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5 Best Budgeting Apps for People Living Paycheck to Paycheck

Man walking using a budgeting app

These apps take a little set-up, but after that, enjoy taking the brainwork out of every spending decision. Whether you’re just trying to cut down on needless spending or saving up for a big purchase, these apps help you reach your goal quicker.

Every Dollar

Available on Android, iOS and on desktop, Every Dollar has a very simple user interface that makes budgeting simple. User can expect to take less than ten minutes setting their first budget. The service ditches spreadsheets and offers many helpful visuals so you can see where your money is going. Tracking your spending and managing your money is super convenient with the app, and it syncs across devices so whenever you open it, you’re looking at the most up to date information. Every Dollar lets you budget confidently – the app is based on a proven plan that has helped millions of people get out of debt.

Mint

Available on both iOS and Android, Mint is one of the most popular money managing apps. Users can easily view all of their bank accounts in the app and categorize all of their expenses by category, such as utilities or food. Unique to Mint is that it lets you set spending limits for each category, and will send you an alert when you are approaching the limit. Users can also get a free credit score within the app. Lastly, users should feel safe using Mint, as it was developed by Intuit and backed by their security system.

Digit

Digit it perhaps the most unique app on this list. It does the basics like connecting to your bank account and view your transaction history just like the others. What sets it apart is that it analyzes your income and spending habits over time, and by using a unique algorithm it sets aside small amounts of money into a separate “Digit savings” account that it thinks you would have spent wastefully. Many users claim it has helped them save a lot of money, but if you don’t like it you can easily transfer the money back to your checking account for no fee. Lastly, the service has a “no overdraft guarantee” and promises to not take more money than you can afford out of your account.

Level Money

Level money is a great app for people who know the importance of saving and want to do it, while also spending their hard money however they choose. Level money lets you set a savings goal for a time period and helps you plan for future expenses, like bills. The app then informs you of any money you have left over – called spendable money – and illustrates this nicely with a helpful graph. The app also has a daily spending guide to help you stay focused on your financial goals, and will alert you if you’re spending more than usual.

Spendbook

This one is only for iOS users, and will cost $1.99. Spendbook has built in expense tracking and lets you set budgets. The app is very user friendly, adding a new income stream or expense transaction can be done with just a swipe down. The app lets you take photos of receipts and items you have purchased and then categorize them. Lastly, the app gives users a daily and monthly summary of their expenses, as well as charts and infographics to help users spot trends in their spending habits and look for ways to improve.

 

5 Ways to Be Debt Free by Christmas

Family Celebrating being Debt Free

 

Most people have some debt, but if your situation has gotten out of hand, now is the time to figure out how you can pay it off before it gets even worse. By figuring out how much you owe, picking a strategy to pay it off, and making a couple sacrifices along the way, you could be debt free by Christmas.

Here’s how to get started:

Know how much money you owe

The first step to paying off the debt you owe is to figure out exactly how much debt you’re in. You may have avoided doing this because you’re scared of the number, but it essential as it will help you keep perspective and figure out a plan to pay it off. Gather all debts you owe, from credit cards to student loans to medical expenses, and calculate how much it all adds up to.

Develop a strategy

The next step is to develop a strategy to pay off the debt. This is important. Picking and being able to stick to a strategy will help you pay down the debt faster, while also knowing that the sacrifices you’re making to do so have a set end date, giving you some peace of mind. There are two main strategies to pay off debt: Debt avalanche and debt snowball. The first one is the fastest, and has you pay off the debts with the highest interest rates first. This can save you a lot of money over the long term, but you won’t feel much progress is being made at first.

If you feel as if you need to see yourself making progress to stick to a strategy, debt snowball is likely for you. This strategy takes the opposite approach. Arrange your debts from smallest to biggest (ignore the interest rate) and begin paying off the smallest ones first. This will help you see that you are making progress, but will likely cost you money over the long term due to interest.

 Commit a set amount of money to the debt

 Another excellent way to help you pay down your debt steadily is to set aside a set amount of money every month and put it towards the debt. Start out by calculating how much you need to spend per month on necessities (include building up an emergency fund) and then subtract that from your total monthly income to get an idea about how much you can put towards the debt every month. The higher the debt, the more of that money you will want to dedicate towards it.

Get a side job

Even with these strategies, paying off these debts is no easy task. It takes persistence and sacrifice for possibly years. One way to help you but a bigger dent in the amount you owe is to get a side job. Even if it’s just on the weekends doing something simple, you could easily find yourself with a couple extra hundred dollars at the end of every month to put towards the debt. It may not sound like a lot, but it could save you hundreds if not thousands over the long run, and you’ll have that debt paid down much quicker.

Happy debt-free people

Renting a room

When calculating your total monthly expenses, chances are the rent towards your apartment is what is eating up most of your budget. You could downsize to a smaller apartment, but this would involve lots of paperwork and being stuck there for a few years. An alternative solution is to rent out a room in someone’s house or apartment. There is little to no hassle, and with the money saved, you could put even more towards the debt or perhaps avoid getting that side job. Either way, if you owe a lot of money, this is certainly an option to look into.

