The topic today is personal loans,credit reports, and debt relief in the current economic crisis.
Can you still get a unsecured personal loan with the current credit crisis? Yes, the loans may be harder to get - but if you look hard enough, or find a company like this to look for you, you may still be able to get a unsecured personal loan for up to 15,000.
If you are in need of money to pay off debt, then you may wish to consider a debt reduction program like this one though credit. com
Select a respected company like this one and save up to 60% on your current debt.
Remember in times like this with a "economic slowdown" credit card companies and other lenders may reduce credit limits. This can lower you credit score because a large part of your FICO score is calculated by the amount of available credit that you use. To find our more about this Click Here.
Feel free the send me a e-mail with any questions to chris@MoneyNowUSA.com
Saturday, November 22, 2008
Wednesday, August 15, 2007
Personal Loans - How to Apply Online
Personal Loans - How to Apply Online
Recent changes have encouraged a growing number of consumers to use different sources for financing. Whether they need money for Debt Consolidation, Home Improvements, Vacations, Education, Cars, or other expenses; more consumers are using Personal Loans to get cash.
Instead of using other financial products to get smaller amounts of cash (Like using Home Equity Loans, Mortgage Refinances or High Interest Credit Cards) borrowers are now turning more frequently to online personal loans.
The two basic reasons why people are using personal loans.
Lower Fees and Rates
Rates for personal loans normally range anywhere from 5 to 20% APR depending on credit scores and other underwriting factors. Personal loan fees are usually less then 50.00 compared with possibly thousands of dollars in fees for a Mortgage Loan.
Faster Transactions
Speed. Personal loans are much faster then a Mortgage Home Equity Loans. You can get money by applying online as fast as 24 hours. Many Personal Loan Lenders loan up to 20,000 Unsecured.
How to Apply Online for a Personal Loan
First a Word of Caution. There are websites that will try and charge a fee in Advance to find you a lender. In many cases they are simply selling you a list of banks that you could get for free anyway. Never pay in advance any fees at all to get a loan. This is not only unethical, it is illegal in many states. I will list some free trusted websites below that you can use to obtain a person loan.
Good /Excellent Credit Personal Loans to 30,000
You can go to Prosper and make a loan profile, and wait to see if your loan gets funded. Prosper is not a bank, it is a new concept called person to person lending. Investors bid on the chance to loan you money in a e-bay style format. This is a great website.... but you may need be patient. The process can take a while. If your loan funds the first time, it can take 7-15 days to get your money. The better your credit and lower your debt ratios, the more likely you are to get money. If you need money in 2 weeks or less or have Bad/Fair Credit this website may not be the best option. Prosper will may take a little more work then just filling out a online loan application, however it is a wonderful new concept.
Bad / Fair/ Good Credit Personal Loans to 15,000
If you have Less then perfect credit and do not need more then $15,000 You can go to MoneyNowUsa. Like prosper these are unsecured loans and no collateral is required. Unlike prosper these are consumer bank loans for the most part. Bad Credit is OK, and normally you can get money quickly, many times in less then 72 hours. The disadvantage to using this site is if your credit score is less then 580 you will not be approved without a co-signer, but normally you will find this out right away. If you need more then 10,000 and do not own a home, this site may not be the best option. If you need a smaller loan (500 to 15,000) and have Bad Credit / Fair Credit then this site will work just fine, the rates and payments are generally low.
These No Collateral Loans can be good financial tools if used correctly. Remember to always consider fees and processing times when considering a personal loan.
Recent changes have encouraged a growing number of consumers to use different sources for financing. Whether they need money for Debt Consolidation, Home Improvements, Vacations, Education, Cars, or other expenses; more consumers are using Personal Loans to get cash.
Instead of using other financial products to get smaller amounts of cash (Like using Home Equity Loans, Mortgage Refinances or High Interest Credit Cards) borrowers are now turning more frequently to online personal loans.
The two basic reasons why people are using personal loans.
Lower Fees and Rates
Rates for personal loans normally range anywhere from 5 to 20% APR depending on credit scores and other underwriting factors. Personal loan fees are usually less then 50.00 compared with possibly thousands of dollars in fees for a Mortgage Loan.
Faster Transactions
Speed. Personal loans are much faster then a Mortgage Home Equity Loans. You can get money by applying online as fast as 24 hours. Many Personal Loan Lenders loan up to 20,000 Unsecured.
How to Apply Online for a Personal Loan
First a Word of Caution. There are websites that will try and charge a fee in Advance to find you a lender. In many cases they are simply selling you a list of banks that you could get for free anyway. Never pay in advance any fees at all to get a loan. This is not only unethical, it is illegal in many states. I will list some free trusted websites below that you can use to obtain a person loan.
Good /Excellent Credit Personal Loans to 30,000
You can go to Prosper and make a loan profile, and wait to see if your loan gets funded. Prosper is not a bank, it is a new concept called person to person lending. Investors bid on the chance to loan you money in a e-bay style format. This is a great website.... but you may need be patient. The process can take a while. If your loan funds the first time, it can take 7-15 days to get your money. The better your credit and lower your debt ratios, the more likely you are to get money. If you need money in 2 weeks or less or have Bad/Fair Credit this website may not be the best option. Prosper will may take a little more work then just filling out a online loan application, however it is a wonderful new concept.
Bad / Fair/ Good Credit Personal Loans to 15,000
If you have Less then perfect credit and do not need more then $15,000 You can go to MoneyNowUsa. Like prosper these are unsecured loans and no collateral is required. Unlike prosper these are consumer bank loans for the most part. Bad Credit is OK, and normally you can get money quickly, many times in less then 72 hours. The disadvantage to using this site is if your credit score is less then 580 you will not be approved without a co-signer, but normally you will find this out right away. If you need more then 10,000 and do not own a home, this site may not be the best option. If you need a smaller loan (500 to 15,000) and have Bad Credit / Fair Credit then this site will work just fine, the rates and payments are generally low.
These No Collateral Loans can be good financial tools if used correctly. Remember to always consider fees and processing times when considering a personal loan.
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