Fund crunch? Nothing to worry, as these online loaning firms offer installment loans, which can be repaid in equal installments spread over a specific time duration, as per your convenience.
You just cannot avoid from being caught in situations where you may have to opt for additional financial assistance, despite being employed and earning a fixed income every month. That said, installment loans are the best solution to handle a monetary crisis for a salaried person. The best thing about them, apart from being easily available on the internet is, that they do not leave a mental pressure of repaying the entire sum in one go.
These installment loans are convenient short term cash solutions that can be used for any cash crisis. You can easily bridge the monetary gap between two consecutive paydays with an installment loan.
And even if you have a bad credit rating, there is no need for you to worry. These firms already have customized solutions for your financial needs. You just have to repose faith in them, fill up an application form and then, simply check your bank account for that money.
The best thing would be that you'd be allowed to repay in easy installments.
The DIFF blog is ending today. It’s over. Done. Finished.
That’s right, the DIFF blog is officially retired. We started the DIFF blog over four years ago as our original foray into blogging here at Quicken Loans. We wanted a blog. And we wanted to try something different. So, as part of a recruiting campaign, we launched the blog and wrote about things we found around the globe that made a difference.
The recruiting campaign ended a few months later, but the blog lived on. We’ve had several dozen writers over the years contribute to the blog. Almost a thousand posts in 4 years.
My favorite?
Just about a month or so after we launched the blog, my wife’s grandfather died. He had such an inspiring story, I wrote about it here. It pretty much cemented me as one of the main contributors to the blog for the next four years. Check it out: Requiem for a Warrior.
One personal note about the DIFF blog. It was my writing here that eventually led to my current position leading the Quicken Loans Brainstorm team (content team). It’s funny how things like this happen. An opportunity opened up that I didn’t plan, and I can thank the DIFF for setting the stage for it.
I’ll miss this blog. I’m the first to admit I haven’t always given the DIFF blog the attention it deserved. Seems like other business priorities often got in the way of spending a lot of time writing here. But I never gave up on it and I’ve thoroughly enjoyed working this for the past four and half years. Interestingly enough, I’ve never really considered myself a blogger. Just a writer working at a mortgage company that fell upon a pretty cool assignment.
So there you have it.
The time has come to say goodbye.
Goodbye to the DIFF blog, one of the favorite projects of my professional life..
If you want to borrow money, unsecured personal loans seem to be the most appropriate option and clear, to manage your finances because of the nature of the low paid and easy to reach and does not require collateral.
Through unsecured loans, one can easily obtain quick cash. This is a short-term loans and people can easily solve all their worries. The borrower can choose the loan to meet their different purposes like marriage, house renovations, car purchase, vacation, etc..
Currently, the online facility is also available in the market. Many lenders are available online to provide their services with the “Installment loans” are easy and affordable. Online loan application you must fill out and you can easily get a loan.
So whether you want to take out a loan for business purposes or to buy household needs, or other needs? then an unsecured loan with low interest or unsecured loan could be a reference for you all to remember personal loans is very necessary for all situations.
Installment loans can help you in an emergency – and they can be paid off over time. (Photo: picasaweb.google.com)
We all know there are times when you need extra money on hand fast. These times are especially difficult when you have a record of having bad credit. During these tough times you will find that banks and other mainstream money lenders are reluctant to give any sort of loan to people with this type of credit history. To help you out of this bind, there are online firms that can give you installment loans.
You will find that getting installment loans with bad credit is not as difficult as you might have imagined it to be. There are various online companies who can help you out of this situation, and because these companies specialize in helping people with bad credit and people who need cash fast, they are not going to be looking at your credit history when they look at your application form.
How These Firms Can Help You
Getting installment loans with bad credit is not always an easy task, especially through the more formal routes such as banks, etc. The different online firm, on the other hand, will be able to help you with your installment loans even with a bad credit history. All you need to do is to provide them with some simple details like your name, your home phone, your E-mail address and how much you want to borrow from them.
You will find they can give you a loan and it will take only a few hours for your loan to get approved. And this may be in spite of a bad credit history. These companies will give you a few different choices like applying for fast cash advances, installment loans, payday installment loans and other types of loans.
When to Pay Back Your Installment Loans
The best thing about getting installment loans with bad credit is not the non-issue of your bad credit, nor is it the quick approval of your loan, but rather the fact that you have time on your hands to pay back the loan without hassle. This means that instead of worrying about paying back a large lump sum, you can pay the amount in installments covered by a number of paychecks instead of one.
And this is the beauty of going with an online company to get installment loans. You get the money you need, when you need regardless of your credit history, and you can settle the loan in installments with what you have, thereby avoiding accruing more bad credit.
Here at CLF, online loan applications are submitted every day from applicants who need to borrow money for home mortgages, auto loans, personal, payday, bad credit, and student loans (just to name a few). Today we are going to talk about the loan applications we have been publishing here for the past 3 years. Sort of a look back at all the applicants and their submissions so far on our site.
