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Loans.net Announces Lending Programs to Improve Your Credit
Aug 08, 2013 (12:08 PM EDT)
MINNEAPOLIS, Aug. 8, 2013 /PRNewswire-iReach/ -- The economy has been in such a state in recent years that it is inevitable that bad credit become prevalent in society. Loans.net can help improve your credit with their lending products that are not reliant on credit scores for approval.
The problem, when it comes to improving credit, is the same as is historically the problem with making money. The old adage "It takes money to make money," would be just as true if you replaced the word "money" with the word "credit." As in "It takes credit to get credit." It is very difficult to convince most lenders to give credit to someone with poor credit, making it virtually impossible to improve credit.
Loans.net is intent on changing that with its many products designed to take credit out of the lending approval equation. One option offered is debt consolidation, allowing borrowers not only to build credit, but to pay off credit faster at the same time.
They maintain that, though it may sound strange to improve credit by taking out a loan, it actually can work. A debt consolidation loan allows for all or most debt to be paid with one monthly payment. Even with a higher interest rate, the amount saved in late fees incurred due to missing one of those many payments due each month typically more than makes up the difference. The end result is that total debt is paid off in much less time. This allows not only for current debt to disappear faster, but on time payments on this type of loan have a positive effect on the credit score, allowing you to improve your credit.
In addition, the unsecured personal loan option allows lenders without collateral or that do not meet traditional credit requirements to borrow money for emergencies, or to simply ward off being late on obligations, which can cause further damage their credit. Making payments on the unsecured loan on time will improve credit as well, making this option another "double whammy" for a poor credit offered to customers.
It can be difficult to improve your credit, but Loans.net is intent on changing that. The belief is there is no need for bad credit to haunt someone forever if they are now able to handle payments and obligations in a way that would improve and maintain an acceptable credit score. All that is needed to get back on track is one chance, and these programs are designed to do just that, offer a second chance.
For more information and to request a quote, visit Loans.net.
Media Contact: Yonni Rossa, Loans Network Ltd, (646) 257-4131, Yonni@loans.net
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SOURCE Loans Network Ltd