Posts Tagged Banks
Personal loans for bad credit-Chicago area only?
jds asked:
I have less than perfect credit (about 530 credit score). I am now trying to improve that score. I have a great job and make very good money. I am looking to get a personal loan for about $5,000. I would like to get this loan for a purchase but also to have the positive payment history on my credit report and bump up my score.
I have less than perfect credit (about 530 credit score). I am now trying to improve that score. I have a great job and make very good money. I am looking to get a personal loan for about $5,000. I would like to get this loan for a purchase but also to have the positive payment history on my credit report and bump up my score.
Does anyone know of any banks in the Chicago area that may be able to help?
Also, the purchase I am making will not allow me to use a credit card. It must be a cashier’s check or cash.
Thank you!
Tommy
Dispute Credit Report – How to Do it Right
David N Kamau asked:
Most consumers do not know how to dispute a credit report, nor the process the credit bureaus take to verify a dispute. First of all, it all depends on what your letter said.
Most people will phrase their letter to say, “this information is incorrect” or “the dates are wrong.” This is not how you dispute a negative tradeline on your report.
The credit bureau sends a dispute form letter to the creditor, which they are used to receiving. It will state what the consumer is disputing. First, it will ask to verify the consumer’s information; name, address and those personal details.
Next, it will ask to verify whatever you disputed; the dates are wrong or this information is incorrect. The creditor will answer with the information is correct and supply and verify your personal information. This is to make sure the agency and creditor are indeed talking about the same person and same credit file.
Next, the creditor will just say the information is correct, here’s their personal information. Unfortunately, that is all that’s needed. And it all hinged on what you letter stated.
Get Creative in Your Disputes
When you are going to dispute a tradeline, you must get to the crux of what the creditor needs to verify. Say you have a loan from 10 years ago that you want to dispute because you didn’t pay it off. First, it’s a long shot, but many companies or even banks displace information or get it mixed up.
You are counting on this and develop your dispute letter to make them search for the information. Remember, they only have 30 days before they must remove the item. So you create a letter saying you do not recall signing any loan forms and to please forward the original copies bearing your signature.
This is only stating you do not remember taking out this loan and before you pay for someone else’s responsibilities, you want to make sure it’s yours. Either they begin searching or they remove it.
The point is, you must be creative and flexible in your judgment if you want to successfully get your credit report in order.
While you’re at it, avoid using dispute forms from any of the credit bureau’s website. And write in your own words; never copy credit dispute letters off the internet as millions of people may have used the exact same letter(s).
Dan
Most consumers do not know how to dispute a credit report, nor the process the credit bureaus take to verify a dispute. First of all, it all depends on what your letter said.
Most people will phrase their letter to say, “this information is incorrect” or “the dates are wrong.” This is not how you dispute a negative tradeline on your report.
The credit bureau sends a dispute form letter to the creditor, which they are used to receiving. It will state what the consumer is disputing. First, it will ask to verify the consumer’s information; name, address and those personal details.
Next, it will ask to verify whatever you disputed; the dates are wrong or this information is incorrect. The creditor will answer with the information is correct and supply and verify your personal information. This is to make sure the agency and creditor are indeed talking about the same person and same credit file.
Next, the creditor will just say the information is correct, here’s their personal information. Unfortunately, that is all that’s needed. And it all hinged on what you letter stated.
Get Creative in Your Disputes
When you are going to dispute a tradeline, you must get to the crux of what the creditor needs to verify. Say you have a loan from 10 years ago that you want to dispute because you didn’t pay it off. First, it’s a long shot, but many companies or even banks displace information or get it mixed up.
You are counting on this and develop your dispute letter to make them search for the information. Remember, they only have 30 days before they must remove the item. So you create a letter saying you do not recall signing any loan forms and to please forward the original copies bearing your signature.
This is only stating you do not remember taking out this loan and before you pay for someone else’s responsibilities, you want to make sure it’s yours. Either they begin searching or they remove it.
The point is, you must be creative and flexible in your judgment if you want to successfully get your credit report in order.
While you’re at it, avoid using dispute forms from any of the credit bureau’s website. And write in your own words; never copy credit dispute letters off the internet as millions of people may have used the exact same letter(s).