All of the published loan apps here are done with the utmost security we can muster. We change the names of the applicants if for any reason we think that the borrower’s identity could possibly be compromised due to the detailed nature of the information in the application form they fill out. If you have never been to our site before, then I would like answer a common questions.
Most Common Loan Application Question – The question is always, “where do we find the application forms on your site so I can fill it out”. The answer is that we use the comments sections for these apps that come through from eager applicants who want to get approved by a lender in their area. You can find this application area at the bottom of each post on the site. You do a search for the type of loan product you are looking for by using our search tool at the top of any page on CLF. Once you have found your loan category, then you can scroll down to the bottom of the page and use the submission sections to write your loan request. This is done in free form, but most applicants use this basic app format though;
Basic Personal Loan Application
—————————————————————————————
Loan Amount ::
Loan Application and Processing Speed ::
What do you need this loan for? ::
What City/Town, State and County do you live in? ::
Zip ::
What is your employment field? ::
Employment Position ::
When are you paid? ::
Your credit rating to be – excellent, fair, or bad? ::
How did you find us? ::
Bank Name and Branch ::
How are you paid? ::
Gross Amount Per Paycheck ::
Do you agree to have this information published online, minus your PRIVATE information? ::
Please enter any extra information that you would like to provide? ::
So the applicants that come to our site use the basic format for their loan request and they fill out as much information as possible, as to get a response back from a lender closest to them. This is how it works.
Our staff (based in Los Angeles) looks through all of the online applications that come through our site everyday. The look for the most detailed submissions and send those chosen to the private lenders from the applicants address. If the loan is approved for the applicant, we MAY get a small commissions for our efforts – may time we don’t, but we are providing a service here right. The most detailed applications get first pick because the more information added to their submission are easier to make a straight up decision on the app. When the submission has not detail then the lenders, banks, or credit unions, have to go through the whole process again of getting their application complete enough to process correctly. Many of the lenders we work with are private lenders, and they can approve and fund a loan even if it’s an unconventional application. Meaning that the applicant(s) may have a poor credit score, or may have a troubled payment history with their creditors. If the private lender sees in the application form that the customer has a secure job and a has been living in the same city or town for a period of time longer than 2 years, they may take the risk and lend them the money.
The interest rate on private loans can vary though – you have to make sure you don’t sign on to a loan for an extended period of months or years that straps you down with a really high APR. We (CLF staff) have nothing to do with the loan agreement between the borrower and the lender either, so you are completely on your own in that respect. Please read our terms and privacy to learn more about the role California Loan Find plays in the borrowing and lending process.
Which Loan Applications Get Chosen for Publication
We get asked allot, “how do you choose which loan applications are published on your site”. The answer is really two-fold. One, we publish applications if the applicant agrees that we are allowed to do so, and if so, we protect their identity. Two, we publish loan application if the information submitted in the form will add some sort of value to our site. If we think that the applicant’s loan request and “story” is on that can shed some light on a particular lending product, then we will publish it.
The idea behind publishing the information from an application, is that other applicants, customers, consumers (PEOPLE) can learn something about the borrowing and lending process, and may see themselves in the published applicant’s financial situation. This can be both entertaining, and eye-opening for our readers.
Auto Loan Applications
Auto loan applications are of course managed differently. The questions are a little bit different in respect to what the lender requires from the borrower to expedite their application. If you filling out an application form for an auto loan, then you need to use the following format of questions and answers.
Auto Loan Amount ::
Auto Loan Application and Processing Speed ::
What kind of vehicle do you want to purchase? (car, truck, atv, rv) ::
What City/Town, State and County do you live in? ::
Do you have collateral in any form? ::
What make of vehicle do you want? ::
Do you want to buy a new or used vehicle?
Do you have a vehicle for trade in?
If you have a trade in, what make is it?
If you have a trade in, what model is it?
If you have a trade in, what year is it?
Zip ::
What is your employment field? ::
Employment Position ::
When are you paid? ::
Your credit rating to be – excellent, fair, or bad? ::
How did you find us? ::
Bank Name and Branch ::
How are you paid? ::
Gross Amount Per Paycheck ::
Do you agree to have this information published online, minus your PRIVATE information? ::
Please enter any extra information that you would like to provide? ::
Home Mortgage Loan Applications
Home mortgage loans applications are handled differently of course. The typical information required for submission on a home mortgage is something like this.
Home Purchase Amount ::
Home Loan Application and Processing Speed ::
How much do you have for a down payment? ::
What is your DTI (debt to income ratio)? ::
Do your currently have a mortgage? ::
Are you a first time buyer? ::
Do you have a co-signer or co-borrower if required? ::
What City/Town, and neighborhood do you want to buy a house in ? ::
What City/Town, State and County do you live in currently? ::
Zip ::
What is your employment field? ::
Employment Position ::
When are you paid? ::
Your credit rating to be – excellent, fair, or bad? ::
How did you find us? ::
Bank Name and Branch ::
How are you paid? ::
Gross Amount Per Paycheck ::
Do you agree to have this information published online, minus your PRIVATE information? ::
Please enter any extra information that you would like to provide? ::
Payday/Cash Advance Loan Applications
Online applications for payday loans (cash advances) have to be filled out differently as well. This is a completely different kind of lending product. This is a high APR product and generally very short in term.
