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Everyone wants to fulfill the great American Dream. Buying a comfortable automobile is a part of it. You can make living in America even more pleasurable by buying your very own car. When it comes to cars, auto loans are important. But, do you think your bad credit will make it impossible to get guaranteed approval on car loans? You are worrying for wrong reasons because you can get a car with bad credit. Here’s how you can convert your slim chances of getting a bad credit auto loan to instant approval. Wrong: Filling Applications Right Away You must never fill the auto loan application as soon as you feel the need of getting car finance. Actually, there are several things that you need to do before applying. We can divide every task related to getting guaranteed approval on bad credit auto loans into Pre-application tasks and Post application tasks. PRE-APPLICATION TASKS Know Your Credit Score/Payment History No matter the type of loan, every lender will want to know how you pay ...

When it comes to a personal loan, you have to first learn to use it responsibly. Because if you miss a repayment, your credit score will be impacted adversely. And remember, that a credit score is an indicator of how well you manage your personal finances. Also, it plays a defining role when you apply for any kind of loan – secured and unsecured. It is suggested to apply for a loan slightly larger than what is needed so that you will be assured to have enough money to pay all bills necessary and still have some money left over to ensure that your bank account stays current. A credit score can be defined as a number which reflects the financial situation of a person. If the person is well-off when it comes to financial matters, then he or she is said to have a high credit score. On the other hand, if a person is the exact opposite of this, then they possess a low credit score. There are a lot of factors that are considered by financial institutions for the purpose of evaluating a p...

Many people have been surprised to find that their credit is not so stellar. One such person is Liza. She is a young, single mom who had no idea how her bad credit would impact her ability to find a place for her and her son to live. As Liza began the process of purchasing her first home she found that she did not qualify for several loans because of her credit status. Her lender suggested that she repair her credit in order to qualify for a loan to purchase a house. Since Liza had no clue that her credit was bad, she had no idea how exactly she could repair her credit. In trying to understand exactly what is meant by credit repair, Liza turned to the internet to for information. She learned that credit repair is the process by which one actively works to make sure his or her credit report is completely accurate. This in turn, ensures one’s credit score is the best that it can be. It also describes the way one organizes his or her finances to eliminate debt and ultimately rebuild ...

After filing for bankruptcy several years back, I had to figure out what I needed to do to improve my credit score and have been diligently working toward this end ever since. Now, while still not perfect, my credit score has been improving ever since because I took the steps to learn about what I needed to do to improve it. In this article, I provide some of the steps I’ve taken and some of what I learned in my research to improve my own credit score. Your credit score determines the amount of interest you will pay for credit cards or other loans. This includes loans such as car financing and mortgages. There are also non-interest types of costs your credit score can have on your life, such as the cost of insurance; your ability to rent an apartment or secure utilities without having a co-signer; and in some cases it can affect whether you will be selected for a job. Increasing your score by just few points will make a big difference in your life overall, but mainly in the intere...

As With Anything Else Credit Cards Can Have A Bad Reputation Too Everybody is an expert at one thing or another, and what seems to stand out in my research on this topic is most of the experts on credit cards have never worked for a credit card company. Even those individuals that have seem sketchy. As for myself, I make no claims of being an expert on the subject. What you will read here is a synopsis of the information I have gathered. I will try to make this perfectly clear and subjective. At the same time, I should point out that there is little objective evidence to support most of the myths that circulate over the internet. First, let us address a question about debt and credit cards. In my research, the prevailing inquiry eludes to credit cards rewarding debt. The definitive answer is an emphatic “Kind of.” It is quite the opposite in fact and the reasons seem logical. The rewards one can receive with low or no debt are a wider acceptance for more credit, meaning it i...

