Jul 22 2014

National Economic Headlines

Bad Credit Statistics for the United States

Millions of people in the United States have broken their debt promises over the past years. The number of loan defaulters is rising and alarming. Some of them have ended up into this situation after losing their jobs or taking more than what they can handle. The situation becomes worse if the defaults lack immediate financial relief as they are made to spend more on other things and live with a bad credit rating.

Bad Credit Statistics for the United States approximates that about 25% of Americans are now in the least creditworthy category. This category garners a rating of below 600 from FICO, a major arbiter of consumer credit. The percentage is quit larger as compared to only 15% before the recession in 2010. The statistics shows that only three out four Americans would be able to borrow money probably to make a major purchase. The government is however taking the necessary measures to make sure the number doesn’t rise. For instance, strict measures have been imposed on the easy credit to encourage Americans earn to maintain a lifestyle instead of borrowing money.

Get a Loan at Go Credit Financial

Money problems affect most of us and in those uncertain times everyone needs a little help putting together a decent financial package to get things running normal again. Anything from a small personal loan, quick cash loan or a car loan; whatever you need to get back on track, Go Credit Financial Loans for People With Bad Credit can put it together for you.

They understand how poor credit affects your qualification for a loan and they can assure you that they do look beyond first impressions, and take time to hear you out. Here’s what they offer:

· Cash advance loans/payday loans

Most people get low on cash at some point, usually at the most inconvenient time. If payday is a week away and you don’t have cash to fix up the car, a quick cash advance would be heaven-sent. Just fill out an online application and their people will review the application. You don’t need a perfect credit score to qualify for a quick cash loan. If approved, you will have the money within a few hours.

· Debt consolidation loans

Get a debt relief quote now from www.gocreditfinancial.com for free. Nobody will ask for your credit card information.

· Personal loans

Unlike payday loans, which are intended to get you to the next paycheck, personal loans allow you to access a larger sum of money, and yes your credit does determine the amount you qualify for. Basically, the higher your credit, the lower the interest rate is.
http://www.gocreditfinancial.com/personalloans.html

· Car loans

You can qualify for a car loan with a credit score below 700 but you will have to meet a number of additional qualifications first. The down payment you put up for the car will depend on the car’s value, and of course your credit. Keep in mind a larger down payment means low monthly payments.

At Go Credit Financial they try to get everyone the financial assistance they need to get their life back on track and that’s why they have a variety of programs to cater for different needs. Whether you’re looking for long term financing to help fulfill an important task, or simply need to get by the week, we can do either.

Fill up your application on their website and give them some time to look it over. You can send an application any time of day, seven days a week and if you’re concerned they might not agree with your plans for the money, don’t worry about that. Whether you plan to buy a car, take a vacation or redo your kitchen, it’s really not a problem with us.

How to Get Your Credit Started

It is likely that your credit history is a blank slate if you have never had a loan or credit. Your credit history is very important because it is used by lenders and creditors to decide whether to extend a loan or give you a credit card. But do you know how to get your credit started? Below are some tips that you may utilize.

Get a secured credit card- It provides assurance to your creditor that you will repay your debt. Its limit is usually the deposited security. You borrow money from the creditor every time you purchase something and you are obligated to repay the debt. Your credit score will be affected negatively or positively depending on how you use the card.

Charge for what you can afford to pay- Building credit should be demonstrated by your ability to pay your debts. Make sure you purchase items that you can afford to pay every month because your goal is to prove that you can manage debts.

Pay every month- It will help you maintain a good credit score since even a single late payment can damage your credit score.

Avoid numerous credit accounts- Each additional account is likely to take a small hit on your credit score. One credit card is enough to prove that you can keep the balance low and pay it on time every month.

Check your progress- This is usually after six months, and you can apply for unsecured credit card if you have a good credit score.

The Affects of Credit Card Use on U.S. Consumer Credit

U.S. consumer credit invariably surges in direct relation to the use of credit cards. As more companies are turning to mobile payment stations and cashless pay programs, consumer debt also increases. Surges such as these are often reflective almost entirely of revolving credit, which is a measurement of credit card use and the associated debt. Non-revolving credit is primarily comprised of car loans and student loans that are government-financed and in recent years, non-revolving debt has been responsible for the most significant surges in U.S. consumer credit, in spite of marked increases in mobile pay stations and the declining use of cash.

The benefits of having these increases be representative of non-revolving debt are manifold. This debt tends to be more manageable for most people and there is a sincere, general desire to pay it back down. It also shows, however, that many households are reticent to take on more credit card debt and that people are engaging in more cautious form of spending. Ultimately, people are buying more of what they need and less of what they want.

Where Top Access Unique Financing Opportunities for Immigrants

As an immigrant it can be hard for you to access financing opportunities as compared to the natives. Even if it is hard to access the financing opportunities you need to take your time and carry out enough research which will enable you access Unique Financing Opportunities for Immigrants which you will utilize. There are some companies which are known to allow immigrants access financing opportunities. They can be the best option for you to access finance but you need to choose carefully.

For you to land on the best company you need to take your time and take into consideration different factors before you approach the company. For instance, is the project in which you will like to invest your money viable? In case the project is viable, then you need to consider the interest rate at which you will be offered the loan. If possible go for a company that will offer you the best rates.

http://www.consumer.ftc.gov/