Welcome To Personal Loan Safety
You're preparing for an expensive education, car purchase, wedding, or vacation. You may just need a quick personal loan to bridge the gap between paychecks. Whatever your circumstance, Personal Loan Safety wants to make sure that you have a positive experience and that your concerns are tended to!
Throughout the next few weeks we'll share a variety of Personal Loan Safety Tips on every little thing from how to avoid loan scams to how you can dress up your credit report in order to appeal to potential creditors.
Personal Loan Safety will cover all the details you ought to know in order to protect your interests as a consumer.
Click Here To Add Personal Loan Safety To Your Own Lensroll
Throughout the next few weeks we'll share a variety of Personal Loan Safety Tips on every little thing from how to avoid loan scams to how you can dress up your credit report in order to appeal to potential creditors.
Personal Loan Safety will cover all the details you ought to know in order to protect your interests as a consumer.
Click Here To Add Personal Loan Safety To Your Own Lensroll
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Quick Links To Personal Loan Safety
- Loan Scams
- You can avoid loan scams and lender fraud if you take appropriate precautions and get informed about the tell tale signs of such fradulent activity. LoanSafety can help you get wise to these con artists.
- Bad Credit
- Bad credit can be a roadblock to getting a personal loan with favorable terms. This webpage shares some information that can help you make the most of your situation.
- Home Equity Loans
- By taking advantage of home equity loans you can benefit from more favorable loan terms than other types of loans. This page provides some important information you should consider.
- Questions To Ask Lenders
- Here are some questions you need to ask lenders before making any type of commitment on a personal loan.
- Secured Personal Loans
- LoanSafety. Get secured personal loans including cash advance and debt consolidation with the peace of mind that you are receiving offers from legitimate loan sources.
- Federal Trade Commission
- LoanSafety provides the information and resources you need to protect yourself against unfair personal loan practices. Our lenders comply with all statutes of the Federal Trade Commission and will try hard to get you the best loan possible.
- Personal Loan
- LoanSafety has a personal loan for you. Our loans include unsecured, secured, cash advance, and debt consolidation.
- Unsecured Personal Loans
- LoanSafety. Get unsecured personal loans including cash advance and debt consolidation with the peace of mind that you are receiving offers from legitimate loan sources.
- Uses for Personal Loans
- LoanSafety. Get personal loans including unsecured, secured, cash advance, and debt consolidation with the peace of mind that you are receiving offers from legitimate loan sources.
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Avoid 419 Personal Loan Fraud
If a person impersonating a loan officer asks you for fees in advance, it's a scam artist trying to steal your hard-earned money through predatory lending. This type of loan scam is known as 419 Personal Loan Fraud internationally, and it is very dangerous to your financial security as well as detrimental to your identity protection. The slippery pretenders often garner so much personal data that vicims become vulnerable to identity theft as well.
419 Personal Loan Scams frequently use these common tactics:
FACT: The number "419" refers to the article of the Nigerian Criminal Code dealing with fraud.
419 Personal Loan Scams frequently use these common tactics:
- A business or individual receives a fax or an email from a so-called "official" speaking for a foreign agency or government.
- A proposal is made to wire you a million dollars or more into your checking or savings account.
- You're urged to journey abroad to complete a monetary exchange.
- You're asked to send blank business letterheads, bank account info, phone numbers.
- You get lots of documents bearing official-looking stamps, logos, and seals reassuring you that the proposal is an authentic offer.
- At some point you're required to pay a significant amount of money in advance for various taxation, attorney's fees, application fees or bribery.
- Other types of the 419 personal loan scam include: COD of services or goods, real estate ventures, the purchase of petroleum at discounted prices, heir or heiress in a will, awardee to a large cash prize or other reward, and foreign money conversion.
The 419 Scam and You
Amazon Price: $29.00 (as of 12/31/2009) 
THE NIGERIAN 419 SCAMS, A DISGRACE TO WESTERN CIVILIZATION
Amazon Price: $19.99 (as of 12/31/2009)
419 Scam: Exploits of the Nigerian Con Man
Amazon Price: $13.45 (as of 12/31/2009)
Here's my favorite link:
Risks of Co-signing a Personal Loan
What if a relative or friend asks you to co-sign(guaranty) a personal loan? Prior to answering, be certain you understand what guarantying a loan entails. By law, lenders must provide you a co-signer's notice that defines your duty as co-signer. The notice reads as follows:You have been asked to guaranty this debt. Before doing so, think carefully. In the event the borrower defaults, you must repay this debt. Make sure you will be able to pay in the event you are required to... You might be required to repay up to the entire amount of this debt in the event the borrower fails to pay. You might also be required to pay past due fees or collection agency expenses, which add to this debt amount.
