Comments on: Guaranteed Loans to Rebuild Your Bad Credit

By: davegs

davegs — Sun, 27 Dec 2009 09:42:00 +0000

I’d do the same and get a secured credit card to rebuilt credit. To get a loan these days requires that you have good credit, equity, a stable job, pretty much you have to have say 10 out of 10 requirements when in the past if you had a job it seemed you could get a loan. Getting an unsecured business loans these days is nearly impossible unless the bank see that you can pay it back and they are 100% confident in they’ll get their money on time.

By: davegs

davegs — Mon, 21 Dec 2009 05:47:00 +0000

I would think about unsecured business loans they help rebuilding credit much better than a credit card I think, there are less variables compared to a credit card line of credit open available etc. With loans you either paid it on time or you didn’t.

By: C.Angel

C.Angel — Thu, 01 Jan 1970 00:00:00 +0000

Perhaps 2 years ago the debt ratio was you needed at least 35% of your available credit free to use. I think in the current credit crunch its much higher

By: Jamie94

Jamie94 — Thu, 01 Jan 1970 00:00:00 +0000

Generally speaking, the fastest and cheapest way to establish or rebuild credit is with a “secured” credit card. The process is that you open up an account with a bank and they give you a credit card for the amount of the account and use the bank account for collateral.

By: Angel57

Angel57 — Thu, 01 Jan 1970 00:00:00 +0000

if the lender determines that their debt with your car loan is too high for their income, you’ll have problems getting the loan