November 16, 2018

How to Get a Loan With Poor Credit Rating

In the U.S., your credit score is a very important factor in applying for financial products, whether they are loans or advances. If you don’t have a good credit score, you might find it difficult to find loans and access other kinds of credit. Even if you get one, you might be in for higher interest rates than other people who have better credit. The reason is that lenders often worry about the ability of people with bad credit to pay a loan back and they want additional compensation based on the risk.

However, most people do not have a perfect credit score in reality. The truth is that a big portion of the United States has poor credit. So if you are someone who is having issues getting the financing you want for things in your life, do not give up. There are loans for people with bad credit available. There are multiple ways to get such a loan even if you don’t have great credit. A lot of lenders will give people a second chance, even with a spotty credit history.

What a Personal Loan Entails


A personal loan is one of the more popular kinds of financing from traditional lenders. This is also called a term loan. That means that you pay the loan back over a particular length of time. The interest rate can be fixed or variable. It is a fairly straightforward loan, making it easier for most people to understand and thus more common.

One of the primary benefits of a personal loan is that it less complicated than other types of credit. This is because you are typically provided with a fixed payment that does not change. You can pay this back easier because you know how to budget for it and exactly what to set aside.

What Can You Use a Personal Loan For?


You can use a personal loan for almost anything you want. A common example is using one for a car loan. This is usually a 5-year term and lets you afford the vehicle that meets your needs instead of having to settle.

You might also use a loan to get a laptop, phone, or even just some extra money while you look for work or move into a new house. The interest rates on personal loans can be much lower than a credit card so they are popular for certain purchases.

What Chance Do I Have Of Getting One?


If you have moderately bad credit, it will be easier to get a loan than if you have very bad credit. There are many factors that go into your loan chances. The first indicator is your credit score. But don’t worry, you can improve your chances in other ways too.

If you have a good income and other assets, these can factor into your likelihood of getting a personal loan. If you recently got a new job or expanded your business, you could be in luck. The key is to keep attempting to improve your income and assets while paying down previous debts that you may owe. That will make your chances improve so you can get the financing you’ve been wanting.

When it comes to getting personal loans, it can be difficult if you don’t have great credit. Luckily, however, you do have options. You don’t need to suffer the reality of not having access to additional funds. If you use the advice above, you can get the help you need. That way you can bridge the gap due to increased bills, loss of a job, or other life circumstances that may be causing you financial stress.

The Ultimate Guide to Starting to a Profitable Credit Repair Business at Home

If you want to start your credit repair business from the comfort of your home, here is a guide that will help you to get started.

Why Should You Start This Type of Business?


Starting a credit repair business is quite easy and this is the best time to do it for the following reasons:

  • Low Start-up Costs: This business has relatively high-profit potential and you don’t need much money to start it. You simply need to know how to find errors in credit reporting and be able to dispute this information with credit reporting agencies on behalf of your clients.


  • You Have Experience in the Credit Industry: With a background in the field of debit and credit and personal finance, you can offer service to many people who are faced with insolvency. With the challenges, people face while wallowing in debt, they easily default on their loan and debt payments. You can use your experience to help such people gain full control of their finances.


  • You Enjoy Helping People Solve Personal Financial Problems: You can present yourself as a personal finance expert and ask people to allow you to help them to improve their personal finances and avoid bankruptcy.

Industry Overview


Credit management and credit counseling is a fast growing industry that has more than 5,000 firms and employs over 15,000 workers. Every year the total revenue generated in the industry is over $2 billion and total income earned by people working in this industry is about $600 million.



Credit repair business is a highly profitable business with recurring revenue and low overhead. This makes it a good business for someone who wants to start with a low capital. When there is a crisis in the economy, it affects many people who will want to take advantage of your credit management service.

Millions of people in the U.S., Canada, Australia, and U.K. need to repair their credit so they can meet the requirements for a home loan, car loan, apartment lease, credit card or new employment. Also, when you repair their credit, you will help people to save thousands of dollars when they can pay lower interest on their loans. Virtually all adults who are affected by the economic downturn or an unexpected economic event will need to repair their credit at one time or another.

Niche Ideas for Credit Repair


The pool for the credit repair industry is quite large so it is better to focus on a well-defined customer base to attract more customers. If you concentrate on a smaller group, you will be able to show yourself as an expert in that niche and customers will find it easier to trust you. Some of the niches available include:

  • Credit repair for women
  • Credit repair for single-mothers
  • Credit repair for an ethnic group
  • Credit repair for people who were recently incarcerated

Growth Projection for the Industry


It is estimated that revenue for the credit repair services business will grow significantly from 2017 to 2021. During this time, the industry will, however, experience more regulation in the U.S. The FTC is expected to crack down on illegal service providers and those who are out to take advantage of people with bad credit.

The credit repair industry holds a lot of opportunities for anyone who is ready to provide excellent customer service and help their customers to correct credit reporting errors and improve their credit rating.









Tel Aviv Stock Exchange plunges on U.S. credit downgrade

The Tel Aviv Stock Market experienced its largest one-day loss in nearly three years in reaction to the downgrade of the U.S. credit rating.

The exchange’s TA-25 benchmark index of 25 stocks fell 7 percent on Sunday to 1,074.27—the biggest drop since November 2008 at the beginning of the global economic crisis—despite a delayed opening by nearly an hour to allow traders to react to the news on the U.S. downgrade without pressure.

Standard & Poor’s on Aug. 5 downgraded the U.S. credit rating from AAA, the top designation it had held since 1941, to AA+.  The downgrade is likely to result in steeper interest costs on U.S. government bonds, eventually leading to less disposable income.

Analysts reportedly believe that Saturday night’s massive protests throughout Israel against the high cost of living also contributed to the plunge, Haaretz reported.

Since the Tel Aviv Stock Exchange operates Sunday through Thursday, it was one of the first stock exchanges worldwide to react to the U.S. credit rating downgrade.