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How to Get Money, Even If the Credit Score Is Bad
It is very difficult to get a loan nowadays. Banks have restricted to lend money to people with bad credit reports. This is a result of the financial crisis. Even many people with good credit scores in the beginning of the financial crisis are meanwhile in trouble. They might have lost their job due to the layoffs of masses of people. They might have lost a comfortable side income besides their main job and their income does not cover longer their monthly expenses. Small business owners struggle to survive and need money in order to gap financial straits.
There might be good reasons to need money quickly. Even people who lead a modest life can suffer serious financial problems. The heating or the plumbing of the home needs urgent repair. The car crashed down and needs to be replaced in order to go to work. Children need school equipment, e.g. a new computer for their homework. The dentist bill has to be paid.
The first and best advice is always to work out a budget with the monthly income and expenses and to exercise strict financial discipline. It is better to save the money for unexpected, urgent expenses than to apply for a loan. All these good advices are helpless for the working poor or for people who have lost their job and need to care for a family.
There are solutions for people with a bad credit score:
Government Grants for US residents
Even people with bad credits have access to government grants in the US. It is possible to apply for different kinds of useful government grants: home repair, school supplies, medical bills, public transportation, tutoring or teaching, general living expenses. A government grant could be helpful in order to get assistance to consolidate the consumer debt situation. Several thousand Dollars can be available in a single case. No fees and interest rates need to be paid.
There are some interesting facts about government grants. More than 20 million US people get government grants every year. Six million people get money to go to college, 10 million people get free help and training for a better job. One million entrepreneurs receive money to start or expand a business and four million people get money to invest in real estate.
Pawnbrokers or pawnshops as an alternative for borrowers throughout the world
Pawnbrokers are the lenders of last resort for people with a bad credit reputation. Whoever fails to get a loan elsewhere finds a chance at a pawnbroker or pawnshop. Pawnbrokers can be found everywhere in the world. How does it work? Borrowers get cash quickly by selling the old merchandise or by using their valuables as collateral on a small loan. Once they repay their loan and interest, the collateral will be returned. However, those who borrow money from a local pawnshop should be aware that if the loan is not repaid by the specified time, the pawnbroker has the right to keep the collateral. Pawnbrokers take usually consumer goods as electronics, jewelry, valuable music instruments or antique pieces of art as collateral for a loan. By the way, pawnshops are an interesting source to acquire a consumer good to a good bargain. Not all of the goods that have been given as collateral will be bought back.
More about how to make money can be read at Make Money Tip. The website also offers free tools for personal finance, a link to the best free on-line course about financial markets and a section with ideas to make money.
Liliane Waldner
Tenant Loans – Can Tenants Really Get A Loan?
If you rent your home and you need to borrow money with an unsecured loan, a tenant loan may be easier to get than you think.
In the past, lenders have tended not to cater for tenants because of their concerns about what may happen should their borrowers default. In the vast majority of cases, this fear has not been fully justified.
Property prices have soared in recent years, taking many people further away from their dream of owning their own home, whilst others prefer to rent because it allows them more flexibility over where they live, particularly when their job requires them to move fairly frequently. House prices are constantly in the news and a whole industry has mushroomed with property speculators eager to make a financial killing on the capital asset growth that is sure to follow. Unfortunately, this doesn’t really help if you’re looking to get onto the property ladder and as a result, thousands of would-be first time buyers seem to be being edged further and further away from their dream of owning their own home.
Greater numbers of people looking for tenant loans have made the UK lenders sit up and take more notice, so more and more tenants are now able to get their unsecured loan than ever before. Interest rates are more competitive and there are even flexible payment options on certain plans.
So what can tenant loans be used for?
– buying a new car or motorbike – going on a fantastic holiday – consolidating debts – a fabulous wedding with all the trimmings, or even – when considering buying your own home
In fact, you can use the money for just about any personal use. If you’re looking to use the money on a commercial venture however, you may find more difficulty in securing the funds.
Who can apply?
You can probably think of many more uses for unsecured tenant loans but whatever your loan purpose, you may still find that getting a tenant loan is much easier now than in the past and any type of tenant can apply:-
– council tenants – private tenants – housing association tenants, or even – tenants living with parents
There are a few questions that may need to be asked since the lender has a set of criteria that they will need to meet but it may only take a moment to complete a tenant loan enquiry online, so don’t worry. You should get everything in writing from your provider and when you have completed and signed the credit agreement, provided you have met all of the criteria set by the lender, your tenant loan should complete within a few days. Simple!
If you are in the market for tenant loans, go ahead and give it a try. You never know!