Tag: Credit Situations

Where Can I Get A Loan With Bad Credit In Canada That Help Me In Fixing Credit While My Savings Grow?

Get guaranteed bad credit loans Canada through credit repair loan that will help you in fixing credit beside your savings grow. Rebuild your credit with no or bad credit in Canada. Re-establish credit from bankruptcy and consumer proposal.Today there are thousands of people in Canada who are suffering with poor credit situations and desperately searching online for bad credit loans Canada in a hope to get loan on best rates and terms. Most of the online lenders deal in high rates short terms loans that clearly means borrower can end up asking for a very bad credit loan after one in case he/she doesn’t afford it on first place. Although in such situation, secured loan option mostly works but for those who have some assets to pledge.

Your credit history is the major factor that determines not even interest rates but approval of your loan. A good credit rating is required to obtain lenders best rates for mortgage loans, personal loans, credit cards and other kinds of credit facilities. There is a significant difference between no credit history, also known as an un-established credit and bad credit history, but when applying for a loan, most of the lenders adversely treats both of these credit situations nearly same way. That’s why it’s important for all the borrowers to establish their creditability first before applying for loans and if you are suffering from bad credit situation then you have to re-establish your credit rating by fixing bad credit and improving your credit score. Can I get a loan with bad credit in Canada that helps me in fixing credit while my savings grow? Yes, through GIC Investment Loan, it offers value added options to people looking for bad credit loan in Canada; you can get a loan with bad credit through Credit Repair Loans that can turn your bad credit situation into good one while fixing credit and building up a savings account for you to secure your future.

Comparing available bad credit repair Canada options with the GIC Investment Loan that may help an individual in establishing and fixing credit:

As there are various types of financial help available in the market today that can fix your credit and prepare you to get bad credit loan Canada, but the most famous and widely used way to repair credit that people have been taken in the past is a secured credit card, it can help you in fixing credit and can remove your bad credit history to obtain a best rate loans in future but most of these cards holds high rates and demand cash “upfront” before receiving a secured credit card for you.

Can I get a loan with bad credit in Canada that helps me in fixing bad credit while my savings grow through secured credit cards? No, although a secured credit card can help rebuild bad credit but it will not provide you bad credit loan, in the past one of the only options to rebuild your credit was getting a secure credit card, what it basically do; it help you in demonstrating your perfect repayment history to all the major credit bureaus by involving your money and efforts with its assistance to work on at least two or more accounts for a certain time that may take two years or so. There are variety of financial institutes offering secured credit cards that you can easily get and use them to do the job like Home Trust’s , TD’s or else. But when we look at the reality of a bad credit borrower’s financial situation it felt that applying for a secured credit card to re-establish, re-build or repair credit profile seems to be another burden because these cards typically charge high interest rate and fees as they are secured and also require the borrower to come up with the cash “upfront” before receiving a credit card. Although, it will improve your credit score to obtain a loan but on high initial expenses that you have to wait and watch to come up with a status where you can apply for lenders fast approval on best rates in Canada.

GIC Investment Loans (Credit Repair Loans)

What is a GIC investment loan? Also known as GIC loan, GIC savings loan or Credit Repair loans! It’s a new concept of financial relief that has been introduced by LendIt Financial through GIC investment loan or best described as a credit repair loans, although it’s not a credit repair company but helping Canadians to build better financial future, what it asks borrowers to pay fix amount of regular and affordable monthly payments against its credit facility, these payments are then reported to the credit bureaus to help you in building and maintaining your perfect repayment history; if you follow, you will observe a noticeable improvement in your credit score in short span of time. Invest your loan in a secure GIC (Guaranteed Investment Certificate) today! No problem, if you have little or no credit, bad credit or even very bad credit history and or past critical issues like bankruptcy or a consumer proposal, it allows you to jumpstart your financial savings, earn interest on your investment while fixing and re-establishing your credit.

Can I get a loan with bad credit in Canada that helps me in fixing bad credit while my savings grow through GIC Investment Loans or credit repair loans? Yes, it not even provides loan for people with bad credit in Canada but also help fixing bad credit score with an intension to prepare such group of needy consumers either having new or critical credit history to apply and get best rates for all types of future financial credit requirements and loans like personal loan, home loan, car finance, credit cards, and other.

How Lendit GIC Investment Loan Works

  • Your loan is automatically invested into a GIC in your name.
  • Your investment is insured by the CDIC to keep your money safe.
  • Your repayment history is reported to credit bureaus to help building your credit rating.
  • Your loan interest rates are only 12.99% per annum, much lower than secured credit cards or bad credit card loans available in the market.
  • Your loan is offered with three options to fit your budget: $2,300, $3,200 or $5,500.
  • Your loan permits you to access cash during the term of your loan that based on the equity you’ve built up in your GIC.
  • You get full access to your GIC plus interest at the end of the loan term.
  • Moreover, Lendit GIC Loans are available even if you have not been discharged from bankruptcy or are still making payments under a consumer proposal.
“Based on your financial goals, you can choose a loan that’s right for your goals; save for a vacation, education, payoff debt, or put a down payment on a home. Lendit’s GIC Investment Loans currently offer, Credit Brite Loan for $2,300 on 3 years term, Credit Brite Loan Plus for $3,200 on 3 years term and Credit Brite Home Loan for $5,500 on 5 years term on affordable fixed monthly payments on amortization basis (GIC principal + interest you’ve earned during the term) to help you jumpstart your savings plan while you re-establish your credit history in a financially safe way.” It’s simple and easy to apply online and your approval can be obtained within 24 hours. For more information, terms & conditions and guidance you should visit the official website.Get LendIt Financial Credit Repair Loan Also Known As GIC Loan, GIC Investment Loan and Saving Loan, Helping Canadians build a better financial future.