Payday Cash Advance Loan Amount ::
Payday Cash Advance Speed ::
What City/Town, State, and County do you live in? ::
Zip ::
Active duty military personal? ::
What is your employment industry and how long in this field – detail please? ::
Employment Position ::
When are you paid? ::
What would you consider your credit rating to be – excellent, great, good, fair, bad? ::
How did you find us? ::
Bank name ::
Bank branch ::
How are you paid? (eft, direct deposit, paper check) ::
Gross Amount Per Paycheck ::
Do not include ABA or bank routing numbers here. This is for your personal security. Do not enter social security numbers here. Do you agree to have this application information published online with your PRIVATE info removed? ::
Any extra information here please ::
Note to Lender – Please add any information you are comfortable with sharing regarding this loan ::
Have you ever defaulted or bounced a check with a payday cash advance loan in the past? ::
Student Loan Applications
Student loan applications are of course different in may respects. This the basic format that all student loan applications should be filled out in. You can see that the extra information sections would be used to a great degree, as all student loan apps vary from one extreme to another. The devil is in the details as they say. Of course our student loan applications is a short form pre-app, and when it’s time to full out the full application, you would be filling in all of the information, such as this student loan application form example (from the FAFSA site)
First Name ::
Last Name ::
What City/Town, State, and County do you live in? ::
Zip ::
What type of student loan are you applying for? (community college, universtiy, technical) ::
What is your eductional background so far? ::
Age ::
Street address ::
Phone Number ::
Email ::
Cell phone number ::
Do you have a co-signer ::
Are you currently a graduate student ::
Are you currently an undergraduate ::
Do you have a college, university, or school of choice ::
What field of study are you interested in pursuing ::
Are you and adult student? ::
Extra information here please ::
Loan Application Submissions
These are the basic loan applications in their broad format and it’s worth mentioning again that all of our application forms pre-apps and not to be mistaken for the full form applications. Your privacy is always secure. So to remind you of the process here at CLF, this is the order in which an application for lending can be made;
use our search functions to look for the loan product you are applying for
click the closest loan application submission to the one you are submitting
scroll down the bottom of the application and find the comment box
make your application by answering the questions shown in the forms above – some applicants actually copy/paste the pre-form questions from above for the particular lending product, and then answer them
make sure your first name and last intial are filled in the correct field
make sure your email is filled in the correct field (your email is never shared!)
if you have a web site, you can fill in the appropriate field as well
make sure you write as much detail as possible – the loan applications with the most detail get the most attention
That’s it. Our lenders have access to our database, and they scan all of the loan applications to see if they can do business with the people who make the applications. An example of a bad application would be, “name is Bert and i need a 10000 loan“. This kind of loan request format gets NO attention from anybody, and usually we never even approve it.
This is a short form application from an applicant in Hermosa Beach (basically Los Angeles) who want’s exactly $700 cash fronted to her quickly.
Payday Cash Advance Loan Amount :: $700
Payday Cash Advance Speed :: ASAP
What City/Town, State, and County do you live in? :: Los Angeles, California, Los Angeles County
Zip :: 90254
Active duty military personal? :: No
What is your employment industry and how long in this field – detail please? :: Sales clerk in board shop in the Hermosa Beach
Employment Position :: Sales clerk
When are you paid? :: Biweekly (Mondays)
What would you consider your credit rating to be – excellent, great, good, fair, bad? :: Poor credit score – please read more
How did you find us? :: AOL Search
Bank name :: Citibank
Bank branch :: Pier Avenue
How are you paid? (eft, direct deposit, paper check) :: Paper check
Gross Amount Per Paycheck :: $850
Do not include ABA or bank routing numbers here. This is for your personal security. Do not enter social security numbers here. Do you agree to have this application information published online with your PRIVATE info removed? :: I will include the routing #s on the secured full application.
Any extra information here please :: I really need this loan bad – I’m desperate please help
Note to Lender – Please add any information you are comfortable with sharing regarding this loan :: My credit rating is not perfect by any means, but I think I deserve a second chance – do what you can.
Have you ever defaulted or bounced a check with a payday cash advance loan in the past? :: No
This applicant was approved for her $700 and she managed to make the payments she was behind on.
This is an auto loan applications from LA that was submitted by an applicant who wants to buy a new Chevrolet Volt and wants to do a trade in with his 2006 Toyota Prius. He has indicated that he has a $5000 dollar down payment to use. With his trade in value of close to $16,000 and his cash down, he has a total of $21,000.
So our applicant wants to get a $20,000 loan to cover the difference for the new Chev Volt. His credit rating is rather bad because of some missed payments on his Discover Card, and he has had some trouble with his Visa Cards in the past as well.
He blames on relationships and bad luck, and that is fine, but dealerships, banks, lenders, Equifax, TransUnion, and Experian don’t care at all about the reasons for not making payments on time and in full – it’s completely impersonal. It’s just a mathematical record of your payments to creditors that matters in the long run. So never take it personally when you are declined on any kind of loan.