Dan
** Personal Loans **?
Posted by admin in Other - Business & Finance on October 19, 2010
vmorjr64 asked:
I am 42 years old, single with 1 child, live in a rental home, I am full time employed with a large logistics company for 4 years. In September of 2006, I lost my parents in a car accident, dur to their fixed incomes, I have had additional debt and responsibilities placed upon me after their passing.
I am 42 years old, single with 1 child, live in a rental home, I am full time employed with a large logistics company for 4 years. In September of 2006, I lost my parents in a car accident, dur to their fixed incomes, I have had additional debt and responsibilities placed upon me after their passing.
I have a small barn repair and roofing business that I work at on weekends. I am desperately seeking a loan to help get me above water and finance my side business. I am seeking a $125,000 personal loan, my credit isn’t that great, I ran credit reports on Monday the 26th, 2007, my Experian score is 657, Equifax – 649, TransUnion – 646, have no collateral, all I have is I am a hard worker and have been keeping up on my bills and other responsibilities. Is there any banks, lending companies or finance comapnies that could assist me with a loan, with repayment terms over a period where I could pay anywhere from $750.00 to $1000.00 per month?
Thank You
Jesus
Your Personal Credit Report – What’s In It and What Does It All Mean?
Marie Stark asked:
Do you know what your credit score is? Do you know what credit
score banks and other lenders look for when they review your
mortgage application? When was the last time you looked at your
personal credit report?
Your credit score is a reflection of how well you use credit and
many view it as an excellent picture of your financial health or
stability. Your credit score is based on information contained in
your credit report. Your personal credit report shows several
pieces of your financial history. It shows:
- How much credit you have been approved for and how much of it
you are using
- Which bills you pay on time and which bills you pay late
- Who all of your creditors are, how long you’ve had
each account open and how much credit you are using with each
creditor.
A person seeing your credit score and reviewing your credit
report can draw many conclusions about you based on what they see.
Your credit score is a numeric value between 300 and 900 that is
primarily determined by the timeliness of your past loan payments
and the amount of debt you have.
Actual rankings vary slightly from lender to lender but
generally speaking, a credit score of 620 or above is considered
good and a credit score of 619 or below is cause for some concern
and additional review. The median credit score in the United
States is 723. This means that the same number of people have a
credit score above 723 as those that have a credit score below
723.
Obviously, the higher your credit score is, the better off you
are. A credit score of 750 or above is usually considered to be
excellent, while a credit score below 580 means it could be very
difficult to qualify for a loan.
You should review your credit report at least once a year to make
sure it is accurate and to see what your credit score is. Each of
the three credit reporting bureaus — Experian, Trans Union and Equifax — are required by law to give you one free annual credit report and you can even get this credit report free online.
You can find information about getting your free credit
report online at http://www.annualcreditreport.com/
Lori
Do you know what your credit score is? Do you know what credit
score banks and other lenders look for when they review your
mortgage application? When was the last time you looked at your
personal credit report?
Your credit score is a reflection of how well you use credit and
many view it as an excellent picture of your financial health or
stability. Your credit score is based on information contained in
your credit report. Your personal credit report shows several
pieces of your financial history. It shows:
- How much credit you have been approved for and how much of it
you are using
- Which bills you pay on time and which bills you pay late
- Who all of your creditors are, how long you’ve had
each account open and how much credit you are using with each
creditor.
A person seeing your credit score and reviewing your credit
report can draw many conclusions about you based on what they see.
Your credit score is a numeric value between 300 and 900 that is
primarily determined by the timeliness of your past loan payments
and the amount of debt you have.
Actual rankings vary slightly from lender to lender but
generally speaking, a credit score of 620 or above is considered
good and a credit score of 619 or below is cause for some concern
and additional review. The median credit score in the United
States is 723. This means that the same number of people have a
credit score above 723 as those that have a credit score below
723.
Obviously, the higher your credit score is, the better off you
are. A credit score of 750 or above is usually considered to be
excellent, while a credit score below 580 means it could be very
difficult to qualify for a loan.
You should review your credit report at least once a year to make
sure it is accurate and to see what your credit score is. Each of
the three credit reporting bureaus — Experian, Trans Union and Equifax — are required by law to give you one free annual credit report and you can even get this credit report free online.
You can find information about getting your free credit
report online at http://www.annualcreditreport.com/
Lori
Where can I get a legitimate personal loan?