 

7 Tough Financial Situations a Small Personal Loan Can Solve

woman sad at need for personal loan

The small personal loan has gotten many out of difficult situations.

Did you know the personal loan has interest rates 5 to 10 points lower than a credit card? Read these situations where a small personal loan makes more sense than additional credit card debt.

Finance a Funeral with a Small Personal Loan

 Unfortunately, death is a fact of life and often strikes at the most unexpected times. Not only is it hard to go through the emotional trauma of losing someone close to you, but making the funeral arrangements in just a few short days, while also figuring out how you’re going to pay for them is extremely rough. Funerals aren’t cheap, even with relatively affordable caskets the cost can still easily run up to the thousands. If the deceased person’s assets cannot cover the expense of the funeral service, taking out a small loan with a low interest rate is one of the best routes you can take to cover the cost and work your way towards paying it off. 

A Small Personal Loan Consolidates your Debt

Most people who receive a small personal loan get one to consolidate their debt. Consolidating your debt allows you to combine multiple types of debt, such as car loans or debt accumulated from credit cards, into one total loan with a fixed interest rate, consistent monthly payment, and a closed-end term. Doing this can have multiple advantages. It can lower the interest rate on the debt, and you may also qualify to have a lower monthly payment that is paid off over a longer period. Either way, consumers with multiple outstanding debts should definitely explore consolidation.

hand of man calculating costs of small personal loan

Escape Credit Card Debt

Another effective use of a small personal loan is to use it to pay off credit card debt. Of course, this may sound counterproductive, taking out a loan and possibly going into debt again just to pay off existing debt. However, many loans are available at a low rate, which limits the amount of interest you will have to pay, along with along with an end date to help you plan out your financial future. According to Ryan Bailey, who is in charge of consumer deposits, payments, and non-real estate lending at a TD Bank branch, who says that “With an unsecured loan, you pay it off in 5 years, generally at a much lower interest rate, so it saves payment, and you actually get it paid off.”

Paying off HealthCare Bills

 Life is unpredictable and sometimes you or a loved one may end up in the Hospital. Even with health insurance, costs can often be extremely high, especially for long stays. That is why so many people take out personal loans to cover unexpected health care costs. Don’t wait to do this – credit reporting agencies may be notified of missed payments and this will damage your credit score. A personal loan can allow you to pay off your medical expenses while keeping your credit score intact.

 Make a Big, Critical Purchase

Did your old car suddenly break down and you need to buy a new one but don’t have enough money saved? Or can you afford one, but don’t qualify for a secured loan because of your credit history? A personal loan could very well be the answer. People who qualify for personal loans are more than free to put them towards a big purchase, such as buying a car, motorcycle, a small house or a boat.

Pay for a Wedding with a Small Personal Loan

Your wedding day will be one of the most unforgettable moments of your life, and it is totally reasonable that you may want to spare no expense. You already know the cost is going to add up quickly. Between the reception, the dress and tuxedo, to hosting possibly over a hundred guests, weddings are very expensive. This does not even include the cost of the rings as well as a possible honeymoon afterwards. Many couples look to personal loans to help them finance their big day. They can be used towards the expenses previously mentioned, and can ensure your wedding day will be one of the highlights of your life.

Finance Unplanned Expenses with a First Financial Personal Loan

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As you’ve gathered from reading this article, personal loans have many practical uses and cover a wide variety of expenses. First Financial knows how unpredictable life can be and how hard it is to keep a large sum of money sitting idle just waiting for something to happen. That’s why our loans cover more than just mentioned above. A small personal loan can also help you finance veterinary care for your pet. Or say a loved one in a different country has suddenly fallen very ill and you have to find a way to be there with them. Whatever it is, rest assured that our loans are consumer friendly with low interest rates and set end dates. In a perfect world, money shouldn’t decide if your pet can get a surgery to extend its life or if you can visit a sick relative, and with a loan from First Financial, it doesn’t have to.

Escape Credit Card Debt: Debt Settlement or a Personal Loan?

Cutting credit card to get personal loan

Many consumers have received phone calls explaining that they can settle their credit card debt for a fraction of its total. While this is possible, taking the debt settlement route can have negative consequences on your long-term financial health.

Debt settlement works this way:  a company acts as an intermediary, making calls to your credit card company or another creditor for you.

The personal loan, on the other hand, is simply a lump sum of money you win from a bank or alternative lender after filling out an application form and submitting some financial documentation.

But to further guide you in deciding which path to take, here are the risks and rewards of debt settlement versus the personal loan.

Risks of Debt Settlement

Debt settlement comes with the following potential risks.

