Archive for the ‘Personal Loan’ Category

Introduction To Improving Your Chances Of Getting A Personal Loan

Monday, September 22nd, 2008

By: James Miller

Before you begin reading this article here are some useful definitions. An arrear is a legal designation and is a means to indicate when you are past due in making monthly payments on a credit agreement. They will be ‘in arrear’ from the date that their first payment is missed. The term ‘arrears’ is most frequently used when describing over due payment of mortgage, rent, personal loans or credit cards and also child support and taxes.
A ‘CCJ’ refers to County Court Judgement. This refers to a judgement from a County Court against someone who is presently in debt to another party (a person or business) or a case where they have not fulfilled the terms of a credit agreement. The Judgement will administer an acceptable instalment timetable with the idea that the person in debt will eventually be able to cover what they have borrowed. These judgements are a matter of official public record and will have an impact on the debtor’s chance of being granted further credit for the next 72 months.
A default is a term that is used to refer to when you’ve violated your borrowing agreements. If you have missed a payment on a mail in account, for example, they might put a Notice of Default on to your credit file. This will reflect badly on your credit report at some point when you wish to request additional credit.
A credit record is basically a written record of what credit that you have had in the last 6 years. It indicates the amounts you have borrowed and if you have missed any payments etc. A credit record allows would-be loan companies to look at your financial history to enable them to make a decision as to whether to give you credit. The information on your report is assembled by credit reference agencies for example, Experian and Equifax. They use statistics from public sources (e.g. the electoral roll, legal judgments etc) and from loan companies as well as financial institutions: e.g. credit accounts, credit applications.
First of all, get an up-to-date copy of your credit file to see if there are any inaccuracies on it such as a satisfied County Court Judgment (CCJ) that is still showing as unsatisfied or debt that is still showing as outstanding. You can get a copy of your report from one of the credit referencing agencies such as Equifax, Experian or CallCredit PLC for around �2.
If you do see any errors or inaccuracies, these should be notified to the relevant lender in writing.
Check that you don’t have any financial associations or financial connections on your file that aren’t relevant. For example, if someone you have lived with previously – or even someone who was at your address before you – is shown as still being there on your report, this could affect your credit rating.
Make sure that you are on the Electoral Roll – especially if you have recently moved. This can seriously affect your chances of getting credit if you are not showing on there.
At all costs, avoid companies who say that they repair your credit! Any changes that need to be made to your credit file can be instigated by you. You do not need to pay a third party to do it on your behalf.
Keep checking your credit report regularly – this way you can keep an eye on it.
If an application is refused, do not make repeated applications again or elsewhere. Find out why you were declined and take steps to put it right. Lots of declined applications on your file will make the situation worse.
Finally, when making an application, always fill in the correct details each time, especially moving home dates. Failure to do – or even a slip of the pen – could see you being refused credit.

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Low Apr Personal Loan!

Thursday, September 18th, 2008

Author: Sadhana Dhanyal

Every borrower looks forward to avail loans at a lower rate of interest. However, finding one may not be that easy. There are many lenders who offer these loans at a lower rate of interest. Looking online can help you secure one easily. Fulfill all your personal needs through these loans.
A favourable credit score will ensure you get a loan approved quickly. In the absence of it, you can still secure a loan. Wondering how is it possible? Doing some research online can help you avail a loan easily. It is the easiest and fastest method of securing a loan. A borrower can easily avoid all the hassles associated with the traditional types of loans.
These loans also do not involve lengthy process. One can use them for any of the personal needs like home renovation, buying a property, meet educational needs, and so on. Moreover, one can repay these loans in easy monthly installments. Low APR personal loan online offer borrowers in urgent need of money avail loans easily.
There are many loan companies in UK offering loans at a lower rate of interest. Any borrower who is a resident of UK and is on the lookout for loans can opt for these loans. These companies take upon the responsibility of providing a suitable loan depending upon the personal requirement of each borrower.
A low annual percentage rate is directly dependent on the credit score of the borrower. Hence, it is advisable to keep up with the payments.  However, it may not be possible for every borrower to have a perfect credit score. In such a circumstance, you can consider opting for low APR loan company UK. These loans can be availed by those who fall in the age group of 21to 80 years. Both homeowners and non homeowners can avail these loans. It is advisable to repay the loan on time as it will help you improve your credit rating immediately.
You can easily do away with hefty payments on the current loan by opting for 100% loan at low APR. No matter what your personal requirement is, you can fulfill them all through these loans. The biggest advantage of these loans is that one can save a substantial amount of money too by avoiding paying a higher rate of interest.
Stop worrying about a poor credit score right away by opting for these loans. One can reap maximum benefits by applying for thee loans. There are many lenders online offering these loans. Ensure that you do a careful research before opting for any particular loan. The online option allows you to compare the existing rates and choose the bets type of loan that suits your personal needs most.

