Category Archives: Loans

Mar
28
2023

Bad Credit Tenant Loans – No Credit Inquiries and Collateral Submission

It is undoubtedly true that a valuable asset like home, can actually act as a strong financial solution that can handle various financial problems. Most of the lenders consider this option of owning a property as an added qualification for the borrowers to avail a good loan service. But unfortunately, not everybody is lucky to have such an assistance that can be reimbursed at times of crucial monetary requirements. Hence, the facility of bad credit tenant loans has been offered by the finance market with the motive of providing equal financial solutions to both homeowners and non homeowners. This complete range of loans is generated by considering various requirements of a tenant in mind. Moreover, the borrowers can also stay relieved with the low interest rate charged on these loans. Hence, if you are also dealing with the worst phase of poor credit maintenance and wondering for a loan that offers unbiased financial assistance, then immediately opt for this loan facility.

Bad credit tenant loans are free from the huge clause of collateral submission and thus all private and council tenants are eligible to draft an application for this loan. Moreover, as no collateral is deposited, the long, extensive and time consuming phenomenon of collateral verification is also not entertained during the time of loan processing. This kind of facility act as a catalyst in increasing the speed of the mechanism executed for loan approval. Therefore, with bad credit tenant loans, the borrowers are assured of receiving a quick loan assistance that is capable enough of beating various economic hassles.

Under bad credit tenant loans, an applicant is requested to apply for a loan amount ranging between £200 and £25,000. However, these loans are basically offered for a short term period and for this reason only, the repayment procedure has been kept comparatively easy. The borrower enjoys leniency and flexibility with the repayment schedule in the form of extension, which can be taken by the applicant, if he fails to make the repayment on the due date. However, lender has the sole right of issuing an extension and thus, it is important for the borrower to convince the lender on specific and genuine grounds. You may have to pay an extra amount of charge for availing the facility of extended repayment schedule.

Once you are cleared with all terms and regulations of bad credit tenant loans, you can easily go ahead with the online application procedure. In this process, you are required to find yourself a suitable online lender. After this, you just need to fill up the online application form for the loan and rest will be executed by the professional executives of your preferred lender agency. They will then make efforts to verify the given information about your personal and employment status. As soon as your details are verified and your loan gets approved, the loan amount will be transferred in your savings bank account immediately. Hence, even tenants can now take a sigh of relief with this range of loans.

Jul
04
2022

An Introduction To Student Loan Forgiveness Public Services

Those who have large student debts may be interested in the student loan forgiveness public service program. Congress passed an act in 2007 that makes it possible for those who work in the public service sector to be forgiven a large portion of their student loans. While there are a number of stipulations and conditions, this act makes it easy for those who hold a low-income public service job to repay their student loans in full.

What type of loan one has taken out has a bearing on whether or not the individual may qualify. Federal loans such as Federal Direct Stafford Loans, Federal Direct PLUS Loans and Federal Direct Consolidation Loans can all be forgiven under this program. Those with FFEL loans can qualify for student loan forgiveness if the loan is consolidated into a Federal direct loan.

Once a person who holds a public service job has made 120 payments on one of the loans mentioned above, he or she would then be forgiven the remainder of the loan. Public service jobs that qualify one to partake of this loan forgiveness program include serving in the army or the police force, working at a government job (besides serving in Congress or in the Senate), working in a public health or public education job, and working for social services or public interest legal services. Working as a librarian for a public school or library, being employed full-time at a nonprofit foundation or organization and working for a tribal college would also qualify an individual to obtain student loan forgiveness once the necessary payments have been made.

Payments would only be counted if they have been made after October 1st, 2007. One would not be able to use either an extended repayment plan or a graduated repayment plan in order to qualify for student loan forgiveness, although income based repayment, income contingent repayment and standard repayment can all be used. It is also very important to realize that all 120 payments must be made while the person is still in public service; if a person does not continue on in public service while making the above mentioned payments, he or she would not qualify for student loan forgiveness.

Loan forgiveness for those employed in the public service sector can be a great boon to those who do not receive a large salary. While the above mentioned rules and stipulations do apply, it is not overly hard to qualify for this program, as long as one continues to work in the public sector for an extended period of time. Obtaining student loan forgiveness under the Student Loan Forgiveness Public Service Program can help one to be freed from a difficult financial obligation that could otherwise cause financial difficulties.