Is Getting An Unsecured Personal Loan Tough These Days?

Having a debt management plan is just as important as having a debt reduction plan. It can save you hundreds or thousands of dollars in interest, and maybe even reduce the total amount of time it takes for you to be come debt-free.

Let’s say you are the average couple who makes 45k a year both working a job. The reality is that in most households both the husband and wife must work outside the home to make ends meet. Each individual produces $22-$26k a year to produce the household income. Then, after taxes and benefits, you have the priveledge to take home about half your income. In this case, it will be about $22,500.00.

Before you follow these three steps, you first need to make absolutely certain that a no credit check loan is the best option for you. Remember, there are several alternatives out there such as private from friends and family members. Also, be wary of most people who claim to offer no credit check loans, since many times this is a code phrase for a payday loan or cash advance loan which cannot help you in the long term. The best way to get a true no credit check loan is through BBB accredited lenders who offer loans with a cosigner.

If you need to reduce your closing costs, you typically have the choice of decreasing the points by increasing the rate. Mortgage rates are priced to allow you to buy the interest rate up or down.

The key to getting a real loan with no credit check is to use a cosigner whose credit score is far better than your own. This person will use his or her good credit score to insure your loan and basically agree to take the fall should you fail to repay your debt. Therefore, the person that you choose as a cosigner should be someone close to you and with whom you share a great deal of trust. Backing out of a loan with a cosigner can ruin a relationship forever since that person will be forced to repay your obligation.

I understand if you are looking at this article that you do not have a lot of money left over each month. However, start budgeting so you have at least $10 to put extra onto the principle of that credit card. If your balance for next month is $200.00, pay $210.00 if that is all you can afford. From there intend on paying that $210.00 each month until the card is paid off. As you balance lowers, so will the payment they ask you to pay.

It has to be said that companies that came out looking clean after the meltdown have pretty much earned a reputation for doing things right and should offer the best security.

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