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  • Does Debt Consolidation Affect Your Credit? | Signature Personal Loan
    from a new lender to pay off your other debtors From a credit perspective when you get a new loan apply for a loan or make payments on your loans your behavior as a credit user will affect your credit report and credit scores This means that how you manage your new consolidation loan has a major impact on your credit Now let s take a look how debt consolidation exactly affects your credit Debt Consolidation Negative Effects It is no secret that a person s credit score will drop slightly when opening a new account A debt consolidation is actually equivalent to opening a new account thus harming your credit However your score eventually will recover if you pay the debt on time On the contrary if you miss a payment or make a late payment your credit score will drop As a result it is important to keep up with your debt consolidation loan or credit payments that you need to make In general the process of debt consolidation often involves negotiating a reduction of the debt that you owe Such tactics actually will harm your credit for the immediate future So bargaining with debtors to try for a lump payment lower than the significant debt doesn t look good In addition closing credit card accounts after you have consolidated the debt can also have a negative effect on your credit Sure you can combine several different credit cards into one single credit card account But don t close your oldest accounts as they will give you the longest credit history Before credit card accounts are closed you might also want to wait until you pay off the debt This is because your overall available credit will drop and also your debt level will still remain That would

    Original URL path: http://www.signaturepersonalloan.com/does-debt-consolidation-affect-your-credit/ (2016-04-25)
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  • Financial Lending Options are Improving for Consumers In 2012 | Signature Personal Loan
    loan today than it was before the housing crisis started As long as we don t see another blow to the US economy the people behind on their credit card or mortgage payments are expected to drop throughout 2012 says the credit reporting agency Transunion Which means applying for a new credit card or home loan will improve for consumers this year This year we should see a significant decline in foreclose rates also There may be a little pressure on unemployment and house prices in the first half of the year but after that we should see some major positivity like new increases in the quality of credit originations and consumer confidence ability and willingness to pay their mortgages If things go as predicted delinquencies should fall by a rate as high as 18 this year as opposed to last year this significant drop will keep rates above the pre recession rate of 2 With credit card delinquencies down the number of cardholders behind on their payments by more than 90 days has reached the lowest level in almost 17 years These historically low credit card delinquencies are reflective of stricter regulations and tighter lending policies which generally prevent people with poor credit from getting a new card Lenders are still very willing to lend but are really out pursuing the best customers by offering promos like a no fee 0 balance transfer card for up to 24 months What has factored into the large drop of mortgage and credit card delinquency is a shift in consumer priorities In the past people that were strapped paid their mortgage first to protect their primary investment and the attachment of their home ownership When so many people were not able to pay on their mortgages they chose to make their credit

    Original URL path: http://www.signaturepersonalloan.com/financial-lending-options-are-improving-for-consumers-in-2012/ (2016-04-25)
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  • Choose A Personal Loan Over A Cash Advance For Better Loan Rates | Signature Personal Loan
    use to borrow actual cash or currency against their present credit balance Generally the amount of cash available to credit card users is only a tiny percentage of their total credit limit Not only that cash advances generally have a higher rate of interest charge than most other loans and prove to be more expensive in the long run That is because the rate of interest charged on a cash advance loan is often as high as 23 Also it is rare to enjoy a grace interest free period Though expensive cash payments against cash advances are helpful in situations like medical emergencies and it always helps to take out a currency advance against your credit card balance rather than bank on a debit card or cutting out a cheque But any money that you accept through a cash advance will be typically added to your total balance that you owe to the bank and can turn out to be extremely expensive This is where a personal loan becomes helpful to reduce costs and get better rates of interest But though they seem to have a lot of formalities and paperwork and such getting personal loans for one self today have become much simplified with easy availability and even doorstep delivery Personal loans do take a little bit longer to be approved including undergoing checks about your employment eligibility in terms of age and place of residence plus requiring a suitable guarantor but there are a lot of reasons why choosing them will prove beneficial to you in the long run Cash advance loans will charge you as high as 35 to 50 while personal loans will charge you a maximum of 12 to 30 depending on your eligibility and other criteria Also while opting for a cash advance you

    Original URL path: http://www.signaturepersonalloan.com/choose-a-personal-loan-over-a-cash-advance-for-better-loan-rates/ (2016-04-25)
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  • Why Peer to Peer Lending is better than Cash Advance Lending | Signature Personal Loan
    existing financial position You do not have to be embarrassed about your request because the system is based on the premise of helping people financially no matter what the obligation as as long as it is ethical When you give your request the peer to peer lending sites match the borrower s demand with the rightful investors Since there are many investors who may be willing to oblige the borrower can leverage the situation and go for the offer with the low interest rate as repayment Both parties benefit from this arrangement the borrower gets the money according to his or her need and the individual lender can receive his money back along with better terms of interest better than what s he would get in a financial institution with a modest rate of growth The peer to peer lending website also makes money by collecting a small amount as commission for the service offer Along with peer to peer lending there is a system of payday loans or cash advances which are also quite popular for short term lending However when you compare both these modes of lending it is seen that the people are more in support of peer to peer lending for the following reasons 1 Low interest rates Both cash advances and peer to peer lending are unsecured loans but in the case of peer to peer lending the interest rates are even lower A cash advance or a payday loan is a high risk loan with interest rates that can go in triple digits But in case of peer to peer lending the interest rate can be anywhere between 7 and 2 percent 2 Longer term period While cash advances or payday loans have short term repayment period wherein you may have to give back

    Original URL path: http://www.signaturepersonalloan.com/why-peer-to-peer-lending-is-better-than-cash-advance-lending/ (2016-04-25)
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  • Payday Advance Loans, Personal Loans and You | Signature Personal Loan
    they may not have enough money to cover it Taking out a personal loan or an advance payday loan can be the best solution Choosing to borrow from the bank you are banking with is a great idea Since you are their client you can expect a higher amount of loan from them In taking out any type of loan always consider your ability to pay Think of your income and expenses first The global economy is shaky at best The stock market has suffered losses and the salaries people have are not often enough Do not attempt to take out a loan you cannot pay at all It may sink you deeper into the debt pit Payday Advance Loans From its name payday advance loan is an advance against your coming paycheck You will not be asked to submit many requirements usually just your checkbook and proof of identifications These are loans of relatively small amounts usually like 500 and 1 000 You will be asked to issue a check for the loan amount and plus the lender fee Make sure you read the terms of agreement thoroughly and ask for clarifications if you have any These loans can easily be acquired by working individuals because their paycheck serves as guarantee for the loan Personal Loans Generally a personal loan is between two individuals But personal loans can be taken from your bank These are generally unsecured and can be used for whatever purpose you wish Like payday advance loans they are also in small amounts But personal loans can also be secured If you wish for a bigger loan you can use your house as a collateral or security Secured loans have generally lower interest rates than unsecured loans The terms for secured loans are fixed whereas you

    Original URL path: http://www.signaturepersonalloan.com/payday-advance-loans-personal-loans-and-you/ (2016-04-25)
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