Bad Credit Furniture Financing Options

Bad Credit Furniture Financing Options

You urgently need bad credit furniture financing but the banks decline your application? Bad credit history is a serious obstacle to getting a loan. Microfinance institutions are ready to help you. But first, let’s figure out what bad credit history is and how to improve it.

What could be the cause of bad credit history?

A negative entry in the history of your payments may be the result of errors of institutions that carry out mutual settlements with you.

For instance:

  • information on debt closure was not received by the Credit Bureau;
  • the payment documents contain erroneous details;
  • other people’s loans are recorded in the chronology;
  • there is a repeated record of former loans.

The reputation of an accurate payer can be tarnished through your fault.

This happens if you have:

  • open loans;
  • unpaid alimony;
  • late payments.

Being on trial or under investigation now or in the past can also lead to the denial of a furniture loan.

Credit history information source

The identity of the borrower who has left an application for a furniture loan with the bank is checked for unpaid invoices, delays in payments and the presence of outstanding debts. The information about the transactions of everyone who has contacted a financial institution at least once is stored in the database of the Credit Bureau. Information about payment of utility bills, fines, taxes and so on is also collected there.

The three major Credit Bureaus in the United States are:

  1. Equifax;
  2. Experian;
  3. TransUnion.

All credit and financial institutions operating in the country send to these bureaus information about clients’ debt obligations.

Banks provide loans after checking this information. If the company finds any irregularities in the transaction records, the loan will be refused.

Having bad credit history? Do banks refuse a loan? Do not despair! Contact a microfinance institution and they will help you get a loan and also improve your credit history!

Bad credit history? Do banks refuse a loan? Do not despair! Use our online referral service and we will help you get a payday loan in Georgia and also improve your credit history!

5 reasons to take a payday loan in Georgia

The financial strategy of our participating lenders is based on customer loyalty. MFIs are more tolerant of mistakes in your financial background and are always ready to provide support in difficult times.

5 reasons to ask us for financial assistance:

  1. No guarantors or collateral required, no paperwork;
  2. Fast and easy application;
  3. Instant approval and funding;
  4. Submit an application online at any time of the day;
  5. Loan amounts range from $100 to $1000 or more.

Getting a loan through our referral service is a great chance to improve your credit history.

All credit companies send information about completed transactions to the database. Thus, timely repayment of payday loans will open a new, clean page of your credit history.

Three helpful tips for building a good credit history

When applying for a furniture loan or another loan, adhere to these three rules and you will always have a good credit history:

  1. Start your credit history by getting one or two payday loans from a microfinance organization and repay them in a timely matter;
  2. Do not borrow loan amounts that exceed your capabilities and repay them on time;
  3. Do not enter into a “credit pyramid”, borrowing money from one organization in order to pay off debts in another.

Use our matching service, get loans, fix your bad credit history, follow our advice and always have money to buy furniture!

Category: General

Tags: bad credit score, furniture financing, loans