Don't turn a blind eye to the precautions in this notice. Studies show that at least 75% of co-signers are actually asked to pay back on the loan they helped get approved. When you agree to guaranty, or co-sign, you are putting yourself in a position that professional lenders find to be too risky. If in fact the applicant satisfied the requirements, the lenders wouldn't need the debt to be co-signed.
In the majority of states, if your relative or friend defaults after you've co-signed, the creditor can instantly collect the debt using the same methods used against your relative or friend without pursuing them first. Additionally, the debt owed from you may increase - because of past due fees or because of attorney's fees - if your creditor files suit to make collections. In the event the creditor wins, your income could be garnished and your property could be seized.
In spite of the riskiness, there might be instances when you'll feel a need to co-sign. Your son or daughter might need a loan for the first time, or someone else close to you might need your help. Prior to co-signing, consider the following information:
- Make sure you are able to repay the loan. In the event you get asked to bear the cost of the loan and you cannot, you may be dragged into court or you may suffer damage to your credit.
- Whether you're asked to pay back the loan or not, the liability you've adopted by co-signing the loan agreement might hinder your efforts to get new credit for yourself because lenders will see the co-signed debt as an additional obligation on your profile.
- Get written consent from the creditor that he/she will alert you in the event a payment is missed. That'll buy you the time you need to work out the situation or pay arrears without needing to pay back the full balance immediately.
- Refer to your local ordinances for more on your rights as a co-signer.
Personal Loan Safety: Check Your Credit Report
Personal Loan Safety recommends that you review your credit report regularly because of one important reason: The factors in your credit report help potential creditors determine if they'll extend you a personal loan, and what the terms will be!To increase your odds of qualifying for a personal loan with favorable repayment terms, be sure all the information in your credit report is correct, current, and complete prior to applying for the personal loan. Also, you may dispute outdated items or mistakes on your consumer credit report, and in doings so request that they be either corrected or removed as well.
Little Known Fact: When a negative item cannot be excluded from your credit report, you're allowed to include a one hundred word explanation with it, for life. Everyone who receives your credit report will view the explanation.
The Federal Fair Credit Reporting Act - Download Exclusive Audio
The FCRA promotes privacy, fairness, and accuracy of data in all files from credit bureaus. There are a wide variety of credit bureaus, including specialty agencies and consumer reporting agencies. Here's a comprehensive overview your legal entitlements under the FCRA.
30 Ways To Use A Personal Loan
1. Debt Consolidation
You can use a personal loan to consolidate your debts at a lower rate of interest than your credit cards charge.
2. Car Purchase
Many times having a car is a necessity. A personal loan can provide you the necessary amount you need to buy a new or used car.
3. Special Vacation
From time to time a special vacation may be financed with a personal loan, giving you long term savings compared to if you used a credit card.
4. Wedding
The average wedding costs about $30,000. Many couples or parents obtain a personal loan in order to finance the event.
5. New Kitchen
If you feel you need to extend your kitchen or add a new one, then the full cost of the home renovation may be satisfied by a personal loan.
6. Latest Cellphone
Many people want to have quality cellphone. By taking out a personal loan you can be the first one on the block with the latest cellular phone on the market.
7. Second Honeymoon
If you and your spouse are fortunate enough to both be free for a second honeymoon, but not so free financially to pay for the full cost of it, then you may consider acquiring a personal loan to deal with the expense of your getaway.
8. New Flat Screen TV
There's no doubting the fact that flat screen TV's are expensive, but a number of benefits like picture clarity, energy effieciency, and space savings make them a wise investment to obtain a personal loan for.
9. Improve Credit Rating
Personal loans can be obtained even by those with poor credit. By receiving a personal loan, then quickly paying it off you can improve your credit score.
10. Childbirth
Being responsible for another life isn't easy, and it's not cheap either. A personal loan can give you the extra resources you need to build a comfortable existence around your little one.
11. New Carpets
Carpet sold "per square foot" often adds up to be very expensive. Therefore, if you want to make your house more colorful, comfortable, and cozy, a personal loan may be a viable aid to your goals.
12. A Mirowave
Many people use microwaves as a sole or primary means of cooking their food in today's culture. If you do, you may find it practical to obtain a personal loan in order to feed you family.
13. Relocating
Relocating is expensive. Equipping yourself with funds from a personal loan can help you face potential unexpected costs or roadblocks associated with your big move.
14. Business Start-up Capital
If you're unable to realize your dream of owning your own business due to financial instability, taking out a personal loan can offer you the opportunity to open the business you've envisioned.
15. DVD Player
DVD players offer distortion-free, crystal-clear image and sound emissions. If you don't have the pocket full to purchase a DVD player, you may use the funds from a personal loan to delight your family with this device.
16. Latest Laptop
The portability and immediacy of a laptop computer may be invaluable to your student, work, or home life. Getting a laptop via a personal loan can help you get your assignments and research completed when accessing a desktop computer is impossible or impractical.