According to previous credit bureau employees, the American credit reporting system is broken and no one is bothering to fix it. The wealthy have much more power than the poor or middle income population. The credit repair lawyers are trying to help the average person by making tools available to them that were formerly only available to the rich. Lexinton law credit repair service is just one of the many credit repair lawyers on the market, although there are many others that also perform the same services. Bad credit is expensive. For many years, the average person could not afford to pay credit repair lawyers to help them muddle through the bureaucracy that is the credit bureau. The rise in bad credit has also led to the growth of companies like Lexinton law credit repair. Reputable credit repair lawyers should focus on disputing inaccurate or misleading mars on your credit reports. These legal challenges may help improve your credit score, which can lead to a host of benefits...

When member service goes wrong, think “damage control”. A good recovery process can turn angry, frustrated members into loyal ones. It can create more goodwill than if things had gone smoothly in the first place. On the other hand, the failure to resolve the problem results in the member spreading their dissatisfaction to many other people. Think about the last time you had a complaint that was not resolved. How many relatives, friends and co-workers did you tell? Studies have shown that for every 100 dissatisfied members, 4 will formally complain, 91 will tell 8-10 others, and 5 will tell 20 others. That turns into over 800 people receiving a negative view of the credit union! Five Steps to Service Recovery 1. Apologize. Start by telling the member, personally and sincerely, “I’m sorry.” Members don’t care whose fault the problem was – they want someone to champion their cause. So sincerely apologize on behalf of the credit union and take resp...

Life is way too short for a bad credit score Let your car dreams soar! There are smaller things in life you never really care to enquire about. And why would you? There is so much going on in the world. Especially when you want to buy a car, you are so occupied with the selection of the car’s model; your eye gives credit score a miss. Don’t ignore your score because it might be the only reason you still don’t own the car. Start to improve your score today and earn your dream car! It is not a perfect world in which you can easily buy your dream car with cash. You need an auto loan to buy a car. Your credit score will ascertain your chances of getting an auto loan. A bad credit score may pose as a challenge but do not worry. It is a temporary issue. Don’t put your car dreams at rest. Allow it to soar. If Not Now, When? Your credit score is important. And you may not notice how much a bad credit score can affect your dreams until it’s too late. Don’t wai...

You probably have noticed that many companies are advertising services to settle your credit card debt. These companies are hard to miss if you watch television or read the newspaper. While the idea of debt settlement sounds great, in reality many of those companies are scam artists. There is a law in Washington that regulates credit card debt settlement companies. That statute defines “debt adjusting” as “the managing, counseling, settling, adjusting, prorating, or liquidating of the indebtedness of a debtor, or receiving funds for the purpose of distributing said funds among creditors in payment or partial payment of obligations of a debtor.” A debt adjuster is any person or business that engages in the business of credit card or home loan settlements for compensation. The Attorney General’s Office on Consumer Fraud and the Department of Financial Institutions enforce this statute. Violation of the Statute is also a per se violation of the Consumer Protec...

Discussing family accounts as a way to build credit, it was mentioned that people starting out will usually have student loans as their first credit account, unless they obtain a car loan or credit cards tied to a family member with credit history. Student loans are a tricky area of installment credit history because they are not looked on as favorably as you would imagine. You might think that having opened student loan accounts when you first went to college would show a history of the account, but in actuality, only when you start making your first payment will student loans count as “credit payment history.” Most student loans are in a deferred status as long as you are in school. Once you are out of school, you have one to four months before the companies begin asking you to make monthly payments that pay down the principal and interest. Yet, when you have student loans, you have an “amount owed.” This amount owed can actually be reducing your credit scores....

When done properly, business credit is obtained without the SSN being supplied on the application. This means there is no credit check from the business owner to get approved. This also means that anyone who has bad, even horrible personal credit can still be approved for business credit. Reports to the business credit reporting agencies, not the consumer reporting agencies. So as it has no adverse impact on the owner’s consumer credit because it’s not reported to consumer agencies. This means utilizing the account, even over 30%, won’t have any adverse impact on the personal scores. And there are no inquires on the personal credit when you apply for business credit as long as you don’t supply your SSN. 30% of your total consumer score is based on utilization, so if you use your personal cards for your business and if you use those cards you will lower your scores. Using more than 30% of your limit WILL result in a score decrease So if your limit is $1,000, havin...