Getting a car loan during bankruptcy has lots of “ifs.” Whether you can get a loan’s first “if” is dependent upon if you have filed a Chapter 7 or Chapter 13 bankruptcy. With a Chapter 7 bankruptcy most lenders will only consider a loan after the bankruptcy has been discharged though there are a few who will consider an in process loan if the 341 meeting of creditors has taken place. With a Chapter 13 bankruptcy which involves a longer time period, the court appointed trustee must be approached and he must in turn approach the court to determine if any more debt will be allowed to be entered into. If the court permits it, one may explore chances of buying a car during bankruptcy. it may also dictate the terms of any such loan which may not be attractive to a lender.
For a Chapter 7 bankruptcy the soundest advice is to put off any car loan during bankruptcy application until the bankruptcy has cleared. Since you can only file bankruptcy every 8 years, the lender knows that you will not be able to file again for the life of the loan. Asking any lender to take on a credit agreement while you are still in the process of exiting earlier ones is not a great scenario and will probably only attract lenders whose rates will represent the risk they are taking. Once you have completed the bankruptcy, an auto loan can be a great way to start rebuilding the credit damaged by the bankruptcy.
Since a Chapter 13 bankruptcy involves an extended time period as you work to discharge your debts on a schedule which allows you to retain your assets by paying what you owe. It is far more likely that sometime during the process that you will need another vehicle. If you go through the proper steps beginning with the court officer who is overseeing your case, lenders will be more willing to consider providing auto loans during bankruptcy. Just remember that the court can set conditions on any loan you make during the process, including the length the amount and the maximum payment. These conditions can be difficult for a lender to accept. At LoanexFastCash.com we have lenders who are familiar with bankruptcy financing. They are specialists and if anyone can help you this is certainly a good place to start.

• 0 Comments

If you read the newspapers and articles that surrounded the Affordable Care Act  you’ll surely find the statistics of how many bankruptcies are caused by medical bills. Some say as high as 60% of bankruptcies result from medical bills. Medical bills being the straw that broke the camel’s back after other financial setbacks. If illness that has resulted in huge medical bills has become a problem and you are having a query of how to consolidate medical bills, then there are several avenues that you may take to work out a solution short of bankruptcy.
First, talk to your medical creditors. When you wait for them to turn you over to a collection agency you’ve already raised the odds that this problem will only escalate. If you can work out a payment plan before the bills get to be more than 90 days old you may be money ahead. Many doctor’s offices and hospitals will accept a payment agreement instead of the costs incurred by pursuing you via a collection agency or the courts.
If the bills seem insurmountable or you get a chilly reception, consider paying a medical bill negotiator who can often get bills reduced for the agreement of regular payments. Much like the reductions which insurance companies gain from hospitals and doctors they can negotiate reductions in the amount owed if you are prepared to pay a monthly payment.
Next we get into two of the more draconian ways of solving medical bills. For your question about how to get help paying medical bills, you could consider a second mortgage or home equity line of credit to wipe out the bills. For many people unsure that continuing illness or a chronic condition’s development this may not seem an acceptable solution to what could become an ongoing problem. Bankruptcy is of course a final possibility since as of this writing medical bills can still be expunged in a bankruptcy unlike credit card debts.
If you need help and advice LoanexFastCash.com has the debt consolidation, debt relief professionals to help you solve your problems. Many of them are not for profit and some are religiously based. If how to get help paying medical bills is your financial problem give us the chance to be of assistance and let us see what we can do. Our simple online application will get you the help you require.

