once you start dragging these out, they cease to make any financial sense at all. You can’t just walk in into any business with a storefront that declares that they give out loans though. You need to make sure that your choice of business to go to is properly researched and proven to be legitimate. Not all cash advance services charge you the same kind of interest. The business that deals in cash advances for people with bad credit tends to attract more than its share of shady businessman. This is an area of lending that deals with desperate people. And desperate people are known not to really dig too deeply when someone is offering them alone no one else who will.

Try to see if you can check their references. Ask them for their policies and their credentials. Ask how many clients heyo have had so far and how long they have been in business. If you aren’t sure,  never go with a business that hasn’t been around any less than a couple of years.

Technorati Tags: bad credit, cash advance

My fiance and I are looking at buying our first home. I made mistakes when i was younger with my credit and now have bad credit. I have worked out payment plans with my credit card companies and am working to repair my credit; however my fiance and I want to buy a house. He has excellent credit. What is the best way to go about this. We both are newly out of graduate school and have recently started jobs with modest incomes, but I make a little more than he does. Would it be better for us to apply for a home loan together or for him to apply without me so that my credit is not factored in? Thanks.

Since you are not married yet, then he buys the home in his name only. Many states are dower states. The day you get married and spend one night in the home you will have joint tenants with rights of survivorship. By buying the home in just his name you will have to step down in home size or get an interest only note until your credit has been scrubbed clean for 2 years. Then you can refinance the loan or step up in home together. When that time comes if you have not married then have the home titled tenants in common. This will protect each of you from the untimely death of either one of you and the possibility of the estate coming after all. I have seen this happen.
Good Luck to you now and in your futures together.

credit card debt

bad credit history with credit card debt

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A buddy of mine had been fighting with slightly significant credit card debts of approximately $9000 that he carried for quite some time and was not managed to pay back. It was not anything flighty that saddled him with that sum – his newly born kid had major problems starting and my mate wanted to dip into his credit cards to assist in managing the situation. But there’s something that came out of his credit card situation that he never knew to expect – he asserts his bad credit history got him fired from his job. The unexpected thing here is that he’s employed for the govt, for the Defense Finance and Accounting Service in Ohio. They assert that bad credit history ruins a person’s security position in a fashion that will be hard to accept at a high-security regime position. But that employer is not exactly the only one ; there are so very many folks now with bad credit history, their conditions brought on by all of the repos and the unemployment of the previous 2 years ; and more, companies, both government and non-public, are using credit background investigations to be certain that they do not have anything to do with workers with bad credit. There’s a reason they are saying why your credit history should matter. They just accept that the more that you are in difficulty financially, the more that you will get tempted to swindle the company, to embezzle, to accept deductions or luxuriate in harmful monetary practices.

So are they being absolutely bigoted or is there a specific amount of logic to their position? If you ask me, I’d go on the side of announcing that they were just being bloody-minded. More than one out of 10 bosses have made credit checks a part of their background screening process – for each job, and not just the ones where a worker would make contact with money or anything to do with cash. And second, nobody has ever proved, not even close, that folks with bad credit history and monetary issues are certain to pilfer or luxuriate in anything deceptive. About one out of four companies immediately admits that if they were given an application from somebody whose credit report discussed an insolvency at any point at all in his life, that they might not consider him.

The thing is, to hold a person’s credit situation or insolvency against him in work goes against equal opportunity work under Fed.

law : it is really illegal. Not a tiny illegality would stand in the way of wanton insensitivity at these firms. Actually there’s been a bill being passed that proscribes corporations from conducting credit checks at all on workers or on potential workers. The law does make exceptions for certain firms like banks where workers have to work in contact with heaps of money. There are a considerable number of other states that are passing these laws too – Washington, Hawaii and a lot of others. The governing body has intermediated and my pal has his job back now, but nobody knows for how long. Essentially he just got sacked as he actually is in an office where they pay the bills of the Office of Defense. That actually should not need to be high-security.

Pretty shortly, there may be tons of corporations that find reasons to launch somebody because somebody occurs to have some remote type of access to consumers ‘ credit card numbers. A new law when they pass it all though the country, should ensure that there aren’t any loopholes possible that companies could use to just claim they had to tug an employee’s bad credit history and fire him seeing as there had been some way they could prove that he turns out to be inside 10 feet of somebody’s credit card number

Technorati Tags: bad credit history

My partner is the main income earner as I currently stay at home with our three year old son. I have a flawless credit history but cannot get a credit card as my income is too low. My partner has had trouble applying for a loan due to bad credit. If we were to apply for a joint loan or a credit card would my good credit help us?

Bad credit is one of the worst problems to have… however there exists a solution.

I will hereby talk from my personal experience.

