Bad Credit Loans

Friday, February 6, 2009

Student Checking

Student checking is one of the forms of checking accounts. It is a checking account exclusively created to meet the unique needs of students, designed to make banking affordable and convenient for busy students with easy account access, no minimum balance, and no monthly service fee. It is a free checking account that offers students convenience and cost-savings. There are many financial institutions that offer special checking deals if you are a student. The perks vary from bank to bank, but may include freebies on checks, cashiers and traveler’s checks, ATM use, better rates on loans and credit cards, or discounts on everything from travel to prescriptions.Keeping the “on-the-go” student in mind, to give them all the value and convenience they need, student focused accounts are offered that makes it easier to manage college finances. During business hours your busy schedule may make getting to the bank difficult. That’s a student checking account should be created to meet the needs.

Frequently Asked Questions about Repairing Bad Credit

Can we erase bad credit?Yes. Erasing or repairing bad credit may seem like an insurmountable task, but it is possible. Some people say that only time and patience will repair bad credit and this is true to a certain extent, but there are things that you can do to “speed up” the process.Can we erase bad credit legally?Yes. In fact there are law firms that specialize in repairing bad credit.Can we erase bad credit if we have had negative items reported to the credit bureaus?Yes. Repairing bad credit is mostly concerned with removing negative items from your credit reports.Can we get a credit card before we erase bad credit?Yes. You can get a credit card before repairing bad credit, but you will pay higher interest rates and fees. If your credit scores are really low, you may only be able to qualify for a secured credit card. A secured credit card is one that requires you to make a deposit into a savings account and your credit limit is equal to the balance in the savings account. If you are successful at repairing bad credit, you will probably be surprised at the credit card offers you will receive.Can we get a home loan before we erase bad credit?You can probably qualify for a home loan with bad credit, but you will pay hundreds of dollars more per month than someone with good credit. So, the question you might want to ask instead is; should we get a home loan before we erase bad credit. Repairing bad credit will save you money in the long run, even if you are unable to do it yourself. The cost of hiring a law firm that specializes in repairing bad credit is small compared to the additional interest people with bad credit are required to pay. The reason is that lenders are allowed to charge different interest rates to different people. They are not allowed to discriminate because of race or sex, but they are allowed to discriminate because of past credit history. This is why many people are interested in repairing bad credit. These people know that they many be able to get credit, but they will pay more.Can we erase bad credit on our own?Yes. Companies that specialize in repairing bad credit can not legally do anything for you that you could not do for yourself. The only thing you may save by hiring someone to do it for you is time and frustration.How can we erase bad credit?Repairing bad credit includes many factors; correcting information on your credit report, removing negative items from your credit report, negotiating with creditors to remove negative items, having excessive inquiries removed and building good credit. The first step in a do-it-yourself program is to visit www.annualcreditreport.com and review the information on your credit report. No matter how bad it looks, don’t give up. Repairing bad credit is a lengthy process. There are books, software programs and kits for repairing bad credit. There is also a lot of free advice on the subject. There are law firms and other companies that specialize in repairing bad credit. They can do most of the work for you.

