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Archive for May, 2010

What are signature loans

28 May

What are signature loans?

You may have heard the term signature loan, and asked yourself: what is it?! Does that mean there are no signatures required on the loan contract?

A signature loan is a loan that does not require that you provide a personal asset as collateral in exchange for the loan. A secured loan requires that you place a personal asset up for collateral in exchange for the loan. For instance, an auto title loan requires that you use your car for collateral in order to receive the funds. That way, if you do not repay the loan, the lender has the right to take possession of the car. Signature loans do not require any collateral. Instead, the loan is based on your ability to repay the loan, including a proof of employment and income. Generally, lenders will not run a credit check, which is why they’re ideal cash loans for bad credit.

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Credit Score Guide

26 May

Bad Credit Score Guide

You be sitting there, looking over your credit report, and wondering- what do these numbers mean?! Unless you work in the financial industry, most people have no idea.

We’ll break it down:

No Credit:
This means that you actually don’t have any numbers on your credit report. Typically, individuals without a score haven’t had a credit card before or a record of repaying any loans.

Very Bad Credit:
Below 600. This generally indicates that you have several outstanding accounts as well as a large amount of debt. Usually, a co-signer will be required to obtain new credit. However, you may be able to apply for a second chance bank account or secured credit card. MoneyNowUSA helps thousands of  people repair their bad credit every day.

Bad Credit:
Between 600 and 650. This score indicates multiple credit card debt and possibly collection accounts. You may have trouble obtaining traditional or standard credit products. However, you may also be able to apply for a second chance bank account or secured credit card. (Watch out for secured credit card scams)

Fair to Good Credit:
Between 650 and 700. If your score falls somewhere within this range, you can probably qualify for most standard credit products. You may not qualify for the best rates, but you be able to get decent rates.

 
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How to Get Money to Cover the Cost of Funeral

24 May

How to Get Money to Cover the Cost of Funeral

If you’re dealing with the loss of a loved one, the last thing you want to think about is how to pay for the funeral expenses. These costs can be quite burdensome and often very unexpected. So, what are your options?

A payday advance may be the best solution. When time is of the essence, don’t wait around at a cash advance store. Apply for a payday loan from the comfort and privacy of your own home. With an internet-based lender service like MoneyNowUSA, you’ll be matched with best available loan at the lowest rates around.

Guide to Funeral Costs

 
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No Credit Check Payday Loans

20 May

No Credit Check Payday Loans

Worried about what’s on your credit report? You’re not alone. Millions of Americans have bad credit. With the decline in the economy, households everywhere were forced support unemployed family members, make-do with pay cuts, and juggle the monthly bills.

Therefore, it’s probably best to opt for a no credit check payday loan. That way, you avoid hurting your credit as you would if they did run a credit check. As with any loan, there are several things to remember. A personal loan is intended to be used as a temporary financial solution. With bad credit, it’s especially important to repay the loan on time. Any late payment will have a significant impact on your credit, potentially, making it even harder to obtain financing in the future.

Order a FREE credit report from AnnualCreditReport.com

 
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Stress Less About Finances

18 May

Stress Less About Finances

Regardless of what you do and how much money you make, you’ve probably thought about your finances at least once today. It’s true. No matter how much money you make, you’ve thought about bills in some way, shape or form within the last 24 hours. As humans, or more specifically Americans, money affects nearly every aspect of our lives- like it or not.

However, you can feel less stressed about your finances with a few simple steps:

1. Setup a savings account. Someone once told me, “You’re only as free as the amount of cash you have in the bank.” And, there’s a lot of truth to that. You don’t have to scramble with unexpected bills or applying for a last minute cash advance.

2. Minimize your spending habits. Aka: learn to be happy with less. Americans have a particularly hard time with this concept. If you can cut down on your expenses, you can put those savings into a rainy day fund and avoid using costly payday advances.

3. Create a household budget and educate everyone in your household about it- including your kids. Children can be wasteful with energy sources- leaving the water running or lights on when they’re not in the room. Teach them the importance of using these resources smartly- saving you on your utility bills!

How To Save Energy

 
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What is a Payday Loan Rollover

14 May

What is a Payday Loan Rollover?

