Line Of Credit
Obie gets loan, line of credit.(Business)(The Eugene advertising company will use it to retire debt and fund growth): An article from: The Register-Guard (Eugene, OR) [H] [T] [M]
(Digital) The Register Guard 2004-01-16
Release date: 2005-06-01
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Answers
How come on a Personal line of credit loan you get charged an apr and a periodic finance charge? Why not just get a credit card then? I dont get it.. I know credit card rates are high now but most times you can find credit cards with lower rates then my line of credit. someone please tell me the positives of have a line of credit loan...
A "line of credit" is nothing more than a pre-negotiated, pre-approved loan. It has a maximum value you can draw. You have no charges until you actually USE some or all of the available funds. What you pay for this convenience is that there is no grace period as there is with a credit card and interest accrues immediately. Unlike a credit card, there is no "approval" process needed or required. You write a "check" against the line of credit and it is honored automatically since you are pre-approved. A line of credit is a fallback to other forms of loans. In essence, when someone calls your bank about your "check" they are informed by the bank that your check is equivalent to a certified check with the full backing of the bank behind it. What you are paying for with the interest and such is the convenience, pure and simple.
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We are a registered Californian company, but are UK citizens living in California. The company is just over 1 year old. The purpose of the loan/business credit line is to purchase a small business.
The Tax ID is a good answer... but will this be usefull where someone needs a credit record? Or, for business finance, would our personal circumstances be relevant in any case?
you should have a tax number for the irs -- this is the number that you will use instead of a ssn!!!
my credit score is very low but i own a $75,000 house with no mortgage. i am looking for some kind of loan so i can do major repairs on my house but i keep getting turned down due to my credit. i have been at my job for almost ten years and make around $300.00 a week.
Wow, with a house that is cash you really should not have that much trouble. Amazing how banks are changing so rapidly.
Keep trying, but maybe ask banks for a 5 year mortgage for the amount you need. They don't advertise this, but banks DO offer short term mortgages, with fixed rates no games.
If you have time go to annualcreditreport.com
and fix anything that is incorrect or outdated if you haven't already done so. Things become outdated after 7 to 8 years.
Also get one credit card, and pay it in full each and ever month for top notch credit. Carrying a balance reduces credit.
Keep trying, there is no reason you should be getting turned down if your house has no mortgage. If you are asking for 20% value they should be throwing it at you.
Try a credit union.
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My husband passed away last year and I have medical bills and credit card bills that I can't pay, would like to know if I were to file bankruptcy can I include my home equity line of credit?
I am not looking for a loan, I was just wanting to know about my home equity loan and bankruptcy.My husband passed away and I am not working due to medical reasons and a have limited income. My father has been helping me but I can't expect his help forever.
Speak to a lawyer. However, a HELOC is a secured loan -secured by a lien on your home. I doubt that it can be discharged through BK.
We are looking for a $50,000 loan or credit line for our business. We have been around for almost two years and we have good collateral through real estate investing. We also have good personal credit. We have not applied before but now we would like to have access to reserves credit to pile cash. Should we look at some small local banks or a bigger bank for this?
Thanks
When we needed to open one of those for our business, we contacted our bank. They have all the info they need as they see how much money is coming and going out of your account each month & you've developed a relationship with them. Just be sure you check interest rates and terms - make sure they are at a fixed rate, and watch out for annual fees & service charges on cash advances - they can be pretty steep.
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Ways To Get A Personal Loan No Credit Check | Whalehook Loans
Can you get a personal loan no credit check required? Yes, there are a few ways to do this, but they may have higher interest rates or terms that you don’t particularly like. The first question that you need to ask yourself however, if why you don’t want them to check your credit. Many people have the wrong idea about their credit score and think that they have extremely poor credit when actually they have okay credit or borderline credit. When you need a loan or a line of credit you should always let the finance company check your credit first. Then, if you are denied, you are out nothing and can move on to other options.
For personal loans no credit check is hard to get from your bank or credit union. These type of companies require that your credit is checked before they will offer you money. As far as a bank or credit union goes, or pretty much any conventional finance company, an unsecured personal loan no credit check is far too risky of a proposition. However, there are some smaller companies that will do limited loans or loans with different terms for payoff with no credit check required. We’ll discuss a few of these in detail.
...News
Credit Counseling Debt Consolidation Does Affect Your CreditPR-inside.com (press release) - Dec 30, 2009
Air America (press release) (blog)A consolidation loan provides a line of credit to the consumer in which all their other unsecured debts can be transferred and combined for the convenience Save Money Using A "Clean" Credit CardTop 4 Tips for Credit Cardholders in 2010all 138 news articles »
Chicago Sun-Times - Dec 29, 2009
At the peak of the housing boom in 2006, banks made $430 billion in home equity loans and lines of credit, according to the trade publication Inside and more »Wall Street Journal - Dec 22, 2009
eCreditDaily.comMs. Smith depended on the line when clients failed to pay within 90 days. The bank expanded the line of credit year after year, leading her to believe that Banks plan to boost small business lendingBanking on Job Growthall 111 news articles »
NorthJersey.com - Dec 30, 2009
use the county's AAA credit rating to open what is essentially a line of credit at TD Bank. The program's promised 24-hour turnaround for loan approvalsChicago Sun-Times - Dec 26, 2009
MonitorBankRates.comRecord-low mortgage rates, but many can't refinanceThe lender might refuse to subordinate, or if you have a line of credit, the lender might come back and say they'll subordinate the loan -- but only if you Lack of mortgage backed securities buyers could cause 2010 mortgage rates hikeMortgage Rates: Current Mortgage Rates Back Above 5.00%all 97 news articles »
Philadelphia Inquirer - Dec 28, 2009
In anticipation of a refinancing on my home to pay for supplies, I charged my credit card a little more than $5000 for them. I hoped that the loan would go and more »The Guardian - Dec 29, 2009
Washington PostHowever, the bottomless line of credit for Fannie and Freddie could prove to be the biggest pot of gold of all. Fannie and Freddie both collapsed in Are Banks Scamming Fannie?VIEWPOINT: Treasury Updates GSE Support, and the Mainstream MisleadsFannie Mae and Freddie Mac: Just a Four-Letter Word?all 1,571 news articles »