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A Renter in Debt? Take Out a Bad Credit Personal Loan
On average, homeowner households earn 95% more than renting households per year. With 26% of a rental households disposable income being spent on renting, in comparison to 15% of homeowners on their houses (not including maintenance), it is unsurprising that people who rent find it harder to manage and turn to bad credit personal loans for help. It's easy to fall into the rent trap. As monthly rents take over ¼ of their income, debts for renters can easily pile up. It is very difficult to make any savings towards a deposit for a home and very easy to get bad credit if you skip payments on things like credit cards to try and make ends meet. Fortunately, renters with bad credit can still apply for a bad credit personal loan. A bad credit personal loan is an unsecured loan. This means that unlike a home equity loan you do not have to pledge a valuable item such as a home or a car to guarantee repayment. If you rent this makes perfect sense as you do not have a home to pledge anyway! A really useful thing to know is that a bad credit personal loan can be used for just about everything including: ? Buying Christmas presents ? Furnishing a rented home ? Paying off credit card bills ? A new car Most companies that offer bad credit personal loans are not interested in what the money will be used for, they are merely interested in whether the person taking out the loan will be able to make the repayments or not. If you have bad credit then you will need to seek appropriate lenders who offer a personal loan for people with bad credit, but there are an abundance of specialist lenders available. The main advantage to using such a loan is that unlike a credit card, the credit is non-revolving. This means that the interest rate and the term of the bad credit personal loan are fixed at the outset. The monthly repayments are always the same and this makes it far easier to allow for in a monthly budget. As these loans are unsecured and for bad creditors, they do carry a higher interest rate than a home equity loan, but if you do not have a home then this narrows your choices substantially. Peter Siu is a successful freelance writer providing valuable advice for consumers when applying online for credit cards, student credit cards as well as other personal & mortgage loans. You can visit his sites at http://www.uscreditcenter.net http://www.ukcreditcentre.com and - His numerous articles offer moneysaving tips on a number of topics.
MORE RESOURCES: Sophia Nelson: Getting rid of payday loans won't protect our most vulnerable. It will destroy their safety net Fox Business Why I'm saving for retirement instead of paying off my student loans Business Insider Using Retirement Savings to Pay Down Loans Inside Higher Ed Euro Zone Banks Repay 147 Billion Euros in ECB Loans Before New Auction The New York Times How can shopping loan rates affect your credit? Bankrate.com Treasury Secretary Mnuchin says China should be 'graduated' from supportive World Bank loan program CNBC DeVos Proposes New Agency, Run by Someone Else, for Student Loans The New York Times Bad Credit? Regulators Back Ways for Risky Borrowers to Get Loans The Wall Street Journal High-interest loan companies are using Utah's small claims courts to arrest borrowers and take their bail money Salt Lake Tribune Economic injury disaster loans offered to Florida small businesses following Hurricane Dorian Naples Daily News CommonBond partnership seeks to unburden workers of student loan debt Employee Benefit News German bank loans Morocco 61 mln USD to help drinking water supply - Xinhua | English.news.cn Xinhua Quebec Loans $2.7M to Finance Trial Testing Oral LAU-7b for All CF Types Cystic Fibrosis News Today Largest SBA Loans in the region - Albany Business Review New York Business Journal Loan to fix Venezuelan power grid sparks outcry Argus Media In cost-cutting, FedLoan student loan call center in Chester closing next year The Philadelphia Inquirer Freedom Is Meaningless Under Insurmountable Debt The Atlantic Black student loan borrowers default at higher rates Inside Higher Ed Broken Promises and Debt Pile Up as Loan Forgiveness Goes Astray The New York Times For eighth straight quarter, CMBS loan delinquency rates drop: MBA National Mortgage News 5 Steps To Becoming a Qualified Candidate for a Farm Loan Successful Farming Loan Characteristics Mostly Account for Conforming/Jumbo Spread Mortgage News Daily How this 31-year-old paid off more than $30,000 in student loans in 2.5 years on a $37,000 salary CNBC Here is a powerful alternative to student loans The Washington Post Personal loans are ‘growing like a weed,’ a potential warning sign for the U.S. economy The Washington Post Five facts about student loans Brookings Institution J.C. Penney lender seeks to offload $800 million piece of loan San Francisco Chronicle Rand Paul wants to allow students to dip into retirement accounts to pay off loan debt Courier Journal John Cullerton’s back-door loan from clouted Belmont Bank Chicago Sun-Times U.S. Education Dept. Cancels Loans for 1,500 Defrauded Students The New York Times You Can’t Just Call Loans Options Bloomberg Dentist who received $300K CalHealthCares Student Loan Repayment shares tips for applying in 2020 CDA (California Dental Association) Farmers in Crisis Turn to High-Interest Loans as Banks Pull Back The Wall Street Journal How Bad Is China’s Debt? A City Hospital Is Asking Nurses for Loans The New York Times Wild's Greg Pateryn: Recalled from conditioning loan CBSSports.com A $45000 Loan for a $27000 Ride: More Borrowers Are Going Underwater on Car Loans The Wall Street Journal Gambino Crime Family Busted For Bronx Loan Sharking Scam: Feds New York City, NY Patch Union Station office tower a go after $476 million loan Chicago Tribune Lincoln foundation says new loan will end need to sell possessions Chicago Daily Law Bulletin Lower profits, higher loan-loss provisions could be ‘new normal’ for Canada's big banks Financial Post ADB Approves $1.3b Loans for Pakistan Newsweek Pakistan Hunter Biden-linked company received $130M in special federal loans while Joe Biden was vice president Washington Examiner |
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