  1. Credit Damage.

A debt settlement company negotiates with your creditor to demand less money that what you actually owe. Your creditor, in turn reports this event to the credit bureau, explaining in detail that your debt was settled for less than how much was owed. Credit bureaus degrade your credit score.  Further, seeing this history future car, home and bank lenders will be reluctant to do business with you.

  1. Implications on taxes.

The money you escaped paying isn’t the free pass debt settlement companies imply. The IRS will demand a slice of this “discount” in your taxes. You will pay taxes on it as if it is income. Your debt settlement company sends information to the IRS and to you. In fact, if you do choose to use a debt settlement company, make sure to ask up from what the tax implications are.

 

Rewards of Debt Settlement

Debt settlement does help consumers reduce their debt. Also, when you try of applying for a loan when you still have not fixed your debt yet, you are certainly going to have a hard time. As a matter of fact, lenders are highly unlikely to be willing to work with you if this is the case. But when you do eliminate your debt, you will be attracting more lenders to work with you and even open up a lot of other opportunities for your own success.

  1. Save more money.

Giving your lender a lesser amount of the amount owed leaves more money for you to use to buy a car, home or other asset. Make sure you maximize the amount forgiven you will only be successful in this when you have already mastered the labyrinth of debt settlement.

  1. Put an end to the collection.

Aggressive creditors can make your life a nightmare. Even more frightening, when you do not respond, they file a lawsuit which could be served in public and end up garnishing your wages. Debt settlement puts this interference to a stop.

 

Risks of Personal Loan

  1. High interest rates.

Many are surprised that personal loan rates are typically sometimes twice as high or higher than home and auto loan rates. The better your credit score, the lower rate you will get. Still, those with personal loans pay a lot of end their creditors calls.

  1. Penalties for early payoff.

Some lenders charge high penalties if you pay the loan off early. Make sure to read the terms and regulations of the contract or ask your loan officer. First Financial personal loans never have penalties for early pay off.

  1. Complications that are unnecessary.

A personal loan should be simple:  you apply for a personal loan, the company pays for your debt, and in turn, you will be going to pay the company. View additional fees or meeting with bankers with suspicion.

Rewards of Personal Loan

  1. Improved credit score

The thing about having a personal loan is that it can pay off your credit card debt in no time. The credit bureaus also see this move as a commitment to pay the debt rather than escape it by going into debt settlement. This move reveals your habits of paying your debts and impresses lenders.

  1. No risked property.

A personal loan does not require property for collateral. Therefore, if you do default on it, you aren’t at risk for foreclosure or repossession.

A+ Rated First Financial Personal Loans for Borrowers of All Types, Even Bad Credit

When considering personal loans, don’t forget that online lenders have the automation and reduced overhead to offer the best loans and terms. First Financial is the national leader in providing personal loans for borrowers of all types, even bad credit borrowers. Just fill out our simple application form, and get the money in your account in a matter of days. The Better Business Bureau rates First Financial A+ because we make customer service our highest priority.

 

Is Now the Right Time for a Personal Loan?

Making a decision about the economy

Is your job stable enough to justify a personal loan? 

Until 2012, many viewed having a personal loan as risky. Having to pay for money you didn’t have would drive a consumer further into debt, jeopardizing their financial situation.

Today, the economic outlook has changed. Economists predict that 2017 will see a slight rebound.

First: wages are actually growing. According to the Atlanta Federal REserve Board, wages have enjoyed their fastest in crease in the past year. With unemployment at a low 4.6% today, most economists explain that the U.S. is at “full employment.” As workers get harder to come by, wages will rise.

The rise in consumer spending of 3.8% in just the last six months, too, boosts the U.S. Gross Domestic Product which helps the overall economy. This may have been a result of the rise of the employee’s wages over this time also. This is highly comparative to the 3.6 percent of gain for the take-home pay, thus a noticeable drop in the savings rate. The perceptions of the individual also about sending is better than the average and this has come to be stable for the previous months of observation. It is highly likely that they would have their expenditures increasing as directly proportional to the wages that they get to receive in their respective jobs.

Another factor that can be viewed as an advantage is the construction of more houses. The more of them that are built, the lower the prices could go. Houses with lower prices than the usual average price can be a driving force for the individuals to avail, thus setting the economy to be rocketing. The apartments have the most gain for this, though. This is because multifamily starts have an increase of 14 percent over the previous year while the single family has an increase of a mere 1.3 percent.

However, if you do not feel that there is an increase in your wage over the previous months, then you should ask for a raise. The U.S. Census Bureau has already increased the median incomes during the previous year after it has its years of falling or just being stagnant. You can just as your employer to give you a raise. If not, then it are better for you to look for another company that could serve you well as you have served them.

What could this say about the economy of the country? It can be that the business all over the place is booming in such a way that it creates a great many opportunities for the employees to get their own savings and even encourage personal loans.