Lendit Financial review has been written with an intention to help those individual require bad credit loans but facing no credit or poor credit situation. Where it not even provides affordable savings loan to borrowers having any type of credit history but also help them to establish and maintain their credit through the successful repayment of their loan. Fixing bad credit or establishing new credit will definitely improve creditability of an individual to enjoy all the future benefits as a good credit holder. Where providing comparison with the other credit repair Canada options available in the market today, is to highlight those special features that make it unique with the rest of others in the row. Either you may not have any credit history and looking for no credit loans like a new Canadian or may have been suffering from negative credit rating even like bankruptcy, and or making payments under your consumer proposal. This financial product can help you in providing you with reasonable loan amount for 3 to 5 years terms on affordable fixed monthly payments beside opening up a GIC investment account on your name will enhance your personal financial creditability to enjoy better financial future. You can get a loan with bad credit in Canada from Lendit Financial that will help you in fixing credit while your savings grow!

Role Of Bad Credit Personal Loan In Today’s Economy

With the present state of the global economy being what it is, most of the Canadians with the other developing nations are also finding themselves in bad credit situations. Demand of personal loan has increased money wise. This cash shortage may be due to difference between our earning and spending beside routine payment schedule on our previously taken personal loans, car loans, mortgages and credit card debts. Although Credit report mechanism is efficient in collecting data of our transactions but it is not programmed to tolerate to adjust anyone in the light of personal problems individually or economical problems as a whole because even delay in your single payment beside prompt payment history may announce you a bad creditor because lot of people having good payment record already have gone in a poor credit situation.

Although we are heading towards economical recovery, our last months stock market have shown a nice upward trend in relation to last several months beside job market is still under observation, savings and investments are not materializing, credit card users are expecting some more hard changes in near future. Perhaps first phase of economic recovery needs sacrificing of some of our needs and that an ordinary people have been going through.

What if some one needs a fast credit if an emergency arises? General banks will not compensate your loan request if you have crossed your debt to income ratio according to their policy and asking for a short term loan till your next pay check and people with bad credit aren’t likely to be approved for a banking loan. The good news is that you are not alone here looking to remove your financial worries without any option of hope. Instead, look for a private lender that will grant you a loan, you will find secure and unsecured credit both.

Short term and low amount of credit need like a payday loan or cash advance is granted looking at your regular job and its unsecured in nature and if you are looking for a longer term with more cash requirement then you could get a secured loan based upon collateral.

Moreover, if you presently have bad credit, taking out a new loan might not seem too wise and there is really no such thing as a quick credit fix. Unfortunately, credit don’t take only months but sometimes years to repair that only require your persistence approach towards your commitment.

Rising Jobless Rate May Lead To Poor Credit Situations

In fact we are living in two big different classes of standard in relation to wealth, poor and rich. If part of the people are talking about they are heading towards cash shortfall then other part is unaware of any situation in which they ever felt their dream have any difference with the reality. Anyway, it all depends on the availability of wealth, power, inheritance, opportunity and luck.

Moreover, in between two extreme wealth based classes from poor to rich there is always one more class which automatically build up and its size depends on our education and experiences but it may have a bigger size than other two and it is known as middle class. These are over sensitive, law binding and very careful people and every bad or good happening directly effects their behavior, this make our society extra sensitive to make stories and news on it on daily bases like we are all going through today’s financially critical time that have frozen down majority of our investments which don’t effect any physical profit or loss but mostly these kind of people mentally feeling benefits and losses.

Today’s news which mostly taking every ones attraction in Canada is about the threat being jobless, its been critical point because this factor initiate our basic livings. Most of the people with whom I met in last few weeks no one was jobless but were having threat being one. How this kind of thinking makes some productive decisions which could make our economist to the point where they cant even get the answer with such economic downturn to compare with the productivity. I will disclose it at the bottom of the article.

Canada’s unemployment rate is expected to be in the range of 7 percent plus in May although in April it rose to 7.5 percent, from the 7.3 percent seen in March. Economists say about 55,000 jobs were likely lost in first quarter, but some say the damage could be double that number. Moreover, according to Statistics Canada first three months of 2009 saw the steepest economic decline since the Second World War; beside economists also believe that it will be improved in the second quarter. Is not it confusing on one side we are breaking a record and comparing it with world war II and other side we expect an aggressive change. Although, it will recover soon but it will take few time to come back to where it was before in the good economic time and then we can expect further record breaking positive changes which could compare with the world.

