Post-Bankruptcy Mortgage Refinancing Myths

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Post-Bankruptcy Mortgage Refinancing Myths
When it comes to getting a mortgage refinance or other types of credit after bankruptcy, there are a lot of misconceptions. Here are a few of the most common post-bankruptcy mortgage refinancing myths specifically for Alaska residents.

Myth #1: You Can’t Get Approved for a Mortgage Refinance After Bankruptcy

Because this is such a common myth, many people avoid bankruptcy out of fear that they will never get any type of credit again. The truth of the matter is that even after bankruptcy, you will continue to get offers for credit cards, auto loans, and yes, even mortgage refinances. There are many lenders out there who will be willing to work with you to get you the Alaska mortgage refinance loan you need.

Myth #2: You Can’t Get a Good Rate on a Mortgage Refinance After Bankruptcy

While it is true that you may be asked to pay a higher rate on your Alaska mortgage refinance than someone with good credit, a bankruptcy may not affect your interest rate as much as you think it will. A recent survey of lenders showed that borrowers in Alaska who have a bankruptcy on their credit were asked to pay a rate that was only half a percentage point higher than someone with bad credit.

Myth #3: You Can’t Get a Mortgage Refinance for at Least Two Years After a Bankruptcy

Only the strictest of lenders will make you wait two years after your bankruptcy has discharged. Other lenders will be willing to offer you an Alaska mortgage refinance during or immediately after your bankruptcy proceedings. You can take advantage of these offers, as well as the Alaska guidelines that allow you to get an extra large jumbo mortgage, to refinance your home and get cash back at closing. Any cash you receive can go towards paying off your bankruptcy debts and rebuilding your credit.

Visit Alaska Lending Center to see our Recommended After Bankruptcy Mortgage Refinance Lenders Servicing Alaska, whether you are looking for home purchase, refinance or a home equity loan.


Bad Credit Auto Loan Financing – Comparing Auto Loan Offers

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Bad Credit Auto Loan Financing – Comparing Auto Loan Offers
If you are purchasing a new vehicle with bad credit, comparing loan offers is an essential part of the car buying process. Having bad credit makes you susceptible to higher interest rates and fees. Fortunately, there are ways to bypass fees. This involves choosing the right auto lender and getting approved for a good loan.

Reasons to Finance a Vehicle with Bad Credit

Some people with bad credit avoid financing a vehicle. Because lenders review credit reports and scores before granting a loan, some believe that getting approved is impossible with their current credit standing. However, this is the quite the opposite. In fact, because auto loans are collateral loans, these are easier to qualify for. True, you may be penalized for having bad credit. Nonetheless, obtaining an auto loan is perfect for boosting credit rating. Also, you have the option of refinancing the loan once your credit improves.

Bad Credit Auto Loan Lenders

Many auto lenders offer bad credit vehicle loans. When shopping for an auto loan, getting multiple offers from different types of lenders is wise. Some lenders are eager to help you purchase a new vehicle. On the other hand, there are lenders hoping to make a profit off of your bad situation. New car buyers may fall prey to their schemes.

The best way to avoid a fraudulent auto loan lender is to compare their offer to other lenders. If you accept the first auto loan offer received, you may be agreeing to a bad loan. Some car buyers finance their vehicles with a �buy here, pay here� dealership. These car dealerships can help improve your credit. Still, keep an open eye for bad loans.

How to Compare Auto Loan Offers?

Getting multiple offers for an auto loan requires little effort. To make the process easy and convenient, think about applying for auto loans online. If purchasing the car from a dealership, compare the dealer�s offer to online offers. This way, you get the lowest possible rate.

Auto loan brokers also provide a valuable service. If you have bad credit, sub prime lenders may be able to offer you a comparable rate. Brokers have access to various sub prime lenders. Hence, they can assist you with locating an appropriate auto loan.

View our recommended lenders for Bad Credit Car Loans.

Carrie Reeder owns ABC Loan Guide, an online resource with information about Car Loan lenders and Mortgage Brokers Online.

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No Credit Car Loans – Build Your Credit History!

