How to Plan a Dinner Party on a Budget

How to Get a Divorce with No Money

How to Get a Divorce with No Money

How to Get a Divorce with No Money?

When you think of what would happen when it comes to arguing an asset and children responsibilities at a court, you mutter, “I need money now”. Yep! Divorce is expensive but you shouldn’t go on with the bad marital life, because it is pretty unhealthy for yourself.

The good thing is that you can do all these with no money.This article gives you the complete guide on how to achieve something like that.

Don’t let the money to hire a lawyer make you stay low-key. You shouldn’t be scared to take the bold move out of your irrevocable marital disjoint because you don’t have money to get your marriage documents from the local registrar and issue your petitions at the court.

Being short on cash presently is no problem as you can borrow personal loans. You’ll be expected to pay back in installments, or later. There are many online lenders, and they can provide you with various loan options.

Choose any of the options (the one that’s best for you). With most online lending platforms, you can take out installment loans, mortgage loans, etc. But at first, you have to know what you need the money for.

Basically, you need funds to get your marriage documents -like your original marriage certificate; to issue your petition, and to hire a lawyer to represent you at a court.

When it comes to bigger issues at the court, you and your unbearable spouse argue on the debt, assets, and children responsibilities (that’s if your situation fits). Monetary support is needed to win on such debates without being hurt.

So let’s discuss how much it’ll cost you to get a divorce. At first, to get your original marriage certificate from a local registrar would cost you around $5 to $15 (the price varies with states). It looks cheap but it is part of the big budget of the divorce.

Going to the court, to issue a petition at divorce, it costs around $10000 to $20000 (the price varies from state to state). And getting a lawyer is another big monetary issue. To hire a lawyer for a divorce, it costs above $10000.

These numbers are what stops many people to get a divorce, despite the fact that they want it. But for now, this shouldn’t be our story as we should discuss how to get the loan to achieve such a thing.

How Do I Get a Divorce with No Money?

It’s simple. To get a divorce with no money, you need to take out personal loans online. You know! There are online lenders across the internet.

Without leaving the comfort of your bedroom, even while your spouse is in there with you, you can apply for a personal loan with your phone, without him/her knowing. It’s quick, private, and easy to get.

But there are issues you need to bear in mind in spite of what’s said about taking out a loan from an online lender. Beware of online lenders that seek upfronts before they can grant you a loan. Ensure you consider the legality of the online lending website.

Is the online lending website licensed by the government of your country to do business in your country? You can confirm if such a website is legit by contacting the Department of Finance of your state. Whatever the Department says will determine if you should take out a loan from the platform.

When it comes to taking out a loan from the platform, beware of your credit score. Perhaps you’re on a bad credit score and this can stop you from getting a loan. Most lenders are strict with the credit score as they believe a borrower with a bad credit score will find it difficult to pay off the debt.

Don’t you think you need to improve your credit score before taking out the loan? And how do you improve your credit score? If you have a debt left unpaid, it’s advisable you clear your debt before taking out the loan. By doing that, you’ll get your loan approved on time, without a delay.

You may wonder: “Why isn’t it advisable to seek a loan from conventional banks?” There is a reason surrounding that. Think about the social stigma attached to taking out a loan, and also think how much worse the stigma attached to taking out a loan to fund a divorce could be!.

Taking out such a loan should be done secretly without people knowing of it, right? And to do get such complete privacy, you have to take out a loan from the internet, not from a conventional bank.

How to Get a Lawyer for Divorce with No Money?

Now, let’s talk on how to hire a lawyer. Before taking out a personal loan from an online lender, meet your lawyer, negotiate how much his service will cost, then proceed to take out your loan. With the personal loan taken out from an online lender, you should be able to hire a lawyer for the divorce with no money on you.

But putting the costs of getting your marriage documents in place, issuing a petition at court, and hiring a lawyer, the amount seems huge. Such a huge amount of money can be difficult to take out from your online lender. Ensure you have a good credit score before seeking such a loan. With a bad credit score, most online lenders can and will reject you.

If you have a poor credit score, improve your credit score. On your credit cards, keep your balances low. Huge debts left unpaid can influence your credit score. Try to consolidate (reduce or erase) such debts. Doing these, you are going to improve your credit score and you’ll find it easy to take out the loan.

Besides that, such funds attracts high-interest rates, which you should reduce at all cost because you’ll be alone to pay off the debt after the divorce. To reduce the interests, ensure you take out a secured personal loan that requires a collateral. With the latter, the interest on your debt will be reduced.


How to Plan a Dinner Party on a Budget

How to Pay for a Funeral with No Money

How to Pay for a Funeral with No Money

How to Pay for a Funeral with No Money

So, your relative is dead and you need to host a funeral for the person. It’s time you realize that a funeral can be expensive. Sadly, the deceased person never told you he would die; so, it’s an urgent responsibility you didn’t expect.

You’re not the first person it’ll happen to. Every single person never prepares for anybody’s death. But the difference comes in when we are short on cash (with no money to pay for the funeral). And that’s the reason for writing this (how to pay for a funeral with no money on you).

That may sound incredible but as this burial comes with urgency, seek out personal loans online. With the loan, you will be able to pay for the funeral, despite the fact that you’re without money. You’ll pay back the loan later, either in installments or a lump payment.

Don’t rush to take out a loan without a plan for it. I know you need money now but before you pick up a phone to seek a loan online, know how much money it’ll cost to host the funeral and whether you can pay back the loan or not.