17. Job Loss
If you've been laid off and your boss hasn't given you an adequate severance pay, you can use a personal loan to help soften the blow of your job loss.
18. New Hi-fi Equipment
If your an audiophile and you prefer the very best in sound and image reproduction, then a personal loan may be used to supply you with the funds to purchase the newest high-quality hi-fi equipment.
19. New Bathroom
Bathrooms are considered an important room that actually reflects a family's lifestyle. Using a personal loan can help you establish a tasteful look in the bathroom you need created or renovated.
20. Pay For Utilities
Public utilities, such as gas, electricity, cable, water, and a phone line are significant costs to owning a home. If you find yourself coming up too short to pay your utility bills, a personal loan can assist you with keeping your house a comfortable place to live in.
21. School Trips
If your child's school isn't big on fundraising, you'll have to pay for field trips out of pocket. A personal loan can be used during difficult financial times to ensure your child isn't left out.
22. Cosmetic Surgery
Cosmetic surgery is very expensive. If you're dissatisfied with the form/function of some part of your body, a personal loan can help you remodel this body part to your liking.
23. Season Bank Account
Having seasoned funds in your bank account everyday can get you other terrific loans. You can use funds from a personal loan in order to have extra cash just sitting in your own name.
24. Down Payments
Down payments are one of the most difficult obstacles to overcome for home buyers. Using a personal loan is one approach to resolving this matter.
25. Education
If you or your child will be going to college, you'll need to pay for books, tuition, travel, entertainment, and accommodation. All these scholastic related expenses may be taken care of with help from a personal loan for the student.
26. Jewelry
Jewelry is a commodity that can last very long for the money. If you've taken a shine to something shiny, a personal loan can help you make it yours.
27. Car Repair
If your car has broken down and you don't have a rainy day fund to fall back on, a personal loan may be obtained in order to finance your car repair.
28. Christmas
If you think Christmas will break your budget, a personal loan can give you the leeway you need to celebrate the occasion without needing to sell a kidney.
29. Braces
Braces can cost from $5000 to $9000 per apparatus. Using a personal loan can make financing these fixtures less of an inconvenience.
30. Funerals
None of us anticipates needing to attend a funeral. But if a loved one in your family unfortunately passes away, funds from a personal loan can help you met the high cost of arranging their funeral service.
You can use a personal loan to consolidate your debts at a lower rate of interest than your credit cards charge.
2. Car Purchase
Many times having a car is a necessity. A personal loan can provide you the necessary amount you need to buy a new or used car.
3. Special Vacation
From time to time a special vacation may be financed with a personal loan, giving you long term savings compared to if you used a credit card.
4. Wedding
The average wedding costs about $30,000. Many couples or parents obtain a personal loan in order to finance the event.
5. New Kitchen
If you feel you need to extend your kitchen or add a new one, then the full cost of the home renovation may be satisfied by a personal loan.
6. Latest Cellphone
Many people want to have quality cellphone. By taking out a personal loan you can be the first one on the block with the latest cellular phone on the market.
7. Second Honeymoon
If you and your spouse are fortunate enough to both be free for a second honeymoon, but not so free financially to pay for the full cost of it, then you may consider acquiring a personal loan to deal with the expense of your getaway.
8. New Flat Screen TV
There's no doubting the fact that flat screen TV's are expensive, but a number of benefits like picture clarity, energy effieciency, and space savings make them a wise investment to obtain a personal loan for.
9. Improve Credit Rating
Personal loans can be obtained even by those with poor credit. By receiving a personal loan, then quickly paying it off you can improve your credit score.
10. Childbirth
Being responsible for another life isn't easy, and it's not cheap either. A personal loan can give you the extra resources you need to build a comfortable existence around your little one.
11. New Carpets
Carpet sold "per square foot" often adds up to be very expensive. Therefore, if you want to make your house more colorful, comfortable, and cozy, a personal loan may be a viable aid to your goals.
12. A Mirowave
Many people use microwaves as a sole or primary means of cooking their food in today's culture. If you do, you may find it practical to obtain a personal loan in order to feed you family.
13. Relocating
Relocating is expensive. Equipping yourself with funds from a personal loan can help you face potential unexpected costs or roadblocks associated with your big move.
14. Business Start-up Capital
If you're unable to realize your dream of owning your own business due to financial instability, taking out a personal loan can offer you the opportunity to open the business you've envisioned.
15. DVD Player
DVD players offer distortion-free, crystal-clear image and sound emissions. If you don't have the pocket full to purchase a DVD player, you may use the funds from a personal loan to delight your family with this device.
16. Latest Laptop
The portability and immediacy of a laptop computer may be invaluable to your student, work, or home life. Getting a laptop via a personal loan can help you get your assignments and research completed when accessing a desktop computer is impossible or impractical.