Unlike a housing loan or a car loan for that matter, a personal loan can be used for the tuition fees of your children, or for the expenses of your travels when you feel like paying another place a visit just for mere relaxation, or anything else that you may want in your life. Further, if you want your personal loan to be secured as you should, you will be required to have a collateral such that it could back your personal loan. Some common cases for this are having a house or a car to comply the said requirement. You can also have your personal loan unsecured, and in this case, you would not need a collateral for your loan.

week1_monday

Does a Better Economy Translate into Favorable Personal Loan Rates?

We certainly think so!

As economic conditions continue to improve, Janet Yellen at the Federal Reserve Bank will increase interest rates. That means rates on all loans will increase, although not too fast and not by too much.

Those considering a personal loan should do it right now while it is still early. Most Americans have been putting off home improvements and car upgrades because of concern over the economy. The above information should give you the confidence that we are in a stable period.

 

 

Trust A+ Rated First Financial to Get You a Personal Loan Fast and at the Best Rates!

When considering personal loans, don’t forget that online lenders have the automation and reduced overhead to offer the best loans and terms. First Financial is the national leader in providing personal loans for borrowers of all types, even bad credit borrowers. Just fill out some forms, upload documents and get the money in your account in a matter of days. The Better Business Bureau rate First Financial A+ because we make customer service our highest priority.

 

 

 

5 Signs It’s Time for a Personal Loan

cash from personal loan

 While the prospect of a personal loan can be intimidating, trepidation didn’t stop Donald Trump, the founders of Starbucks or flamboyant Virgin Airlines owner Richard Branson when they needed funds. A short-term loan goes a long way in providing a better quality of life and setting up a flush future.

In our blog post, “When the Personal Loan Works Better than the Credit Card,” we explain that the personal loan can:

• raise a credit score
• save a borrower half in monthly interest charges when compared to credit card rates
• help borrowers plan (because the monthly payment is fixed.)

The personal loan can actually brighten your financial picture. Considered an installment loan rather than revolving credit, when you use it to consolidate credit card debt, banks see it as your dedication to paying it off rather than defaulting or going into bankruptcy in order to escape it. Experian and TransUnion often raise your credit score within a month or so. See? The personal loan isn’t so bad!

While you will be in debt with a personal loan, the regular payments (often sent automatically from your account through bill pay), help you budget better for the month. Knowing a set amount will come out of your bank account keeps your urge to splurge under control.

Now that you know the personal loan is a common way people pay for purchases and/or emergency expenses, read the following most common scenarios where people use personal loans.

1. You are paying credit card debt at the average rate of 15% or more (23%? 29%) when you can most likely get an unsecured personal loan for 7 to 10%.
2. Collections agencies are calling you about medical bills. NerdWallet Health’s survey found that 56 million Americans have trouble paying their medical bills. More frightening, 35 million American adults get collections agencies calls for them bills and they cause 17 million Americans to receive a lower credit rating.
3. Moving expenses become overwhelming. U.S. News found the average cost of a move within a state is $1,170, and between states, $5,630. These expenses are most often necessary for family members to earn a living. When a company doesn’t foot the bill, they land on individuals. Putting these expenses on credit cards just sets you up for high interest expenses. The personal loan only calculates interest on the principal amount, not the principal plus the interest the way credit cares do.
4. Your car or computer isn’t running. Unless you live in a city like New York or San Francisco that has reliable public transportation, you’re going to need a car. Even GoCars and ZipCars prices add up, particularly if used regularly. Most important, however, a car adds to your quality of life.
5. Your home equity isn’t sufficient for critical home repair expenses. Failing to qualify for a second mortgage doesn’t mean you have to go without a working water heater, air conditioner or mold remediation. All of these things are critical for your family’s health and well-being. Home prices have remained steady for several years now and chances are your home value will go up if you stay in it long enough.

It’s in these five circumstances that most Americans seek out personal loans.

A+ Rated First Financial’s Personal Loans: Manage from Home and On-the-Go!

First Financial has the most competitive rates for high-credit-score borrowers. We even welcome those with fair, poor and bad credit because they make up 56% of the current American population. Use your laptop or tablet to make payments, review statements, and update account information. You can even check your rate without impacting your credit score!

Apply now for a personal loan with First Financial, A+ rated by the Better Business Bureau!

How to Locate Unclaimed Money that is Rightfully Yours

bigstock-Young-Black--African-America-43783762

 If you’ve lived in various apartments in multiple cities, or switched banks or employers at one time or another, you may actually have some unclaimed funds that you didn’t know about. If these funds were indeed meant for you, it is possible to reclaim that money. What is difficult, though, is locating the exact source of those funds.

Luckily, we’ve done the dirty work for you. These seven helpful websites will help you in your search for re-tracking your own money. So go ahead and become a modern day treasure hunter with a little web surfing.

1.http://www.unclaimed.org/
This is the best website to begin your search for unclaimed funds. The nonprofit group, titled the National Association of Unclaimed Property Administrators, put this site together so can locate money held by your state, from such sources as uncashed checks, old security deposits, and forgotten safety deposit boxes.