Funeral service costs range from the funeral home costs, cemetery and burial costs, to the memorial service costs. The costs of a funeral service can be summed up to be around $10000. It includes the basic service fees of $500, the embalming cost of $800, and the cost of setting up the funeral home.

Moving the remains to the cemetery needs a considerable fund for the burial plot, casket, and transportation. The burial ground costs around $1000 and the casket is around $2000.

Every worker, most especially low-income earners are eligible to pay a certain cut of their income to the Social Security Agency. So when they retire or die, either them or their relatives can claim a social security benefit.

How Much Does Social Security Pay for a Funeral?

It would be of great help if the deceased is a social security recipient. His surviving spouse or child can claim a social security benefit, which is in two ways. One, a lump-sum death benefit of $255 and the second is an ongoing monthly death benefit called a survivor benefit.

Regrettably, the social security death benefit is currently a small payment of $255, and that’s even if the deceased’s social security work credit is good. In spite of the fact that the payment is small, surviving family members should claim it. It can be of a monetary relief as it can be used to consolidate the loan taken out to fund the funeral.

If the deceased is your spouse or parent, you’re eligible to claim the benefit. Visit a local social security office and claim the pay. The staff will help you out with the paperwork, and you’ll be paid the benefits.

It’s advisable you add the pastor’s honorarium to your budget before you take out a loan online.

How Much Should I Pay a Pastor for a Funeral?

Most pastors believe that their salaries cover all their services (including funeral services), so they do not take fees. Besides, people do not make such demand on those that grieve. Nevertheless, you should give your pastor some bucks, at least for their travel expenses.

Such payment can be likened to be an honorarium (pastor’s honorarium), of which any amount within the range of $200 to $400 is reasonable. The money can be paid either by check or in cash put into an envelope, accompanied by a note of gratitude for his great contribution to the funeral. The envelope should be given to the pastor in person, not to the pastor’s church, often before or after the funeral service.

How to Pay for Funeral without Life Insurance?

A deceased person, before he died, could have been life insured, because he could have seen it as a way of helping his loved ones (family) to cope financially after his death.

But unfortunately, if the deceased isn’t insured, you have to pay for the funeral without life insurance and that can make the loan repayment difficult for you because you’ll have to pay back the loan with your paycheck.

It’s advisable, as you’re responsible for funding the funeral, that even without life insurance, you should prepare an affordable budget. Take out a loan that you can conveniently payback.

Nobody will be there to help you when you’ll be beaten down with debts that you find difficult to pay off, so take a realistic look at the funeral budget, cut the costs, choose an affordable amount, visit an online lender, and take out the loan.

If you find it difficult to cut the budget, consider using a plain casket, instead of a burial vault, plot and interment fees as it can save $3000 or more. Launch a home funeral (if your state permits it), it saves the cost of renting a funeral home.

Also, consider a direct cremation; it’s cheaper, costs around $2000, no embalming, no viewing, and no visitation. It’s a remains disposition option, the body is cremated, a few days following the death, and without a funeral service (but the service can be done later). It’s the most affordable option to cut down funeral costs, it saves thousands of bucks.

How to Pay for a Funeral with Life Insurance

What if the deceased is insured? It’s a relief, as you don’t need to worry much about the loan repayment. It can be paid back without difficulty, so, take out a considerable loan, and have a celebratory funeral.

Be cautious. There are online lenders, good ones, and bad ones. Don’t be fooled. Beware of online lending platform demanding big upfront payment before a loan can be approved or disbursed.

Confirm if the potential loaner is authentic, visit or contact the Department of Finance in your state, check if the loaner is registered to do business in your country.

Before you seek a loan from an online lender, maintain a good credit score as it boosts the loan approval possibility. And if you have a debt unpaid, ensure you reduce or pay it off.

Conclusion

With all conditions reasonable, take out a loan; launch the funeral, despite the fact that you have no money on you. With the social security pay and life insurance benefit, pay off the loan in installments, or with a lump-sum.

Hope you find this article helpful!


How To Get An Apartment With Bad Credit

How To Get An Apartment With Bad Credit?

How To Get An Apartment With Bad Credit

How To Get An Apartment With Bad Credit?

When it comes to looking for an apartment for rent with your bad credit, you might feel a little stressed out for bad credit can affect the rental process in a major way. In fact, you may even be denied the rental of a specific apartment due to your poor credit score – even with perfect rental history and reasonable salary. If you’re dealing with bad credit and are afraid that the latter will prevent you from obtaining the apartment you desire, then keep reading – you have options! If you’re in need of a little extra money in order to sign your lease, an installment loan online for bad credit may be a good option for you.

 

7 Tips for Renting an Apartment with a Bad Credit

So, you’re attempting to rent your ideal apartment with a low credit score? Here are 7 top tips to help you succeed:

 

1. A Recommendation Letter

Your first step in obtaining the apartment you want is presenting your potential landlord with recommendation letters. Such a letter can come from several sources, including previous landlords, roommates or even your bank establishment. The objective here is to demonstrate that you are responsible and fully capable of paying your bills on time. Furthermore, your employer can write a letter informing your potential landlord of your stable revenue.

As a first step, this helps demonstrate to your potential landlord that you’re serious about renting responsibly. More so, not only are you easing your landlord’s mind, arriving prepared for your apartment appointment will increase your chances of creating a responsible impression.

