Posts made in June 2018

Mejore Su Crédito Para Obtener Préstamos Personales Rápidos

Usted necesita un préstamo personal urgentemente, pero hay solo un problema: su crédito no es estelar. ¿Qué debe hacer usted para mejorar su crédito? Aquí le damos algunos consejos.

¿Cómo Se Consigue Un Préstamo Personal?

Primero, figure cuánto dinero usted necesita. Después, mire a su calificación crediticia. Este es el número de tres dígitos por lo general entre 500 y 850. Lo más alto el número, lo mejor su crédito, y lo más bajo el número, lo peor que los acreedores consideran su crédito. Para conseguir un préstamo personal con términos buenos, como por ejemplo, una suma grande más un interés bajo, se necesita tener buen crédito con una calificación crediticia alta. Es preferible que este número sea más grande que 739; si es más bajo que 620, es posible que tendrá dificultades encontrar un préstamo con interés bajo y términos buenos.

Además, se necesita comparar diferentes préstamos para tratar de conseguir las mejores tasas de interés. Cuando usted encuentre lo que le guste, escoja un prestamista y aplique. Pero primero, trate de subir su calificación crediticia. Esto le ayudará mucho para obtener el préstamo que usted quiere sin tener que pagar demasiado interés.

Asegúrese De Que Sus Informes De Crédito Estén Correctos

Hay casos donde los informes de crédito tienen errores. Hasta solo una falta en sus informes puede bajar su número de crédito considerablemente. Es una buena idea verificar los informes hechos por Equifax, Experian, y TransUnion para asegurarse de que no hay ningunos errores en la información que los bancos y otros prestamistas miran sobre su crédito.

Cuando usted revise sus informes, asegúrese de que sus datos personales estén correctos. Después, fíjese que todas sus cuentas de crédito estén contabilizadas. También, mire si hay alguna cuenta o solicitud de crédito que usted no reconozca. Después de revisar todo, si usted encuentra errores, debe presentar una disputa por cada error que encuentre, a cada buró de crédito.

Por ejemplo, si encuentra que su domicilio está incorrecto en el informe de Equifax, y además encuentra que el informe de TransUnion muestra una cuenta de crédito que usted no tiene, debe presentar una disputa a Equifax con el domicilio correcto, y otra disputa a TransUnion por la cuenta que usted no reconozca.

No Aplique Demasiado Para Tarjetas de Crédito

Cada vez que usted aplica para una tarjeta de crédito, su calificación crediticia baja un poco. Es mejor aplicar solo para lo que usted de veramente quiere conseguir y lo que le servirá más. Aplicando demasiado bajará su puntaje, haciendo daño a su crédito. No aplique para todas las tarjetas que las tiendas le ofrecen.

Debe Pagar Sus Pagos Atrasados

Si tiene algunos pagos atrasados, arreglelos lo más pronto posible. Pague lo que debe en sus tarjetas de crédito y en sus préstamos. Los pagos delincuentes pueden aparecer en los informes de crédito hasta siete años a partir de la fecha del pago perdido o atrasado. Así que una de las mejores cosas que usted puede hacer para mejorar su crédito es pagar todo a tiempo.

Your Loan Depot comprende lo que se debe hacer para mejorar su crédito y obtener préstamos personales rápidos. Póngase en contacto con nosotros lo más pronto posible y le ayudaremos encontrar los préstamos más apropiados para usted, con los intereses más bajos.

Debunking 5 Title Loan Myths

If you’re in a situation that warrants applying for a title loan, then you should first educate yourself so you don’t end up in an even worse financial situation. There are many myths out there about auto title loans and how they work, but we’re here to debunk those myths and give you the truth. For title loans in Texas, we can help. If you have more questions after this blog post — about title loans or another type of loan — be sure to contact us. Otherwise, you can apply for a car title loan online with Your Loan Depot.

1. You’ll no longer have a car.

This is one of the more common myths out there, but it’s completely unfounded. Title loan companies don’t take your keys as soon as you finish your title loan application and receive your money — that’s simply just not how title loans work. Though you hand over your vehicle title, you’re still able to drive your car around to get to work or wherever else you need to.

You only risk having your car taken from you when you default on your title loan payments and lenders aren’t just waiting to take your car from you (but more on that later).

2. You need good credit.

If you have negative factors affecting your credit score, you’re not without hope. So many people have gone through negative financial situations in the past that have damaged their credit scores. You don’t have to let your past define you, though, when it comes to seeking help from a title loan company.  

As long as you have the money and resources to buy a car, truck, or RV, we can help you. This vehicle, after all, is your collateral for the loan amount. This means that we don’t even need to check your credit score, let alone require a good credit score. Instead, we evaluate the condition of your vehicle and its current value, and we review documents to ensure you are indeed the vehicle’s legal owner.

3. Lenders are trying to take your vehicle.

Many people believe lenders are preying off of your misfortune and want to keep your vehicle title and vehicle. Here at Your Loan Depot, though, we’re more interested in helping you get back on your feet financially after an emergency than we are with taking your car away from you.

