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What Happened To Online Computer Financing? (Page 1 of 2)
You may have noticed that there are fewer online companies that offer guaranteed or bad credit computer financing programs.
About 3 years ago there were a number of lenders that were trying to make money by offering individuals with less than good credit, computer loans.
As time when on, the lenders started to see that most of there clients wasn’t paying off their loans.
A lot of online marketing companies believed that they could make a good income by finding the right lenders that would approve computer loans for people with poor credit.
This idea of offering computer loans to individuals that had poor credit worked for a few years.
Over time, more and more computer clients had stopped making payments on their computer systems.
Finally the computer financing companies decided to end all 100% financing programs for individuals that had no credit, poor credit or have filed for bankruptcy.
Over 90% of the companies that claim to offer bad credit computer financing are lying to the public. They cannot finance an individual with bad credit because there financing company will not approved that type of loan.
The reason why online computer financing websites are still taking applications is because they know that there is a chance that some of the individuals that are applying could have good credit.
They know that they can get the good credit individuals approved by there financing company.
YOU CAN STILL GET APPROVED TO FINANCE A COMPUTER WITH BAD CREDIT!
There are programs that still offer computer loans to individuals that have no credit, bad credit or have filed for bankruptcy.
These types of programs would normally require there client to have a checking or savings account and they may require the client to send in a down payment before they would deliver the computer system.
This type of program is one of the best methods for a person with bad credit to receive a new desktop or laptop computer system.
There are other programs that require the client to make a down payment and make a few weekly or monthly payments before they would deliver their computer system.
These programs are a little like the lay-a-way programs that were used by retail stores years ago. Many stores still use this type of financing options.
BAD CREDIT GUARANTEED COMPUTER FINANCING PROGRAMS
If you have any source of income, you can get approved to finance a new up-to-date desktop or laptop computer system.
You must have a checking or savings account and be willing to make a reasonable down payment.
This works for the lender because they are able to offset there lost a little if you decide to keep the computer without making your payments.
These types of computer financing programs will allow you to receive most of the new high speed desktop or laptop computer systems, even if you have no credit, bad credit, unemployed or have filed for bankruptcy.
5000 Bad Credit Loan
5000 Bad Credit Loans can be approved in a matter of hours, if you know what you are doing. The first thing you should know is that if you have no credit or bad credit, never apply for a loan with a conventional lender. Not only is it a waste of time, it will also make your credit worse than it is right now. All banks and credit unions are considered conventional lenders. Their loan programs are strictly designed for individuals with good to excellent credit. So if you have no credit or bad credit you don’t stand a chance of getting approved by any conventional lender, so don’t waste your time.
Search for lenders that offer bad credit loans or no credit check loans. If you talk to a lender by phone don’t be hesitant to tell the lender that you have no credit or bad credit. Tell the lender as much information as possible about your credit situation. This includes late payments, judgments or closed accounts. The more information you supply the lender, the better your chances of getting approved for a loan.
You need to have a copy of your credit report before you apply for loan. Oftentimes this will save you from getting too many checks on your credit report. The first thing that most lenders want to do is to pull your credit report. With your credit report at hand they will be no need for the lender to pull your credit report because most of the information they will need will be right in front of you. Keep in mind that every time a lender pulls your credit report, your credit rating will be reduced.
The amount of your loan is important. If you have really bad credit, it would be better for you to apply for the lease amount a the loan that is available with the lender. As you make your payments on time most lenders will increase your loan amount or give you a new loan down the road. Is important to develop a good payment history with as many lenders as possible. Most lenders will start you out with a loan in the amount of between $5,000 to $10,000. There are programs that go as high as $50,000, but in the real world of credit, you generally will not be offered a loan amount over $10,000 for your first loan request.
Bottom line is that you need to start out slow and only work with lenders that clearly state that they have loan programs for individuals that have no credit or bad credit.