17. Job Loss
If you've been laid off and your boss hasn't given you an adequate severance pay, you can use a personal loan to help soften the blow of your job loss.
18. New Hi-fi Equipment
If your an audiophile and you prefer the very best in sound and image reproduction, then a personal loan may be used to supply you with the funds to purchase the newest high-quality hi-fi equipment.
19. New Bathroom
Bathrooms are considered an important room that actually reflects a family's lifestyle. Using a personal loan can help you establish a tasteful look in the bathroom you need created or renovated.
20. Pay For Utilities
Public utilities, such as gas, electricity, cable, water, and a phone line are significant costs to owning a home. If you find yourself coming up too short to pay your utility bills, a personal loan can assist you with keeping your house a comfortable place to live in.
21. School Trips
If your child's school isn't big on fundraising, you'll have to pay for field trips out of pocket. A personal loan can be used during difficult financial times to ensure your child isn't left out.
22. Cosmetic Surgery
Cosmetic surgery is very expensive. If you're dissatisfied with the form/function of some part of your body, a personal loan can help you remodel this body part to your liking.
23. Season Bank Account
Having seasoned funds in your bank account everyday can get you other terrific loans. You can use funds from a personal loan in order to have extra cash just sitting in your own name.
24. Down Payments
Down payments are one of the most difficult obstacles to overcome for home buyers. Using a personal loan is one approach to resolving this matter.
25. Education
If you or your child will be going to college, you'll need to pay for books, tuition, travel, entertainment, and accommodation. All these scholastic related expenses may be taken care of with help from a personal loan for the student.
26. Jewelry
Jewelry is a commodity that can last very long for the money. If you've taken a shine to something shiny, a personal loan can help you make it yours.
27. Car Repair
If your car has broken down and you don't have a rainy day fund to fall back on, a personal loan may be obtained in order to finance your car repair.
28. Christmas
If you think Christmas will break your budget, a personal loan can give you the leeway you need to celebrate the occasion without needing to sell a kidney.
29. Braces
Braces can cost from $5000 to $9000 per apparatus. Using a personal loan can make financing these fixtures less of an inconvenience.
30. Funerals
None of us anticipates needing to attend a funeral. But if a loved one in your family unfortunately passes away, funds from a personal loan can help you met the high cost of arranging their funeral service.
You may use a personal loan for any miscellaneous need you might have. However, you should avoid using personal loans to finance your daily expenditures. Using a personal loan to pay the cost of your day-to-day living requirements will only increase your debt burden in the long run.
Here's my favorite link:
Personal Loan Safety: Stay out of the minimum payment trap
Each loan statement specifies a "minimum payment due". If you took out a personal loan because you were in hot water to begin with, you may be tempted to pay only your minimum due amount. Before you do, Personal Loan Safety wants to urge you to pay more for the following reasons:
- You'll save money - possibly thousands of dollars. Remember, lending institutions make their profits by charging you interest. By paying more than your minimum amount due you'll vastly decrease the amount of interest you'll pay in the long run.
- You'll repay your personal loan sooner. Repaying your loan with only the minimum amount will prolong the life of the debt; You'll balance out your debt quicker if you increase your monthly payment.
- You'll boost your credit rating. You'll normally observe a significant credit rating jump when you pay your personal loan off sooner.
- Paying only minimum payments on your personal loan can prevent you from ever paying off your debt in full, which just means more of your money will go to the lender in the form of interest charges.
Most lending institutions would LOVE for you to think of your minimum payment as just another bill, but in actuality you're allowed to pay any amount over that minimum. To avoid being trapped in debt, you must set aside enough of your own money each month to be able to pay more than the minimum amount due on your debt.
Minimum Payment Due
Amazon Price: $19.95 (as of 12/31/2009)
This handy softcover teaches twenty-three effective approaches that you can use to eliminate your debt and grow your wealth. Secure a copy for your own reference in order to manage your debts wisely and avoid the costly traps borrowers often fall fool for. HIGHLY RECOMMENDED!
Personal Loan Safety Feedback
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- a_willow a_willow Feb 2, 2009 @ 9:04 am
- You are one of December graduates! Come by and answer few questions to show the way to those who will follow! Wish you many, many more great lenses!
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- tdove tdove Jan 14, 2009 @ 6:04 pm
- Thanks for joining G Rated Lense Factory!
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- rockycha rockycha Jan 12, 2009 @ 10:47 am
- Very deep info and great information to keep people from getting into trouble... Squid Angel Blessings today :) Good Work!
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- Susan52 Susan52 Jan 10, 2009 @ 8:05 am
- Very informative, very well done lens. I learned some things. Good job! SquidAngel blessings to you!
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- a_willow a_willow Jan 2, 2009 @ 12:09 am
- This lens entered Fresh Squid Contest for January as one of featured lenses on Fresh Squid group in December! Come by and vote!
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