A payday loan ‘roll-over’ is a term used to describe taking out a new loan to repay an existing loan. The reason people opt for a loan ‘roll-over’ is that it extends the term of the loan.

A payday loan is designed to be repaid by the borrower’s next pay period- usually 14 days. Sometimes, however, borrower’s just can’t repay it in full upon the due date. Life happens, bills come up and there are times when 14 days just isn’t enough time to come up with the extra cash. This is especially common in today’s economy. The lender offers an additional cash advance and rolls over the previous loan into the new loan, essentially giving the debtor more time to repay as well as more money.

The downside to rollovers is that they can quickly spiral out of control. In addition to the loan principal, borrowers are also responsible for increased interest fees. Therefore, as a general rule of thumb, try to avoid cash advance loan rollovers whenever possible. You’ll really save yourself a lot of money in doing so.

National Foundation for Credit Counseling

 
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Cheap Personal Loans in New Mexico

12 May

Cheap Personal Loans in New Mexico

Looking for a cheap payday loan in New Mexico? A personal loan, sometimes referred to as a payday loan, must comply with New Mexico state laws. And, it’s important to note that the same laws apply whether you get the loan at a store or via the internet.

Here are the basics:

The maximum amount of money you’re allowed to borrow (including fees) may not exceed 25% of your gross monthly income. This includes any other existing payday loans you may currently have. In other words, the total sum of all payday loans and fees must not exceed 25% of your gross monthly income.

The maximum interest rate may not exceed $15.50 per $100 of the principal loan.

Example:  For a $500 loan, the interest would be $77.50 ($15.50 x 5).

The minimum loan term is 14 days and the maximum term is 35 days.

You can verify the license of a payday lender in New Mexico by calling 505-476-4885 or online.

 
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Using a Cash Advance to buy an Ipad

10 May

Using a Cash Advance to buy an Ipad

We’ve all been there- a new toy comes out and we want it REALLY bad. Recently, Apple released a touch-screen gadget that’s slightly smaller than a piece of paper and performs similar to a personal computer (without the keyboard). Thinner and lighter than most laptops, the Ipad is designed for business moguls on the go!

Here’s the kicker: the Ipad starts at $499. With payday a week away, is it bad to use payday advance?

Short Answer: Yes. A personal loan should only be used in a financial emergency as a last resort. An Ipad is considered a luxury item. For the time being, access a computer at your local library or ask to use a friend’s laptop. Then, when you’ve saved up enough cash, you can enjoy your Ipad without worrying about the added loan fees.

 
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I Have Bad Credit- Can I Still Get a Loan?

07 May

So, you have bad credit? Don’t worry, these days it’s not uncommon. Everyone faces financial hardships at least once in their life. With bad credit, it can feel impossible to get approved for a payday loan.

The good news is- even with less than perfect credit, there are several bad credit loan options available to you. The first place to check with is the bank you have a checking or savings account with. The bank you have an account with already is more likely to approve your  application (this is because they want to keep you as a customer). The next place to check with is a credit union. Credit unions have a reputation of being a little less rigid than a traditional bank (like Wells Fargo or Chase) would be.

If neither of those work, the next place to try is an online lender. The benefit to an online service is that they have access to hundreds of lenders. As a result, your application will be reviewed by multiple lenders, ensuring that you qualify for a bad credit loan and receive the cash you need loan amount at the lowest rate available.

 
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Bad Credit Cash Advance

05 May

In today’s economy, it’s not uncommon to have bad credit. The stigma that was once associated with bad credit is no longer. Literally millions of Americans have been hit with hard financial times. With bills looming and family aid tapped out, many are turning to cash advances.

A bad credit loan search engine like MoneyNowUSA will match your loan request with the best lender, ensuring that you get the highest loan amount at the lowest rate. The application process is painless. In a matter of minutes, you’ll know if you’ve been approved. If approved, you’ll be asked to supply a few pieces of documentation and an esignature on the terms and conditions contract. And, that’s it. Generally, the money will be wired directly into your bank account.

National Foundation for Credit Counseling

More information on bad credit loans.

 
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