Valentine’s Day Loans: Getting the Ring of her Dreams
With Valentine’s Day right around the corner, love is in the air and the thoughts of popping the question are on the minds of many couples. If the credit cards are maxed and finances look bleak, there are alternatives to getting money to help make Valentine’s Day a day she will never forget.
There’s nothing more romantic than a proposal on Valentine’s Day and to have a ring, or the means to get a ring after the proposal is a source of anxiety for many men. January’s credit card statements might be leaving a pit in the stomach and if there’s a bad credit rating then finances may not look too optimistic.
Women need not be the only recipient of engagement rings. There’s a growing movement of women who want to reciprocate to the proposal and purchase a ring for the husband-to-be. Perhaps finances are also looking dismal but there are options.
There are a couple of alternatives that make sense. Taking out a loan to create some breathing room on those credit cards and some extra cash for a ring, or taking out a loan strictly for the purposes of a ring are two ways to tackle this problem.
When shopping for an engagement ring, several jewelers will try to sell the notion that a ring should cost a certain percentage of a man’s wages. This gets a lot of men into serious financial trouble. Of course a jeweler’s main objective is profit. Finding a ring that won’t keep you in debt for decades is what really counts, and there are thousands of rings out there to choose from.
No need to worry about bad credit. Options are out there to obtain a loan that will help you create the ultimate Valentine’s Day. Loans such as car title loans are tailored specifically to those with bad credit or no credit. This type of loan is secured by the value of the borrower’s vehicle, and as a result of being secured, they are much quicker and easier to obtain than a typical loan.
Bad credit is a fact of life for many people for a myriad of reasons. No one intentionally sets out to destroy their credit rating, nor should they not have options available as a result. With a little research to find the right loan and the right lender for you financial situation, you can make that Valentine’s Day marriage proposal one your significant other won’t soon forget.
Loans to Improve Your Credit Rating in 2010
If you’re like thousands of others, last year was a bit of a financial disaster. Paying bills late, not making credit card payments on time, phone calls coming in reminding you to pay an account were common occurrences for so many people in 2009. As a result of these, credit ratings can take a beating.
You may be asking, just how important is a credit rating anyway? A credit rating is a legal track record of your financial responsibility. This record is housed at Equifax and TransUnion Canada and your record indicates if you are worthy of receiving credit. Landlords, utility companies and other businesses who ‘lend’ you something want to know just how responsible you are.
When you have poor credit it’s generally much more difficult to obtain a mortgage, a car, loans and even a cell phone. Poor credit can seriously hamper your ability to rent an apartment, appliances or furniture. Even those places that advertise ‘no money down and no payments til next year’ will not consider poor credit because when they say ‘OAC’, that means ‘on approved credit.’
It’s a new year and why not take the opportunity to do something to improve your credit rating? Take out a loan to help toward existing debts, making home improvements or to take a mini-vacation. It may sound crazy, but by getting a loan and making payments on time will help to re-establish your credit rating, and this is a good thing.
Many people may consider a loan to lower their credit card balances. Perhaps the thought of another monthly payment may sound overwhelming, but lowering those credit card balances also works in your favor to improve your credit rating. Many people may not realize this, but a credit card balance that exceeds 75% of the credit limit is frowned upon and is reflected negatively at Equifax and TransUnion Canada. If you have a card that’s maxed or coming close to being maxed, then lowering that balance is really important.
Getting a loan to improve your credit rating only makes sense. No matter what your credit rating is, there are options.
January Bill Blues
The holidays now seem like a distant memory but the stark reminder of all those fabulous gifts that were purchased is reality. Those credit card statements are a painful reminder that overspending can rapidly sink your financial well-being.
Life may look bleak with statements that leave you with no breathing room on any credit card. The fear of having no back-up funds in case of an emergency is now a brutal truth. It may not alleviate stress, but you are not alone. Thousands of credit card users have spent their cards to the max and are worried about how to create some breathing space.
Credit cards are a great thing until they’re maxed. Paying the minimum monthly payment will keep you in the credit company’s good books, but maintaining a balance that exceeds 75% of the allowable credit will tarnish your credit rating. There’s also the fact that paying only the minimum monthly payment on a maxed card will take you several years to bring down because generally, interest rates are exceedingly high.
If you’re able to pay more than the minimum monthly payment, then do it. However, if you’re like thousands of others, even the minimum payment is difficult to budget. Now is not the time to panic; it’s the time to stay calm and do your research on what options are available to you. It may not seem likely, but out of something negative is always something positive, you just have to look.
Now, more than ever, turning over a new leaf and taking charge of your financial health is a step in the right direction. Having the will and desire will start you off in the right direction.
Take a look to see if you can pay the minimum monthly payment. If this leaves a pit in the stomach, get on the phone and call the credit card companies. These companies can be flexible and are willing to work with you, not against you. Let them know you’re working on a plan, but you are able to make a token payment. Paying something is better than paying nothing. Ignoring a statement will only lead to these companies calling you, and ignoring those phone calls only worsen the situation. When times are tough, protect your credit rating always keep the lines of communication open with your creditors.
Now is the time to work out what money comes in monthly, and what money is required to pay the monthly bills. If there’s no way you can manage on your own then explore loan options to stay afloat. There are options and having a good credit rating is not required for some loans.
BHM Financial is a trusted name in the car title loan industry and we may have the cure to help get rid of the `bill blues.’ Check out our website today, and breathe easier tomorrow!