 

2. Don’t Lie about your Credit Score

It’s important to be completely honest with your potential landlord. There are many reasons as to why you may have a bad credit – and you should take the time to explain the latter. Perhaps you made a poor financial decision previously, your credit utilization may appear very high or there might even be a mistake amongst your report! A landlord’s rules and requirements are not necessarily set in stone, as long as you can explain your situation and provide the supporting proof. Keep in mind that generally, this tactic works best when dealing one-on-one with an individual landlord rather than trying to rent with a large management company.

 

3. Paying Upfront can go a Long Way!

As you probably already know, having a low credit score presents potential risk to any provider – landlords included. In the case of renting an apartment with a bad credit rating, it is possible that you be requested to pay a security deposit.

You can also consider signing a month-to-month agreement or a three-to-six month lease. If you have a poor credit score, your potential may feel comfortable knowing that they “have an easy way out” in the case that you don’t pay as agreed. Requesting a 12-month lease can be done later on, once a relationship has been established with your landlord.

In certain cases, it may be possible that you be requested to pay a higher per-month fee. In all such scenarios though, paying a little more can go a long way – let’s face it, you just may be signing your dream lease!

 

4. Rely on a Co-Signer

You can always can always call on a little back up if all else fails: a co-signer. The important thing here is finding someone who has a good credit score and who is, of course, willing to take responsibility in the case you struggle paying for rent. By having a co-signer, your potential landlord may feel there is less risk in signing a lease with you.

 

5. Discuss Automatic Payments

Insider tip: Landlords adore receiving rent payments automatically. You can offer your potential landlord to set-up automatic payments for the first of the month when it comes to rent. In other words, your landlord’s bank automatically deducts a specific amount from your bank every month. This can usually be completed online, however, you can equally offer post-dated checks for the duration of your lease.

If you’re choosing this route, keep in mind that demonstrating a responsible payment track record is very important. If you’ve had many difficulties paying on time in the past, you landlord may remain reluctant in signing a lease with you. However, if you come prepared with proof of a steady income, you’re definitely increasing your chances.

 

6. Have a Savings Account

Now, at first glance, this may seem unrelated, however having both a checkings and a savings account is actually very important. When it comes to dealing with a low credit score, having a big salary doesn’t always cut it. Being capable of proving to your potential landlord that you have money set aside is a huge plus and can really set your landlord at ease, seeing you as less of a risk. If you don’t already have a savings account, it’s a good idea to start building one as soon as possible – and to keep building it long term!

 

7. Search for an Apartment without a Credit Check

One of the easiest and simplest ways to sign a lease with a landlord when facing a poor credit score is to search for an apartment landlord that doesn’t perform a credit check. If this is what you’re looking for, aim for apartments owned by individual renters. Such landlords have less of a tendency of performing credit verifications and usually more willing to take a risk in order to fill their apartment complex. On the other hand, large management companies are generally harder to deal with and performing a credit verification is much more standard.


How To Get A Car Loan With Bad Credit

How To Get A Car Loan With Bad Credit?

How To Get A Car Loan With Bad Credit

How To Get A Car Loan With Bad Credit

Obtaining a car loan with bad credit is nothing short of difficult – but it is totally possible. Remember that you have to go into the process with the right facts in mind: You’re going to be paying higher interest than someone with a good credit rating. However, don’t let that come as a discouragement just yet – bad credit installment loans online with guaranteed approval can possibly come to the rescue!

 

Buying a Car with Bad Credit

It’s time to look at the detailed procedure of obtaining easy car loan approval with bad credit in order to finance your next vehicle!

 

1. Verify your credit score

So, you’re thinking about purchasing a new vehicle? Before anything else, check your credit score! Even if you’re still months away from physically purchasing the car, you definitely want to start cleaning up your report before requesting a loan. By doing so, you’re certainly going to improve your chances of being accepted for said loan under good terms. In order to “clean up” your credit report, you need to pay off late accounts, discussing credit errors and increasing the positive information found within your report.

 

2. Improve your bad score

Another reason why verifying your credit score right from the start is in order to visualize exactly what needs improving. It’s actually possible to find credit errors dispersed throughout your credit account and it’s important that you  dispute these. In general, you should give yourself a 30-day grace period in order to have these mistakes looked at and fixed if necessary.

On the other hand, if your credit rating isn’t that bad, then cleaning up is in fact still a good idea. As we mentioned in an earlier article, a good credit rating is market at 700 or higher and by cleaning up your credit account, you just may get pushed over that line!

3. Know Your Budget

Like with everything, being well aware of your actual financial budget is a must. Knowing exactly how much you can spend per month on a vehicle will give you a better idea of what car models you can start looking at and which ones you should stay away from. You can also go deeper into your research by looking at average auto loan interest rates and the car’s cost – this will provide you with a better basis for negotiation.

As you can already start to see, purchasing a car and obtaining a car loan are not out of reach, even if you are dealing with bad credit. Just make sure your using your time wisely!

 

4. Think about having a co-signer

One of the simplest ways to be approved for a car loan with bad credit is through the use of a co-signer with good credit. In the eyes of a lender, a co-signer decreases the risk of lending to someone with bad credit. Although your co-signer is definitely assuming responsibility by signing for a car loan with you, you may actually be capable of obtaining a better interest rate!

 

5. Get  pre-approved car loan

Sometimes, it becomes easier and more realistic to car shop with a pre-approved loan. When discussing with your bank or credit company, don’t forget to question the possibility of taking the pre-approved route. However, this isn’t always possible and if this is your case, you can always discuss different options with your car salesmen. They may have further information on who, or where, you can contact a lender who works with buyers dealing with bad credit.