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No Credit Car Loans – Build Your Credit History!
Do you have no credit? Do you think getting approved for a car loan with no credit is not possible? Wrong! One of the best means of building a no credit history into a positive one is to apply for a car loan!

How can I get approved for a car loan with no credit history? It is not hard at all to get approved for auto loans with no credit. When you apply for a car loan with Premier Auto Financing, your automobile acts as security for your loan. This means that if you do not pay the loan, your car will be repossessed. Not only will having your car repossessed hurt your credit rating, it will now be very hard for you to get approved for a car loan again.

How does a car loan help build my no credit history into a positive one? The monthly payments you make for your car loan are reported to all three major credit reporting agencies every month. So, a positive payment history will be reflective on your credit score. On the contrary, if you do not make your payments on time, your credit will be adversely affected. So, it is important that you not only make your payments, but that you make them on time, every month!
If you want to reap the credit building benefits of an auto loan, it is crucial that you make your auto loan payments on time, every month. To ensure that timely payments are never a problem, make sure that you purchase a car that is within your price range. Be practical and determine what your needs and wants are. This is your first car. There is always room for improvement and upgrading. It is not too wise to buy a car that has the best sound system or the nicest rims if you can not afford these items. Before you purchase any car, determine how much you can afford. If your calculations indicate that you may have to strain to pay for your car financing, then you are looking to purchase a car that is not in your budget.

What are the interest rates associated with auto loans for people with no credit? Being that you have no credit, your auto loan rate will obviously be higher than someone with a strong credit history. But, the interest rate associated with your financing will be lower than applicants that have poor credit. There are other variables that will affect that interest rate of your auto loan. Some of these variables will include what state you live in, what kind of car you are buying, if you are buying a new our used automobile, the amount of money you put down and/or the amount of time your are looking for financing (most auto loan terms range between 1-6 years).

Jacob Andrews is the webmaster/marketer of Premier Auto Financing. Premier Auto Financing specializes in providing car loans with no credit. When you use Premier Auto Financing for your auto financing, you can purchase a car from a private seller or from a dealer. The choice is yours!


Bad Credit Car Loans – The Taboo Is Broken!

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Bad Credit Car Loans – The Taboo Is Broken!
Bad credit car loans have changed the situation existing just a few years ago when you were doomed if you had run foul of banks. Today, you can realize your dream and probably even your livelihood by accepting poor credit auto loans. How has this happened?

The answer to this is simple. Over the years, banks have realized that they were missing vast opportunities by being too rigid about their auto financing norms. Just because a person had bad credit at some point in time, it did not necessarily imply that he was to be tarred and feathered and paraded in the streets. That is how the bad credit refinance car loan plans started.

Take Advantage Of Improving Finances

If your finances have improved, you can get bad credit car loans easily by simply proving to the bank that your position is different today. If you are able to put up a decent down payment and have built up a stable employment history, there is no reason why poor credit auto loans should not be forthcoming. After all, the bad credit refinance car loan providers are looking to lend their money to those who have a good chance of returning it!

Consider Re-finance

What are your options if you are stuck with high interest auto financing? A simple way out is to see if you can refinance you car loan. By refinancing, you transfer your high interest debt to another financer who will charge you lower rates. While your track record is an important ingredient in getting you good interest rates, remember that there are bad credit refinance car loan companies that will be willing to refinance your car even if your credit is not too hot. These companies have certain fixed criteria to assess if a loan can be given.

To begin with, they assess the current market value of your car. If the refinancing you need is a small percentage of this, you can take it for granted that auto financing will be available. The amount of down payment you have made is also an important consideration. Generally, they re interested in a certain minimum amount. If your needs are too small, they may not be interested.

All told, it is a different world we are living in. If you have the drive, you can get your car without too much of trouble. Bad credit car loans are there to help you if you only ask!

With the maturing of the auto financing industry, banks are much more liberal about bad credit car loans than they were earlier. You can even change your poor credit auto loans lender if you get better terms.


