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.
You face one big challenge: in spite of the fact that you put in reserve the necessary funds for the government's bill, your tax account no longer has any money in it due to the fact that you and some associates took an unplanned vacation to Las Vegas. If only the government had sympathy toward your spontaneous lifestyle, you wouldn't have any stress right now. Unfortunately, they don't, and now you're going to have to get someone to lend you enough money to pay your taxes - or you'll be paying the penalty.
You have another obstacle between you and your on-time payment to the government - you have terrible credit. See, that all goes back to the time you bought a brand new Dodge truck because the dealer made you an offer you couldn't refuse, so you financed the whole thing in spite of the fact that there was no way your meager income would cover the payments. You were soon several months behind, and before you knew it the repo man was taking your shiny rig away to be sold at auction.
So here you are, taxes due, no cash on hand, with a tax bill looming. There is hope, if you know where to look. There are signature loans for people with bad credit. You can qualify, but you have to know what you're doing.
First you should understand what a signature loan is, although it's fairly self explanatory. You walk in, fill out a couple forms, sign your name (hence, signature loan) and walk out with the cash you need. It's that simple, but it may not be that easy unless you can fulfill a couple of the prerequisites.
The first requirement your prospective lender will be looking for is a steady income. They won't mind your terrible credit as much if you can show them your earnings will easily cover the repayment of their funds. There are a number of ways to verify your income, including canceled paychecks, check stubs, or last year's tax forms.
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.
Make a strong case to your prospective bank. Let them know you're a person of integrity, and you will repay the debt if they take a chance on lending you the money. And for future reference - don't spend your tax money in Vegas.
You face one big challenge: in spite of the fact that you put in reserve the necessary funds for the government's bill, your tax account no longer has any money in it due to the fact that you and some associates took an unplanned vacation to Las Vegas. If only the government had sympathy toward your spontaneous lifestyle, you wouldn't have any stress right now. Unfortunately, they don't, and now you're going to have to get someone to lend you enough money to pay your taxes - or you'll be paying the penalty.
You have another obstacle between you and your on-time payment to the government - you have terrible credit. See, that all goes back to the time you bought a brand new Dodge truck because the dealer made you an offer you couldn't refuse, so you financed the whole thing in spite of the fact that there was no way your meager income would cover the payments. You were soon several months behind, and before you knew it the repo man was taking your shiny rig away to be sold at auction.
So here you are, taxes due, no cash on hand, with a tax bill looming. There is hope, if you know where to look. There are signature loans for people with bad credit. You can qualify, but you have to know what you're doing.
First you should understand what a signature loan is, although it's fairly self explanatory. You walk in, fill out a couple forms, sign your name (hence, signature loan) and walk out with the cash you need. It's that simple, but it may not be that easy unless you can fulfill a couple of the prerequisites.
The first requirement your prospective lender will be looking for is a steady income. They won't mind your terrible credit as much if you can show them your earnings will easily cover the repayment of their funds. There are a number of ways to verify your income, including canceled paychecks, check stubs, or last year's tax forms.
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.
Make a strong case to your prospective bank. Let them know you're a person of integrity, and you will repay the debt if they take a chance on lending you the money. And for future reference - don't spend your tax money in Vegas.
About the Author:
Mark is the local expert on all kinds of financial tools, including bad credit personal signature loans and payday signature loans.
posted by Debt Consolidation Loan at
10:07 AM
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