 

6. Take the time to negotiate!

Let’s face it – you’re not alone in this world with a bad credit score and this is a good thing for you! In other words, you don’t always have to settle for the first “deal” that comes your way. Saving money is possible if you take the time to negotiate a little, especially when it comes to interest rate, annual percentage rate, loan length, repayment penalty and even other additional fes.

 

7. Put money aside for your down payment

A down payment can help in many ways – especially if you can afford one. First of all, not only does this cash go directly towards decreasing the total amount owed on your vehicle, this money is equally interest free. Furthermore, your lender will definitely take your down payment into consideration when weighing the risks of providing you with a loan – even if you have bad credit.

Moreover, the down payment will reduce the size of your monthly payments and can even be the deciding factor in obtaining the car loan that your looking for!

 

8. Say “NO” to the extras!

Alright, if you’re dealing with bad credit, you might have to make a few sacrifices. When applying for a loan, you may not be approved for the highest possible amount and therefore, certain features such as leather seats, a sunroof and air conditioning may have to be crossed off your list. Keep in mind that because of your poor credit, you’re already facing a high interest rate so make sure you know how to say “No” when need be.

In the end, you can buy a car with bad credit if you follow the above steps to the T. Keep in mind that looking at all your options, fueling up on important research and refusing extra add-ons can really save you good money when it comes to purchasing your vehicle. Whether you’re dealing with bad credit or not, budgeting your finances properly and being fully aware of what you can genuinely spend is the first step in purchasing your new ride intelligently.


Can An Online Payday Loan Take You To Court

Can An Online Payday Loan Take You To Court?

Can An Online Payday Loan Take You To Court

Can An Online Payday Loan Take You To Court?

Known as payday loans online, deferred deposit loans or check advance loans – such are all short-term loans ranging anywhere between $100 and $1000 that appeal to individuals facing a difficult financial situation, offering them a quick fix until their next payday.

“Defaulting” on a loan, otherwise known as missing a payment, can bring about many different consequences including automatic withdrawals from your chequing account, bounced checks or payments, NSF (Non-Sufficient Fund) charges. This payday loan will affect your credit rating, can lead to repetitive calls from collection agencies and even worse – a lawsuit.

So, Can A Payday Loan Take You To Court?

Facing an overdue amount – no matter how small that amount may seem? Then chances have it that you’ll be taken to court for a lawsuit. It is important to keep in mind that no amount is ever “too small” to be neglected. More so, once the court judgement has been decided, further and even bigger problems can come to be, including property seizure. In most places in the states, a judgement is viable for ten years and therefore, any property you may put your hands on over the next ten years can be used to repay your debt and any additional fees that have accumulated over time.

Request Help Prior to getting Sued

If you know that you aren’t going to be capable of making your payments on your payday loan online, then your best option is to start looking for help before you ever even get sued. No matter what amount you are dealing with when it comes to your payday loan online, you should never tell yourself that such isn’t important enough. If a court order is what ultimately encourages you to take action, then we’re here to help you get through that, too!

Lawsuit For Unpaid Payday Loans

While a lawsuit for an unpaid payday loan is not just possible but actually probable, threatening or harassing someone with arrest or jail time for not paying back said loan is in fact illegal under the Fair Debt Collection Practices Act. In many scenarios, the lender will pretend to be a law enforcement officer or government agent in order to request their cash, alluding to possible jail time. In the case that you are threatened, you should contact the office of your state attorney general, as suggested by the Consumer Financial Protection Bureau.

Remain cautious though, for certain payday lenders have actually succeeded in using bad-check laws to successfully file for criminal suits. For this reason again, it is best to never ignore a court judgement because such orders are legitimate when it comes to failing to repay a loan.

Court Judgement

Just a small word of advice before we continue: Never, ever ignore a court judgement. Not showing up in court in order to discuss your settlement plan will only make matters worse – much worse, seeing as the creditor can now sue with the legal system on their side!

On a lighter note, failing to pay back a payday loan online is not considered a criminal offense and therefore, you can’t be sent to jail. However, the fact remains that a payday lender can still take you to court and cause you quite a bit of hassle.


Do Payday Loans Affect Your Credit Rating

Do Payday Loans Affect Your Credit Rating?

Do Payday Loans Affect Your Credit Rating

Do Payday Loans Affect Your Credit Rating?

Protecting your credit score is a big deal – especially if you’ve worked hard in managing your finances and building your rating. One of the biggest questions when it comes to payday loans online is whether or not such can affect a person’s credit rating.

Now, why such a question? Well, a negative credit score can leave you facing several other problems – including struggling to obtain future credit. Furthermore, obtaining a personal loan online, financing an engagement ring, getting a car loan and even requesting a bank overdraft with bad credit can all become difficult if dealing with a poor credit rating.

Do All Lenders Verify Credit Score?

If you are dealing with a regulated lender, chances are they’re going to verify your credit score. In general, this is either completed through a “soft credit check” which doesn’t affect credit score or a “hard credit check” which, on the other hand, leave a mark on your rating. In other words, a soft check gives a lender a good idea about the risks in lending money to you while a hard check provides a definite answer.

Do Payday Loans Online affect Credit Score?

Although we often talk about Égood” or “bad” credit scores, a credit rating is in fact much more complex. Overall, your credit score is based on your personal financial history and experiences. In other words, it is actually possible to have a negative credit rating simply because you haven’t had the opportunity to use credit just yet. This is often a situation faced by young applicants who have not yet had the time to prove their creditworthiness through debt and expenses.