Dealing With and Repairing Bad Credit

Bad credit can be a burden for otherwise good credit. It may not seem fair at times that financial mistakes in the past can haunt you in the present, but with a little bit of work and some time bad credit can be turned around and repaired.The important thing to remember is that options exist even for people with bad credit and that just because it’s bad now doesn’t mean that it always will be.What is credit, anyway?Credit, also known as a credit rating, is an indication to potential lenders and service providers as to how likely a person is to repay the loan or credit line that they’re offered, or how likely they are to pay their bills on time.If you have good credit then you have a high credit rating, and have paid your bills on time most of the time in the past.If you have bad credit then you have a low credit rating, and have had problems paying your bills on time or haven’t paid some of them at all.People with bad credit are considered a risk for new credit lines because of their past performance, and are usually either denied credit or services with new providers or have to pay security deposits and higher interest rates than those people with good credit.What options exist for people who have less-than-perfect credit?If you have bad credit then it might seem like you can’t get anyone to take the risk to extend you a loan or credit line, at least at first glance.In reality, though, there is an entire industry of bad credit lenders, from credit card companies to cheque advance lenders even automotive financing and car title loans.Many of these lenders do require security deposits or higher interest rates, but in exchange they offer services that you might otherwise be unable to get.Some of these lenders don’t even check your credit though it’s very likely that their patrons either have bad or no credit, they offer the same terms and rates to everyone without checking.How can you repair your credit rating?Every day it seems like there are more companies offering amazing credit repair services, but many of them either don’t work like they claim that they do, cost you more than they’re worth, or are of questionable legality.The desperation to get rid of bad credit can open you up to some scams that are mixed in with the legitimate services, so take care when dealing with any of these companies.A far better option is to take care managing your finances and repair your credit on your own it may take longer, but it usually ends up being cheaper in the long run.Take care to pay your bills on time, and make payment arrangements to clear old debts. At the same time, you should establish one or two lines of credit with low credit limits (to keep them from getting out of control). Make regular on-time payments to these credit lines, letting the providers report the payments on your credit report.As time goes by and you pay off old debts, these positive reports will overshadow the old negative ones, and the older ones will eventually be removed from your report altogether.

Get More Choices with Online Personal Loan

Today advancement in information technology has bought a revolution. A person sitting at home can know, what is going around in the world. He is just a click away from the information. The only tool required is your personal computer with internet access. And the whole world is in your one click. Accessing internet provide various facility such as the person can shop or he can buy and sell things on the internet and many more. Then why the lenders should lack behind; so all the lenders also decided to offer the various kind of loan on the internet.You might think that online applying for loan may involve very cumbersome process. But it is not the case. Rather it makes the cumbersome process of physical market in to easy and manageable process.Definitely, now you may be eager to know the process of getting the personal loan through online. In just three simple steps the person can get the loan:Step 1: researchResearch can be defined as locating the various lenders on the internet. It is basically done through surfing. It may be bit time consuming but it help in getting the good results.Step 2: comparisonAfter locating the various online lenders the next step is to evaluate all the lenders on the basis of annual percentage rate and terms & conditions of the loan. Comparison of various lenders will help you to know what is best for you.Step 3: chooseLast step is to choose your lender which suits your financial needs.Once your choice is been finalized the lender will provide you with the quotation of the loan. Quotation of the loan consists of various clause, terms and condition of the loan. This whole process is carried on the internet itself.It can confused you that why online lenders offers lower rate of interest? The reason behind this is that lenders who provide loan on internet do not have branches, so this eliminates all the overhead cost of the loan, which in turn the lender to offer the low rate of interest to the borrower. Another reason for the low rate of interest is that the lenders pass their savings directly to their customer which does not involve any cost.

Credit Repair Advice The Fair Credit Reporting Act and Your Legal Rights

The Fair Credit Reporting Act (FCRA) entitles you to repair your own credit report. You have a legal right to dispute any information you find on your credit report. Enacted in 1971, the FCRA stipulates that the credit bureaus investigate all consumer disputes if they challenge credit information on their credit reports. As per this Act, the credit bureaus must complete the investigations within a 30-day period. Any information that cannot be verified or is found to be inaccurate must be deleted immediately.Your Rights Under the FCRAIf your application for credit, employment, or insurance is rejected, you have a right under the FCRA to ask, within 60 days of the refusal, for a free credit report. The company rejecting your application must disclose which credit reporting company they used for getting your credit scores. Normally, the three major nationwide credit companies used are - Experian, TransUnion, and Equifax.It is reported that nearly 79% of all credit reports contain some error or other inaccurate information. It is mandatory, under the FCRA, for the credit reporting companies to correct the incorrect information. Here are some steps to take to go about making the corrections:1. Write to the credit reporting company about the incorrect and inaccurate information.2. Send copies of documents that will verify your claims.3. Clearly, and in detail, itemize each inaccuracy, explaining why it is wrong.4. Include a copy of the credit report in question, highlighting the disputed statements.5. Ask to have the inaccurate and incorrect information removed from your credit report.6. Keep copies of all documents you sent to the credit reporting company.The credit reporting company is obliged under the FCRA to forward the documents you supplied in support of your case, to whichever company or organization provided the initial disputed information. This organization must investigate and report back to the credit reporting company. If the information is found to be inaccurate, it must be corrected and also reported to the three major credit bureaus.It is mandatory under the FCRA that the credit report agency must send the results to you, in writing, along with a free copy of your credit report. You can also ask the credit reporting company to send a copy of your corrected report to all those who had asked for it in the last six months.The Fair Credit Reporting Act (FCRA) was created to ensure that your individual rights are protected and that everyone has the same opportunity to correct any inaccurate credit information on their report. When used correctly, this legal right can make a difference in your financial future.

