Bad Credit Loans Blog

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Reasons to Use Low Doc Loans

Low doc loans have been around for a good amount of time. However, people still have no clue what they are or if these loans even exist. Some individuals would benefit from these types of loans, but since they are not that popular, they rely on other banking services that are not quite oriented on the clients’ needs. What Are Low Doc Loans? As the name says, low doc loans don’t require too many documents. You don’t need to provide pay slips. Instead, you must provide statements from your accountant or a signed income declaration form. Low doc loans are […]

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Is a Secured Loan Better Than an Unsecured Loan?

Before you apply for a loan, it’s important to know the difference between secured and unsecured loans. So, today’s article will present to you the main aspects regarding secured loan vs. unsecured loan. Secured Loan vs. Unsecured Loan: The Differences  To begin with, a secured loan is backed up by an asset, such as a car, house, or any other valuable possession. That asset is referred to as collateral for the loan. If you choose a secured loan, you agree that the lender enters into possession of the collateral, in the case in which you cannot make the repayments. This […]

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Creative Ways of Reducing Your Debt

If you want to know how to get out of debt using creative methods, then this article is right up your alley. Many people who don’t know how to get out of debt are tired of the same responses: get a job, pay your debts, talk to your creditors, and don’t spend that much, etc. While the old fashioned responses still hold up even to this day, we decided to make things more interesting for you whenever you choose to reduce your debt. Here are a couple of creative tips that will teach you how to get out of debt: […]

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Secured and Unsecured Loans – Which One Is Best?

Lending options are divided into secured and unsecured loans. A lender analyses a consumer’s credit history before offering a loan. This is, presumably, the main aspect that will convince a lender to offer you an unsecured loan. So, which one of these two categories is best for you? What are the characteristics that distinguish them? Explaining Secured Loans Secured loans include an asset as security, such as a house in the case of a mortgage loan, or a vehicle in the event of an auto loan. This asset constitutes the collateral for the loan. When you choose such a loan, […]

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How to Get a Home Loan with Bad Credit?

In the past, if you had a black mark on your credit, it would have been impossible to get a home loan. All that was left for you to do is to wait for a couple of years until things would get back on the right track. Fortunately, things have changed in the meantime, since there are many bad credit home loans to choose from. Nonetheless, even if it is possible to get a home loan with bad credit, you should still do what it takes to obtain the best possible offer for your situation. We consider the following tips […]

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How Bad Credit Affects Your Chance of Getting Loans

Getting a loan is difficult and stressful enough as it is; so imagine throwing bad credit into the mix. You do not receive as many options, and the “penalties” are usually hell on earth. It’s like they are trying to get you in even more debt than you already are. Therefore, if your credit score is anything less than perfect, then your luck may be running out. If you are stuck with bad credit, it is very easy to fall into a very expensive trap from lenders. With just a little bit of research, you may actually be able to […]

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Where to Find Funding Options If You Risk Bad Credit

  Having to deal with bad credit won’t affect only your financial records, but it can also pose a serious threat when you’re trying to get a loan approved. Luckily for you, bad credit loans are the way to go if you’re struggling with denied applications from banks. In some cases, your credit score may go down due to bankruptcy, medical expenses or even because you simply don’t have any credit history. Although conventional lenders might deny you a loan, bad credit loans will help you get back on track. Bad credit loans are suitable for: Car loans If you’ve […]

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Unconventional Ways to Raise Your Credit During Emergencies

  A poor rating will prevent you from getting a home loan approved. Also, you won’t have the opportunity to receive a lower interest rate. Learning how to raise your credit score is becoming more and more common amongst Aussies who don’t have the time to rebuild their rating over a couple of years. When time is not on your side, you may have to look into extreme ways that could boost your credit rating and make you eligible for receiving a loan. Let’s see how you can raise your credit score fast! Take on a Loan Applying for a […]

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How to Deal With Bad Credit if You Are Renting

  A bad credit rating will cause all sorts of problems, from getting your car loan denied, to the impossibility of getting a mortgage. Moreover, you will even have some issues when you’re looking to rent an apartment. Nowadays, landlords will check your credit score history before giving you the apartment. They’ll want to see if your finances are in order and if you have a good credit rating. This will tell them whether you can make the payments on time or not. In case you have a bad credit and can’t manage to close the deal on a rental, […]

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How to Avoid Being Scammed With a Bad Credit Loan

  Many people turn towards bad credit loans because they don’t have an optimal credit score to apply for a standard loan. Unfortunately, more and more Aussies get scammed by fake lenders that promise a certain loan, in exchange for some charges. There is a number of fake loan offers on the market, and figuring out which ones are legitimate or not is quite difficult. The process used by scammers is remarkably similar to the one employed for regular bad credit loans. So, you should keep an eye out for the following signs: Pay attention to the way in which […]

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