Auto Loan – How to Get Approved for a Bad Credit Car Loan

Bad Credit Auto Title Secured Loans » Get Auto Loan With Bad Credit

Auto Loan – How to Get Approved for a Bad Credit Car Loan
Auto loans are easier to get approved for than other, unsecured lines of credit because they are secured by the car you purchase. So, even with bad credit, it�s possible to get approved for a bad credit car loan. This article offers tips on getting approved for an auto loan with bad credit:

Borrow Less Than the Car Is Worth

If you have bad credit, lenders are going to want to make sure that, even if you don�t pay your loan, they can resale the car and get their money back. For this reason, it�s important that you take out a loan for less than the car�s appraised amount. For example, if the car you�re buying is worth $15,000, you�ll want to borrow less than that amount. Usually that means making a significant down payment. Making a down payment makes you less of a risk to a borrower, therefore improving your chances of being approved.

Search for Lenders Online

If the only place you search for a car loan is the car lot, then you�re not going to know whether the rates they�re offering you are reasonable or not. Dealerships are notorious for telling people that they cannot get approved for a better loan because of their credit when, in reality, this is not true. Even with bad credit, on a secured loan you should be able to get a decent interest rate. Shop online before going to the car lot and get an idea of what type of loan you can get from other lenders.

Make Timely Payments on Your Other Credit Accounts

In the months before you apply for a car loan, make timely payment on your other credit accounts. Even if you just have a few months of timely payments prior to applying for an auto loan, it will look much better than applying for a loan with recent negative reporting from your other creditors. If you can prove that your poor payment history is a thing of the past, a lender is much more likely to approve your car loan.

Visit Car Loan Sense to view our Recommended Auto Loan Lenders online. Also, visit Car Loan Sense for help finding a reputable Bad Credit Auto Lender.


Money Against Signature � Bad Credit Signature Loans

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Money Against Signature � Bad Credit Signature Loans
Generally, signature loans are meant for the people with good credit but as the people with bad credit are increasing in numbers, lenders have come up with the concept of bad credit signature loans.

A bad credit signature loan is one which doesn�t require the borrower to offer any collateral to the lender for approval. It is so called signature loan as only the signature of the borrower is required to secure the loan. These loans are for a fixed term and are based upon borrower�s promise to repay the loan amount. These loans can be used in many ways such as student loan, holiday loan, home improvements, business, education or even debt consolidation. Whatever be the purpose, the bad credit signature loans is ready to serve all of them.

The amounts which you can apply for under a best credit signature loan can go up to ₤15000 and more in certain cases. Loan lenders will also look at your repayment capacity and income while lending you the bad credit signature loan. The term for a bad credit signature loan varies between 6 months to few years depending upon the amount borrowed. People who can apply for a bad credit signature loans consists of defaulters, CCJ�s and IVA�s, arrears and other such people with a bad credit score.

A bad credit score is one which lies below the figure of 500. It is very essential to have knowledge of your credit score before applying for bad credit signature loans. To get your credit report and credit score, you can log on the websites of the credit rating agencies such as Experian, Equifax and Transunion. You can compare these reports and report back to these agencies if you find any error in these reports.

Bad credit signature loans are offered through numerous lending institutions including banks and credit unions. But these days, private lenders have been becoming popular as they are easily accessible to a common borrower. They are ready to make negotiations with borrowers for the loan packages and are more flexible in dealing with borrowers with bad credit.

To find a bad credit signature loan lender you can go through the numerous online loan quotes available. You can sort out the ones with low rates and easy repayment terms. The benefit here lies in choosing the one which not only gives you apt cash but also is easier to repay from your pocket.

Lastly fill the simple online application form with your personal details, employment status and loan amount required to get the further services from the lender. A bad credit signature loan can be the aid you are looking for to fulfil your needs.

