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5 Reasons to Get Unsecured Business Loan from Lending Club

5 Reasons to Get Unsecured Business Loan from Lending Club 5

With the current credit crunch, raising capital to start or expand a small business can be a real challenge. The bitter irony is that while interest rates are at historic lows, access to funding sources has all but dried up. As a result, many small companies have turned to business credit cards. While credit cards … Read more 5 Reasons to Get Unsecured Business Loan from Lending Club

Advantages and Disadvantages of Prepaid Debit Cards

Advantages and Disadvantages of Prepaid Debit Cards 9

Prepaid debit cards are becoming increasingly popular financial products. With a prepaid card, you load money onto an account associated with a card. The card works like a credit card in that you swipe at a terminal to make payment. However, unlike a credit card, you are using your own money when you use a … Read more Advantages and Disadvantages of Prepaid Debit Cards

Should You Pay Off Debt or Save for Retirement?

Should You Pay Off Debt or Save for Retirement? 15

We can all see the benefits of having a large retirement portfolio. If it’s big enough, it can provide you with a standard of living comparable to — or even higher than — the one that you have when you’re working. But let’s face it, not everyone will have a retirement portfolio that will be … Read more Should You Pay Off Debt or Save for Retirement?

Cross Collateralization: The Credit Union’s Dirty Little Secret

Cross Collateralization: The Credit Union's Dirty Little Secret 19

Imagine this scenario: You are ready to sell your car, that you now own free and clear, only to be told by your lender that you can’t until you pay off another unsecured loan you have with the same lender. In essence, you are being told that you are not through paying on your car, … Read more Cross Collateralization: The Credit Union’s Dirty Little Secret

The Difference Between Hard Pull and Soft Pull Credit Inquiries

Not too long ago, I switched to a different Internet provider. When I called to set up my account, the customer service rep asked for my Social Security number. I wondered why it was needed, and he told me that they would be checking my credit. “Is this going to be a hard pull?” I … Read more The Difference Between Hard Pull and Soft Pull Credit Inquiries

Borrowing Money from Lending Club and Prosper

Borrowing Money from Lending Club and Prosper 26

You might have noticed that banks aren’t lending as readily as they used to. The recent credit crisis and economic recession made it difficult to get an unsecured personal loan from your bank — even for a secured loan like a HELOC. The difficulty associated with obtain loans through traditional banks has contributed to an … Read more Borrowing Money from Lending Club and Prosper

The Pros and Cons of Making a Credit Card Balance Transfer

The Pros and Cons of Making a Credit Card Balance Transfer 31

I have discussed using balance transfer credit cards to help you reduce your debt more quickly. As such, I think it’s prudent to go over the advantages and disadvantages of using a balance transfer credit card and also how to make a balance transfer. Hopefully, this will help you better understand what is involved and … Read more The Pros and Cons of Making a Credit Card Balance Transfer

Starting Over by Declaring Personal Bankruptcy

Starting Over by Declaring Personal Bankruptcy 35

The recent recession hit many people hard. But it’s not only recession related issues, such as job loss, that can cause financial problems. A big medical emergency or accident can deplete your finances — even when you have health insurance. Divorce can also result in financial devastation. And, of course, sometimes we make huge money … Read more Starting Over by Declaring Personal Bankruptcy