I Can't Get Credit

However, many people are not able to obtain a credit card due to various reasons. Those who have filed bankruptcy or have bad credit are the main group of individuals not able to obtain credit cards. Unfortunately, most people experience some sort of difficulty which results in a stained credit history. These people are now back on their feet and are financially able to take on the responsibility of a credit card. The credit grantors, however, simply look at their previous credit and are not willing to give these people the chance to prove themselves.

Do you fall into this group of people? If you want to obtain a credit card, you need to prove your credit worthiness to the lenders. The best way to do this is to obtain a secured credit card. You will be required to make a deposit first and then will be extended a line of credit based on a percentage of your deposit.

Get the credit you deserve today, not tomorrow!

I Can't Get A Loan

In any case where you are having trouble obtaining credit, we strongly suggest getting a copy of your credit report. There may be negative information on your credit report that you may not even know about which is preventing you from getting credit. If you do find negative information, then you will want to fix your credit report before submitting any credit application.

Unsecured loans are by far the most difficult form of credit to obtain. Unlike a mortgage, where the house is used as security, or a credit card, which usually involve low balances, loans usually range in the thousands of dollars with little or no security. Even car loans, although secured against the vehicle, are difficult to get, as the car will depreciate in value.

Lenders get overly edgy when it comes to consolidation loans since you will be using the money to pay off your existing debts. Too many people pay off their debts with a consolidation loan but then run up their credit cards leaving them in a worse situation than before. If you do get a consolidation loan, shut down your credit cards after you pay them off.

There do exist lenders who recognize that some people who have had credit problems in the past will not necessarily have them in the future. So long as you can show that your past problems will not come back to haunt you, you stand a chance with the following lenders:

I Can't Get A Mortgage

You applied for a mortgage at your local bank and you were declined because of your credit report. Just because one lender turned you down does not mean that all of them will turn you down. There are many lenders who will look at individuals with not so perfect credit. If you can provide an explanation for your financial problems and convince the lender that your problems are resolved and will not surface again in the future, you stand a good chance of obtaining a mortgage at a decent rate. If you cannot explain your credit problems, you may have to pay bit more for financing, but you can still get a mortgage. The key is to shop around and see what is possible.

Some lenders prey on consumers with not so perfect credit and simply take advantage of them. A lender has certain restrictions as follows:

Lenders must:

Consider reliable public assistance income in the same way as other income
Consider reliable income from part-time employment, Social Security, pensions, and investments
Consider reliable alimony, child support, or separate maintenance payments, if you choose to provide this information. A lender may ask you for proof that this income is received consistently.
If a co-signer is needed, accept someone other than your spouse. If you own the property with your spouse, he or she may be asked to sign documents allowing you to mortgage the property.

Lenders cannot:

Discourage you from applying for a mortgage or reject your application because of your race, national origin, religion, sex, marital status, age, or because you receive public assistance income.
Consider your race, national origin, or sex, although you will be asked to voluntarily disclose this information to help federal agencies enforce anti-discrimination laws. A creditor may consider your immigration status and whether you have the right to remain in the country long enough to repay the debt.
Impose different terms or conditions, such as a higher interest rate or larger down payment, on a loan based on your race, sex, or other prohibited factors.
Consider the racial composition of the neighborhood where you want to live. This also applies when the property is being appraised.
Ask about your plans for having a family. Questions about expenses related to your dependents are permitted.
Refuse to purchase a loan or set different terms or conditions for the loan purchase based on discriminatory factors.
Require a co-signer if you meet the lender's standards

Instead of applying to numerous places, why not submit one application to four lenders: