Getting the Loan You Need Even When Your Credit is Sketchy

Even when you have bad credit, it isn’t impossible to get a loan.  You might have had your credit scores take a hit due to problems you might have been having financially, or you might just be trying to build your credit. Either way, it can be quite a task trying to get a loan in those circumstances. Also, with changes in credit reporting, you need to have a good understanding of the factors that can affect your credit and what you need to do in order to build your credit. Here is a look at what to do if you find that you are having trouble getting the loan you need.

Payday Loan Alternatives

These can be a great way for anyone to get a loan. They are quite easy to qualify for. All you need is an active checking account, a source of income that can be verified, and a social security number that is valid. You will be able to borrow as much as $1,250 and the terms for repayment are flexible. It is quick too. Once you are approved for one of the alternative payday loans online, you can have the money in your account as soon as the next business day. This can also be a great way to build some credit.

Bad Credit

Having horrible credit can be a massive stumbling block when it comes to getting a loan. This is because people with bad credit are looked at as being high risk customers who might well default on the loan and leave their lender holding the bag. The fact of the matter is that until you get that credit score up, you just will not fit the standards when it comes to lending guidelines that the more traditional lenders, like banks, have to adhere to.

Credit Unions

According to Debt.org, if you are a member of a credit union, you might be able to get a loan from them even if your credit is not stellar. Credit unions differ from banks in that they are owned by their members and are nonprofit institutions. If you have a membership in a credit union that is community based or that is affiliated with your employer, they might just be able to overlook your credit score and pay closer attention to your character instead.

P2P Lenders

Have you heard of Peer to Peer lenders? These are a fantastic option if you are looking to get a loan but you have poor credit. With P2P loans, instead of going to a bank and getting the news that you don’t have good enough credit to get a loan, you will be able to borrow from individuals who don’t have the same high overhead costs and rigid rules. They can be a bit more sympathetic. That being said, they are also not actively looking for ways to lose money, so you will need to pay them back.

Friends and Family

Most of the time, P2P lenders will allow you to borrow the money that you need from people who are strangers to you. However, in the event that your credit is truly horrible, your only option other than an alternative payday loan might be to try to get a loan from your family or friends. Because they know you, they might be willing to take a risk. If you do have to get a loan this way though, do it right, so that each party is protected. Make sure to document the terms of the loan on paper, and you might even consider using a third party to make sure that the payments are processed. Even if your family and friends can’t help by lending you the money themselves, they might be willing to cosign for a loan for you.

Collateral

If you seem to be having trouble getting a loan, you might find yourself in the position of having to put something up as collateral. This is when you pledge something of value so that the lender knows that you are serious and they have a better chance of getting their money back. Be careful if you do this though. If you can’t pay it back, you will lose your collateral.

 

3 Tips to Get an Auto Loan You Have Bad Credit

Are you afraid that you’ll be rejected for an auto loan because you have bad credit? This fear kind of takes the excitement out of the car buying process.

According to Bestcar.loans, a website providing advice on how to choose the best bank to refinance auto loan, “Since cars can cost tens of thousands of dollars, most car buyers will want to take out a car loan to finance the majority of the purchase.”

Instead of feeling stressed out and worried, we would like you to feel comfortable in knowing that you will qualify for a bad credit auto loan if you follow the guidance that we are about to share with you today.

With that said, let’s take a look at three powerful tips to help you buy your brand-new dream car even though your current credit score isn’t incredibly impressive.

  1. Preparation Is the Key to Success

If you were still in school and you had a big test coming up, you would study and prepare for it, right?

Well, you have to look at applying for an auto loan when you have bad credit from the same perspective. Because if you do not prepare ahead of time, you’ll have a difficult time qualifying for a loan.

And if you do qualify, you’re probably going to end up spending a fortune over the lifetime of the loan because of a high interest rate.

So, the first thing to do is get your credit score and credit reports from all three credit bureaus. And once you have these documents in your hands or on your computer screen, you need to look over them thoroughly to search for any discrepancies.

If there are errors on your report, take the necessary steps to dispute them. Do this before you apply for the loan, because once you get these errors fixed, your credit score will go up a bit.

Also, during the loan acceptance process, potential lenders are going to try their best to determine if you have stable employment and enough income to afford your monthly loan payments.

So you obviously must make sure you have a job that you can prove to your lender. And know that the longer you’ve been there, the better off you’re going to be. Working at a company for a long time isn’t a deal breaker though, so don’t worry about it too much.

  1. Can You Get a Cosigner for Your Loan?

When attempting to get an auto loan with bad credit, your best bet to get a decent loan is to apply along with a cosigner.

And not just any old cosigner. Make sure this person has very good credit themselves; otherwise they aren’t going to be much help to you.

By having a cosigner with great credit take responsibility for the loan along with you, potential lenders will have a difficult time turning you down.

So it definitely makes sense to find somebody willing to vouch for you as a cosigner, because it all but guarantees that you’ll get approved for your loan at a lower interest rate than you would without a cosigner.

  1. Check for Auto Loan Comparisons

Finally, some auto loans are going to be better than others. And some lenders are going to be more lenient to those with bad credit.

So, it’s in your best interest to compare as many auto loans as possible. Find an online comparison website or manually apply for a loan with each lender.

Conclusion

It may seem impossible to get an auto loan if you have bad credit, but if you follow these guidelines you can certainly make it happen.

Want to Become a Better Photographer? Here’s What You Can Start Doing Today!

A photographer is only as great as his tools and his vision. If you can improve both of these areas, you’re on your way to becoming a renowned photographer. Your techniques are very important, just as in any skilled trade. The more you practice, the more you’ll learn about methods that can improve your snapshots. If you’re new to the world of photographer and would like to become better, then you can use the following tips to help transform your skills into pro status in no time!

Take Photos During the Golden Hour

This happens to be one of the best times of day to shoot a photo. Think of a couple kissing in front of a beautiful golden setting sun or a mountain range with the same scene. It’s hard to go wrong when you take photos during this time of day, which is right before dusk sets in. The light in these scenes really bring out the subjects in your photos, making them look like a picture out of a magazine.

Try the Four Corner Trick

This is a simple trick to help expand your vision for your subjects. All you have to do is put the camera to your eye (or look at the digital screen) and place the subject in each of the four corners. A lot of beginners opt to put their subjects in the middle of the shot each and every time. This kills your creativity. Give this a try to see if one of the four corners would add spice to your snapshots.

Use a Film Camera

Digital cameras have spoiled us rotten. We can take as many photos as we want without penalty. Once it’s full, we can delete hundreds of photos at the push of a button. With a film camera, you’re not so lucky. You only get 24 or 36 shots, which means you have to plan each one more carefully than the last. Once you’re out, you have to put in another. Using a film camera helps you to become more careful about the photographs you take before you push the button. If you don’t have one, you can use your digital camera, but try not to take more than 24 shots.

Teach Others How to Photograph

Sometimes, explaining a topic to someone else helps to bring clarity for yourself. As you’re teaching others about photography, you will come up with methods, tricks and concepts that better help them to understand. This can in turn make you realize how well you understand the art of photography.

Use Models

This can be professional or amateur models. You have to get used to taking photos of people who are moving and posing for the shot. You can practice with family and friends, or even get a job at a photo studio, where models are posing in clothing from Talbots and other department stores for magazines.

Whatever you do to improve your photography skills, don’t give up! One day, you’ll be the photography you’ve always imagined yourself to be.