• 0 Comments

If you have never bothered to look into the Making Home Affordable program and you need assistance with your mortgage, now is the time to take a look. If your mortgage is secured by either Fannie Mae or Freddie Mac, or was securitized through them before May of 2009 you are eligible for the HARP program which is a part of MHA. With recent changes in requirements and with an extension until December 31, 2013 now may be a good time to consider a refinance. In fact, this program which had few takers since its inception has had more refinances in the first 4 months of 2012 than in all of 2011.
Interest rates after being at historical lows have begun a slow upward creep. For those who financed a home even five years ago they are still low, but as the housing industry begins a slow recovery the upward motion will no doubt increase. Recent news stories have indicated that home builders have become more optimistic in the past few months and this will surely lead to upward pressure. If you have held off on considering a refinance, now is a good time to jump into the game.
In order to qualify your mortgage must not currently be in default. You may have only one late payment in the previous year and none in the last six months. The extension of  HARP until December of 2013 may allow some individuals to get themselves back on track if they have been delinquent in payments. The other major change which may allow more consumers to qualify is the removal of the upper limit on the LTV. Loan to value ratios were pegged at +125% but changes made earlier this Spring have removed the upper limit. The lower limit of 80% has not been changed. No blog can cover all the various conditions and requirements and it is suggested that you go to the government website for the Making Home Affordable Program. You must begin the process with your current lender but if experience is any predictor many end up with a refinance through someone else. One place you can begin the search is right here at LoanexFastCash.com!

• 0 Comments

There are lots of websites, TV and newspaper ads that guarantee “instant car loans, bad credit”. Look out, they may not be what they seem. Several possibilities occur to me none of them beneficial to you as a car buyer.

They’ll promise you anything to get you in the door and be unable to deliver on their promise.
They’ll get you the loan with an outrageously high interest rate or terms that are not suited to your needs
They’ll engage in business practices which will make wish you went somewhere else.

Bad credit auto loans are a specialized form of lending. If they weren’t you could just go to your local bank or credit union and they’d gladly give you an auto loan. As you may know from experience that’s not generally the way it works. Making sure that you are dealing with people who know how to obtain bad credit car finance is important if you want a successful conclusion to the transaction.
The LoanexFastCash.com has been a source for auto financing for distressed credit for many years and has helped thousands just like you to obtain financing despite past credit problems. We not only have the connections to those specialized lenders and the dealers with whom they work, but we also provide advice to consumers who are trying to make wise financial decisions.
Instant credit approval sounds like it’s guaranteed, but if your credit score is below 540 your chances of obtaining a loan, even through our network is pretty slim. What you’ll need to do before seeking any auto financing is to obtain a copy of your credit report and your score. With these in hand you can begin the process to improve your chances of obtaining a bad credit auto loan. Check the report to make sure there are no errors. If there are, get them fixed. Next take a serious look at what you can afford. Not just the car payment but also insurance, repairs, gasoline etc. Once you have that in hand, you can begin to look for a car that suits your needs and which you can afford to operate. If you begin with a plan and follow it, your next car is waiting for you!

• 0 Comments

Refinancing cars is a relatively new financial wrinkle. Mortgage refinances are more the normal water cooler conversations, but auto refinances are available and they could potentially save you some big money. Auto refinances are particularly attractive for people whose credit has improved even if only a matter of 15-20 points depending on where you were on the FICO scale. If you were down around 580 and have moved up closer to 600, that difference represents a significant enough credit change all else being equal to benefit you with a refinance.
There are conditions that cover refinances in general like the following;

vehicle is from the past 7 model years, past 5 is better but some lenders will go out to 7
you owe less than the vehicle is worth, check this with on line price guides, check what you owe with your lender ask for the payoff figure.
You must be current with your payments and it’s better to have no late payments in the last 6 months

If you meet those basic conditions and the interest rate you are offered is at least 1-1.5% lower, you should consider the switch. Don’t look to your current lender to offer you a reduction in the interest percentage, you’ll need a new source like the LoanexFastCash.com where we have lenders who specialize in refinancing cars. The process works like this the new lender pays off the old lender and executes a new sales contract with a new interest rate and terms. Some lenders may offer an extension of the contract which can also lower your payment, just be aware that the total cost of the loan may be higher if you choose this option. The whole process generally takes less than a week to complete and may even carry the benefit of a month with no payment.
A word of warning, keep track of the transaction so that you don’t end up delinquent with the former lien holder while you’re awaiting the contract with the new one. For a smooth hassle-free transaction look to the LoanexFastCash.com for all your financial needs and services.