Peter Taylor is a senior financial analyst at Badcreditloans with an acumen for finance and insurance.To find Bad credit loans, bad credit personal loans, bad credit auto loans, bad credit home loans, bad credit signature loan, auto loans for bad credit, personal loans for bad credit that best suits your need visit


A Bad Credit Scorer Can Easily Become A Car Owner

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A Bad Credit Scorer Can Easily Become A Car Owner
In present world, number of people suffering from bad credit problems is in the tens of millions. One facing such problems should not worry at all. With time and some diligence, a bad credit rating can slowly be changed for the better. People with credit problems are getting financed on car loans all the time. There are lenders providing car loans to people with credit problems. Such lenders have specialized themselves in providing bad credit auto loans and special finance loan options for automotive financing consumers with credit problems.

If you are interested in getting an auto loan with bad credit, you should understand that it is possible. Bad credit auto loan are specifically meant for people who have a poor credit history and can�t qualify for a regular auto loan. Everyone can get an auto loan despite having a bad credit rating. There are many lenders willing to offer bad credit loans for people with bad credit and you can take advantage of their offers and the highly competitive loan market.

Bad credit auto loans always have a much higher rate than regular auto loans. In order to ensure that your credit remains good, you should make payments on time In the case of bad credit auto loans, even the slightest delay in payment has to be avoided if you intend to use the loan to help rebuild your credit. Bad credit auto loans not only offers a second chance to purchase a car but you are also given a fair chance of rebuilding your credit score. However, if you are not careful enough it could turn out to be a means of making your bad credit even worse. Therefore, once you succeed in securing a bad credit auto loan you need to take extra care and precaution to make sure each and every payment is made on time.

If you are able to secure a bad credit auto loan, a higher down payment initially can help you to obtain a much lower interest rate. Higher the amount of money you put down, the lower the risk for the lender and hence, the lower the interest rate you�ll have to pay. Also, always review your credit report before trying to get an auto loan with bad credit. Check that all your personal information is updated and that there are no discrepancies. Make sure to compare quotes and search for lenders online.

Many lenders have bad credit auto loan and bad credit car loan financing programs specifically established for bad credit car loan buyers with credit problems and unique sub prime auto loan requirements. Companies help car buyers who have been turned away from traditional dealerships pre qualify for bad credit auto loans, bad credit car loans etc regardless of credit problems or car loan payment history.

Car buying experience should always be positive, quick and hassle-free. One who is aware of the power of bad credit auto loans can re-establish their credit score. Over the years car loan lenders had an exceptional record of helping car buyers with credit problems.

Wain Roy is an internet marketing professional expert in various industries like real estate, web design, finance, medical tourism, Canadian pharmacy drug and bad credit auto loan

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How To Get Auto Loan With Bad Credit?

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How To Get Auto Loan With Bad Credit?
There are millions of people with bad credit and it can happen to anyone so it�s really nothing to be ashamed of. But it can be frustrating when you need or want to buy a decent car and don�t have the luxury of waiting until your credit score improves. You have a higher chance of being rejected a loan but it is possible. The first thing you have to understand is, if you do get financed somewhere, you will NOT get a low interest rate! Lenders verify your income and address so you must have a sufficient income to pay your bills, car payment, insurance as well as being able to afford the repair and maintenance costs. Nobody will take a chance on you unless they are certain you can afford it. Keep in mind that you should never take on a car payment you know you can not afford. Other thing lenders will consider is the length of time you have been at your current job, obviously the longer the better chance you will have. The same thing applies with how long you have been at your current address.

Your best bet of getting a loan with bad credit is to belong to a Credit Union and apply to them if you can�t get one from the bank. They often have more relaxed loan criteria and it is especially true if you have been involved with them for a length of time. Now, don�t give up hope on the banks either. If you�ve had a relationship with your local bank, they�re also worth a try. Specially, if you�ve had any small loan with them and a better shot if you�ve paid off a loan with them in the past. If the manufacturer of the car you want has their own credit institution, they can be another good source. They�re more flexible on the loan criteria and can be aggressive in financing.

But all in all, trying to get an auto loan on a bad credit is not highly recommended. You not only have to pay higher loan rates but also a rather substantial down payment that could be as high as in the thousands rather than hundreds. So if possible, consider waiting and working on fixing your bad credit and get your score up to at least 680 before applying for your auto loan.

