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How Car Dealers Take Advantage of People with Bad Credit

07 Oct, 2018 / Comments:Comments Off on How Car Dealers Take Advantage of People with Bad Credit / By Jennifer Hamilton

Buying a car can be a stressful event for those with limited means. In particular, the fear of not qualifying for a loan, or it being too expensive, will drive people to look at questionable dealerships promising to work with anyone, regardless of credit history. The problems with these companies all lie in the fact that they profit off of interest, rather than the car themselves. High Interest Rates People with poorer credit do not qualify for lower interest rates. Car dealerships know this, and

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Options When Upside Down on Your Car Loan

18 Aug, 2018 / Comments:Comments Off on Options When Upside Down on Your Car Loan / By Jennifer Hamilton

It is quite common of new-car buyers who enter a dealer’s showroom to have a current vehicle to trade in, in which they owe more on it than what it is worth. If you owe more money on something than it is worth then it is known as “upside down.” This applies to about half of all people who purchase new cars. However, this issue did not used to be as common, in fact in the past buyers would buy a car and make payments on it until it was fully paid off. However, with an increase in incentives

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Payday Advance Vs Going to a Pawn Store

09 Aug, 2018 / Comments:Comments Off on Payday Advance Vs Going to a Pawn Store / By Jennifer Hamilton

Emergencies pop up from time-to-time and money isn’t always available to take care of those emergencies. It is important to know that you have options to help you get the funds you need. Payday loans and visiting a pawn store are two of the most commonly used options to help you deal with those emergencies. Each has benefits and drawbacks, which are discussed below. Advantages of Obtaining a Payday Advance Payday loans are quite convenient. The amount that you are qualified to borrow is based upon

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Alternative Options to a Securing a Personal Cosigner

18 Jan, 2018 / Comments:Comments Off on Alternative Options to a Securing a Personal Cosigner / By Jennifer Hamilton

Perhaps you need a car loan in order to get to work, and although you know you’ll be able to make all the payments, you don’t have enough of an income or your credit score is too low in order to obtain one. Or perhaps you want to rent an apartment right out of college, but don’t have a steady income yet. A co-signer can solve any problem you have with getting a loan or lease. That being said, it’s reasonable that you don’t want to compromise your loved one by asking him or her to co-sign.

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Downfalls to a Reverse Mortgage Loan

23 Nov, 2017 / Comments:Comments Off on Downfalls to a Reverse Mortgage Loan / By Jennifer Hamilton

One retirement planning resource that has begun to gain a significant amount of interest in the past couple of years is the reverse mortgage. For plenty of retirees it can seem like a savvy financial move. You are able to gain access to your house’s equity, at which time the bank will actually make mortgage payments to you. Essentially, a reverse mortgage will turn your home into an income source. As nice of a thought as this is, the truth about getting a reverse mortgage is far from being ideal.

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Pitfalls of Interest Only Loans

25 Aug, 2017 / Comments:Comments Off on Pitfalls of Interest Only Loans / By Jennifer Hamilton

An interest-only loan is a type of loan in which a borrower solely pays the interest on the principal balance for a specific amount of time. That time period is typically 3, 5, or 10 years. The principal payments will then kick in at a higher amount. This loan has many advantages. The monthly interest payments are typically low for the length of the interest-only period. Those particular payments are also tax-deductible. This loan allows a borrower to make a large purchase while retaining the

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What is a Parent Plus Loan?

15 Apr, 2017 / Comments:Comments Off on What is a Parent Plus Loan? / By Jennifer Hamilton

Many parents decide to borrow money using a Parent PLUS loan in order to aid them in covering the cost of their child’s education that they’re not able to meet up front. If you’re thinking about this option then it is absolutely essential that you are well aware of all of the metrics of taking out this type of loan and what it means for your child’s education. Parent PLUS loans are a fixed-interest loan that is federally guaranteed to those parents who are credit-worthy and have dependent

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How to Find Bad Credit Loans Online

23 Oct, 2016 / Comments:Comments Off on How to Find Bad Credit Loans Online / By Jennifer Hamilton

Just because you have a poor credit history doesn’t mean you can’t get a loan. Contrary to popular belief, there are organizations dedicated to supplying loans to the people turned away by the mainstream lending agencies. Known as bad credit loans, you can go to a specialist lender in your area or apply online. Here are the essential things you need to know when applying for one of these loans online. These suggestions will improve your chances of being approved. Choose the Right Lender The person

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Personal Loans for People with Bad Credit and No Checking Account

18 Oct, 2016 / Comments:Comments Off on Personal Loans for People with Bad Credit and No Checking Account / By Jennifer Hamilton

Banks determine if you are eligible for a loan by your creditworthiness. If you have bad credit, obtaining a loan can be very tricky. If on top of that, you don’t have a bank account; it’s even harder to get a loan. However, all hope is not lost; it is still possible to get a loan with bad credit and no bank account. Loan From a Traditional Bank will be Hard Trying to get a loan without a bank account and bad credit from a traditional bank is difficult. Even if you are granted a loan, it will

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Why Payday Advances Can Be Dangerous

21 Jun, 2016 / Comments:Comments Off on Why Payday Advances Can Be Dangerous / By Jennifer Hamilton

Payday Advance Loans are advertised as a good way to handle a temporary shortfall right before getting a paycheck. On the surface, these loans appear to offer a vital service enabling hard working men and women to handle expenses while waiting to get paid. However, the interest charged on these loans can easily overwhelm the principal, creating a situation that even a member of the mafia would be too shocked to participate in. Here are some ways that Payday Advances can be truly dangerous to your

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