This new car loan was ultimately approved, even with his bad credit, because he has held a solid job for over 5 years with the same employer and because the lender used the new car as security as well. The down payment factored in as well. Unfortunately, due to the applicant’s poor credit rating, his APR on the loan was high. He was approved at 11% over 3 years, which means two things – one, the bank is punishing him for his low FICO score, and they want all their money back all within 3 years (36 payments). Some lenders will often give borrowers a 4 year term on a vehicle loan if they trust that the customer will be “good for the cash”. In either scenario the lender wins out because they either charge a larger interest rate on the note, or they get their pound of flesh over a longer period of time.
Auto Loan Amount :: $20,000
Auto Loan Application and Processing Speed :: Within a week please
What kind of vehicle do you want to purchase? (car, truck, atv, rv) :: Car
What City/Town, State and County do you live in? :: Los Angeles, California
Do you have collateral in any form? :: Yes – the new Volt, and $5000 down payment
What make of vehicle do you want? :: Chevrolet
Do you want to buy a new or used vehicle? :: New
Do you have a vehicle for trade in? :: Yes
If you have a trade in, what make is it? :: Toyota
If you have a trade in, what model is it? Prius
If you have a trade in, what year is it? 2006
Zip :: 90008
What is your employment field? :: Technician (Air Conditioning Expert)
Employment Position :: Service Technician
When are you paid? :: End of each month
Your credit rating to be – excellent, fair, or bad? :: Bad
How did you find us? :: Using Bing and Google
Bank Name and Branch :: Bank of America (BOA) – 3442 Wilshire Boulevard Branch
How are you paid? :: Direct deposit
Gross Amount Per Paycheck :: $2,723
Do you agree to have this information published online, minus your PRIVATE information? :: Yes
Please enter any extra information that you would like to provide? :: I would like to trade in my 2006 Prius and buy a brand new Chevy Volt that will be even better on fuel consumption. I’m tired of paying so much at the pumps. I have $5000 to put down on the loan, and the Prius is worth around $16,000 I have been told on estimate with a local car dealer here in L.A. That means I need to borrow at least $19K but have an option I want to get that will cost $1000 extra. Please get back to me at your nearest convenience.
So the above table holds the basic pre-application information for the car loan request, and the table below shows the actual loan that was approved for the three year term at 11%. Expensive, but I suppose the borrower REALLY wanted to get this car. He will be paying allot of interest over the 3 years as you can see in the table below.
Category: Car Loan (new)
APR 11%
Loan Principal
$20,000
Payment Schedule
Monthly
Length of Term
3 Years
Amount to be paid
$23,391.03
Total interest paid
$3391.03
Paid per installment
$640.85
So there you have it. He has a hefty monthly payment of just over $640 bucks. That is a big payment for a car on his salary if you consider that his income is fixed and doesn’t have any other ways to make more money each month. He is single so he only has his one income to make ends meet. The mortgage on his house is $1350 per month, so he is in for $2000 a month right out of the gate. This means that his DTI (debt to income ratio) is at it’s maximum now, which is a hairy place to be. There isn’t any room left for an emergency loan of any kind. He wouldn’t likely be approved for any more credit from any creditor unless he starts earning more money each and every month.
This is a very common reality for many Americans who have let their wants out-weight their priorities. There was nothing wrong with his 2006 Prius and that vehicle is excellent for consumption.
He may be alright over time if he is really prudent with his money and doesn’t start racking up credit card debt on top of these monthly responsibilities. Unfortunately, life doesn’t usually go that smooth, and he may be regretting this purchase and loan in the future. I know, because I am personally paying over $650 a month on an RV loan. That crimps the pocket book allot, and I made the mistake of buying it brand new, so it’s now worth less than half of what I paid for it. Classic - my husband and I bought it on impulse. Oh well – price of an education.
This applicant is in an excellent situation to be approved for a refinanced mortgage on his home. Both he and his wife are working in stable jobs and have been in these jobs for some time. Although their combined income is not huge, it is more than enough to support this new mortgage request, the taxes and ongoing utilities. The applicant did not mention if they have other loans, however based on their credit rating they should be approved for this mortgage request with little problem.
Their home is also worth far more than the new mortgage that is being proposed, even with the recent down turn in property values that are plaguing the country and in particular California. The proposed improvements to their home will no doubt increase the sales value of the home should they wish to sell their home at some future date. Outstanding questions we have for this applicant include : the amount of earthquake insurance they have on the home; property insurance; confirmation of asset value of the home; cursory examination of the plans and quotes for the work they plan to have completed and confirmation of other current loans that either of them may have.
We also like the planning and the organization that this couple seems to have entered into regarding the improvements that they are contemplating. Several would fall into the maintenance category, i.e. the roof and the driveway, while the remainder are improvements which will enhance the value of the home both in terms of resale value as well as personal enjoyment. We believe this applicant will be an excellent candidate to have this mortgage refinancing application approved.