If you are looking to buy a car, I advise you to do your homework. Don’t forget to check out our Tips & Auto Value Quotes Review section. We have the best car buying tips.

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Car Loans for People with Bad Credit – Getting an Auto Loan after Bankruptcy

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Car Loans for People with Bad Credit – Getting an Auto Loan after Bankruptcy
Getting credit after a bankruptcy is not easy. This includes credit for mortgages, vehicle loans, consumer loans, etc. In this circumstance, individuals who have recently filed bankruptcy may opt to pay for everything in cash. While this may appear to be a good solution to credit problems, if you need to purchase a new car, paying for the vehicle in cash may be impossible. In this case, you will need to obtain an auto loan.

Can You Get an Auto Loan after a Bankruptcy

A bankruptcy on your credit report justifies a credit application denial. As a rule, lenders do not want to offer money to bad credit candidates. The probability that you will default on the loan is high. Nonetheless, some creditors are willing to make an exception with auto loans. The vehicle secures the auto loan. If you do not pay back the auto loan, the lender can easily take back your vehicle.

Criteria for Obtaining an Auto Loan after Bankruptcy

If you are interested in receiving an auto loan after bankruptcy, be ready to pay a higher percentage rate. Moreover, lenders have specific qualification criteria’s. For example, some lenders require that individuals with a recent bankruptcy have a minimum monthly income. This amount varies lender to lender.

In addition, a lender may require you to have the same residence and employment for at least six months. To obtain a car loan, you must also be at least 18-years-old, or have a co-signer. Additional criteria’s include not having a previous repossession within the last year, and the bankruptcy must be discharged.

How to Improve Your Chances of Getting an Auto Loan

Auto loans are great for individuals hoping to rebuild their credit. After a bankruptcy, it is vital to open new accounts. In addition to obtaining a car loan, you may consider getting a secured or unsecured credit card. The interest rate you receive on your auto loan may be a few percentage points higher. However, if you work towards improving your credit rating, you may have the opportunity to refinance the auto loan. Refinancing for a lower rate may decrease your monthly payments.

Here are our Recommended Bad Credit Auto Finance Companies Online.

Carrie Reeder is the owner of ABC Loan Guide, an informational website about various types of loans.


Bad Credit Car Loan � Even Bankruptcy Cannot Deter You From Getting A Car Loan

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Bad Credit Car Loan � Even Bankruptcy Cannot Deter You From Getting A Car Loan
Everyone needs a car irrespective of his or her credit score. Having a bad credit score does not take away your right to own a car. A bad credit history may include arrears, default, county court judgements, bankruptcy, etc. Due to some unavoidable circumstances, you may miss out at your monthly repayments. This is bad for your credit score. A late payment has an adverse effect on your credit score. Default on the loan repayment is even worse.

Another thing that has a negative effect on the credit score is bankruptcy. If you find it difficult to pay monthly installments because of high rates of interest, you can take out a low rate loan and consolidate your debt into a single, affordable loan. If even this does not help, then you will have to file for bankruptcy. When you are declared bankrupt, you are discharged of all your debt obligations. However, bankruptcy remains on the credit score for a number of years. During all this period, you will find it very difficult to obtain a fresh loan.

Do not get depressed. You can take out a bad credit car loan to buy a car. Bad credit loans are specifically given to those who have a bad credit history. The rates of interest on bad credit loans are higher than the rates on other loans. Before applying for a bad credit car loan, take a look at your credit score. You might be able to repair your credit score. Talk to your lender and he might help you repay your loan. He might even waive off some part of your unpaid loan balance. Explain your reason for default and the new lender might offer you a loan at a better rate of interest.

Your next step is to find a bad credit car loan. You can apply for a car loan over the internet. Get a car loan as per your needs and financial position. Once you get a bad credit car loan, make regular payments as per the loan terms. This will improve your credit score. Once your credit score improves, consider refinancing your car. The second loan will carry a lower rate of interest than your first loan. This will help you save a lot of money.

About the Author:

The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting bad-credit-auto-loan as a finance specialist.

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