“Hey! Pete. It’s Steve!” “What’s up, Steve? You sound a little stressed.”
In this day and age of people relocating to other countries, be it for work, retirement, or just an extended stay, a question that might be asked about personal finances is: Does an individual’s credit score follow them to the new country?
Here is the truth – everyone should be aware that emergency situations must be given special attention. While not all people would want to anticipate their occurrence, it cannot be denied that everyone should prepare for the rainy day, and also have a rainy day fund. These are the times when the going got tough.
The unpredictable economy today makes it a struggle for most people to obtain a loan. This situation occurs even for people with good credit. Do not feel discouraged. Having a bad credit on your record does not mean that you will not be able to purchase a car anymore. While it is true that this may take a little more work than the usual, there are still ways to buy a car with bad credit. What are these means?
A guarantor is a person who guarantees to pay for someone else’s debt if he or she should default on a loan obligation. Find a guarantor, and he will act as a co-signer of sorts, in that they pledge their assets or services if a situation arises in which you as the debtor cannot perform your obligations. He is also someone that certifies the likeness of an individual applying for a product or service.
Impossible? Not Really General belief says that bad credit borrowing is impossible. But is that right? It is true that traditional lenders will stay clear of applicants with poor credit histories, but there are lenders out there who are happy to lend $20,000 in a personal loan to somebody with bad credit. Why would they do that? Because all the necessary information boxes have been ticked.
“Hi, Steve here.” “Steve! It’s Janet.” “Hi, Janet, how are you? Did you enjoy the new Star Wars movie the other night with Peter?” “Well, it’s you two who are the Jedi knights and crazy fanatics, but yes, it was a lot of action and fun.”
When Financial Disaster Strikes The current economic circumstances are tough, and financial troubles can happen quite easily. In one moment you are apparently holding your own with your head well above water. Then suddenly you are faced with economic circumstances that may have occurred due to a marketplace change or unexpected events in your financial situation.
If ever there was an urban myth about lending, it’s the one about a death sentence being applied to all subsequent loans after your initial loan rejection, especially if you have bad credit. Contrary to popular belief, lending decisions are not made based on credit scores alone. You can look at bad credit in different scenarios. So, before you make assumptions, it’s better to understand what factors are at play when you make a personal loan application. In the end, it is always possible to improve your profile to comply with lender’s requirements for a bad credit loan.
“Hello, is that you Janet? It’s Steve here. Peter’s friend.” “Hi, Steve. What’s up? Couldn’t get hold of Pete?” “No, he’s out on a delivery or a job somewhere. Sorry to call you at work, but I need a bit of help.” Janet knew Steve’s money problems, so she hesitated a second before asking him: “Err, what can I do to help?”