You can also improve your credit score by a reasonable amount if you continuously make minimum payments alone. This occurs because you become an attractive prospect to lenders: You pay interest on borrowed money while continuing to meet your financial responsibilities.

Negative Effects of Payday Loans on Credit Ratings

Missed payments and defaults, otherwise known as missing a payment on a payday loan, causes the biggest negative impact on your credit score.

First of all, as with all debts and financial commitments, missing a payment negatively demonstrates your ability to responsibly and effectively manage your financial commitments. More so, missing payments can also indicate financial problems, causing harm to future scheduled payments as well.

Not paying your payday loan online back, whether by choice or because you can’t afford it, the negative marks on your credit report will quickly add up. Such marks, or defaults, remain on your credit file for at least six years, starting from their issue date. In other words, not repaying a payday loan online can affect how lenders evaluate your creditworthiness for over half a decade.

Keep in mind though, that is situation doesn’t uniquely apply to payday loans online.

Does the Application Process have an Impact on your Credit File?

Generally speaking, if a lender performs a soft credit check in order to evaluate your application, then no, such a verification will not directly affect your credit score like the hard check would. However, remember that a soft credit check is still marked on your credit report.

According to Experian, it is actually possible to have numerous soft credit checks on your report and such still wouldn’t have an impact on your credit file. This is because soft credit checks are not visible to other companies and therefore, don’t send out any indication of how many applications you may have already made.

On the other hand, a hard check remains on one’s file for up to 12 months and is completely visible to other credit providers or companies in the future who may equally perform their own verification.

In most cases, one application for a payday loan online, at the maximum two, is generally understandable. However, if you’re applying with several payday loan lenders then the marks on your credit score will quickly add up. Upon your next application, the potential lender will take note of the application trail and consider you of higher risk due to your numerous loan applications.

Aside from indicating to potential payday lenders that you are at risk and in desperate need of a financial loan, multiple applications can also indicate that other lenders have rejected your request. In other words, as a lender, it would be much more difficult to offer a financial solution knowing that the borrower is at high risk of not having the capacities to pay back the loan.

How Can you Reduce the Impact of Payday Loans on your Credit Score?

First of all, only apply for a payday loan online if this is absolutely necessary and all other options have been exhausted.
Secondly, you should be weary of how often you go about applying for such loans. Generally speaking, most lenders suggest waiting a minimum period of three months prior to requesting another payday loan online. Not taking risks is extremely valuable – if you want to increase your chances of acceptance, than make sure you’re following the basics from the get go. In all cases, don’t wait for rejection before taking action!

Summary

Your credit score defines how exactly you’re managing your finances – both over time and in the present moment. A payday loan online is an easy way to obtain quick money for short term financial problems. Keep in mind though that any type of credit can be used for or against you – improving or destroying your credit score.

Many factors can contribute to a negative credit rating, including missed payments on a credit card or even on a phone bill. If you’re looking to increase your credit score, then regular and successful payments on any type of short-term loan can be beneficial – especially when it comes to less costly financial solutions in the future.

How exactly a potential lenders views all this information is up to them and cannot be predicted. Prior to proceeding to any form of payday loan online request, make sure you obtain a copy of your credit report in order to make sure you know what things look like before doing so!


Can I Get A Payday Loan After Bankruptcy

Can I Get A Payday Loan After Bankruptcy?

Can I Get A Payday Loan After Bankruptcy

Can I Get A Payday Loan After Bankruptcy?

A payday loan online following bankruptcy – is this even possible? In short, yes. However, it is important to keep in mind that doing so will take both time and effort seeing as a bankruptcy negatively affects your credit rating for years to come. However, more challenging than even obtaining a payday loan online is finding a potential lender that doesn’t charge exaggerated interest rates with difficult terms.

If you’re looking to help increase your credit score through a payday loan online and using such to make your payments on time and in full after filing for bankruptcy, then planning, preparing and organizing for a a post-bankruptcy loan accordingly is of extreme importance in order to increase your chances of acceptance.

Getting A Payday Loan After Bankruptcy!

A Federal Reserve study concluded that, “Ninety percent of individuals have access to some sort of credit within the 18 months after filing for bankruptcy, and 75% are given unsecured credit” which demonstrates that genuinely obtaining a loan following bankruptcy is in fact less challenging than expected. More so, approximately 20% of the studied group successfully accessed a loan after bankruptcy. This is most likely due to the reasoning that once a borrower’s debts have been erased, their debt-to-income ratio will have improved, which is one of the main factors that a potential lender looks at when assessing risk.

Types of Consumer Bankruptcy

Consumer bankruptcy comes in two forms: Chapter 7 and Chapter 13. Both have different impacts and effects on your credit rating as well as on your chances of post-bankruptcy loan approval.

Chapter 7 Bankruptcy

First off, what is Chapter 7 bankruptcy? Here, you’re obliged to sell certain of your assets in order to pay back eligible outstanding debts. Generally speaking, a Chapter 7 bankruptcy provides more of a “clean slate” than does Chapter 13. However, according to myfico.com, Chapter 7 can remain on your credit score for up to ten years or even longer.

Following discharge from Chapter 7 bankruptcy, it may be more difficult to obtain a loan than with Chapter 13. This happens for a couple reasons. Because you don’t have to deal with a repayment plan, your file may appear less favorable to a potential lender.

