A Story About Signature Loans for People with Bad Credit
I can think of fifty or seventy-five reasons a person might need to take borrow some cash for a short period of time. Think through this scenario - it's April 5th, and in just ten short days the government is going to be looking for a rather large check in the mail from you. Your previous fiscal year went better than expected, which is turning out to be both a blessing and a curse now that you're staring at your obscenely large tax burden.
So you owe the government some money, and you have one big problem - you spent all your cash reserves (which were supposed to take the fear out of tax day) on a trip to everyone's favorite gambling town in Nevada. You're wishing the government were in favor of such trips, so they'd give you a break on your bill, but no such luck. Yeah, right - it's either pay the bill or pay the interest and penalties.
A lack of cash isn't the only problem you have to resolve before you can pay off the Feds - you're also facing your poor credit history. Remember when you purchased an almost new Ford truck because they were having a year-end blowout sale? You borrowed the money for the truck even when you knew you'd have no real ability to keep up with the large monthly payments, and not much time had gone by before the truck had to be repossessed.
And now you face quite the dilemma - the government wants its money, your cash reserves are empty, and tax day isn't getting any further away. But it doesn't have to be a total loss - you can borrow the money you need, but it's going to take some creativity. You can find signature loans for people with horrible credit.
What exactly is a signature loan? You go to your local bank, fill out their forms, smile, shake their hands, and head home with a wad of cash to help you survive tax day. It's an uncomplicated process, but their going to want more than a big smile from you if they're going to give you the money.
A few complications may arise. One, you'll have to prove to the bank that you actually have earnings to justify their loan. A lender may not mind your bad credit as much if they see that your current income exceeds your personal expenses including the new payment on your loan.
Another qualification requirement may be to secure their money with some type of collateral. Any savvy lender, whether it's a bank or your cousin Mel, likes the idea of being able to recover their money through the sale of your possessions in the event you decide to take off to Mexico before completing your payments. Be smart about what you offer as collateral - the ideal scenario here is you'll give them something with some value, but not something you'd actually be sorry to lose.
If you can convince the bank you're not a major loan risk, you'll end up getting the loan and surviving the day. Next time you should probably be more prudent about the use of your emergency cash reserves and your tax planning. Don't let your financial situation become a vicious cycle!
So you owe the government some money, and you have one big problem - you spent all your cash reserves (which were supposed to take the fear out of tax day) on a trip to everyone's favorite gambling town in Nevada. You're wishing the government were in favor of such trips, so they'd give you a break on your bill, but no such luck. Yeah, right - it's either pay the bill or pay the interest and penalties.
A lack of cash isn't the only problem you have to resolve before you can pay off the Feds - you're also facing your poor credit history. Remember when you purchased an almost new Ford truck because they were having a year-end blowout sale? You borrowed the money for the truck even when you knew you'd have no real ability to keep up with the large monthly payments, and not much time had gone by before the truck had to be repossessed.
And now you face quite the dilemma - the government wants its money, your cash reserves are empty, and tax day isn't getting any further away. But it doesn't have to be a total loss - you can borrow the money you need, but it's going to take some creativity. You can find signature loans for people with horrible credit.
What exactly is a signature loan? You go to your local bank, fill out their forms, smile, shake their hands, and head home with a wad of cash to help you survive tax day. It's an uncomplicated process, but their going to want more than a big smile from you if they're going to give you the money.
A few complications may arise. One, you'll have to prove to the bank that you actually have earnings to justify their loan. A lender may not mind your bad credit as much if they see that your current income exceeds your personal expenses including the new payment on your loan.
Another qualification requirement may be to secure their money with some type of collateral. Any savvy lender, whether it's a bank or your cousin Mel, likes the idea of being able to recover their money through the sale of your possessions in the event you decide to take off to Mexico before completing your payments. Be smart about what you offer as collateral - the ideal scenario here is you'll give them something with some value, but not something you'd actually be sorry to lose.
If you can convince the bank you're not a major loan risk, you'll end up getting the loan and surviving the day. Next time you should probably be more prudent about the use of your emergency cash reserves and your tax planning. Don't let your financial situation become a vicious cycle!
About the Author:
Mark is an expert on bad credit personal signature loans and teaches people how to getsecured signature loans in a cash crunch.
posted by Debt Consolidation Loan at
3:31 AM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home