Tag Archive | “trouble”

Bad Credit Loans for Unemployed

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People need money on immediate basis in the event of becoming jobless. This is because they have to pay off their utility bills and meet other living expenses. There are many lenders or lending institutions that help financial troubled people having bad credit history. On the other hand, there are loans available for unemployed people. These loans are offered by the specialist creditors who do not require checking the credit history.

Credit Card Cash Advance

Credit Card Cash Advance

People who are facing terrible financial conditions can take help from overdraft option or they can take out a credit card cash advance. Customers can withdraw a defined percentage of funds from an ATM account, but not every issuer offers this facility. If customer is allowed to do so then it will apply an administrative fee along with high interest rates that are higher than a traditional credit card purchasing. This option is reasonably affordable and easy to take out as compared to that of the loans with bad credit.

Loans for Jobless People by Pawnbroker

These types of loans are offered to those customers who can put any asset as the collateral for the loan; these assets are silver or gold. The items are screened on the spot and their value is determined and on the basis of the value of your items, Pawnbroker decides the amount of instant bad credit loan which they can offer to you. After deciding the required amount of money which the borrower wants to borrow, he/she have to provide their identification details, the collateral and then they have to sign a legal agreement. After the completion of this process, borrower will receive a receipt (which can later be used to repossess the collateral) besides the unemployed amount of loan. The National Pawnbrokers Association reported that approximately 88% collateral’s are repossessed.

Instant Same Day Loans from a Friend

It is a good idea to ask for a loan from a friend or a close family member instead of contacting any professional lender. These loans offer cheaper borrowing terms as well as the repayment terms can be settled according to your wish.

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0% Credit Card: Purchase vs Balance Transfer Cards

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There are two types of 0% credit cards in the market. 0% balance transfer cards and 0% purchased cards. The rates of both of these are of special and promotional nature but still there is a significant difference. One must not get dazzled by the shiny and attractive rates being promoted by credit card issuers. Only when you understand the difference between balance transfer and purchase cards, you will be able to avoid the hidden fees and charges.

0% Credit Cards

Zero percent is just a marketing gimmick of credit card companies to lure new customers. If you take a closer look at the fine print, The 0% rate being boasted by banks is just for the promotional period of approx 3 – 9 months. After that, they start charging you “Huge” and “real” fees and interest charges.

You can not Borrow at Zero Percent!

There are no free lunches in the world, right? similarly, You can not borrow money on 0% interest rate. Interest rates and fees on your credit cards are the only source of income for banks and credit card companies. No bank or credit card company can survive by lending money without charging anything for it

0% promotional rate is for limited time only

After the promotional period is over, the banks starts charging you with normal rates. Length of promotional period can vary from card to card and bank to bank. Generally it can be anywhere between 3 months to a maximum of one year(which is very rare).

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Scam Credit Repair Companies

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There are a number of credit repair companies, which are working to help financially troubled customers.  But all of these companies are not reliable and if you are looking for a credit repair company then you have to be careful and select one for you wisely. Scammers can dodge you anytime. Here are a number of scams which you should be wary of; some of these scams are as follows.

credit repair scam

What scam credit repair companies actually do?

Scam credit repair companies steal the contact details of a customer. They lie to their customers and tell them that they can start a new credit report and their old bad debts would not appear on the new one. When the customer decided to work with them,. These scammers do the following things.

  • They use their original names because a lot of people have the same name.
  • They get a new telephone number or a new cell phone service.
  • They change their address by using any mail forwarding service or using friend’s address.
  • They get a new scam number in order to replace your Social Security Number. These scammers give you an EIN (Employer Identification Number) which is assigned to small business to apply for a Federal Tax Identification Number. This number consists of nine digits similar to that of the Social Security Number.  They will tell you that all your previous debts are cleared and now you can take a new start with new credit report. Read the full story

Four Scams Aimed at You If You Have Bad Credit

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Scammers are every where on internet and their main goal is to trap you to take as money away from you as they can. You can meet such scammers anytime while trying to deal with your troubled financial situation. This article contains information about four most common scams which might catch you anytime. These scams are specially designed for people having bad credit.

bad credit scams

Scam One – Fee is required

These kinds of scams offer you a loan, but they will ask you to pay them a fee in order to get money from them. At this moment, you should bear in mind the important fact about the normal payday loan or any other short-term loan. For such loans, you get the amount of loan first and then you pay off the lending company in return. What scammers do is actually they collect money on the name of fee and disappear without giving you any loan. Other scammers give you the loan, but they take money from you in terms of application charges, form processing fee or any other unnecessary fee. These scammers will charge you extra and unnecessary fee if you have bad credit, but this fee is charged after giving the loan not before it.

How to avoid this scam? The simple solution to avoid this type of scam is that don’t pay any fee in advance. Plus, if the company asks you to call at number starting from 900, then avoid it. Find a lender that doesn’t charge you any fee before giving you the loan.

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Surviving The Payday Loans

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If you want to buy something for you, need money for repairing your house, require money for having some medication, or need some money for any purpose; the need instantly drags you towards having a loan. So if you eventually decide for having a loan, make it sure that you SURVIVE in that much amount which you have availed.

Payday loan survival

Once you plan for a having a loan to fulfill any of your need, there are certain tips that you need to keep in your mind. They will certainly help you towards the payday loan survival. Some of them are as following:

pay day loan servicing

Control your desires

You must have enough control on your desires and wishes. Keep in mind that every desire is not necessary to be fulfilled.  Apply for the loan in case of extreme need and keep in mind that it is not just your, you have to pay it back within the given weeks or months or whatever. So in the payment, you still need money. Before having a loan, think clearly if you can pay that back after some time or if your need is not that important to be fulfilled.

Borrow smallest possible amount

While you figure out the importance of your need and eventually apply for the loan, always try best to borrow the smallest possible amount.

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How to Get Out From Under The Payday Loan Trap

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You do come across some financial emergencies that you need to have a payday loan. But when it comes to return it, the fees are quite high that you get trapped in a mess. Some tips regarding your help are given here. This will help you see day light.

Getting out of the payday loan trap

1. Don’t panic

Don’t blame your self for having this mess and trouble. It generally happens. This time you were not prepared so prepare yourself for avoiding such situation in the future.

payday loans

2. Ensuring the presence of the money in your bank

When your check get cleared you must instantly make it sure that there some money is present in your bank account. In some business you need to pick the checks yourself and some banks process them through your bank.

3. Figuring out what you owe

You must figure it out that what you owe and what will you owe after some time. List the principle in a spreadsheet about the amount that you normally take out, the fees, dues and interest and also the net amount when a specific period ends. This step is actually for your motivation.

4. Pay as soon as you can

You must get rid of these payments as soon as possible.

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