2.http://www.treasuryhunt.gov/
Just as its name implies, this website is truly a treasure hunt paradise. This site is where you can discover bonds you’ve forgotten about that are still rightfully yours. You do need to put either your social security number in, or the social security number of the person who gifted the savings bond to you. Once you locate a bond that was truly intended for you, you simply start the claims procedure on this website, and a federal representative will contact you to complete the process.

3.https://www.irs.gov/Refunds
Yes, the IRS actually has a website especially for those of us who never did receive their federal tax refund checks in the mail. This “Where’s my Refund?” website option is something you definitely need to take advantage of if you haven’t received money owed to You just need to enter in your social security number, and the amount you were supposed to receive.

4. https://www5.fdic.gov/funds/index.asp
Banks are insured by the FDIC (The Federal Deposit Insurance Corporation), so if a bank happens to fail, the FDIC is supposed to provide the funds back to the bank’s depositors (up to $250,000) dollars. If you had your money in an account for a bank that is no longer operating, check out this website and see if the FDIC is keeping it safe for you.

5.http://www.ncua.gov/services/Pages/asset-management/unclaimed-deposits.aspx to When credit union funds go out of business, what happens to the money you deposited into it? It goes to a federal agency called the National Credit Union Administration (NCUA). Thankfully, this website will allow you to locate those funds from the credit union that failed.

6.https://www.unclaimedretirementbenefits.com/
If you, like most of us, have changed employers, it’s very possible you failed to roll over your retirement plan (401K) or place it into another retirement plan (e.g, an IRA). This website will allow you to search for that money that you worked so hard for and deserve to have. Claim the money from your former employers that is rightfully yours.

7.http://www.pbgc.gov/wr/trusteed/plans.html
This site is geared to those have not received a pension that was due to them, usually because the company responsible for sending it has gone out of business. If you haven’t received your pension and you have had no luck contacting your former employer, try this site, which is run by a federal agency, called the Pension Benefit Guaranty Corporation (PBGC), geared to protection private pensions.

bigstock-Tresaure-Chest-9135563

First Financial gets you cash fast
Hopefully these helpful websites can help you track down those funds deserved to you. We are the leading source of short-term personal loans and cash advances for those with low or bad credit scores, and we will even arrange easy online transfers. Just apply for the cash advance from the comfort of your own home. Start the process now, and you can have cash the very same day.

When the Personal Loan Works Better than the Credit Card

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Most of us have emergency or other expenses that require quick funds. While many resort to credit cards for these expenses, a better option may exist: the personal loan.

The personal loan is a contract created between a bank, credit union or other lending entity and an individual. It states an amount to be lent to the individual and terms like interest rate and duration of the loan. Because establishing a personal loan requires discussion with a bank or credit union representative, however, many feel intimidated to embark on this kind of funding. This said, the personal loan may be the more financially savvy option in several situations.

Apply Now

First we want to cover the biggest advantages of using personal loans over credit cards. These include:

1. the personal loan can be “unsecured,” requiring neither collateral (like a credit card) nor a credit card inquiry that can lower credit scores; this said, some personal loans DO require collateral and perform a credit inquiry. Get these items straightened out with a loan agent BEFORE signing the contract;
2. personal loan interest rates are typically lower than credit card rates and negotiation with the loan officer for even lower rates is possible;
3. unlike rates for credit cards, the interest rate stays fixed for the entire repayment period;
4. monthly payments stay even. Credit card payments change as charges accrue.

With the advantages clear, you can determine whether the money you need should be gained through a credit card or personal loan. The following includes the situations that we think make the most sense for a personal loan.

1. Unexpected Income Shortfall
People make errors. Sometimes these fallible people have jobs in payroll and forget to cut checks. The good news is that banks and credit unions issue small personal loans relatively easily, requiring a few pay stubs and the last few months of bank statements. While going to the bank to discuss the situation can be uncomfortable, people in this situation get money within 24 hours when they use convenient online personal loan solutions. Online banking solutions often have lower interest rates and better terms because these alternative lending institutions do not need to satisfy shareholders or spend exorbitant amounts on marketing. As Bill Gates said in the nineties, bricks and mortar banks “dinosaurs.”

People looking to finance an adoption, in vitro fertilization, a cross-country move or other big activity without traditional financing (like a car or RV loan) turn to the personal loan to move life forward at reasonable cost.

2. Consolidating Credit Card Debt to Increase Credit Score
Who wants to pay 19% when they can pay 11%? An 8% difference per year can save the borrower with a $10,000 credit card balance $800 each year or $67 monthly. Fill out our convenient personal loan application. First Financial lenders’ lower loan rates and better terms may surprise you! We have all the security of the big, bricks and mortar banks, namely 128-bit “banking level” security. We have to. The Security and Exchange Commission and other federal institutions demand it.