5 Tips for Repairing Bad Credit

Almost all of us are fond of overspending! We buy things we don’t really need. Once we see something that catches our eyes, we automatically buy it - often without even thinking if we still have money or not.People usually do this in order to please themselves. And lots of them have their own credit cards as a reserve once they run out of cash. They tend to spend a large amount of money in order to serve their caprices or to make them feel better about themselves. Unfortunately, this never really works, and it causes more damage than it cures.Almost everybody has a credit file, maintained by a credit reference agency. Many people have bad credit facts on their files, such as defaults and bad payment history. This means that when these people apply for credit, such as loans, mortgages, credit cards, car finance or even for a simple bank account, they may be turned away.Sometimes these people are not even aware of their credit information and credit files, which cause them to have a bad credit.Having bad credit can adversely affect every aspect of your life. A low credit score means severe financial limitations and difficulties. As if this is not enough, you will also have handfuls of credit councilors and other so called money managers trying to take even more from you with their debt consolidation plans that promise to “cut your payments in half”, “save you thousands”, or our personal favorite - “get you out of debt with the click of a mouse”.If only our computer mouse had the debt relief magic that those bad credit spam emails promise. Although getting out of debt can’t be done with a click of a mouse button, it’s probably not as difficult as you think.If you are in this kind of predicament, it is imperative for your financial stability that you do everything you can to repair it.Now, you might be thinking exactly what is bad credit repair?“Bad Credit repair” is a common term often used to describe a systematic process of rehabilitating an individual’s creditworthiness, or financial credit reputation.It is a process that you can carry out yourself, and sometimes the steps you can take are simple. However many people find credit repair a difficult and discouraging procedure.This process is usually initiated by obtaining copies of your credit report, reviewing the credit report for errors, omissions, and misleading information, and requesting corrections to such information by means of a formal dispute.If you are worrying too much about your credit, conquer that feeling! No matter how bad your credit is, you can take the following steps to make it better:1. Pay all of your bills on time. Decide if you have the income to meet all of your obligations. Remember, late payments (payments that are 30 days late or more) have a negative effect on your credit rating.2. Lessen the number of credit cards that you have. This will reduce the tendency to overspend. Contact your creditors about your plan and close your other accounts.3. Avoid bankruptcies. Bankruptcy may not the end of the world but it will be with you for years. It will stay in your credit report for at least years and hamper your ability to get credit in the future.4. Request in writing that your creditors reduce the credit limits on your accounts to lower your amount of available credit.5. Monitor results and stick to your plan. Review your file every few months to make sure that any errors that you have disputed have been corrected. After a period of time inquiries will no longer count against you provided you haven’t been applying for credit.These steps can help anywone with bad credit. If you are in that situation, don’t be troubled. Bad credit can almost always be improved or corrected. JUST:* avoid overspending* establish a realistic budget* get out of debt now* build a financial cushion* read and understand your credit report* get mistakes on your credit report fixed* get positive information added to your credit report* negotiate with creditors