I can think of fifty or seventy-five reasons a person might need to take borrow some cash for a short period of time. Think through this scenario - it's April 5th, and in just ten short days the government is going to be looking for a rather large check in the mail from you. Your previous fiscal year went better than expected, which is turning out to be both a blessing and a curse now that you're staring at your obscenely large tax burden.
You face one big challenge: in spite of the fact that you put in reserve the necessary funds for the government's bill, your tax account no longer has any money in it due to the fact that you and some associates took an unplanned vacation to Las Vegas. If only the government had sympathy toward your spontaneous lifestyle, you wouldn't have any stress right now. Unfortunately, they don't, and now you're going to have to get someone to lend you enough money to pay your taxes - or you'll be paying the penalty.
You have another obstacle between you and your on-time payment to the government - you have terrible credit. See, that all goes back to the time you bought a brand new Dodge truck because the dealer made you an offer you couldn't refuse, so you financed the whole thing in spite of the fact that there was no way your meager income would cover the payments. You were soon several months behind, and before you knew it the repo man was taking your shiny rig away to be sold at auction.
You have yourself in a serious quandary - how are you going to get the government's money to them when you have no cash and really bad credit? There is an answer, although it's not ideal. Certain types of lenders will give you a signature loan for people with really bad credit.
First you should understand what a signature loan is, although it's fairly self explanatory. You walk in, fill out a couple forms, sign your name (hence, signature loan) and walk out with the cash you need. It's that simple, but it may not be that easy unless you can fulfill a couple of the prerequisites.
A few complications may arise. One, you'll have to prove to the bank that you actually have earnings to justify their loan. A lender may not mind your bad credit as much if they see that your current income exceeds your personal expenses including the new payment on your loan.
Another prerequisite to loan approval may be your demonstration to the bank that you can provide them with some valuable, sellable collateral to secure the loan. Nothing could make the bank feel more secure than knowing they can sell your car or your jewelry if you decide not to make payments. Of course the best advice is not to give something you'll actually miss if the lender ends up selling it.
If you can convince the bank you're not a major loan risk, you'll end up getting the loan and surviving the day. Next time you should probably be more prudent about the use of your emergency cash reserves and your tax planning. Don't let your financial situation become a vicious cycle! - 16003
You face one big challenge: in spite of the fact that you put in reserve the necessary funds for the government's bill, your tax account no longer has any money in it due to the fact that you and some associates took an unplanned vacation to Las Vegas. If only the government had sympathy toward your spontaneous lifestyle, you wouldn't have any stress right now. Unfortunately, they don't, and now you're going to have to get someone to lend you enough money to pay your taxes - or you'll be paying the penalty.
You have another obstacle between you and your on-time payment to the government - you have terrible credit. See, that all goes back to the time you bought a brand new Dodge truck because the dealer made you an offer you couldn't refuse, so you financed the whole thing in spite of the fact that there was no way your meager income would cover the payments. You were soon several months behind, and before you knew it the repo man was taking your shiny rig away to be sold at auction.
You have yourself in a serious quandary - how are you going to get the government's money to them when you have no cash and really bad credit? There is an answer, although it's not ideal. Certain types of lenders will give you a signature loan for people with really bad credit.
First you should understand what a signature loan is, although it's fairly self explanatory. You walk in, fill out a couple forms, sign your name (hence, signature loan) and walk out with the cash you need. It's that simple, but it may not be that easy unless you can fulfill a couple of the prerequisites.
A few complications may arise. One, you'll have to prove to the bank that you actually have earnings to justify their loan. A lender may not mind your bad credit as much if they see that your current income exceeds your personal expenses including the new payment on your loan.
Another prerequisite to loan approval may be your demonstration to the bank that you can provide them with some valuable, sellable collateral to secure the loan. Nothing could make the bank feel more secure than knowing they can sell your car or your jewelry if you decide not to make payments. Of course the best advice is not to give something you'll actually miss if the lender ends up selling it.
If you can convince the bank you're not a major loan risk, you'll end up getting the loan and surviving the day. Next time you should probably be more prudent about the use of your emergency cash reserves and your tax planning. Don't let your financial situation become a vicious cycle! - 16003
About the Author:
Mark is the local expert on all kinds of financial tools, including bad credit personal signature loans and payday signature loans.