Keep in mind that after bankruptcy, there’s no need to wait the complete ten years before improving your credit score. You can help decrease the impact of your Chapter 7 bankruptcy by incorporating good credit habits right away and holding on to them as your bankruptcy moves further into the past. The sooner your start building and improving your credit rating, the better your chances at obtaining a post-bankruptcy loan.

Chapter 13 Bankruptcy

We’ve looked at Chapter 7 bankruptcy, which erases all eligible debts, however, a Chapter 13 bankruptcy demands for a reorganization of both debts and income.

Through the court system, a 3-5 year repayment plan will be implemented in which you will have to make monthly payments to a trustee who then distributes the latter to the creditors who have filed a claim against you. Contrasting Chapter 7 bankruptcy, Chapter 13 doesn’t oblige the person to sell any of their goods or personal property in order to pay the debt off. In most scenarios, a person will primarily choose Chapter 7 bankruptcy initially but will opt for Chapter 13 if they don’t meet the eligibility requirements for the former.

Although initially, Chapter 13 bankruptcy looks a little more difficult to deal with – notably due to the monthly payments – it actually has a plus side. Chapter 13 bankruptcy doesn’t remain on your credit record as long as does Chapter 7 bankruptcy. More so, Chapter 13 bankruptcy doesn’t affect your credit for an entire 7 years. Establishing positive payment history and hence increasing your credit score becomes possible if you succeed in obtaining a loan during your bankruptcy repayment period.

When to Apply for Payday Loans after Bankruptcy

You can start looking at a loan immediately after your bankruptcy discharge – even though bankruptcy may remain on your credit report for the full ten years. Certain potential lenders are more open and willing to work with individuals who have this file type. Chapter 7 bankruptcy means that all your debts are paid back, you don’t have regular payments to keep up with, however the bankruptcy still remains in your history for an entire decade. Derogatory credit history including bankruptcy filing though influences your credit score every passing year.

For Chapter 13 bankruptcy though, repaying some or all of your debts is mandatory, usually over a 5-year period, sometimes 3. This form of bankruptcy is generally considered less damaging to your credit report and is displayed in your credit history for 7 years. While still paying your Chapter 13 bankruptcy, you have full rights to apply for a payday loan.

How to Prepare Your Loan Application

Are you interested in obtaining a payday loan online after bankruptcy, then you need to present yourself and your situation in the best possible light.

Obtain a Copy of your Credit File

Equifax, Experian, and TransUnion are the three credit bureaus of which you can obtain a free copy of your credit report once every year. Once in hand, make sure you’re verifying that all information is exact and up-to-date, equally make sure that your file is void of mistakes. For example, in the case of Chapter 7 bankruptcy, make sure that all your eligible debts were included and that such now display a zero balance. In the case of Chapter 13 bankruptcy, it is important to verify that all your payments are being applied in the right places.

Don’t hesitate to file a dispute if any mistakes appear on your credit report. Such can be corrected or completely removed if necessary, improving your credit score as a whole.

Verify that your Income is Correct

In many cases, providing proof of stable and sufficient income can greatly increase your chances of obtaining a loan, especially since credit score and history are only 2 of many factors that are taken into consideration when applying for a payday loan online.

Keep in mind that reportable income is based on actual and current income and therefore, if you’ve recently been given a raise, this should be included in your calculation. If you have access to any other forms of income, such as a spouse’s income or a salary you’re earning from a side business, then make sure you’re including this too. You can head over to your appointment with all the needed proof in hand: pay stubs, bank statements, a W-2, and tax returns.

Don’t Hesitate to Fight for your Case

Even if you application receives a refusal right away – don’t lose hope just yet. You can fight for your case. Explain what led you to declare bankruptcy in the first place and place an emphasis on your commitment to building and maintaining strong credit abilities. Although this doesn’t guarantee that the refusal will be overturned, it does however increase the chances of such.


How To Protect Yourself From Payday Loan Scam Calls

How To Protect Yourself From Payday Loan Scam Calls?

How To Protect Yourself From Payday Loan Scam Calls

How To Protect Yourself From Payday Loan Scam Calls?

When facing a financial emergency where you feel there is no way you, a payday loan online can become pretty tempting. Of course as many of us already know, such loans come with higher interest rates because of short repayment periods – but that’s not the worst of it. There are some individuals out there that claim they can get you a loan if you pay a deposit first. No reputable lender will ever ask you to pay a deposit on your loan in advance. Please make sure you understand that any one contacting you to do this is a scammer.

Defining a Payday Loan

Let’s begin with the basics: A payday loan is a small, short-term loan that usually ranges around $1000 or less. The funds are typically deposited within your account on your upcoming payday.

Payday loans are generally obtained from a brick-and-mortar payday loan store and ever more popularly, from an online lender. The online method is of course growing in popularity for its ease of convenience. Instead of having to move around and locate a store, you can simply find a payday loan lender and fill out an application through searching online. As easy as 1, 2, 3!

Generally speaking, qualifying for a loan is relatively easy, especially if you can demonstrate a good industry specific credit score or a steady source of income. Here is a list of certain informations that your potential lender is most likely request from you:

  • A bank statement indicating regular money deposits;
  • Your Social Security number;
  • A checking account (bank) number;
  • Your bank account’s routing number;
  • Typically a non-Industry specific credit check
  • Your phone number.

In many cases, your credit score isn’t even taken into consideration but industry specific scoring is from companies like Factortrust, CLVerify, or DataX.

