Picking a reliable personal loan lender

Borrowing money is a normal activity that everyone must experience occasionally. Through borrowing, you’ll know the sharpness of your negotiation skills, and you’ll also be aware of who can help you out. While you can borrow from your friends and relatives, it’s not always the best option because of relationship ties. Why not pick the ones who are really focused on transactional lending? To save your time, you should send your application to an official personal loan lender


Here are the advantages of picking a reliable personal loan lender:


Quick Transaction


Most online lenders today allow quick application processes. Once you’ve applied for the loan, you can get the result within an hour or probably less. Since there’s no credit check involved, modern loan transactions have become faster than ever. But to make your application faster and more successful, you must ensure that all of your requirements are complete. Typically, lenders will just ask for your IDs and government documents. Other requirements include asset documents and billing statements.


Simply Business


Binding ties can be a real problem if you’re borrowing money from friends and relatives. If you fail to repay, you’re already a bar person. For the lender, everything is business. Failure to repay means that you will incur penalties. Plus, you’d have a harder time reapplying for a new loan. There are no relationship ties that will stress you out – everything is, simply, business.


Amount Flexibility


While you may have borrowed once or twice from your friends and family, repeating it is a bit difficult. These people may think that you don’t have other income sources or you’re just a freeloader. Additionally, you can’t request for huge amounts – you’re at the mercy of their wallets or bank accounts. If you approach a moneylender, on the other hand, there’s a chance that you can get a big amount. It all depends on your status with the lender. If you’re a good payer, then the lender will release a huge loan amount for you. But if you’re just a new borrower, don’t set your expectations too high. It also helps if you have supplementary documents or assets. This way, the lender will know that you’re credible and you’ll be allowed for a higher loan.


Once you found a reliable personal loan lender, you can now proceed to the application. However, you need to bear in mind that a personal loan is a responsibility. If you cannot repay the loan on time, you’ll face penalties and other subsequent fees. To avoid this, make a repayment plan and adjust your finances efficiently.


Different kinds of loans that you should check out

Many experts believe that 2018 is set for great things. Technology is expected to reach astounding levels, and financial institutions are bound to grow significantly as well. Additionally, the lending sector can also offer tons of advantages for all borrowers. If you think that you might need money for 2018, you should check out these following loans:


Short-Term Personal Loans


In the past years, the nature of personal loans changed for the better. Lenders have found ways to modify loans in order to fit the preferences of borrowers. Variable personal loans are best for everyone as long as they have the means to repay. These loans might have lower interest rates, adjustable fees, and even scalable repayment terms. As a borrower, you can also pick the term that you want.


Variable Quick Cash Loans


While quick cash loans are considered similar to personal loans, they are a bit different. Just like their namesake, these loans can be released in just few hours. Application is also a breeze because you don’t have to worry about your credit score. As long as you have the proper requirements, you can never go wrong with quick cash loans. These loans are also great for emergency situations. Keep in mind that these loans shouldn’t be taken lightly. Their rates may be low, but they have huge penalties if ever you failed to repay properly.


Home Loans


Based on numerous studies, the modern employee thinks about the future of his home. Such collective idea gave way to the rise of modern unsecured home loans. Since these loans are unsecured, you don’t have to worry about collateral. However, these loans have lower ceiling compared to secured home loans. If you want to apply for this type of home loan, be sure to weigh your options properly.


Vacation Loans


As society continues to grow, stress factors will always accompany it. The best neutralizer for stress is a vacation. But what if you don’t have enough money to have a vacation? This is where a modern travel loan enters the frame. Travel loans are typically offered to employees because they have the capabilities for repayment. You may also be entitled to numerous perks and privileges once you’ve applied for a travel or vacation loan.


With the aforementioned loans for 2018, you’ll have reliable financial options handy. Before borrowing any of the mentioned cash loans, make sure that you have the financial capabilities to repay. Penalties can hit you really hard, especially if you’re on the process of building your savings. Borrow wisely and you won’t have any crippling financial issues later on.

What is a credit card and a short-term loan

Credit cards and short-term personal loans are common topics in lending circles nowadays. These debt tools are popular choices among many borrowers because they can be used for various reasons. A credit card lets you draw ‘virtual cash’ and enjoy several privileges, but the penalty for non-repayment is often too high. A short-term personal loan, on the other hand, is very convenient and can be used for financial emergencies. If you want to choose between a credit card and a short-term loan, here are some factors that you have to know:


Application Process


It’s undeniable that short-term personal loan application is ten times easier than credit card processes. Short-term applications can usually be finished within a day, and you’ll get your money quickly. Credit cards, even though they’re frequently offered by persistent agents, may take a while before you can gain real benefits. Also, if your credit rating is not at par with the company’s measuring stick, your application will be denied. If you need money fast, personal loans are better options.




