After paying several thousands of dollars on the root canals on my upper teeth, my dentist told me that they had to be pulled. He told me that the dentist that did the work didn't do it properly and that all of the teeth were infected. After I collected myself, we started discussing the cost of the extraction procedure and the cost of the dentures. I knew I couldn't pay for all of that out of my pocket and he explained the dangers of allowing dental infections to fester. I quickly learned about financing dental procedures. If you are in a similar situation, go to my site to learn about your options of financing dental work.
Everyone wants to improve their credit score, but if your credit is poor due to inactivity or a bad credit history, building credit and improving your score can be difficult. One problem with having poor credit is finding a loan. While there are many lenders willing to loan money, they prefer patrons with high credit scores. Luckily, there are alternative loan options, so check out these loan possibilities if you have a poor credit score.
Equity/Collateral Loans
If you have collateral, your credit score may not even matter, because the physical collateral is used to offset the risk. If you can't repay the loan, the collateral is seized, so the lender is repaid regardless of the outcome. The collateral usually needs to be worth enough to cover the loan amount, such as a car, boat, antique, jewelry, etc. If you own your own home, you may be able to get a home equity loan. With a home equity loan, you can have the loan amount added on to the total mortgage, or you can take out a separate loan/line of credit. The benefit of adding it onto your mortgage is that (depending on the loan amount) it won't affect you much financially because it simply increases your mortgage payment slightly. Of course, with a separate loan, the money is repaid faster.
Car Title/Payday Loans
If you own your own car and need a small loan quickly, you may qualify for a car title loan. With this type of loan, you usually need proof of ID and proof that you own the vehicle. If you don't repay the amount on time, you will likely lose your vehicle. A payday loan doesn't require you to own a car, but it does require you to have a job. You'll need to show proof of employment to get this type of loan. Both types have high interest, so it's best to use them only if you can repay the loan within the short deadline. Some lenders may offer longer repayment periods and extensions, so make sure to shop around for the best fit.
Peer-to-Peer Lending
Peer-to-peer lending is another option if you have poor credit. If you choose peer-to-peer lending, you'll need to find an online company that provides the services. There, you'll post your loan needs. At the same time, various private lenders browse these posts, to choose people with whom they feel comfortable lending money. They may want to see your credit score, but they are usually more forgiving than banks because there is less risk. The lenders benefit by earning a little extra money in interest.
Repaying loans helps boost credit scores, but when your credit isn't great, getting those loans can seem impossible. Luckily, there are many alternative loan options for people with limited or poor credit history. For more information, contact a lender in your area or online today.
Share9 August 2018