I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :

http://umgarticles.atspace.com/debt-consolidation.htm

if it helps kindly remember me in your voting!.. cheers!

Help! I’m trying to start up a business and all I need is a $10k business credit card. But I have a bad credit rating and so far lenders insist I must have a strong co-signer. But I can’t get anyone to do this for me (long story) Any suggestions?
In answer to the first responder, it’s a self-employed business. I’m the only employee. It’s a long story but my personal financial mess is a combination of the high tech collapse (I’m an engineer) that has gone on 6 years, 3.5 years unemployed for myself. Plus, I have a medical condition. I finally made a bold move to get around the medical condition so I can start my own business, now all that is stopping me is a co-signer. I agree, it’s not an enviable position but I have no other choice. Is there any way to get a credit card without a co-signer when you have a bad credit rating?

Actually, it’s a short story. No one else wants to stick their neck out (co-signing) to cover your debts after you have shown little ability to handle your own affairs. They will be 100% financially responsible if you default on your debts and they know it. Operating a business is like operating your own financial affairs on steriods.

Who in their right mind would start a business on credit card with up to 32% anual interest? That is a very large nut to crack on top of paying for employees,your wages, materials, rent,phone and lights…. then look for making a profit too???
Tell me what kind of business you are going into that has a 32% profit after all expenses and I will start one in a heartbeat (as long as it is legal to do so)

Maybe you had better sit down and work out a business financial plan… then work towards fulfilling it and obtaining the capital you need by working and saving the start-up funds… then someone might be willing to listen to your business idea. If you don’t believe in yourself then others will not believe any differently. There is no shortcut to success. Those who cut corners are the first to fail.

Response to additional details:

The most probable way you will get a card is with that much money in their account. Your credit limit will match the amount of money in the savings account held by the credit card company. That way you can start building up a history of purchases and paying the bill on time. You have to re-establish a history of being reliable. After a couple of years of a spotless record, you may find someone who is willing to issue you limited credit and further build from that. I know you are looking for a fast way to do this…. sorry probably not going to happen.

I am not trying to beat up on you… I am trying to show you how others (creditors and co-signers) will look at this. Even if you have lost your job,any work is better than none… even fliping burgers. 10 G’s is not an undoable amount but it might take you 1 year to get there working minimum wage. Hopefull you will do the numbers and see that if you are holding 10Grand worth of debt on a credit card, your whole business profit will go to support the debt and you are working for nothing.

If you were an engineer then you are used to solving problems with a systems approach and a thorough evaluation. It doesn’t sound like you are using your formal education on this new problem. Please write up a plan and look at all the issues systematically. Form a feasable plan and go after your dreams.

Hope that helps

I’m debating this with my boyfriend.
He says that if he has bad credit, and I have good credit, and we get married, his bad credit will not affect me at all.
I say that when we’re married ,we share money, so any monetary problems HE has become monetary problems WE have.
Is he right, or am I?
OH, my boyfriend doesn’t have bad credit, we’re just giving a hypothetical situation! =P

Not a problem…until when and if you get married!!!

Hi. My wife and I both have terrible credit, and are looking for a credit card with rewards such as cash back or sky miles. We use our visa cards that are tied into our checking accounts so much that it is a waste to not get rewards, but it is hard to get rewards with bad credit. Any advise?

Honestly, if you both have "terrible credit" neither of you would be able to qualify for any type of rewards card. The visa cards that are tied your checking account are called Debit cards, and they do not affect your credit score. You would need to first improve your credit score before you decide to apply for anything. Make sure that you pay all of your bills on time and at least the minimum due on any credit cards that you do have. Do this for at least 6 months to a year before you decide to apply for anything.

I am debating trying to pay off a BIG amount($4000) and am not sure how to go about it. I don’t have the money for min. payments and don’t have any marks on my report yet. So how bad is it to get this on my credit report?

One 30 day late can reduce your score by 50 to 100 points

A credit score is a number generated by a mathematical formula that is meant to predict credit worthiness. The most common of the credit score standards is the FICO score by Fair Isaac. The FICO score ranges from 350-850 and is intended as a predictor of whether or not you will be 90 days late on a loan obligation. Fair Isaac uses thousands of credit reports to calibrate the FICO scoring model and is very secretive of the exact formula.

Here is a percentage breakdown of a FICO score:

35% – Payment History
30% – Debt Ratio
15% – Length of Credit History
10% – Types of Credit
10% – Number of Credit Inquiries
Most people are aware of the three credit reporting agencies TransUnion, Equifax and Experian. The average difference in score between the highest and lowest of your three FICO scores is 60 points. This is the result of each of the credit bureaus having different items on their report. some correct, some incorrect and some that are not being reported in full compliance with credit law.