Home Improvement /Mortgage Loan Amount :: $50,000
Home Loan Application and Processing Speed (when do you need the funds):: We would like to start this project over the next couple of months. We have the design finalized with the help of an architect friend of ours. He has even prepared the plans for us to follow. We need to hire the contractors, however we are obviously waiting until we have approval for the home improvement loan that we are looking for. While there is no specific date that we need to get this project started, we would like to have it completed within the next 6 months.
Do you currently have a mortgage? :: Yes, a small mortgage of $75,000 which we would like to merge with this new additional home improvement loan.
Bank Name and Branch :: Wells Fargo, Webster Street
What City/Town, State and County do you live in? :: San Francisco, California
Zip ::94124
What is your employment field? :: Tour guide at the Alcatraz Jail Museum
Employment Position :: Museum Manager
When are you paid? (monthly/weekly/biweekly):: Bi-weekly
Your credit rating to be – excellent, fair, or bad? :: Excellent, I think. We have not missed any payments on any loans or credit cards that I am aware of.
How did you find us? :: Searching for home improvement loans on the Internet
How are you paid? (direct deposit/paper check):: Both my wife and I are paid on a direct deposit basis.
Gross Amount Per Paycheck :: Combined family income – $ 85,000
Do you agree to have this information published online, without your PRIVATE information of course? :: Yes
Extra information here please (some detail):: While we do not make a lot of money combined, we both have stable jobs which we have been working at for over 15 years. I am the manager at the museum in charge of transportation and ticketing. Basically I make sure that all of our tourists are transported safely and quickly on the museum ferry’s and that the ticket sellers have all of the information they need to enhance our sales and answer any questions that our guess may have. My team is also responsible for cash management. My wife is a legal secretary for a local lawyer in downtown San Francisco. She has also been with him for over 15 years. We are both very stable in our jobs.
Note to Lender :: We have lived in our home for over 15 years and only have a $75,000 mortgage on the home. Actually this is the balance remaining after 15 years of payments. It is time to do some upgrades to our home. We need to replace the roof, install a new driveway, upgrade the front steps and siding as well as the landscaping. On the inside we plan to have the basement finished and also install new appliances in the kitchen. Our plans also include new cupboards and counter tops for the kitchen as well as the single bathroom. This is a lot of work and we plan to accomplish this all over the next six months in 3 stages. Stage 1 is to get the basement work completed, stage 2 will focus on the kitchen and bathroom and the last stage will be all of the outdoor work. As we mentioned earlier we have all of the plans for the landscaping, the kitchen and the basement work ready. So we think we have all of the planning work done and now need to proceed with getting some of the work completed. Your loan is required to help us accomplish this. The total refinanced loan amount will be $125,000 which is only 25% of the estimated value of the home.
Our financial services for car loans are available with some excellent features. Our easy to avail and hassle free car loans includes a wide array of cars. Some of the specifications of our car loans are as follows :
Before you ever apply for a loan anywhere - whether at your local bank, or online, you need to fully understand what your credit rating status is, your current FICO number, and the reality of this process.
The important word here is CURRENT. Don't get down on yourself just because you have a low FICO score. Don't. You can change this over time, and you turn around your borrowing power quicker than you think. It just takes understanding how the main credit bureaus sum up your score.
Experian, TransUnion, and Equifax are the "big three" credit reporting agencies, and they greatly effect the APR at which you will be borrowing money, how much you can borrow, and the terms in which lenders will "float your note" - so to speak.
Understanding the So-Called Free Credit Score Products
Free credit score companies make their money via membership, and this is how it works. You sign up for a membership that is always temporary - why? Because once you have a handle on your exact FICO rating, and have removed any blemishes on your record, you no longer need the membership.
Yes, some will agrue that you should always have a membership with a credit score company so that you can be updated constantly as to your current rating, and there is some merit to this argument, but in general most borrowers don't bother.
So you are getting my drift here right? When a credit score company says it's a free service, it's not for long. You may get ONE free credit score check, but if you want to always be abreast of your score, you need to buy a membership.
For more information on free credit scores feel free to bookmark Lazerloan.com for future reference.
If your credit is damaged in any way, you may have a difficult time finding a student loan. I've been in that exact same position at one time, and there is hope for you too. What I did was apply for the Federal Stafford loan. Applying is fairly easy and you can get an answer back quickly. The other option I would suggest as far as government student financing assistance, is to research the Federal Perkins student loan.
Federal Perkins loans are advanced via participating schools to undergraduate and graduate/professional students - whereas the Stafford Government loans are for undergraduate or graduate/professional students made through one of two U.S. Department of Education programs. (D.O.E)
1)The William D. Ford Federal Direct Student Loan Program - know as Direct Stafford Loans or Direct Loans
2)The Federal Family Education Loan (FFEL) Program - know as FFEL Stafford Loans (Federal Stafford loans)
There is another option students have if they are burdened with bad credit, and they are called PLUS Loans. Plus Loans are financing parent(s) may acquire for their undergraduate children. Their children must be dependant children, mind you. These PLUS LOANS are acquired through the Direct Loan or the FFEL student loan program.