Posted by admin in Personal Finance on June 25, 2010
asked:
I need a personal loan to pay off some bills. Most banks have denied me because my credit is only fair. Also a lot of them have stopped giving unsecured personal loans. What banks give loans a little bit easier than most? What companies are out there that I can get a legitimate loan from? Most of these companies are scams and are on ripoff report.com.
Chester
I need a personal loan to pay off some bills. Most banks have denied me because my credit is only fair. Also a lot of them have stopped giving unsecured personal loans. What banks give loans a little bit easier than most? What companies are out there that I can get a legitimate loan from? Most of these companies are scams and are on ripoff report.com.
Chester
Which Credit Bureau Should I Use To Check My Credit Report?
Beth Pardue asked:
There are three main credit bureaus in the United States; Equifax, Experian and Trans Union. Each bureau collects your personal and financial information which is then sold to lenders such as banks, credit unions, credit card companies, mortgage and auto loan lenders. Your credit report is the product of this collected information. Lending and credit companies use your credit information to determine if they will approve you or not and at what interest rate you will pay.
Many people are recognizing the importance of checking their own credit report to verify its accuracy and to make sure that they know where they stand in the credit world. Until they begin the process to obtain a copy of their credit report, some people do not realize that they actually have three credit reports instead of just one. The three main credit bureaus keep separate credit records from one another and produce their own credit reports. Instead of the credit bureaus working together and sharing information among themselves like some people may think, they are actually competitors. That is why the information provided on one credit report will more than likely be different from the information provided on the credit report from another credit bureau. Therefore, it is recommended to check your credit report from all three credit bureaus in order to see the complete picture.
There are a couple of options to checking all three of your credit reports. You can contact each of the credit bureaus individually to request a copy. Or you can go through one of the many companies that provide a 3-in-1 credit report like [http://www.credit-report-credit-score.com]. Obtaining a 3-in-1 credit report is usually more convenient and user friendly to the consumer compared to requesting individual copies.
Verifying the data on all three of your credit reports is the only way to know that the information that potential lenders and creditors are evaluating you on is correct. When considering you for a loan, some lenders will pull your credit report from only one or two of the credit bureaus while other lenders will pull your credit report from all three. It is always a good idea to check your credit reports BEFORE applying for your next big purchase. Covering your bases beforehand can often times save you a lot of time and hassle during the application process.
————————-
Note: This article may be freely reproduced as long as the authors bio paragraph at the bottom of this article is included, the article is published “as is” (unedited) and all URL’s are made active hyperlinks with no syntax changes.
————————-
Renee
There are three main credit bureaus in the United States; Equifax, Experian and Trans Union. Each bureau collects your personal and financial information which is then sold to lenders such as banks, credit unions, credit card companies, mortgage and auto loan lenders. Your credit report is the product of this collected information. Lending and credit companies use your credit information to determine if they will approve you or not and at what interest rate you will pay.
Many people are recognizing the importance of checking their own credit report to verify its accuracy and to make sure that they know where they stand in the credit world. Until they begin the process to obtain a copy of their credit report, some people do not realize that they actually have three credit reports instead of just one. The three main credit bureaus keep separate credit records from one another and produce their own credit reports. Instead of the credit bureaus working together and sharing information among themselves like some people may think, they are actually competitors. That is why the information provided on one credit report will more than likely be different from the information provided on the credit report from another credit bureau. Therefore, it is recommended to check your credit report from all three credit bureaus in order to see the complete picture.
There are a couple of options to checking all three of your credit reports. You can contact each of the credit bureaus individually to request a copy. Or you can go through one of the many companies that provide a 3-in-1 credit report like [http://www.credit-report-credit-score.com]. Obtaining a 3-in-1 credit report is usually more convenient and user friendly to the consumer compared to requesting individual copies.
Verifying the data on all three of your credit reports is the only way to know that the information that potential lenders and creditors are evaluating you on is correct. When considering you for a loan, some lenders will pull your credit report from only one or two of the credit bureaus while other lenders will pull your credit report from all three. It is always a good idea to check your credit reports BEFORE applying for your next big purchase. Covering your bases beforehand can often times save you a lot of time and hassle during the application process.
————————-
Note: This article may be freely reproduced as long as the authors bio paragraph at the bottom of this article is included, the article is published “as is” (unedited) and all URL’s are made active hyperlinks with no syntax changes.
————————-
Renee