3. Borrower Prefers or Needs a Fixed Rate and Term
Borrowers (or their parents or spouses) often advocate for the personal loan because it involves making the same payments at the same schedule until the loan is paid off. Credit card rates are variable and could rise several percentage points yearly. Those who make a clear decision about one large purchase appreciate the clarity of paying for it consistently over a limited period of time.

First Financial Personal Loans Provide the Savings only Online Functionality Delivers
First Financial’s lending partners can provide low cost personal loans because of their cost-saving, online structure. Apply for an affordable personal loan here, even if your credit rating is “fair,” “poor” or even “bad.” Our comprehensive application was designed by financial professionals who understand that an applicant’s financial history can be complex, particularly in the post-recession era. Fill out the application in minutes and learn how much you qualify for within 48 hours. Follow First Financial on Facebook to get smart budgeting and saving tips, too!

When Bad Credit Loans Do a Lot of Good

Bad Credit borrowers photo

 Tracey Espinoza remembers the day in 2013 when she had to leave the home she loved due to foreclosure. As she was packing up her bedding, she thought, “Well, at least they can’t take my pillows. At least I don’t think they can.”

Like many Americans, Tracy and her family got caught up in the aftermath of the economic downturn of 2008 to 2011. By 2012 neither her nor her husband’s salary had increased and getting another job at higher pay wasn’t panning out.

Complicating matters, they’d had two children in the previous four years, and Tracy cut back work to part-time to care for them. When Tracy could not find full time work in her field, they were unable to keep up with mortgage payments and fell into foreclosure, ruining their credit. When her husband’s 8-year-old Toyota Acura needed a new transmission, they turned to a “bad credit” credit card to pay for it. He needed to get to work reliably—without missing a day—after all.

Even now in 2015, wages have not caught up with the stock market rebound. A Wall Street Journal article quoted the senior human resources manager of Ohio’s First Solar manufacturing saying, “Wage pressure? I don’t think we’ve necessarily seen that.” After all, at their last job call, 700 people showed up for 120 positions. They had their pick.

Surmounting the “Bad Credit” Stigma
“Bad credit” loans and credit cards suffer from a somewhat undeserved reputation. Where “good credit” typically starts at the 700 score and above, “fair,” “poor” and “bad credit” make up the tiers beneath. With over 50% of Americans now in these “subprime” categories, many turn to higher rate loans to keep their computers, cars and even bodies working so they can earn a living.

man with money after his bad credit personal loan
Where “Bad Credit” Loans Do the Most Good

These three situations prompt borrowers to gather their courage and get a “bad credit” loan to keep going.

Building Credit: If you’re in the subprime credit category, most likely you’ve learned that every credit card you apply for checks or “dings” your credit record. Every “ding” drops your credit score by 10 points or more. Ironically, those with the best credit use credit cards the least. They have the most “available” credit. Of the $30,000 that their banks, mortgage holders and auto lenders feel they can afford to borrow, they may currently be using $3,000 of it. We all should be there someday! Borrowers working to build their credit rating, on the other hand, can avoid incurring a credit check and subsequent credit “ding” by getting a bad or low credit loan. Typically, the lender requires no collateral and will not contact Experian, TransUnion or EquiFax, the three largest credit reporting agencies. It simply needs bank statements, pay stubs, proof of residency and limited other documents.

Keeping Income Earning Tools Functioning: Many Americans today are abandoning corporate careers for freelance work. In fact, software giant Intuit performed a study of thousands of American workers and found an interesting draw to an independent lifestyle. Their findings prompted them to declare that by the year 2020, 40% of the American workforce will be freelance. While the freedom and the endless pajama-wearing is great, freelancers have to pay for lots of things that don’t even cross the corporate employee’s mind. These items include: computer repair, subscriptions to SaaS services, and transportation. When any one of these breaks down, the time and the repair budget fall on the freelancer. With work mounting, rectifying issues as quickly as possible becomes paramount. If clients have not paid but bills are due, freelancers and other entrepreneurs often have to resort to credit cards. The start-up business may not even have a credit line established. Therefore, they fall into the “subprime” category. Should they give up on their business? Is THAT the American Way? The most successful freelancers work back channels and creative pathways to reach their goals. Many businesses have resorted to “bad credit” loans and even credit cards to stay in business until their breakthrough.

When Fees and Penalties Are Burdensome: A 5% late payment on a $2,500 rent runs to $125 of money-for-nothing. A bad credit loan, on the other hand, comes in handy when big payments come due. When an unavoidable fee or penalty comes within just a few days of a paycheck or accounts receivable avalanche of past due payments from clients, it makes sense to pay the expense and then quickly pay off the short-term loan.

First Financial Welcomes Bad Credit Borrowers
First Financial can find the right loan instrument, even for those with poor, fair or bad credit. Because more than 50% of Americans fall into the subprime category, enterprising alternative banks (with all the security the big, bricks and mortar banks offer) deliver affordable loans. Apply for a bad credit or low credit score in minutes here. Follow us on Facebook to get smart about building your financial future.