Students requiring financing with a poor credit history, would likely find their best chances are seeking a federal Government loan. There are some facts you want to know regarding federally sponsered student loans; There are two distribution channels for Federal student loans. The channels are identified by their names: Federal Direct Student Loans and Federal Family Education Loans. Federal Direct Student Loans, also known as Direct Loans, or FDLP loans are funded from public capital originating with the U.S. Treasury.
FDLP loans are distributed through a channel that begins with the U.S. Treasury Department, and from there passes through the U.S. Department of Education, then to the college or university and then to the student. Federal Family Education Loan Program loans, also known as FFEL loans or FFELP loans, are funded with private capital provided by banking institutions (ie: banks, savings and loans, and credit unions). Because the FFELP loans use private capital as their source, students who use FFELP loans are able to take advantage of payment options that are similar to those available to customers who take out a home loan or a consumer loan. For example, some institutions will allow a discount for automatic payments, or a series of on-time payments. In 2005, approximately 2/3 of all federally subsidized student loans are FFELP.
The maximum amount that any student can borrow is adjusted from time-to-time as Federal policies change. A study published in the Winter, 1996 edition of the Journal of Student Financial Aid, titled “How Much Student Loan Debt is Too Much” suggested that debt for the average undergraduate should not exceed 8% of total income after graduation. Some financial aid advisors have referred to the 8% level as “the 8% rule.” Circumstances vary for individuals, so the 8% level is an indicator, but I would suggest if you are still in a bad credit situation, you want to lower that percentile.
For Private Loans it is far simpler. The lender generally disburses the money directly to the school. Any funds borrowed beyond tuition and fees is given to the student for living expenses, room, board, etc.
Regardless of your choice (Federal or Private), you must look into understanding your credit rating. What you want to do is check out your credit score by going to a site like www.myfico.com, and get yourself a credit report.
Once you have a complete credit score for yourself, you should then venture out and try to acquire student financing. For government student loans you should check out the Federal Stafford loan and the Federal Perkins loan.
Now, for a last resort, you can try some of the other bad credit lenders available online and offline. Be careful to make sure you read all the small print and don't get caught up in any ridiculous terms and high interest rates. When you are finally finished your education, be sure to keep your financial nose clean. All the very best to you in your future endeavors and your educational quests.
Lazerloan Approved Bad Credit Student Loan Web Sites
Updated Directory For Sunday, July 03, 2011
Lazerloan Approved - Bad Credit Student Loan Option #1 Student loan with a decent credit rating (not amazing...just decent): Loans for education or anything else - decent credit only
Student loan with a bad credit rating (badly damaged, or really horrid credit rating): Bankrupt applicants are welcomed
Bad credit Rv loans in the United States are often granted, in contradiction with public perception. The most important thing to impress apon a lender, is your secure employment or income. You are better off being an employee than being self employed, as lenders and banks are more comfortable with employment income.
If you are going to be applying at one of your local banks, be sure to show your past pay stubs from your employer, and present to the bank the reason for your bad credit rating.
Keep in mind that if you have a job, and you are purchasing an Rv, you should have no problem getting a loan approved, due to the fact that the new Rv acts as collateral. This is why getting a loan for a new Rv is easier than getting financing for a Rv car - resale value.
In conclusion, when applying for a bad credit Rv loan, be sure to show that your finances are cleaned up, you have a steady income, and the recreational vehicle or motorhome you want to buy is one that retains some value. Try to have "all your ducks in a row", before you start applying a bricks and mortar banks. It's not a good idea to apply at multiple banks as this can affect your credit rating in a negative way.
Why Using Razerloan Won't Hurt Your Credit Rating Further
The lenders we (razerloan.com) have listed below are online auto loan providers that do not share the record of your application with other companies. This is good, as it won't effect your credit rating in a negative way.
Lazerloan Approved Bad Credit Rv Loan Web Sites
Updated Directory For Sunday, July 03, 2011
Lazerloan Approved - Bad Credit Rv Loan Option #1 This credit approval company is one of the most successful to date. Click here to read more
Lazerloan Approved - Bad Credit Rv Loan Option #2 This company provide loans to bad credit applicants. Click here to read more
Motorcycle Loans for Bad Credit Applicants - Article
Bad Credit Motorcycle Loans - Introduction
Bad credit motorcycle loans in the United States are often granted, in contradiction with public perception. The most important thing to impress apon a lender, is your secure employment or income. You are better off being an employee than being self employed, as lenders and banks are more comfortable with employment income. (not fair I know, but that is the way it is)
If you are going to be applying at one of your local banks, be sure to show your past pay stubs from your employer, and present to the bank the reason for your bad credit rating.
Keep in mind that if you have a job, and you are purchasing a motorcycle, you should have no problem getting a loan approved, due to the fact that the new motorcycle acts as collateral. This is why getting a loan for a new motorcycle is easier than getting financing for a motorcycle car - resale value.
In conclusion, when applying for a bad credit motorcycle loan, be sure to show that your finances are cleaned up, you have a steady income, and the motorcycle you want to buy is one that retains some value. Try to have "all your ducks in a row", before you start applying a bricks and mortar banks. It's not a good idea to apply at multiple banks as this can affect your credit rating in a negative way.