• 0 Comments

Have you finally come to the conclusion that managing your debt is a task that you can’t handle. You’re not alone! The number of bankruptcies in the country has soared in recent years and the economic meltdown of the last several years hasn’t helped, but if you don’t want to tread into the bankruptcy zone there are directions you can take.
Online debt consolidation companies exist which can assist you in dealing with your debt problems and keep you out of bankruptcy court. Online sources can also help you to find a non-profit debt counseling companies which can assist you and provide face to face conduct of your business if you find that arrangement more satisfactory.
Debt consolidation can be accomplished in a number of different ways, but two of the most common ones are debt consolidation loans, or negotiated debt payments made through a third party. In the first example a loan is applied for and taken out to pay the individuals debts off and the individual makes just one payment on the loan which is generally significantly lower than the sum of all the payments individually. These loans can often be secured by a person’s assets like their home or other valuables. The other form is carried out by a debt negotiator who arranges for extended terms and reduced interest rates in return for a regular monthly payment from a third party, usually the negotiator’s firm.
Whichever way you choose the benefit of debt consolidation is that it does not arry with it the sanctions of a bankruptcy which last for 7 years. Bankruptcy is an honorable way to discharge debt but should only be entered into after all other efforts less destructive to one’s financial future have been attempted. Whether you wish face to face contact or are comfortable on-line LoanexFastCash.com can be of help as we have debt consolidation companies of both types.
To get ready for the debt consolidation process, assemble all your outstanding debts and all your assets as you will need an accurate accounting for both debts and assets for the process to begin! Once you have put together your financial picture you are ready to begin, then it’s just a matter of filling out our simple form to access our debt consolidation professionals.

• 0 Comments

You need a car, you want a new one, what are you prepared to do to get it? The new car loan market place has opened it self to lower credit scores but there are some drawbacks to financing a new car with bad credit. Like? Interest rates which are averaging twice what a person with good credit would pay, for a start! Read the advice for car buyer blogs and you’ll often see columns about how to get a bad credit car loan, frequently they’ll only tell part of the truth. Can you get a car loan? Yes bad credit new auto loan interest rates are high and with the average new car cost around $28,000 a payment at the going poor credit rate of 13.1% will put you at $564/month even on a loan for 72 months.
Most bloggers will tell you to consider a used car, but if you are determined to get a new one, here are some things you can do to lower the interest rates and make that new car somewhat more affordable.

Get your credit report and check it over. Mistakes or errors? Start the process to get them corrected. This is a process you need to work out with both the creditor and the credit bureau.
Work on improving your damaged credit before you apply for that auto loan. Get current on your payments, pay off any small accounts you can, don’t apply for new credit. Remember the difference of a few points in your credit score can make a big difference in your payment.
Work on the loan before you choose the car. Car sales people can be very persuasive and you want to have your financing lined up before you go so that you know exactly what you can afford to spend.
Don’t let them sell you things you don’t really need. Oftentimes poor credit buyers are told that they need extended warranties, GAP insurance, glass etching. And the buyer, just happy to be approved agrees.

At the LoanexFastCash.com, we can help you get a car loan and guide you through the entire process. Our dealer lender network can help find that new or used car that’s just right for you!

• 0 Comments

Have you seen all the promotions about low interest rates on car loans?  It should make you wonder, are these rates lower than what my current auto loan interest rate is? Should I refinance?   Find your auto loan papers and see what interest rate you were charged. Then compare it to the current interest rates.  If the current rates are lower, there is a good chance you can refinance for lower payments.  You need to be prepared when auto refinancing.  Here is how to refinance your auto loan.

Find out what your credit score is.  You can do this for free by going on the internet.  The higher your credit score, the better position you will be in to negotiate a low interest rate and approval on your loan
If your credit score is below 680, you need to obtain a copy of your credit report.  Review this report to see if any of your credit history has been inaccurately reported.  If this is the case, call the Credit Bureau to straighten this out.  If you can take care of this before applying for a loan, it will look better.
To improve your credit score, you can pay down your debt.  The more debt you have, the less money is available for you to pay bills. This debt-to-income ratio is what banks look at when refinancing.  Sometimes it is worth paying down your current debt before obtaining refinancing.  You will look better to the lender.
Do research for the best interest rates.  Each lender is different which is why you need to shop around for the best rates and terms.  Check out the Loanstore.com.

