A quick look at Easy Home’s website reveals that you can get a computer for as low as $14 per week, a fridge for $18 per week, a new sofa set for $16 per week. This all seems pretty good doesn’t it… wrong. If you look at the total cost of the furnishings that you would purchase at these rent to home stores, its ridiculous… and I would say borders on scamming their customers.

If you have a look at an Easy Home flyer, you’re informed that the weekly rental rates are based upon an interest rate of 29.9%, which seems fair given the high risk nature of the business. However what they don’t tell you is the base rates that they’re using to calculate the 29% interest. The Flyer specifically states 29.9% interest APR based upon “product cost.” However no where are you able to find out this “Product Cost.” If you go into an Easy Home store and ask about a product cost, the employees will beat around bush without ever telling you an accurate product cost (other than a weekly rate).

For example, currently advertised on the Easy Home website is an Acer netback for $14 per week. Doesn’t seem bad… however when you multiply that by the 104 weeks of payments, it is equal to $1456. Now how much does this netback cost in Future Shop or Best Buy… it costs $199. Thats right, you’re paying 700% for this computer, meaning that their base price is something like $1200 before the interest. Other products show similar ridiculous markups.

How do they get away with this? Well basically they prey on the desperation of others and their inability to perform basic math. Is it legal? Thats where there may be an issue. In Canada, it is illegal to charge anyone more than 60% per annum interest. What Easy Home is doing is very similar to the Payday loan stores. By charging ridiculous high fees (in this case, crazy product costs) they’re able to get away with saying that their interest rate is legal.

What do you think? Easy Home or a Ripoff?

photo credit: magerleagues

You’ve got bad credit. And you need a loan. If ever there were, financially speaking, a spot between rock and a hard place, you are standing squarely on it and waiting to get squashed. Where can you go for the loan you need to pay off whatever it is you need to pay off?

Secured Vs. Unsecured Bad Credit Loans

Your first tactic should be to look for a lender who will accept anything you have to offer as collateral for a secured loan. By securing the money they loan you, the lender will have something to use to recover at least part of the bad credit loan if you should default. Home mortgages and automobile loans are secured loans; credit card lines of credit are not.

Lenders are understandably more willing to make loans which are secured. If you, however, not only have bad credit, but nothing to offer in the way of collateral, you may be able to find a lender willing to give you a bad credit loan and reduce the risk involved by charging a significantly higher interest rate. You can spend a great deal of time looking for a bad credit loan, but there are lenders willing to take a chance if you make an effort to find them.

What you have to face is the reality that when your credit rating went south, your credibility with lenders went with it. The unfortunate aspect of this reality is that the events which led to your poor credit rating may have been totally beyond your control. Even so, you will still be penalized in the terms of your bad credit loan, but if you can use the money to pay off other debts, with even harsher interest rates, you will come out ahead.

Your job in the entire bad credit loan process is to protect your own interests, as much as possible, from the interests of the lenders. Research as many bad credit lenders as you can; winnow out those with the lowest interest rates and most generous repayment terms. Where should you begin?

Where To Look For bad Credit Loans

Banks are usually not the most eager when it comes to providing a bad credit loan, but there are exceptions. If you’ve been dealing with the same bank for a long time, have successfully paid off previous loans with them, and the banker knows your current financial troubles were not of your own making, you may have a chance with their loan department.

Private lenders, on the other hand, are more experienced when it comes to lending to those with poor credit. While you can be almost certain that a private lender’s bad credit loan will cost you more in interest than one from a bank, your chances of getting a loan at all are much better.

There is also a glut of online lenders who claim that they will loan money to individuals with bad credit histories, and you may find you e-mail swamped with offers from them. Be very, very careful.

You can also find more info on Bad Credit Personal Loan and Bad Credit Secured Loan Personalbadcreditloanshelp.com is a comprehensive resource to know about Bad Credit Loans.

photo credit: vlauria

There are plenty of different types of loans that require no credit checks, but they often come at a price. There are hard money loans which are generally based upon the after fix up value of a property. Then there are payday loans, this is what has been all in the media as of recently.

No credit check personal loans provide a go between for low income individuals or people with really unfortunate FICO scores. this is a recent comment that was made on a web site I visited.