Why Using Razerloan Won't Hurt Your Credit Rating Further
The lenders we (razerloan.com) have listed below are online auto loan providers that do not share the record of your application with other companies. This is good, as it won't effect your credit rating in a negative way.
Lazerloan Approved Bad Credit Motorcycle Loan Sites
Updated Directory For Sunday, July 03, 2011
Lazerloan Approved - Bad Credit Motorcycle Loan Option #1 This credit approval company is one of the most successful to date. Click here to read more
Lazerloan Approved - Bad Credit Motorcycle Loan Option #2 This company provide loans to bad credit applicants. Click here to read more
Bad credit credit cards are widely approved in today's market, as there are more Americans than ever with debt troubles. These cards will usually have higher interest rates, and penalties, but not ALWAYS. We've chosen a few select credit cards below that have reasonable interest rates even if your credit rating is damaged.
You can apply online for these credit cards, and get an answer back in just a few minutes. If you have job, or any kind of steady income, getting approved is a cinch. If you have some kind of income, one of these cards will work for you.
What Does Lazerloan Gain From Promoting These Cards
Lazerloan does not issue bad credit credit cards. We simply refer you to the companies that do. When you use our site to get a sub-prime credit card, we recieve a very small referral fee. We work on volume, so in the end, it's worth it to us.
Your customer experience, and fee rate for the credit card is exactly the same if you go to the merchant's web site directly. What we have done for you is find the service you require, test various credit card offers with our users, and present the sub-prime financier that performs the best.
Lazerloan Approved Bad Credit Credit Card Web Sites
Updated Directory For Sunday, July 03, 2011
Lazerloan Approved - Bad Credit Credit Card Option #1 This company has various credit cards for people with damaged credit. Visa, Mastercard, American Express, Discover and more, compare offers - bad credit/subprime credit cards available.
Lazerloan Approved - Bad Credit Credit Card Option #2 The Horizon Gold card is for bad credit applicants as well. Some of their features below.
Getting Your Vehicle Financing Doesn't Have To Be So Difficult
Applying for a vehicle loan is not supposed to be difficult, in contradiction with the majority of the general online and media perceptions of late. After all, the car or truck acts as collateral on the loan.
The most important thing to impress apon a lender, is your secure employment or income. You are better off being an employee than being self employed, as lenders and banks are more comfortable with employment income. (not fair I know, but that is the way it is)
If you are going to be applying for a car or truck loan at one of your local banks, be sure to show your past pay stubs from your employer, and present to the bank a compelling reason for lending to you in order to get you behind the wheel of your new or used vehicle.
Keep in mind that if you have a job, and you are purchasing a car or truck, you should have no problem getting a loan approved. Like I said already - due to the fact that the new car acts as collateral. This is why getting a loan for a new car is easier than getting financing for a used car - resale value.
In conclusion, when applying for an auto loan, be sure to show that your finances are cleaned up, you have a steady income, and the car or truck you want to buy is one that retains some value. Try to have "all your ducks in a row", before you start applying a bricks and mortar banks. It's not a good idea to apply at multiple banks as this can affect your credit rating in a negative way.
For more information on auto loans feel free to bookmark Lazerloan.com for future reference.
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
Are you in looking for personal installment loan, but facing credit issues? If so then you seek out the fruitful provision of no credit checkpersonal installment loans accessible in the market. These are not easy to find as lenders wants to check your credit before giving you loan. There are two options that will require a credit check and one that will not.
Firstly, always check with your own bank or credit union. Sometimes there is more that they can do than you think. If you have been with them for several years, have had other loans in the past with them, or have investment accounts with them, then they may be able to assist you when you require a personal loan. They will check your credit, but if you have a good rapport with them, then they might provide you a loan despite of your credit.
Secondly, you can use Prosper. This is a marketplace for private lenders and borrowers to get together. They will drag your credit, but only once and they will offer you a credit rating with them. Once they have finished this the private individual lenders will be able to bid on your loan scheduling and assist you to fund your loan. This is a most appropriate way to avail a loan as it is not always about credit with Prosper.
Lastly, the most suitable option for no credit check personal installment loans is to entail a payday loan or cash advance. They hardly ever check credit and most of the time they lend money on the basis of your current income and repayment ability. These loans allow you to avail an amount within the range of $100 to $1,500, but they will have to be paid back within a repayment period of 7-30 days. You can generally extend the loan for another 30 days for a fee that is about 3% to 5% of the loan amount. It’s entirely depending on the lender.
The definition of installment loan = a loan whereby the borrower pays back the lending institution in incremental payments. Usually these “installment payments” are made on a monthly basis or a biweekly frequency.
Borrowers who need an installment for $1,000, $2,000, $3,000, $4,000, or $5,000 – $10,000, will often find the lenders demanding payment in a very short time period. Of course for 10,000 dollars there can be installment paid back every month – same as some 5,000 dollar loans. By and large though, if the loan is for a cash amount under 3,000 the borrower will be asked to pay back the loan in one or two lump sum amounts. There are usually high fees associated with these smaller “micro-loans” as well. Opening and closing fees are usually where banks, lenders, and a cash advance companies make all their profit.