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Personal Loans – Tips For A Less Burdensome Deal

Saturday, September 13th, 2008

by: Simon Tauffel

People need money for variety of purposes. They can find personal loans as per their requirements and circumstances. However, if availed without first taking all of its aspects into account, the same loan may become a source of financial trouble in the coming days.
Through these loans, you can meet expenditures on home improvements, wedding, car purchasing, holiday tour etc. The loan comes for a particular purpose, or you are free to put it for variety of uses.
Personal loans are accessible in secured or unsecured options. For the requirement of greater loan of up to £75000, you need to pledge your valued asset like home or a vehicle, as collateral. The advantage of such a secured loan is lower rate of interest. Greater amount of loan comes with larger repayment duration of 5 to 30 years. However, avoid carrying the loan for many more years, as you will end-up making high interest payments.
On the other hand, the unsecured loans provides only smaller amount of up to £25000, for a short period of few months to 15 years, depending on the loan amount and your circumstances. These loans depend on the lenders’ faith in you. Hence, people find the loan approval with ease, if they have a good credit history. Both tenants and homeowners are eligible to take out these loans without collateral. However, interest rate will be on higher side.
People can take these loans with bad credit history as well. They need to prove their intention of repaying the loan on time. However, interest rate will go higher.
It is advisable to apply for rate quotes of personal loans. While comparing the loan offers, you should also be aware of the additional fees on these loans. For a less costly loan, ensure that the rate is lower and the fee charges are fewer.

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Personal Loans for All Occasions

Friday, August 29th, 2008

By Ruth Stanhop

Do you have question in your mind like why to choose personal loans? Well, the answer is quite simple i.e., the flexibility associated with it. There are mainly two types of personal loans i.e., secured and unsecured. If you are a homeowner, you can go for Secured Personal Loans. On the other hand, if you are a tenant, then unsecured personal loans are for you.
Personal loans with all the flexibility can be used for many purposes like buying a new car, debt consolidation, for higher education, home improvements, holidays and lot more. As such type of loan opens the gate for both i.e., for a homeowner as well as for tenants, it’s most popular loan in the UK market.
Secured Personal loans: It is simply a personal loan where loan is secured against collateral. Secured loans are best suitable when you have any of the situations like
• Looking for large loan amount
• Difficulty in getting unsecured loans
• Having a bad credit history
• Loans at low rate of interest
• Longer repayment periods
Unsecured personal loan: For tenants, Unsecured Personal Loans are a boon. Unsecured personal loans are not taken against collateral. Lenders are at risk for such type of loan. Lenders have no claim on borrower’s property. But in case, borrowers do not repay the loan amount on time, lenders may take legal action against them.
Unsecured personal loans come at high rate of interest as compared to secured personal loans. Repayment periods are also shorter.
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 Loans-Bazaar as a finance specialist.
For more information please visit
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Get More Options with Personal Loans

Tuesday, August 26th, 2008

By Amanda Pane

You need not depend on your friends and relatives every time you require funds. Personal loans are there to take care of all your financial demands. You can take personal loans for the purposes of debt consolidation, vacation, home improvement or for purchase of durable goods. So, have your own reason to take personal loans and make merry with personal loans.
Personal loans are multipurpose loans providing you all the freedom to use funds in any manner you want. The lender is not concerned with the purpose of the loan. If you are in financial mess and need some funds without any restriction over their use then personal loans are the best option. There are many financial websites that provide you assistance in arranging personal loans. You can get personal loans at very competitive rates since the UK financial market is already inundated with the presence of large number of moneylenders.
Personal loans can be broadly classified into secured and unsecured loans. The basic difference between these two types of loans is the requirement of collateral. Secured personal loans require collateral whereas unsecured personal loans do not.
If you want big loan amount, long repayment period and low rate of interest then secured personal loans will suit you the most. However, if you are in hurry and want quick funds then unsecured personal loans are more appropriate. Online personal loans make the loan process more convenient and effortless. You can save a lot of time and efforts by applying online.
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 Chance 4 Finance as a finance specialist.
For more information please visit:

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