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5 Common Mistakes to Avoid when Getting a Personal Loan

 Don't waste your money on penalties and fees!

Don’t waste your money on penalties and fees!

 Between mortgages, car loans and department store cards, nearly every American has borrowed money at one time. The federal U.S. government is indebted to private lenders and other countries to the tune of 15 million dollars. States owe each other and their citizens in the form of bonds. If you need a personal loan to help you with education, an emergency, medical expenses and more, you have lots of company.

Since the loan will be amortized or spread out over years, every point of interest saved helps. When considering a personal loan, make sure you don’t make the following common mistakes:

  1. Applying only at your bank or your neighborhood banks.  Both credit unions and online banks offer lower rates and better terms because they spend far less on marketing, human labor and overhead. Many of their processes are automated. All those saved costs allow them to offer lower personal loan interest rates.
  2. Not knowing eligibility terms and incurring dings to credit. Every loan officer must check an applicant’s credit during the approval process. If you apply for loans that require excellent credit score when you only have a fair credit score, you won’t get the loan and your credit score will be impacted.  Some people apply for so many loans that they ruin their chances of applying for anything!
  3. Agreeing to the first loan terms offered. Most loan officers have some wiggle room on interest rates and terms. It’s important to at least attempt to get the numbers more in your favor to increase the chances that you’ll be able to repay on time.
  4.  Borrowing Money You Can’t Pay Back.  Asking for more than what you really need can get you into trouble. The interest on the extra builds up, raising payments and interest in a selfperpetuating cycle.
  5. Rushing through the fine print in the contract.  To avoid late payment penalties that could swell the principle, make sure you know the loan’s terms:
  • Amount of interest
  • Maximum debt
  • Penalties for skipping payments
  • Penalties for late payments
  • Length of loan

Get a Personal Loan Safely Online with A+ Rated First Financial

An online bank, First Financial provides a quick application that you fill out in the comfort of your home. Once you’ve been approved, the cash usually appears in your account that evening. To get daily financial tips remember to like our Facebook page.


93% Approved Bad Credit Auto Loans: 2-Minute Smart-Phone Application

happy woman pointing to mobile phone

Explore your bad credit auto loan options and apply SAFELY while waiting for meetings, watching television or in the doctor’s office!

We’re excited here at First Financial to offer you top-of-the-line mobile bad credit auto loans you can apply for completely through your iPhone or android device. Our “bank-level” 128-bit encryption is just as safe if not safer than going into your local branch, filling out forms and handing them to a teller. In fact, it’s highest level of security currently allowed by U.S. law.

Don’t let one or two banks ruin your excitement about trading in or buying a car.  It’s more than likely that they WILL turn you down. . .  along with over 50% of your American neighbors who also  have “subprime” credit.[i] Most banks are not specialists in bad credit auto loans. We’ve closed 1 million bad credit auto loans in the past 15 years!  

 A Bad Credit Auto Loan’s Limited Limitations

You may be surprised to learn that you need to verify just $1500 in monthly income, that you are a U.S. or Canadian resident and have had no repossessions in the past 12 months.  Those with bankruptcies that have been discharged or are in possession of Authorization to Incur Debt from the bankruptcy trustee still qualify.

Find Out How Much You’re Approved for Fast with First Financial

Our mobile bad credit auto loans mobile application gives you all the information you need in easy-to-read, smart phone format. You can:

  • estimate your loan approval amount
  • read car loan F.A.Q. so you can make the right choices
  • scan testimonials from happy customers
  • APPLY for the auto loan!

Our fast and simple online auto loan application and mobile auto loan application can get you driving within days. Want to keep an eye on lots of low cost online auto, mortgage, personal loans as well as the loan industry? Please “like” us on Facebook!




[i] http://www.bankrate.com/finance/auto/bad-credit-car-loans-easier-to-find.aspx

Getting Fair, Poor & Bad Auto Loans in 2014 Just Got Easier . . .

car dealership lot

Recently, credit tracking giant Experian broadcast some great news for those needing fair, poor and bad credit auto loans. Its Automotive Credit Trends Report[1] reveals that during the second-quarter of 2014 U.S. banks:

  • Approved 44% more bad credit auto loans than they did in the same period in 2013
  • Approved 22.4% more good, fair and poor credit auto loans than in in 2013

Banks are now more willing to lend to those whose credit scores dropped below “prime” or excellent . . . 700 or higher at this writing.

Before you start feeling thankful to the banks, however, keep in mind that this move is in their best interest as over 50% of all American consumers today fall into the “subprime” categories . . . namely good, fair, poor, and bad. To stay in business, the banks need to be more open-minded and “open the purse strings” more frequently. More, with unemployment still at historic highs, loan and car sales have been increasing but not at the rate a more robust recovery would create. Auto dealers and loan officers need customers! They need YOU, even if you have poor or bad credit.