“Contrary to what you may have heard in the media about the providers of no credit check personal loans, the truth is that these lenders provide valuable services and timely cash, all without turning out major profits (like pro-mortgage lenders often receive)”. From a SuperPages page that I ran across.

OK, if you believe this, then I have a magic goose that lays golden eggs and I’m willing to sell the a good discount today. Hurry, sale ends soon. The problem is that these places are almost legal loan sharks. If you don’t pay back it time, you begin a financial down slope that’s nearly impossible to stop. Late fees on top of an already high interest rate combined spells trouble.

To avoid having to rely on credit check personal loans in the future, you need to pump up your credit score. Somewhere down the line you have begin sorting out your financial affairs. There are five major factors that determine your credit score. They are your payment history, debt ratio, time length of the accounts, having different types of credit and number of inquiries on your file. Work on these items and see your credit score soar.

‘Legal Credit Manipulation’ free ecourse. Don’t be held hostage by private bad credit lenders for high interest rates. Learn the secrets to creating the credit you need, want and deserve. Click here at Bad Credit Repair
Christopher Wright, Financial Cancer Specialist

http://Blog.GoodCreditApproval.com

photo credit: stuartpilbrow

Have poor credit? Well all isn’t lost. Before I even mention some options, let it be known that I don’t recommend these sources as a long term solution. As a matter of fact, some of these businesses border on being a legal loan shark.

Payday and check cashing outlets. Almost anyone with an income qualifies. Here are some of the benefits (cough..cough) of using one of these type lenders:

* NO Collateral Required
* NO Down Payment
* NO Security Deposit
* Use The Money Anyway You Like

But be aware of the down sides too. Borrowers who obtain payday loans generally have cash flow difficulties, and few, if any, lower-cost borrowing alternatives. Because these loans have such short terms to maturity, the cost of borrowing, expressed as an annual percentage rate (APR), is very high.

The borrower usually provides the lender with a post dated check or debit authorization for the amount of the loan plus the fee. If the borrower does not redeem the check in cash and the loan is not refinanced, the lender normally puts the check or debit authorization through the payment system. If the borrower’s deposit account has insufficient funds, the borrower typically incurs a NSF charge on this account. If the check or the debit is returned to the lender unpaid, the lender also may impose a returned item fee plus collection charges on the loan.

This scenario reminds me of those medicine commercials. The side effects are sometimes worse than whatever you’re trying to cure! Defaulting on a payday loan has the same financial side effects. BEWARE!!

‘Legal Credit Manipulation’ free ecourse. Don’t be held hostage by personal loan for poor credit lenders for high interest rates. Learn the secrets to creating the credit you need, want and deserve. Click here at Bad Credit Repair
Christopher Wright, Financial Cancer Specialist

http://Blog.GoodCreditApproval.com

photo credit: *Solar ikon*

Are you struggling to find a bank or lender that will give you a personal loan? Do you need private lenders for personal loans that can help you even though you might not have perfect credit? Typically it takes very good credit to get a personal loan from a bank, but there are other options. Here is a look at one of the best places to get a private personal loan from.

The company is called Prosper and it is solely based online. They started about 4 years ago and are the type of company that works a lot like eBay, only with money. They accept any type of credit and income and have interest rates from the lowest to the maximum allowed. There are loans all the way from $1,000 up to $25,000 and they are all unsecured personal loans from private lenders.

What they do is they allow you to sign up for free. You have to give some of your information including name, address, phone number, birth date, social security number, and a few other things. They instantly pull your credit and assign you a rating for their site. You can, then join different groups on the site and if a group accepts you there is a better chance you will get a loan with a lower rate and higher amount.

Then, you can design your own listing for individual lenders to see. You can put up a picture of yourself, tell the potential lenders what you need to loan for, and how you plan to repay it.

All the lenders are individuals and it may take numerous individuals to fund your loan completely, but you can get the money you need from Prosper. They are very innovative and are at the top of the class when it comes to private lenders for personal loans.

You can get more information about Private Lenders For Personal Loans and discover everything you need to know about Online Personal Loans at:

Private Lenders For Personal Loans