Top Surprise Expenses

Personal loans can help with surprise, non-monthly expenses.

top surprise expenses a personal loan can help

A Personal Loan Keeps You on Your Path

Winston churchill on courage

The Intricate Workings Behind the Cash Advance or Loan Offer Scam

 

We will never ask you to send us money upfront for any reason.

*We do not have foreign call centers or automated phone dialers. We do not do direct mail, email or phone solicitation for any service we offer.

*All applications must be completed online at our website. Do not send money or give anyone your banking information over the phone, thru email or on a paper application you received. Our applications online are the safest and most secure way to submit your application.  

Every day in the United States, hundreds of people turn over the last of their hard-earned money to scam artists. According to the FBI, scams related to cash advances and loan offers add up to millions each year.

How can so many be defrauded so easily? Careful criminal planning.

American and overseas operations start by creating websites that resemble those of a government agency or a familiar banking institution like Citibank, Money Mutual or First Financial. They advertise loan offers at very low rates on these websites, but they never make a single loan. They simply collect your personal data including bank account numbers, social security numbers and more. They deny every applicant, BUT the information they’ve collected is a gold mine.

They sell it to a second operation. Using a familiar bank name and the target’s personal information, this second company has little problem convincing unsuspecting consumers that it’s legitimate. Often, it explains that it has “more flexible” loan requirements because it is larger or more efficient or specializes in a certain area. The borrower need only prove they can make the first payment to win the loan. Here’s where alarm bells should go off. The “loan agent” then asks the borrower to put the first payment on a Walmart Green Dot or other cash card or wire the money electronically.

When the loan amount doesn’t arrive in the borrower’s bank account, the “loan agent” explains that another sum is needed for insurance. This technicality can be taken care of, again, by putting the amount on a cash card and providing the cash card numbers to the “loan agent” . . . as soon as possible, of course. To learn more signs of certain fraud, read the Beware Common Cash Advance and Loan Scams: Clear Signals of Fraud page in our consumer notices section.

Cash Advance and Loan Fraud Will Always Be with Us

Most of us can’t comprehend taking someone else’s money let alone spending months constructing elaborate schemes, telephone scripts and letters to defraud people in sometimes desperate situations. Our own rejection of such malicious acts sets us up to believe the friendly “loan agent” at the other end of the line really does have our best interests at heart. When a loan proves to be fraud, many prefer to keep the incident to themselves. If you’re in this situation, please don’t let embarrassment paralyze you. These criminals worked hard to concoct the perfect fraud. You didn’t stand a chance. BUT by reporting everything you know to the proper authorities, you can help keep more people from becoming victims. The Federal Trade Commission (FTC) and the FBI both work hard to find and shut these scams down. If you or a loved one has become a victim of fraud, report the crime to the FBI at https://www.ic3.gov/default.aspx. If an illegitimate “loan agent” uses the name First Financial, please call us right away at 800-315-7791 so we can report it to the state attorney general’s office.

Report a crime: FBI – https://www.ic3.gov / Federal Trade Commission – https://www.ftc.gov

A+ Rated First Financial Gets Money to You Fast . . . and Ethically

First Financial proudly adheres to strict ethical standards set by the Securities and Exchange Commission (SEC). If you need funds for medical bills, car or computer repair or anything, fill out one of our easy loan applications. With automated services and low overhead (no physical buildings to staff and power), we can charge lower rates and fees than neighborhood banks. Stay connected to First Financial’s offers through our Facebook and Google Plus

4 Power Tips for Getting Personal Loan Approval Even with Bad Credit

Where achieving a healthy weight depends on limiting food (energy) intake and increasing energy expenditure, healthy financial profiles spring from a similar balance of limiting expenses and maximizing income over time. Personal loans support both sides of this balance, optimizing wealth if not in the next year, at least in the next five or 10.

Personal loans often serve to:

  • consolidate debt owed to high interest rate credit cards to lower rate loans. Lower monthly debt payments add up significantly over months and years.
  • provide the capital to finance the classes, degrees and business ventures that supplement income. Additional monthly income eventually increases exponentially.

Even if your credit score is under 640 (currently considered the lower end of “good credit”), you can get a personal loan.  Here are some tips for becoming proactive and getting the personal loan that balance your cash flow in your direction, bad credit or not.