Once the first step of loan approval has passed, you’ll move onto signing a contract with your said lender. Once completed, the requested money is deposited directly into your bank account. Loan repayment is equally pretty simple: You must ensure that you have the money in your account before payment day for your lender will perform automatic electronic withdrawals from your bank account.

Financial Scams surrounding Non-Existent Payday Loans

Here’s how a typical scam plays out:

  1. You receive a phone call from a scammer posing as a payday loan collector.
  2. You’re then accused by the fake collector of failing to repay a payday loan.
  3. The scammer threatens to sue if you don’t immediately transfer a payment, provide a bank account number or a credit card number.
  4. The scammer may also pose as a law firm or government agency and in this case, may threaten to deduct funds directly from your salary.

Keep in mind that a scammer can implement many different intimidation techniques, including threatening to inform your family and friends of your financial difficulties or scaring you with arrest if the debt isn’t paid off in full.

Of course, the bottom line is that you haven’t taken out a payday loan and therefore owe nothing at all. However, sometimes the scammer can be so convincing and threatening that certain individuals panic and perform the payment.

How Can I Avoid Falling into the Traps of a Scammer?

To begin, always keep in mind that despite not having taken out a payday loan, a scammer may still contact you, posing as a loan collector, law or government agent. If you’re looking at how you can avoid falling prey to one of these adept scam artists, consider the following tips:

  • If you believe you’ve been contacted by a scammer, make sure you file a complaint with the Federal Trade Commission and your state Attorney General’s office.
  • If in doubt, never provide and personal, financial or confidential information over the phone. In most cases, the scammer attempts to get you to pay immediately – so don’t pay a dime unless you know the debt is genuine.
  • Demand a written confirmation prior to paying any debt. A scam artist will most likely refuse.
  • Turn the tables and obtain the caller’s information instead: Request their name, company name, street address and telephone number. If such information is refused, you can rest assured that the person on the line is most likely a scammer. If the caller actually provides the requested information, take the time to give them a search online to discover whether or not their legitimate. Start by looking at the Better Business Bureau!

In the end, financial scams stemming from non-existent payday loans are real and cause quite a problem if you happen to fall prey to one of them. However, if you keep the above information in mind when it comes to dealing with possible scam artists, then you’re increasing your chances of staying far away from the problem!


How To Get Approved For A Payday Loan Online

How To Get Approved For A Payday Loan Online?

How To Get Approved For A Payday Loan Online

How To Get Approved For A Payday Loan Online?

When facing a financial emergency where you feel there is no way out, getting approved for a payday loan can be of great help. Despite being known for their high interest rates, such loans provide quick and easy cash when in urgent financial need. This may come as a surprise, but payday loans online are in fact quite popular among specific borrowers!

Generally speaking, payday loans have high approval rates when compared to conventional bank loans. Furthermore, a payday loan is typically approved within a few hours and funds almost immediately deposited into your bank account sometimes in as little as 24 hours. That all sounds great, right? Well, it’s equally important to keep in mind that many requests are in fact rejected – it all comes down to the individual criteria.

7 Tips to Getting Your Payday Loan Approved

Are you in desperate need of a payday loan and looking to help ensure approval? Read on and take note of the following 7 top tips and tricks to increase your chances:

1. Demonstrate Reimbursement Capacities

Lenders will want to assess your level of risk before even thinking of providing you with a loan and one of the methods they do so is by ensuring that you can reimburse the payday loan. Moreover, the total amount of the said loan often goes hand in hand with your reimbursement capacities. You can demonstrate your ability to repay a personal loan through proof of incoming or the use of a cosigner.

If you choose to go with a cosigner, make sure you are choosing a responsible individual, who has good credit score and is aware of the risks. If you fail one of your scheduled payments, your loan provider will request the sum from your cosigner. Furthermore, your cosigner will equally have to demonstrate their reimbursement capacities through proof of income. In many cases, having a cosigner can help ease a lenders worries in terms of lending to someone with a riskier credit report.

2. When Applying, Don’t Lie

When it comes to requesting a payday loan online, nothing good comes of lying. In fact and in most cases, your lender will probably discover your lie and you’ll ruin any chances of ever getting accepted for a loan in the first place. Keep in mind that your problem won’t necessarily end there – your potential lender can also warn other professionals in the field, keeping you from obtaining a loan from others as well.

To avoid any of the latter problems, provide only absolute, honest and correct information in terms of your application.

3. Be Timely with All Requests

Your lender is guaranteed to request certain information on your behalf, including certain documentations. Make sure that all requests are fulfilled in a timely manner, including providing the requested papers and forms. Your loan application process depends on such documents, and such can be delayed or stopped altogether if you fail to fulfill requests on time.

Read the loan application carefully and be sure to attach all requested documents. Even after this is completed, it is still possible that your lender requests additional information and this too has to be provided as quickly as possible.

4. Positive Credit Rating

Alright, before you start freaking out – no, your credit score isn’t the biggest factor when it comes to obtaining a payday loan. But let’s face it – a positive credit rating can definitely go a long way.

When it comes to a lender, you know they’re performing credit checks – even if advertising that credit and ratings don’t matter. As you know, a higher credit score increases your chances of approval so, keep an eye on your credit report, reimburse due payments, dispute any errors and keep your score above 760. Above and beyond this number, you can rest assured knowing that your report is in good shape. However, anyone under the 490 range has some work to do – for this score is considered rather negative.