 Tips for Getting Fair, Poor or Bad Credit Auto Loans

  • put at least 20% down, more if you can
  • consider a used car, even a one-year-old car. (Cars depreciate at least 20% in the first year alone. After that, depreciation slows.)
  • search the financial institutions that offer auto loans online. Internet banks have far lower marketing and overhead costs, and pass the savings on to the consumer. Their automated processes also help them keep fair, poor or bad credit auto loans interest rates affordable.

First Financial Has Fair, Poor and Bad Auto Loans that Make You Mobile!

While of course those in the prime or “excellent” credit category get the lowest auto loan rates, paying 7% to 10% or more for an auto loan still keeps reliable, attractive cars affordable. Ask a parent or grandparent what they paid for an auto loan at various times. Interest rates peaked in 1981 at 16% and only dropped under 10% as recently as 1997.[2] Our fast and simple online auto loan application and mobile auto loan application can get you driving within days. Want to keep an eye on lots of low cost online auto, mortgage, personal loans as well as the loan industry? Please “like” us on Facebook!


How to apply fo an auto loan online.

It is safe and secured and will require just some basic information that is necessary to make sure that you get a damaged credit loan. The application takes just about a minute and can be found right here.  After that it will take just a day or two before you will be contacted to know if you have or have not been approved for the car loan.  It is a great way to get an automobile loan and to also improve your credit score for later. Applying elsewhere is just going to increase your chance of failure which will only end up hurting your credit even more. Not everyone will be approved for a loan so there is no guarantee that you will receive financing, but we help to make sure that if it is possible for you that it is going to happen for you. It is simple and what have you got to lose?

Which Auto Finance Companies Offer The Best Car Loans?

There are many different auto finance companies you can choose to apply for a car loan with. Getting approved for a car loan is a “must” for most car buyers today, as many car buyers do not have the financial means necessary to pay cash to buy a new or used car. Even those that do have the financial means to pay cash often don’t want to hand over such a large amount of cash and would prefer to finance their purchase. Before you apply for a car loan online, however, you do want to make sure that you find the best loan possible.

Ways to Improve Your Credit Score.

This is the best way to improve your score, and it’s never too late to start. Even if you’ve had serious delinquencies in the past, those will count less over time if you keep paying your bills on time.

Keep credit card balances low.

High outstanding debt can pull down your score. Don’t go maxing out your credit cards all the time.

Check your Credit Report for accuracy.

It’s possible that there may be inaccurate information on your credit report that can be easily cleared up (see How To Fix Credit Report Inaccuracies). If this proves to be the case, then you should contact one of the three credit reporting agencies—TransUnion, Experian or Equifax.

Pay off debt rather than moving it around.

Consolidating your credit card debt onto one card or spreading it over multiple cards will not improve your score in the long run. The most effective way to improve your score is by simply paying down the amount you owe.

Many people who have poor credit often find themselves in a difficult financial situation.

Most of the time this happens because of the reasons that are beyond control of the Borrower like getting laid off, divorce, or health problems.

If you have a history of poor credit or think that you might, it’s important that you find out and take the steps to improve it. It will take time, but with discipline, you may expect to see improvement in as little as six months. You see, creditors are interested in a track record. You’ll have to prove that you consistently pay your creditors on time and that you can effectively pay down your Debt.

Learn more about our: Poor Credit & Bad Credit Card Offers

Poor credit is the first obstacle to overcome on the path to attaining wealth.  Poor credit is not a problem because we are repaid directly by the estate or trust and you keep the rest.  Poor credit is not always an indication of your responsibility and most lenders will look at this fact.  Poor credit is not an obstacle to use.  Poor credit is something that can happen to just about anyone, and it’s not always due to circumstances we could have controlled.  Poor credit is no more a hindrance to get auto loans in Canada.  Poor credit is like a crush when you go out in loan market for loans.

Fix Bad Credit Habits and Keep Your Score Up

Bad credit usually comes from bad habits. You may have gotten into a rut with credit card spending, or you may be hopeless at remembering to pay bills on time. Maybe you are bad at managing your check registry so you’re always bouncing checks? All of these are simple bad habits that are easy to fall into and all can have serious long term ramifications forcing you into bad credit loans and credit repair. When you are overhauling your money management, don’t forget to work on your bad habits. If you need to keep credit cards out of your wallet to avoid using them, than do that. If you need to set up automated payments, then take that step. Work on the problem, not just on the symptoms.

Bad Credit Repair Services

Do you keep seeing ads for bad credit repair services? If you see services that say they can fix your credit immediately, they are not telling the truth. A reputable bad credit repair service will help you realign your debt and get into better money management habits, but credit repair does take time, no matter your situation. If you’re patient and consistent, you can repair your credit score significantly over a couple of years, especially if you take out a bad credit mortgage or loan. Making timely payments to your mortgage company is the surest way to improve your credit. If you have to take a hit on the interest rate for a year or two, it will be worth it in the end. Forego dinners out so you can ultimately buy the house of your dreams with a low interest mortgage you get with your improved credit rating!