  1. Apply for a secured personal loan.  If your name is on the title to a car or home, a bank may not even check your credit score. The asset, rather than your spending habits, gives the banker the reassurance that the loan will be repaid. Do consider whether you’re willing to lose this asset, however, should you be unable to pay back the loan. Get an idea of how much the car is worth through www.edmunds.com and how much your home is worth through www.zillow.com. Lenders will typically lend only a portion of that amount.
  2. Consider requesting the least amount needed. Loan requirements get easier and easier the less you ask for.
  3. Research online and offline personal loan vendors up front BEFORE applying for one loan. Because each credit inquiry impacts your credit, the more banks that check your credit, the lower your score goes.  If your credit is under 640 and the bank only loans to those with “good credit,” you won’t win the loan and your credit score will drop, a lose-lose situation. Consider instead applying to financial institutions that specialize in bad credit loans. These firms have the products and resources to tailor a loan to your specific financial situation. More, you’re more likely to win the loan with just one inquiry.
  4. Consider Credit Unions and Online Financial Institutions.  Smaller and online lenders spend far less on marketing, labor and overhead. The online lender needs no bricks and mortar branches and a fraction of the labor as many decisions and actions are automated. Our blog post 4 Ways Online Banks Keep Cash Advances & PayDay Loans Safe and Secure [LINK] covers just how online lenders have the same level of security if not more than offline lenders.

 

Is the Personal Loan a Solution for You?

Consumers often find that once they begin their new financial habits (reducing expenses and increasing income), the process becomes addictive. Just taking charge of your finances will help you feel more confident and happy. Even if you’ve spent yourself into the “bad credit” category, having a plan and acting on it provides the reassurance that you won’t be there forever!

3 Common Situations When a Cash Advance is a Good Idea

 

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woman with money problems

 When an unanticipated expense hits, financial institutions exist to make sure that families limit their losses. Cash advance and payday loans, which are short term, unsecured (no car or home collateral needed) and fast, keep people solvent until unsettling times pass.

Unexpected financial glitches happen to all of us. Stress and shame send some into freeze mode, but denial only causes late fees and creditor phone calls to mount. The cash advance option or easier cash advance app makes sense in several situations.

  1. You’re trying to avoid a credit check that impacts your credit score. When bills are due but funds are insufficient, some turn to the new credit card offers that come in the mail regularly. If you’re working to build your credit, however, you know that every credit inquiry lowers your score. A cash advance or payday loan doesn’t require a credit check. The requirements do include:
    • proof of employment
    • employment income of $800 per month
    • U.S. Citizenship
    • proof of a checking account
    • a short telephone call

This is gathered in a short, online application you can easily fill out on your phone anywhere. Once the lender gets that information, it’s typically a matter of hours before you’re approved. The lender knows you’re probably in a dicey situation and works hard to provide an answer as soon as possible.

2.     Late payment penalties are more than the cost of the payday loan.  If your mortgage is $2,000 and you have a 5% late payment penalty, you’ll be out $100 if you don’t pay the loan on time. Many fees for non-payment are higher than the charges that come with a payday loan or cash advance.

3.     The loan is required for you to earn an income.  A broken down car or crucial computer malfunction can interrupt your earning hours dramatically. To keep income steady, getting both into working order is crucial. The payday loan or cash advance helps get you back to work fast.

Payday Loan Cash Advance Information

While home and car loans are amortized over years, typically the cash advance loan is repaid within a month, when a consumer’s next paycheck is deposited.   After you fill out the application and sign forms, the money arrives in your checking account within one to two days. Similarly, the money plus the loan fees are then withdrawn at the end of the month when you are paid. It is also possible to extend the loan for another month if you need to. It’s smart, however, to have a plan to pay off the loan when it is due.

First Financial: Your Source for Fast, Trustworthy Emergency Credit

First Financial is a nationwide retailer of financial services. We provide home, auto and personal loans to applicants from every state. With an A+ rating from the Better Business Bureau, you can be confident that your transactions are safe every step of the way. Our system relies on trusted names like Verisign and Norton to get you money quickly with no glitches. Interested in checking us out for a while? Feel free to follow our Facebook page where we relate daily modern money tips.

 

Personal Loans available throughout the United States

Personal Loans available throughout the United States for any purpose and loans are available for most all credit situations with Personal Loans Mania.  Personal loans are also known by several other names, including unsecured loans or installment loans.  Personal Loans For Bad Credit Many borrowers find they are at a disadvantage when applying for a personal loan, simply because they’ve made credit mistakes in the past.  Personal loans for people with bad credit are becoming more common because people in general are spending more than they can afford.  Personal loans are the loans that you take for your important and not-so-important expenditures.  Personal loans come as a sigh of relief for the people in urgent need of cash or credit.

Personal loans are convenient for people who wish to make a big purchase.

Personal auto loans can be obtained nationwide for new or used automobile purchases and with our quick online processing you can be in your new automobile quicker than ever.  Personal Credit Services does not share or sell your information.  Personal or signature loan financing is not as prevalent as it once was due to the fact that it has a sales cost to the financial institution or lender and is more difficult to package using computerized underwriting programs.

Personal loans are convenient for people who wish to make a big purchase, for whatever reason, but without the hassle of having to save for months on end.

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First Financial ® Corporate Headquarters 2850 Womble Road Suite 100-604 San Diego, CA 92106

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