• Pacific Bay Finance

    Welcome to Pacific Bay Finance, your number one solution to consider if you have been thinking about starting a renovation project at your home. Whether it is a small project or a complete renovation, we have all the options that you might want to consider while applying for a home loan and how to get a better deal.

    Contact UsLearn More
  • Pacific Bay Finance

    Welcome to Pacific Bay Finance, your number one solution to consider if you have been thinking about starting a renovation project at your home. Whether it is a small project or a complete renovation, we have all the options that you might want to consider while applying for a home loan and how to get a better deal.

    Contact UsLearn More
  • Pacific Bay Finance

    Welcome to Pacific Bay Finance, your number one solution to consider if you have been thinking about starting a renovation project at your home. Whether it is a small project or a complete renovation, we have all the options that you might want to consider while applying for a home loan and how to get a better deal.

    Contact UsLearn More
  • Pacific Bay Finance

    Welcome to Pacific Bay Finance, your number one solution to consider if you have been thinking about starting a renovation project at your home. Whether it is a small project or a complete renovation, we have all the options that you might want to consider while applying for a home loan and how to get a better deal.

    Contact UsLearn More

RENOVATION
INVESTMENT

REAL ESTATE
INVESTMENT

HOUSING
LOAN

PROPERTY
INSURANCE

PACIFIC BAY FINANCE NEWS

Learn the latest news on Pacifi Bay Finance

Personal Loans Can Help Improve Credit Score

You have just blown the motor in the car that you use essentially for getting back and forth to work. You have a dilemma because you have no money available until your next payday, which is days away. You struggle with finding a workable solution to the problem. You know that your credit will not allow you to get a conventional bank, or credit union loan. Your only option is to try for a personal loan from one of the entities that advertise loans to people with not so favorable credit. A personal loan is one that you can get from a bank, finance company, or a credit union that does not require collateral.

Personal loans are short term loans granted with low monthly payments. It is not a payday loan where the pay back is done at an astronomical interest rate. Most personal loans are designed to help your credit rating. Many of them are called second chance loans. The process for applying for a personal loan is simple. Locate a lending institution that you prefer to do business with, take you ID and other important papers. This can include a utility bill addressed to you, you social security card, and proof of income. Again, there is no collateral to put up.

Personal loans are now available online through personal loans search sites. You must make sure that the website you choose is not a one-time repayment loan, or a payday loan. Read their policy thoroughly. Fill out the online application, and in many instances, the money will be available to you the very next day. For most online loans, a checking account is required because the money is deposited directly into your checking account. Many people prefer doing business in person in order to get a full understanding of the terms of the loan. Personal loans, plus the interest and finance charge, are totaled then divided by the number of months to repay.

This process is done both by real time institutions, and online loan companies. You have the exact amount of repayment before signing, or electronically signing the loan papers. You can feel confident with a personal loan because all that is needed is the means to pay the money back. A personal loan is often called a signature loan, meaning that your signature and integrity are the company’s assurance of repayment. Personal loan amounts, like conventional loans, are based on your income. Two family incomes will produce a larger loan amount. Payments must be made on time to ensure a favorable report to the credit bureau. Missed, or late payments, will reflect negatively on your credit report.

Personal loans are ideal when the need is an emergency, or if you do not need huge sums. The application process is usually complete within a matter of minutes, and you are on your way to having that car repaired. Before getting any loan, research the terms and policies of the lender. Check out any reviews, if possible. Personal loans are beneficial because you do not have to mortgage anything to get the amount that you need.

Your Comments and Suggestions are Important to Us!