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Loans Information |
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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 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:
Applications flood in for Juneau small business loans in first 24 hours Alaska Public Media News Carbondale offers loans for coronavirus-affected businesses Glenwood Springs Post Independent Wells Fargo Curtails Jumbo Loans Amid Market Turmoil The Wall Street Journal Cleveland to offer loans to businesses Cleveland Jewish News 22 private student loan lenders that may help you with payments during the COVID-19 outbreak Business Insider Wait, What?! Treasury Clarifies “Affiliation” Rules For SBA Section 7(a) Loans (& Startups Are...) Forbes U.S. Seeks to Ease Small Business Loan Process, but Startups Fear Being Shut Out The Wall Street Journal Wells Fargo closes loan window for SBA relief program Phoenix Business Journal Midsize Banks Lead Way on Small Business Loans, Big Banks Follow Banking Exchange Bank executives sought guidance on small business loan program from Ivanka Trump: report | TheHill The Hill Protecting paychecks: Federal loans available for businesses in Baton Rouge and beyond - BRProud.com Lurie Children’s Hospital loans 10 ventilators to Northwestern Memorial for coronavirus patients Chicago Tribune Personal loan or home equity loan: Which is better? Fox Business The Rush for $350 Billion in Small-Business Loans Starts Friday. Banks Have Questions. The Wall Street Journal Small businesses have 'a million questions' about paycheck relief loan as applications come due CNBC Bank Of America Boasts $22B In Bailout Loans pymnts.com Small businesses lining up to get relief loans WKRC TV Cincinnati Multiple businesses still awaiting response as state receives thousands of loan, grant applicants Frederick News Post Mnuchin says he will ask Congress for more small business loan funding if $350 billion pool runs out CNBC How student loans affect your debt-to-income ratio Fox Business People Need Loans as Coronavirus Spreads. Lenders Are Making Them Tougher to Get. The Wall Street Journal Borrowers, confused about coronavirus student loan relief, get little help Education Department The Washington Post Businesses can apply for Economic Injury Disaster Loans Taylorsville Times U.S. small banks have processed more than 700 small business relief loans for $2.5 million: Mnuchin Yahoo Finance Here’s what you need to know to get a federal disaster relief business loan The Washington Post SMB loans platform Kabbage to furlough a ‘significant’ number of staff, close office in Bangalore TechCrunch Coronavirus Stimulus: 5 Things Student Loan Borrowers Should Know | Student Loan Ranger U.S. News & World Report SBA Loans to Charge 0.5% Interest, Can Be Forgiven If Used to Save Jobs The Wall Street Journal Swiss lead way with crisis loans to small businesses Financial Times Delivering on President Trump's Promise, Secretary DeVos Suspends Federal Student Loan Payments, Waives Interest During National Emergency U.S. Department of Education Mexico’s Pledge for Virus Stimulus Seen Coming Up Short BloombergQuint Small Businesses Seek a Crisis Lifeline Beyond Loans The New York Times Need Money During Coronavirus Pandemic? How To Avoid Loan Sharks And Debt Traps Capital Public Radio News FTC official: Legal 'loan sharks' may be exploiting coronavirus to squeeze small businesses NBCNews.com 5 ways to pay off Parent PLUS Loans fast Fox Business Help for student loan borrowers stalls Senate stimulus bill Inside Higher Ed |
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