Lastly, you need to ask yourself, why you are looking for auto refinance . Is it to lower your car payments? Maybe with lower interest rates, you can keep your same payments but shorten the length of the payments.  This may allow you to make another major purchase earlier than expected.  Or you might need extra cash and have equity in your car that you can borrow against.
Whatever reasons you have, you always need to be prepared when applying for a loan.  It is a good time to step back and really look at your finances.  Your financial future is important, so always take care of it!  Keep your credit score up and your debts down, then obtaining credit will never be a problem.

• 0 Comments

You can describe America’s recovery as anemic or glacial in its slowness, but the fact remains that we do seem to be in recovery. Daily articles in the media discuss the lack of consumer spending as starving the engine of economic recovery of the fuel it needs to grow and produce jobs. So, since plummeting home values seem to have ceased in much of the country and in fact modest improvements have been seen, is it time to tap the source that fed the boom that went bust? Cash out refinance mortgage and Home Equity Loans and HELOC fueled the economic fire and when that bubble burst many people found that they owed a good deal more than what their personal bank was worth! Do we want to go there again?
That depends I think, on your intentions. A loan fueled spending spree for luxury items, cruises or items that we want but don’t need, probably not. An education, more training to stay viable in your profession, home repairs or a sensible remodel, better. Still for many their home is no longer a source for money, they’re tapped out! They owe more than their home is worth and they may need to consider a refinance not to get cash out but to try to keep cash in (their pocket.) There are homeowners out there who didn’t suffer economic disaster when housing collapsed and those who had minimal or no down payments went “under water”, and if you have considered a cash-out refinance or a home equity loan, now maybe the time to do it. Interest rates are at all time lows and you may be able to not only get cash out but save money and or shorten your mortgage length as well. At LoanexFastCash.com we have lenders who are ready to lend to those who qualify. They are looking for the opportunity to serve you and make the whole process of a cash out refinance or a home equity loan a pleasant and professional experience.

• 0 Comments

There is great news for people who want to buy a new or used car!  The rates that the banks are paying for money has been lowered greatly and they are passing these savings on to you.  Auto loan rates have decreased and some lenders are extending the length of your payment schedule making it a prime time for you to finance a car.  This good news even applies to people with poor credit ratings.
Of course, if you are interested in buying a new or used vehicle, you still need to go through the basics.  This includes looking at your finances and deciding how much you can afford to pay a month and what is your down payment or trade in value.  Also, know what your credit score is.  This will determine the interest rate on your car loan.  The higher your credit score the lower your interest rate will be.  Here are some examples of interest rates, compared to credit scores and the payments on a loan of $20,000.  These are estimates.

Super Prime (740 or higher) – Average loan interest rate is 3.2% for new and 4.4% for a used car.  Monthly payment – $357.00
Prime (680-739) – Average loan interest rate is 4.5% for new and 6.4% for a used car. Monthly payment – $368.00
Nonprime (620-679) – Average loan interest rate is 6.5% for new and 9.5% for a used car.

Monthly payment – $386.00

Subprime (550-619) – Average loan interest rate is 9.9% for new and 14.4% for a used car.  Monthly payment – $419.00
Deep Subprime (549 or lower) – Average loan interest rate in 12.8% for new and 17.9 for a used car.  Monthly payment – $447.00

As you can see, the lower auto loan rates include people with lower credit scores.  Now you need to shop for the best rates.  If your credit score is Super prime or Prime, you will have many options for your financing.  If your credit score is below this, you need to shop around for the best interest rates.  At Loanstore.com, you will find a lender more than willing to help customers with lower credit scores.  They are your subprime auto lender.
So, get all your information together, do your research, get pre-qualified so you know what cars you can afford and your lender will finance.  Take advantage of these great lower auto interest rates!  Start driving that new car today!

• 0 Comments