Debt Management 101: What is Bad Credit?
Having a bad credit means you have less than perfect credit because of an unpaid or delayed repayment of past loans and other financial obligations. Your bad credit affects multiple areas in your life–your ability to borrow money, to get a job, and to apply for utilities. It’s because your credit history is the measure of your creditworthiness or your ability and willingness to repay your debts. So, if you have a bad credit, it means you have a low credit score or you are not creditworthy. You may have a sparkling clean repayment record on your credit cards, […]
Why Turn To Bad Credit Loans When Debt Collectors Are Harassing You?
Bad credit loans come handy when debt collectors go after you. It helps you fix your credit too. Is feeling harassed by debt collectors just the price you have to pay for not paying your debts on time and not getting your finances in order? It doesn’t have to be that way; because being in bad debt doesn’t mean that you are financially irresponsible. Sometimes, you just didn’t have enough cash flow to pay back your loans or you missed payment due to oversight or serious billing errors. What’s bad credit, and what causes it? It’s the […]
Second Mortgages Tips: How to Get Out Of the Credit Card Debt Rut
If you find yourself swamped in credit card debts, second mortgages can be your best option. Sometimes credit cards can put you in a financial situation that makes you miserable more often than it makes you financially secure. Yet, it seems so difficult to get out of debt because it keeps drawing you back in, especially when you own several plastic cards for all your purchases and financial transactions. Here are some ways of using second mortgages if you have finally considered ending your credit card debt for good and rebuilding your credit. Don’t Mistake Your Credit Card for Cash This is a […]
How to Survive and Overcome Bad Credit
When you first learn about your bad credit, it is normal to feel completely devastated. I’m sure that regret, anger and many emotions are running through your head, especially when banks turn you down and you seem to have no other way out except bankruptcy. It’s totally understandable that getting over a bad credit takes time, determination, and discipline. That’s why a debt consolidation strategy can help you come to terms with yourself and with your creditors. You can financially and emotionally heal from a bad financial mistake, but it means budgeting and sticking to your debt consolidation strategy […]
Can a Loan Application Affect My Credit Score?
Many Aussies are stressed by the thought of having a low credit score or having to use financial services that affect their score. But can a loan really affect one’s credit score? Let’s find out! What Is a Credit Score? It’s a number calculated using the information from your credit report. In other words, if you pay your debts and bills on time, you will have a good high score. If you don’t, you will have a low score reflecting that. The low score can make it harder for someone to get a loan or to use certain financial services. […]
How Does a Personal Loan Affect Your Credit Score?
There are unexpected scenarios in life when you are in need of immediate financial help. Whether it’s the case of an unprecedented car repair, tuition bill or any other emergency, getting a personal loan is one accessible way of having extra cash for a particular purpose. Nonetheless, before you consider choosing personal loans, you should acknowledge their impact on your credit score. When you use it accordingly, a personal loan can have a beneficial influence on your credit rating, as long as you handle the situation right. What Affects Your Credit Score? First and foremost, your credit score is calculated […]