A mortgage or car loan that is paid back over a number of years are perfect examples of installment loans. An installment loan is simply a loan that is paid back in “chunks” over time. There is nothing new or miraculous about this kind of lending product.
Do You Need a Personal Loan Approved Today?
Our community of friendly folks might be able to help you!
Use the comment box at the bottom of this page and tell us, - how much you need to borrow - what type of loan you need - what State you live in - how quickly you need the loan
Your email is never made public, saved, or shared. Your privacy is never compromised.
Lenders make credit available to borrowers in several different forms, from credit cards to lines of credit to long-term loans. What they all have in common is that they provide access to money, which you can spend and must repay with interest.
The form of credit you use at any given time depends on several factors, including the amount you want to borrow, the way you plan to use the money and the schedule on which you repay what you owe. Despite the variety, however, all borrowing falls into two broad categories: installment loans and revolving loans.
Installment loans
An installment loan, sometimes called a closed-end loan, is one you pay back in regular payments over a specified period of time. Each payment includes a predetermined portion of the principal plus the interest that's due. You apply for the amount of money you need, and if you're approved, you receive the full amount at one time. When you've made your final payment and the loan is considered repaid, you have satisfied your commitment to the lender.
An installment loan provides money for specific expenses. You know how much you have to spend and how much you must repay. However, if you need to borrow more, you'll probably need to complete another application.
Revolving loans
A revolving loan, also called a line of credit, works differently than an installment loan. The lender establishes a maximum amount you can borrow, called your credit limit. You don't have to borrow the full amount of the credit limit, but rather can borrow amounts as you need them, up to the limit, to pay for certain purchases. Payments that are due are based on the balance you have borrowed, not on the amount available to you. As you repay the borrowed money, you typically have access to it again, up to your full credit limit.
Credit cards are also a form of revolving credit. You have a maximum credit line, which you access as you use the card to make purchases. As you repay your outstanding balance, either in full or in monthly payments, you can borrow that amount again, up to your credit limit. In contrast, a charge card allows you to make purchases, but you must pay the full amount you owe each billing period.
A revolving line of credit allows you flexible access to credit. That can be a more economical approach than borrowing a lump sum of money. Of course, it requires discipline not to access the line for purchases you could do without.
What Your College Freshman Needs to Know About Finances.
Click here for more information >>
Defining a Loan
Typically, people use the word "loan" to refer to both installment credit and revolving lines of credit. Curiously, though, very few of them describe using a credit card as taking a loan. But, in reality, that's exactly what they're doing.
What is a loan? Loan is a simple borrowing which every bank provides. But it is not as easy as you can imagine. The point is that not any bank will provide you with money you need any time you need it. First of all the problem is the lack information about you.
For example, let us suppose that you have a lot of money and you want to lend it in order to get more in the future. Would you give, for example, $5000 to person who you don’ know? No, you would not. You would like to know more about that person and only after that you would make a decision. And there is no doubt that you would worry about the period of repayment. The banks use the same system. But the banks have less risk than you may have. But it is another topic. Installment loans are not so simple. In this article we’ll talk about online installment loans.
Nowadays, we cannot imagine our life without the computer and the Internet. In some spheres of life it cannot be replaced. Most lending institutions had decided recently to refuse finding out all “the deeds” of the person who wants to borrow money because it takes time and money. Modern technologies are the best solution to replace such long procedure. Now almost everybody has an access to the Internet. And the online application is now available. It is quick and simple. You just fill out the application form and the stuff approves it. You get the money deposited into your bank account in a couple of hours.
Today we see the economic crisis around the world and banks have some difficulties. Most of them have changed their lending policy. Probably, it will be difficult for you to take out a long term installment loan. The bank wants to get quick repayment. The online lending services can help. There is only one disadvantage – you can’t borrow a large amount more then $1,500. restriction, you cannot have the big sum. On the other hand online services are very easy, fast and convenient. You will get your cash quickly in any cash dispenser.
The online installment loans give the opportunity to obtain the money you need to cover any emergency expenses. We offer very useful and convenient system. If you are sure that you can pay off your loan on time, don’t wait and apply for an installment loan right now.
I can’t believe it.
Here at CLF, online loan applications are submitted every day from applicants who need to borrow money for home mortgages, auto loans, personal, payday, bad credit, and student loans (just to name a few). Today we are going to talk about the loan applications we have been publishing here for the past 3 years. Sort of a look back at all the applicants and their submissions so far on our site.
This is an auto loan applications from LA that was submitted by an applicant who wants to buy a new Chevrolet Volt and wants to do a trade in with his 2006 Toyota Prius. He has indicated that he has a $5000 dollar down payment to use. With his trade in value of close to $16,000 and his cash down, he has a total of $21,000.
not huge, it is more than enough to support this new mortgage request, the taxes and ongoing utilities. The applicant did not mention if they have other loans, however based on their credit rating they should be approved for this mortgage request with little problem. 
Revolving loans
What Your College Freshman Needs to Know About Finances. 
Click here for more information >>