Getting a Bad Credit Loan to Repair Your Credit

You can use a bad credit loan to improve your credit. It may seem odd that you can only improve your credit by taking on new creditors, but it’s true. If you take out a bad credit loan and you are diligent in making your payments, you’ll soon see your credit score rise and your financial prospects begin to improve. The key is to be consistent in making your payments on time and eventually you’ll get out of your bad credit hole. Bad credit loans, although sometimes expensive, are really worth it in the long run if you use them as a tool to move your financial prospects forward.

Removing Errors from Bad Credit Reports

Errors on your credit report? It’s not the end of the world – you can get these removed and be done with them with a little perseverance and time.

1. Identify the errors – and do so precisely. Identify the loan, the creditor, the amount, any relevant dates etc.

2. Contact the credit bureaus to report the errors – you can usually do this through an online interface.

3. Be available to back up any corrections with documentation. The rest is up to the credit bureaus.

Things to Look Out For in Bad Credit Loans

If you’re considering taking out a bad credit loan, look out for some of the following pitfalls.

1. Late Payment Increases – Rather than foreclosing on your loan when you are habitually late or missing payments, some lenders now increase your interest rate as a late payment penalty. Of course, you should be making your payments on time anyway, but look out for these late payment increases as they can cost you a lot of money.

2. Prepayment Penalties – Many bad credit loans want to make sure you keep the loan for a minimum period of time. They will institute a prepayment penalty, or fine, if you pay the loan off sooner than they want you to. In some cases, these prepayment penalties are only for a matter of months or 1 or 2 years. Be wary of these penalties and make sure you know when yours is up if you must have one to secure your bad credit loan.

3. Balloon Payments – A balloon payment is when you have low payments up front, only to have a huge payment at the end of your loan term. If you are prepared for this, this kind of program can work very effectively, but if you are ill prepared you can get yourself into serious trouble, so be aware and plan accordingly.


Refinancing a Bad Credit Loan

If you had to take out a bad credit loan at one point and you’ve put some distance between yourself and your credit problems, you should refinance that loan as soon as possible. First, approach your original lender. If they helped you when no one else would, give them a chance to help your refinance the loan into a better program. If your current lender can’t help you, hop online and you’ll find a ton of low interest loan options that can meet your needs. Finally, continue your new good spending habits and continue to diligently monitor your credit report.

Avoiding Bad Credit Loan Scenarios

One of the best ways to avoid debt and ultimately bad debt loans is to monitor your credit score closely. Always get your free credit report online every year and try to monitor your credit score as well. By checking your credit report, you’ll see all of your debt in one place and you can ensure that all of the information on the report is correct. Choose any one of the credit reporting services and watch your credit report closely. Next, avoid making late payments any way you can. If you need to automate your bills, then do it. If you need to hire an accountant to come in once a month, then do it. You’ll save more money than you put into either investment. Finally, read up on money management. Head to your local library and look at best sellers or look up books on the internet so you can see which ones get high user ratings and cover the topics you need. Educate yourself and you’ll be able to avoid bad debt.

Finding Bad Credit Loans without Bad Credit Rates

If you have bad credit, it’s not the end of the world and you certainly aren’t alone. One of the easiest ways out of bad credit is getting a bad credit loan. You could consolidate debts and other payments and if you never miss a payment, or make one late, you will gradually begin to improve your credit score. You may think that if you get a bad credit loan, it will automatically have a bad interest rate, but this isn’t always the case. There are bad credit loans with interest rates that actually improve as you make payments on time. There are also bad credit loans with interest rates that are lower than the interest rates on all of your current debt – so even if the rates seem high, you’ll still be saving money.

3 Steps to Fix Bad Credit: How do you go about fixing your bad credit?

1. Get your credit report and assess the situation. Make small and large changes in your lifestyle to start improving your credit TODAY. No more shopping sprees or trips to the casino until you have your financial situation under control.

2. Research – Find out if the problems on your credit report are accurate, and if they are, find out which habits will improve your credit score the most in the shortest amount of time.

3. Petition – If there is an error on your credit report, you can petition to have it fixed and removed. This may take time and diligence, but it is possible – and well worth the time and effort.

Credit Card Offers

See our wide array of credit card offers.  Join our discussion and ask your own questions about the most popular credit card offers, bad credit repair services, credit rebuilding tactics, and anything else credit related.  We have assembled here on this first page three of the most popular places online to find easy-to-get credit card offers.  We provide our visitors with vital information about credit card offers in Australia, current special offers and related financial reference material along with secure applications to apply for cards online.  The credit card offer table below is designed specifically to help you find not only the credit card that fits your life but also identify which credit card offers have the extra rewards, low interest rate or cash-back offers you may regard as important.  Find the credit card offers you desire and discern which card works the best for your distinct needs.

First Financial

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