5. Work Towards Improving your Score

So, you’ve got a bad credit score: 490 and under. Don’t panic. A bad credit score can actually be improved within the matter of months if you work towards bettering it in the right way. Start by paying down debt, paying all your bills on time and maintaining low credit balances. Of course, this takes a little time and a lot of commitment, but is definitely doable if you give it what you’ve got.

More so, keep in mind that although it’s best to work on improving your credit score before requesting a payday loan, sometimes emergency situations have it so that this isn’t possible. Obtaining a loan is still possible with a low credit rating, despite being slightly more difficult.

6. Search for Lenders who Accept your Credit Rating

As earlier mentioned, a poor credit score doesn’t impede you completely from obtaining a payday loan. In a financial emergency, you probably won’t have the needed time to improve your credit score and therefore, you’ll have to start searching for lenders that work with clients having a bad credit rating.

Every payday lender has their own set of requirements and many of them aren’t set in stone. In other words, certain lenders might not consider an applicant with a score of 600 and under while another lender will, as long as you can demonstrate repayment capacities.
Make sure you aren’t getting yourself into more trouble by falling into the hands of a loan shark. Always request payday loans from reputable and credible agencies.

7. Verify Your Debt to Income Ratio

If you’re looking to increase your chances of payday loan acceptance, then take the time to verify your debt to income ratio and request a reasonable loan. For example, if your total monthly income ranges around $2000, no lender will approve a $1000 loan. In fact, you’ll greatly increase your chances of acceptance if you’re only requesting a fraction of your income, in this example, perhaps $200 or a maximum of $400. Simply remember, the lower the request, the higher the chance.

In the end, when it comes to applying for a payday loan, there are many factors that come into play and many of such can increases your chances of acceptance. Keep in mind that lying for any matter in terms of your request won’t improve your chances – nor will lying about or exaggerating your monthly income. You’ll have to demonstrate stable income and therefore, part-time or freelance work is usually not taken into consideration.


Why Do You Keep Getting Denied For Payday Loans Online

Why Do You Keep Getting Denied For Payday Loans Online?

Why Do You Keep Getting Denied For Payday Loans Online

Why Do You Keep Getting Denied For Payday Loans Online?

If you keep getting denied for payday loans online, don’t take it too personally. After all, it’s just a computer on the backend making the decisions, right?

Much like a doctors warning in terms of high-cholesterol can be a patient’s wake-up call to leading a healthier lifestyle, loan rejection might just be the wake-up call needed to clean up your credit score if you keep saying to yourself: I need a payday loan but keep getting refused. Think of it this way: Being rejected for a loan may keep you far away from possible consequences in the future.

Common Reasons for Denying your Application

1. Having too many Current Payday Loans

When applying for a payday loan, one of the first thing a lender looks at is whether or not you can afford the loan. Part of the application process entails looking at your actual financial situation.

  • For certain lenders, rejection may be deemed fit if you’re requesting a loan to pay off another financial engagement.
  • You may equally be rejected if you’ve received more than one payday loan within the last 90 days
  • You can also be rejected if you are currently repaying a payday loan.

2. Your Salary is Paid in Cash

As earlier mentioned, lenders need to verify your current financial situation and therefore, being paid in cash can cause a few problems. If a lender can’t verify your income, you have high chances of being rejected. A lender will verify your bank statements and if you aren’t depositing your cash every pay cycle, then you aren’t leaving an online trace, making it impossible to check. If this is your case, then start looking for a lender who can verify your income through your payslips.

3. You’ve Filed for Bankruptcy

Lenders use a lot of information stemming from your current financial situation in order to determine the risk in lending money to you. Having filed for bankruptcy within the last year will most likely have your request stamped as high risk – and you might see yourself rejected. Don’t worry though – if you’re dealing with recent bankruptcy, there are other options for you.

4. You Have No Job

Let’s face it – without stable income, you’re likely to be rejected, for many lenders will question your ability to repay the loan in the first place. Sure, certain lenders may take the time to consider an unemployed applicant, however such an individual must still demonstrate a stable source of income – be it governmental benefits, work or otherwise.

5. Recent Overdrafts

A dishonored payment occurs when a creditor attempts to retrieve money from your account however, there isn’t enough money to cover the fee. If your bank account history displays a history of overdrafts, you’re more likely to be considered a risk and hence, your request rejected.

6. Attaining Minimal Requirements

Most lender’s have a specific list of mandatory criteria for payday loan acceptance on their website. It is highly recommended that you take the time not only to read such criteria, but to make sure that you meet such established standards. If you don’t meet the said list of criteria, you will most likely see yourself rejected by this lender.

Additionally, many lenders equally have an internal scoring system where points are provided in order to determine your eligibility for a loan. If your score isn’t ultimately high enough, this is another reason your request may be denied.

There Are Many Lenders!

Although this has to be completed properly and carefully, it is equally possible to apply for a payday loan from more than one lender. Acceptance criteria can vary from one lender to the next and therefore, despite a previous refusal, you still have chances of being accepted.

Avoid lining yourself up for repeated refusals and don’t keep applying if you have very poor credit score or a very high debt-to-income ratio. Always keep in mind that hard inquiries also directly affect your credit score in a negative way and the mark can last up to an entire year!

In Conclusion

If you’re facing a rejection for a payday loan – look at the bright side. Such a refusal can really give you the opportunity to carefully evaluate your goal and assess how you can obtain the funds in the quickest means possible. You can take advantage of this time to better your credit report and dispute any credit errors if needed. If you need the money right away, you can consider obtaining a payday loan from a different lender or start looking into different options altogether.