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Dean Hobster's Guide To Personal Finance
Tuesday, 10 February 2015
Guarantor Loans Allow People with Poor Credit to Get Loans
Topic: Finance

You may have got into a poor financial situation and are finding it difficult to meet your debt obligations. This tardiness on your part in paying installments when they are due can result in affecting your credit score, and prevent you from getting any new line of credit. You may find you have to buy another car just so that you can go to work and earn some income, or need to bring in some new gadget to help you in your work. That is the time when guarantor loans can come to your rescue.

Third Party Agreements

A guarantor loan is one, in which somebody else, a guarantor, stands with you to assure the lender that payments will be honoured, and that they stand as a guarantee to ensure the repayment. You have to be above 18 years of age, and be employed or have a source of income, besides having a person who has a good credit rating and stands to guarantee your loan. In most cases, such guarantors are family members or friends, who feel they can take a chance on you, and that it will not lead them into tricky situations. 

This agreement is effectively a form of surety for the lender, although it is not surety which is paid up front.

Excellent Method of Getting Credit

Guarantor loans are also the best way of getting credit, if you have not built up any credit report and have no history that lenders can depend on. Guarantors need to vouch for the applicant of the loan and have to exercise a lot of care to make their own inquiries before standing as surety for the loan.

As well as being a relatively cheap loan, a major advantage of guarantor loans is that the lenders will not carry out any credit checks, and if they do so, will not let it influence their decisions. It also helps to improve the credit score of the borrower, if he or she takes care to see that there is no default on any of the future payments. When you do this scrupulously, it can also save you a lot of embarrassment with the guarantor.

Suitable For Large Sums

It is also possible to borrow large sums as guarantor loans, when you have a decent credit score, but may still not qualify for larger sums, because of your own circumstances. You will have to be sure that the guarantor’s credit score allows the larger sum to be viewed leniently by lenders. You then have to make sure that you have the sources of income, which will allow you to meet the required payments, even if this needs cutting back on your lifestyle to some extent. Look for guarantors you can trust and you are on your way to a better life.

If this article has been of interest to you, please check out the following links as valuable sources of information.

Posted by deanhobster at 4:48 PM GMT
Updated: Thursday, 12 February 2015 3:45 PM GMT
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A Clear Guide To Credit Cards

Credit cards are a simple solution to spending without the need for liquid money. It facilitates one to borrow money from the bank whereby the user can only spend a sum up to his or her set limit depending on various factors. The borrowed amount is then paid back to the bank plus the interest earned on a monthly basis.

Credit cards are only used for direct purchases and withdrawal from the ATM is possible but highly not advisable following the high charges involved. Credit cards can be a good acquisition if well managed but also a huge step back is mismanaged. Before getting a credit card, it is advisable to self-evaluate and ensure you can be able to pay off the amounts borrowed so as to avoid expense accumulation.

It is also worth investigating how much loan companies are prepared to lend to you.

Passing a Credit Reference Test

Before a bank issues a credit card, one should surpass the credit rating threshold and ensure no money will be lost or amount to bad debts. This credit rating is determined by a credit assessment that is performed by qualified personnel from the financial institutions.  These financial institutions do not want to risk any loss of their finances hence the process is thorough and intense.

In order to apply for a credit card, it is a requirement for the applicant to be above the age of 18 years and 21 years in other countries. Credit cards have both pros and cons. To start off with the pros, it is easy to carry and also easy to use since it is widely accepted in comparison to prepaid cards or change cards.

It is also safer than cash since upon theft of the card, the owner only notifies the bank and the card becomes nullified. Credit card also help in fast purchasing since one is able to acquire the goods early and get to pay for them later on. Credit cards also come with freebies whereby the cardholder can get incentives like reward points and discounts.

Be Vigilant For This  

Credit cards also have various negatives attached. It involves various high interests which tend to accumulate with time. The various fees are also overstated. In addition, people with credit cards tend to succumb to impulse buying since there is no ready cash limit which may lead to the misuse of finances. The credit cards also change in terms of charges imposed when it comes to border crossing.   

In conclusion credit cards are a necessary evil that each and every person must live with hence care must be exercised when using them.

