BAD CREDIT HELP – Instant bad credit loan

Question by Mike D!: How can you go about getting a personal loan from a bank? What collateral do you usually need?
I will probably need to replace my car soon, but I don’t know that I want a traditional car loan because it would require having more insurance, and thus be rather expensive for me. (It’d be about double for me, as I don’t have a spotless driving record). I was wondering if instead I could get a personal loan from the bank, say in the neighborhood of -5K and use that for a car thus saving me a bunch of money by not needing collision coverage if I could pay for the car in cash.

Now the questions … is this possible, or is there usually some stipulation that you can’t use a personal loan for a car? What sort of collateral do you usually need for a personal loan? If you have good credit, can you get one w/out collateral? Any info would be greatly appreciated! Thanks!

Best answer:

Answer by WhiteWolf359
I don’t know what state you live in, but in Florida you are required to have collision insurance for at least ,000, even if you own your car. As to personal loans, yes, if you have good credit, you can usually get one with no collateral. Just explain to the bank that you want the money to purchase a new car, and arrange a repayment schedule based on your current income. Most banks will do that.

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Question by ☁ fmyLife ☂: How do I rebuild my credit, from bad to good?
I’m only 19 years old, a college student and I have a bad credit score.

I have a Student Credit Card with my credit union, but I always make at least the minimum payment on it every month.

I recently gave birth, and I feel like my bad credit is coming from the hospital bills, and it being reported to the credit company. The thing is, I’ve always had insurance, but for some reason the bills keep coming to me.

How and can I file a despute, and how can I rebuild my credit?

Best answer:

Answer by Judy
Secret to top credit ratings:
Use a credit card wisely.
Charge things you need like food or gas and pay in full each month.
Carrying balances can destroy your credit score.

You sent a red flag.
You are only making the minimum payment for your credit card.
Pay it in full to give your credit score a huge boost.
It is 100% myth that carrying balances is good for your credit.
Not sure how that rumor EVER got started.

Hospitals don’t send things to collection companies right away.
They will give you about 6 months to a year before they do this.
Take care of those bills with the insurance company.
Ask them why they are not paying them.
Pretty sure they are not on your credit report yet.
Hospitals are not that cruel – they will give you time to pay THEIR collection department before sending it to the credit bureaus collection agencies.
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Bad credit: cashing in on the new bankruptcy law.: An article from: Commonweal

This digital document is an article from Commonweal, published by Thomson Gale on May 20, 2005. The length of the article is 1583 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Bad credit: cashing in on the new bankruptcy law.
Author: Mark Sargent
Publication: Commonweal (Magazine/Journal)
Date: May 20, 2005
Publisher: Thomson Gale
Volume: 132 Issue: 10 Page: 9(3)

Distributed by Thomson Gale

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Free Yourself from Student Loan Debt: Get Out from Under Once and for All

An estimated seven million Americans have accumulated nearly billion in student loan debt over the past 30 years. Not all of these borrowers are fresh out of college; many are in their late 20s, 30s, and even 40s. Indeed, the amount of student loan debt facing Americans is pervasive, if not problematic. Fortunately, a number of creative ways exist to pay off this financial burden that, for many, goes on for years and years. In Free Yourself from Student Loan Debt, business writer Brian O’Connell outlines the best ways to do just that-as quickly and painlessly as possible. He guides readers through often overlooked but perfectly legitimate loan management techniques, including how to: • “Consolidate” loans for easier (and lower

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Interlibrary Loan Sharks and Seedy Roms: Cartoons from Libraryland

Cartoonist Benita Epstein sees libraryland as a place full of offbeat characters, such as the patrons who need references-for their rsums, of course. Or as a technological jungle where signs read “Beware of the DOS.” In short, she sees a place where we can always enjoy a chuckle and sometimes a good laugh.

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