Finance Talk Archives - Debt Consolidation Loans

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refinancing-loan

Factors to Consider When Refinancing

Refinancing a loan can get you out of many financial problems as long as you know that it is worth the time and can save you some money in the process. While most of the time it is a service that can help you, there are some situations when refinancing is either redundant or you cannot access it for various reasons. In this article, we will try to present some factors that you may want to consider before refinancing a loan. Note that the best method to get informed regarding these services is by asking a lender or a financial […]

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Secured vs Unsecured Loans: Which is Better?

Securing your loans with your home, business equipment, machinery and other costly assets can provide you with a cheaper interest rate than an unsecured loan. But, this discussion on secured vs unsecured loan can show you that there’s more to it than the rates. Secured loan is cheaper than an unsecured one… Applying for a loan and using your home as collateral has its own benefits… Big borrowing. You can borrow a large amount which depends on the security and the type of loan offered. Car loans, mortgage, equipment finance and other types of secured loans has high borrowing limit […]

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What is a Judgment? How Can I Remove it from my Credit File?

A judgment is the decision of a court that has become final and executory. It includes default judgments and civil judgments which can be quite harmful to your credit score. Understand “What is a judgment”, why they appear on your credit file, and what you can do to get them off your credit report. Why do judgments appear in my credit file? When creditors or debt collectors sue you for nonpayment of your debt and proved that they have the right to recover a sum of money from you, the court will issue a formal decision, called, “Judgment”. Because a […]

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What is A Low Doc Loan? Is it a Good Option for the Self-Employed?

Being self-employed means you don’t make the same income, narrowing your chances of getting new credits to low doc loans and other personal loans. What is a low doc loan? Is it good or bad for the self-employed? Low doc loan is a type of loan that accepts applications from people who cannot produce proof of income like payslip and tax returns. Lenders only require some form of supporting evidence that the borrower is actually earning money and can repay the loan. While there are lenders who charge huge interest rates and fees that can push people into a debt […]

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Getting a Bad Credit Loan When You’re Self Employed

If you have a bad credit and you are self-employed, getting a bad credit loan may not be a piece of cake. Credit-challenged individuals without a stable employment are usually turned down by traditional lenders because they do not meet the common requirements such as-verifiable proof of income and professionally prepared tax return, plus a good credit score. They use these requirements as basis of their evaluation of a borrower’s credit worthiness. Here are some of the important facts a self-employed borrower needs to know when getting a bad credit loan: Each bank has a minimum income requirement and they […]

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Ways to Avoid Being Scammed With a Bad Credit Loan

A bad credit loan is a convenient and powerful payment tool for people who have low credit scores. Unfortunately, it also provides fraudsters an easy means for luring people into bad credit scams. Here are some things you can do to avoid them: Recognize the signs of a bad credit loan scam Upfront payment via untraceable payment method: Does a lender ask for your money without showing an interest into your paying ability and completely disregards your income and credit history? It is a scam. If the lender asks you for an upfront payment by wire transfer, put your guards […]

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