For requirements, short-term loans win the round. Short-term loan lenders typically ask for IDs, government documents, income statements, and employment certificates. Other than those, nothing might follow. Credit card companies and banks will ask you for tons of requirements. They may require additional pictures and documents – on top of interviews. So, if you’re applying for credit cards, you need to be very patient.


Inherent Value


If you’re going to compare the value of short-term loans and credit cards, the latter will win by a margin. Credit cards are powerful debt instruments that can bring numerous advantages if used properly. You can even use a credit card to finance an investment or boost your credit score. Short-term personal loans are meant for short-term purposes only. Once you’ve paid off the loan, there will be no more benefits or advantages because the deal is complete. Don’t worry though – you can always reapply for a short-term personal loan if you’re a good payer. And you can even use your short-term personal loan for a side hustle or business idea.


While getting a credit card is not a bad thing, you should juggle your options properly. A credit card can bind you to a year-long agreement, while a short-term loan takes only few months. Even though these debt tools are different, they have one common truth: they must be repaid within the agreed time. Otherwise, you’ll face huge penalties.

Important factors about joint loans

In this modern period, many couples are taking out joint loans. While you can freely borrow a joint personal loan, it’s a serious step. What if one partner bails out of the loan before its maturity? Then you’re left with a loan that’s racking interest over time! Keep in mind that a join loan is a ‘joint responsibility’ that must be taken with utter seriousness.


Check out these important factors about joint loans:


The Joint Loan Process


By signing a loan agreement with someone else, you’re each agreeing to pay off the whole debt if the other can’t settle. This is ‘joint and several liability’, and you probably heard about the co-maker/co-guarantor policy. It doesn’t matter who spent the money, or who now owns the item or items you bought with the joint loan or overdraft. Take note that it doesn’t make a difference whether you’re married, in a civil partnership or even if you’re not in a relationship at all.


For example: If your husband, wife or partner dies, you will still need to repay any joint loan. If you break up with your boyfriend or girlfriend, the debt will still remain under your name. Collectors might approach you or your guarantor, depending on who they can reach first. So if the other person doesn’t pay up, you could end up with a lot of debt on your hands.


Credit Card Policy


While companies are strict, you and your partner can still take out a credit card. Upon doing that, both of you can still take separate cards as well. The main cardholder will usually sign the agreement. This means that he/she is responsible for paying the debt in full, but this doesn’t take the burden off your shoulders. Creditors will still hound you, and they will still demand specific amounts. It’s advisable that you pick the credit card wisely. Some cards have high monthly rates and can greatly pin you down.


All About Credit Boost


Applying jointly for a loan can sometimes boost your credit score. However, you should definitely avoid applying together if one of you has a poor credit rating. The poor credit score will drag down a guarantor’s own score, thus affecting the overall value of the loan. Once you have a joint debt with someone, your credit file will be linked to theirs. This means that if you want to apply for a loan in your own name in the future, the lender would be able to see the other person’s credit history and take that into account as well as your own. It’s a good idea for both of you to check your credit rating before taking out any joint credit.


Joint loans are great options if you’re starting out a life with someone or you’re planning for a project. Just make sure that you have a strong relationship with your co-guarantor. Trust is very important here because money is at risk.

Basic strategies on how to save money

Saving money is not an easy feat – it requires a tremendous sense of discipline, as well as sheer consistency. More often than not, we usually spend more money rather than saving for a rainy day. For many people, saving money is a very big pill to swallow. If you’re serious about saving money, you must keep in mind that small changes will matter a lot. These small changes will help improve your financial stance.


Here are some basic strategies on how to save money:


Smartphone Saving Apps


Your smartphone is a powerful gadget that can link you up with dozens of saving apps. In an app store, simply type “grocery list” and download the first grocery list app that catches your eye. This app is one of the many apps that you can use to help you save money. The shopping list app will help you itemize your grocery so you can focus on items that you actually need.


Constant Negotiations


It might take more than five minutes to get through to a CSR rep but you should pick up the phone right now and call your cable and/or internet provider. When you get to the menu or the operator, say that you’d like to cancel your service. Advise the representative that you just can’t afford the current rate and ask if there’s anything they can do for you, because the alternative is that you’ll have to cancel your service. Perhaps they can’t do anything for you, but there’s a good chance that they can. If you had an introductory rate that recently expired, you should at least be able to get the lower rate back. If you do it right, one phone call can shave off huge expenses from your monthly budget.


Home Supply Checks


If you do a lot of accounting on your home supplies, you’ll recognize the discrepancy – unless you are so meticulous that no details are lost. So, it’s very important to maintain a full accounting of your home supplies. Determine the ones that you frequently need, and figure out if you can save money by prioritizing which supplies really matter. You probably need to log your supplies in a spreadsheet or a small organizer. This will keep your financial planning highly efficient.


Once you’ve applied the strategies mentioned above, you’ll be few steps closer towards financial independence. The path won’t be easy, but it will steel your resolve. After few years, you’ll become a real financial hustler who can easily manage debts.