You can say that year 2008 to 2010 period is record-breaking years in which we have expected to lose so much in a short span of time, which took a long way to build. Consumers will be facing problems with their reinvestment while increasing household debt, bad credit situations and as well, the ratio of individual debt to personal disposable income will rise in both years, implying more borrowing or less money to pay the interest and the principle.

Canadians will declare substantial increase in consumer insolvencies and personal bankruptcy over the next two years in record numbers, economists said that as many as 160,000 people will walk away from their bills because of high unemployment and too much existing debt. That means the current individual bankruptcy rate of 4.3 per 1,000 people already four times as high as the one per 1,000 level in the 1980s will grow to a peak rate of almost six debt filings per 1,000 people this year and into 2010.

There is no doubt; this kind of financial atmosphere will be expecting to deliver more and more shocking news and reports from multiple resources, beside these all critical things one should not forget you are not being alone with the financial problems but you are offered substantial relief from the government fiscal programs and other private offers that you have to make an eye on it, moreover, you are already offered a substantial up size unemployment relief in the last budget.

Anyways, it’s going on all over the globe and we are still lucky because we are part of developed nations where we could get single equation to solve the problem. What time is asking to do, is to adopt a way in which you could improve your value and believe me what we are loosing today we could get more than that in tomorrow when it all will get to normal. Improve your skills and knowledge and the best way is to get further education, and if its offered in some reduced, discounted and grant form of offering then its good in less we could get more. Although this offering will not benefit all of us then at least there could be one person in our household that could benefit with this program.

Canada Study Grant is offered for students from low-income families and high-need part-time students! This grant is available to first-time students enrolled in their first year at any designated post-secondary educational institution, in at least a two-year program that leads to a certificate, diploma or degree. It covers one half of tuition costs, up to a maximum of $3,000. Canada Study Grants do not have to be repaid, but are considered taxable income. Eligibility is automatically considered when you apply for a full-time student loan; you do not need to complete any other paperwork to apply. If you are a resident of Nunavut, the Northwest Territories or Quebec, contact your Student Assistance Office for information about the financial assistance programs, grants, or bursaries for which your are eligible.

Moreover, rising jobless rate don’t seem to be effected on the immigration policy. This year’s target continues stand without any change at 265,000 new permanent residents includes up to 156,600 immigrants in the economic category, 71,000 in the family category and 37,400 in the humanitarian category. This openly states that we are still in need of some more demanding career and skill. According to Immigration Minister Jason Kenney who made clear his preference is to stick with the target, calling new immigrants the “fuel” of the economy, once it turns around. And if you have ability to fulfill demand required then you would be an ideal and more economic alternate.

Indeed it has become difficult to manage our personal finances efficiently, we have become so much confused to adjust our credit cards and personal loan payments and we don’t afford another loan to adjust these in such an unpredictable situation. We are also stuck in a situation either its feasible to adopt a debt consolidation and or debt settlement because we all have different kinds of problems and situations. Anyways, most favorite thing which market is showing up even in presence of massive output fall-off is adopting a productive approach while getting a productive credit like mortgage. This is more sensible choice, which reflects from latest housing report from Canada Mortgage and Housing Corporation that showed starts surprisingly rose by 13.7 per cent in March over the previous month. Availability of Low interest rates along with the lower prices for real estate definitely a solid factor to slid this up but it is also pointing towards the general people’s commitments to improve quality of life as a unit that will when combine with the economical development at whole will result in improving conditions for all.

University of Maryland economist Peter Morici says “the United Sates is headed for a depression, adding that whichever way the U.S. goes, Canada is sure to follow.”
If I believe Peter then I can have at least the Viagra’s free for the whole year in Canada! Pfizer, the world’s biggest drug-maker offers prescription program in providing more than 70 of its prescription drugs at no cost to unemployed people in America who have lost their jobs and health insurance keep taking their Pfizer medications such as Lipitor — for free, and for up to a year. Will this Pfizer is extending its offer to the Canadian market that will benefit peoples with out work?.. 🙂

Turbo Tax Canada is #1 Best Selling Tax Software in Canada!

Refresh Financial Canada
Save Money, Build Credit and Change Your Financial Future in Canada!

Canada Auto Finance - Canada Car Loans Get Approved For a Car, Truck, SUV or Minivan Loan at Canada Auto Finance Today!

Canadian Best Mortgage Rates
Compare Canadian Mortgage Rates From Banks and The Top Brokers Free!

Canada Foreclosures and Bank-Owned Homes at Massive Discounts
Canada Foreclosures and Bank-Owned Homes at Massive Discounts!

Meet Christian Singles!
Pay down your debt! These no annual fee credit cards can help you in reducing your credit card debt. Compare and find the best MBNA Canada credit cards of your choice:
MBNA Platinum Plus MasterCard
MBNA TrueLine MasterCard

  • Archives

  • Copyright © 1996-2010 eLoan Canada. All rights reserved.
    © eLoan Canada | Bad Credit Personal Loan Canada | Car Loan Canada | Free Stuff Canada
    iDream theme by Templates Next | Powered by WordPress