Check out the following links for more information relating to ‘bad credit options’

Posted by deanhobster at 4:45 PM GMT
Updated: Thursday, 12 February 2015 4:40 PM GMT
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Your Guide To Car Financing: How It Works And Who�€™s Eligible To Apply
Topic: Finance

Car financing can be defined in simple terms – buy a car today, and pay for it a month later for the next 5 – 6 years. Because not everyone has the money to purchase a brand new car and pay it in case, auto financing has started to become more popular. This option both has positive and negative effects, and these will be discussed further.

Be Prepared

Before we discuss how car financing works, you have to be prepared and understand the risks involved when going for this type of loan from approved loan lenders. Ideally, you have to be prepared. This decision alone will affect your finances for the next 5 – 6 years of your life. You have to make sure that you have a stable source of income to compensate for the monthly amount you need to pay for the car.

Some people make the common mistake of applying for a car loan, only to find out that they can’t manage the expenses after 1 -2 years. The result? They end up losing their cars, and money worth of 1 – 2 years of car loan repayments.

For tips on funding a car purchase, please check out the following link -

Credit Report Check

Before you become eligible for car financing, your credit score needs to be checked. Initially, you’ll be asked to fill up an application. The result of your application, whether it’s denied or approved, generally depends on your credit score. If you get approved, the dealership will approve of your auto loan request and provide you numerous options.

You’ll be given options to pay for the car within 30 – 60 months. The shorter period there is, the smaller the interest fee would be. If you have a little bit of extra money, it’s recommended that you go for the financing solution offering a shorter time frame.

To see some of the aspects of life which can be affected by a poor credit rating, please check out the valuable sources of interest below.

Additional Requirements

Auto financing requirements may depend from one dealership to another. Some dealerships are not so strict on the requirements given that you’ve passed the credit check, while some others require every single bit of document to prove that you’re capable of paying. It’s best that you check with your dealership or broker, if any, to find out what these requirements are so you can prepare in advance.


As mentioned above, fees and interest rates may depend on the dealership as well as the number of years that you have to pay for the vehicle. To find out which dealership offers the best rates, you can scout and start comparing before finally making your decision. It’s okay to send numerous applications and just choose one which works well for your pocket.

Getting approved for a car financing might be great news – but it doesn’t necessarily mean that you have to go for that option immediately. Take your time and find out which companies offer the best rates for you. It may take a bit of time, but this will benefit you in the long run.

Posted by deanhobster at 4:38 PM GMT
Updated: Thursday, 12 February 2015 4:40 PM GMT
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What Exactly Is A Doorstep loan And How Does It Work?
Topic: Finance

A doorstep loan is a form or credit that is given to you and paid in person on a weekly basis. The creditor brings the loan to your home and during the day of payment. The agent comes for the payment on the agreed date. Not everybody can issue for a loan from a bank unless you meet certain qualification. There are also plenty of policies to follow as well interest rates, which are unbearable.

Facts About Doorstep Loan

If you compare another form of loan with doorstep loan, you will realize that doorstep loan is very flexible to pay and does not cause financial stress at all. People who need financial support now and then can get great assist with this type of credit. However, you need to follow a few steps before you can get any money at hand.

Check out more about doorstep loans right here.

The first thing that you need to do is find a company that offers reasonable doorstep loan services at the best loan rates. There are thousands of institutions who venture into this kind of business, but all offer different durations on how long it takes for you to make payments. The reason as to why people seek loans is to boost themselves out of the financial crisis.

That means it would be wise to find a company that offers you a long duration of paying back your loan. It is better that you make small weekly payments for a long period since you will be able to sustain yourself with the little budget you have, without having to borrow elsewhere. Doorstep loan lenders normally have agents who are sent to your home, to plan on how you will be settling your payments.

Apart from that, they also discuss your financial situation and give you suggestions on how it is convenient for you to borrow. New customers do not qualify for much money first, but this changes as you become a trustworthy client.  As a newbie to the company, you can get between a thousand pounds to five hundred pounds.


If you want to get a doorstep loan, start by inquiring online with the company you are have chosen to lend from. It is also necessary that you fill in the form that is provided by the domain if there is one. Evaluation your application does not take long, and the company gives clearance of whether you can get a loan or not.

If you have found this article interesting and would like a little more information relating to subjects such as these, please check out the following sites as sources of information.

Posted by deanhobster at 4:02 PM GMT
Updated: Thursday, 12 February 2015 4:41 PM GMT
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