Whether you visit our Rosenberg office, Corsicana office, Pearland office, or another one of our other Texas title loan companies, you’re in good hands. Our title loan service includes easy repayment plans so that you can establish how and when you’ll repay your title loan so you don’t lose your vehicle.

4. Interest rates are too high & you’re penalized for early payments.

There are definitely title loan companies out there that will charge excessive interest rates or penalize you when you try to pay early.

However, car title loans don’t necessarily carry as high of an interest rate as many consumers believe they do. Whenever you’re researching a loan that will work for your current financial needs, look into the title loan company and determine how much you’ll pay in interest. The interest rates will vary from company to company, so you can search around for one that best fits your needs.

You can also check to see if you’ll be penalized for paying your loan earlier than scheduled. Many title loan companies actually like when you repay your loan faster and are on top of your payments, but others will sometimes penalize you. Doing your research beforehand on different title loan applications can save you money and stress later on.

Here at Your Loan Depot, we’ll be forthright with you about your interest rates and payments. And remember — we help you establish an easy repayment plan so that you can go into the repayment process with all the knowledge, information, and resources you need.

5. You’ll never be able to repay your loan.   

This myth plays off of some of the insecurities, fears, and myths present throughout the entire auto title loans process. At Your Loan Depot, though, we want to fill you with optimism for your future and help you repay your title loan.

We offer a 30-day or term payback, and your loan can be up to $10,000 (based on your collateral). We specialize in personal relationships and truly want to help you succeed.

When you work with Your Loan Depot, you’re working with one of the most dependable, reliable loan companies in Stephenville, Tomball, Mansfield, and many other Texas locations. When you’re facing a financial emergency and find yourself asking “Are there title loans near me?”, we hope you’ll think of us. Contact Your Loan Depot for title loans in Texas today!

What Are the Factors Affecting Your Credit Score?

Needing a loan already means you’re in a tight financial situation, but when you have bad credit the situation can seem even more intense and restricting. At Your Loan Depot in Texas, we still approve loans for people with poor credit. If you need a bad credit loan, feel free to contact us to see what we can do.

Have you ever been curious about how your credit score is determined though? If you know exactly what’s contributing to your bad credit, then you can know what changes to make to improve it.

FICO® Scores are always determined and calculated by negative and positive information in your credit report. Most people know that a late payment will negatively impact their credit scores, but FICO actually outlines exactly what factors affect its calculations.

Payment History: 35 Percent

You guessed it: that late payment (or two or three…) carries a lot of weight with your credit score. Any lender you go to for a loan wants to see that you paid past bills and credits on time.

If you’ve messed up a lot of payment dates, though, the good news is that credit scores will notice if you establish or reestablish a good track record of making payments on time. So if the last time you missed a payment deadline was a year or two ago, FICO will notice and won’t damage your score as much as if you missed last month’s payment date.

Because of how much weight is given to your payment history, the best thing you can do to initially improve your credit score is make your payments on time — even if you’re just paying the minimum amount due.

Amounts Owed: 30 Percent

If you owe a lot on your credit card or previous loan, that doesn’t mean you’re automatically going to have a hard time getting a payday loan in Texas. However, if you’ve used a large percentage of your credit limit, it can indicate to your potential lender that you’re more likely than another person to make late payments or fail to pay altogether.

The total balance on your last statement is the amount that your credit report takes into consideration.

Length Of Credit History: 15 Percent

We see a big drop in the weight of this item and the previous factor. Different aspects will be considered with the length of your credit history:

  • How long you’ve had your credit accounts
    • The age of your oldest account
    • The age of your newest account
    • The average age of all of your accounts
  • How long you’ve had specific accounts
  • How long it has been since you used certain accounts

Longer credit histories generally improve your credit score because it shows your patterns, payments, and reliability over a longer amount of time. However, if your credit account is new but the rest of the factors are OK, then your credit report will most likely be fine.

Credit Mix: 10 Percent

How many different credit accounts do you have? Credit scores look into this. They’ll consider your credit cards, installment loans, mortgage loans, and even your retail accounts.

Having very few or very many credit accounts won’t be a huge determiner in your credit score, and you definitely don’t want to open credit accounts that you won’t use. This factor is generally of most use when there’s not much other information on which to base a score.

New Credit: 10 Percent

This factor is similar to the length of your credit history. If you open several new credit accounts in a short time, your credit score may be at risk (especially if you don’t have a long credit history from other credit accounts).

To protect yourself from this in the future, be careful with how many new accounts you have at once. You score won’t drop drastically if you apply for new credit, but it’s more likely to drop more if you open several new accounts rapidly.

These percentages aren’t quite as cut and dry as is listed here, but it’s a good starting area. A category’s importance can vary per person, especially if you don’t have a long credit history.

At Your Loan Depot, we offer some of the best loans for bad credit. If you find yourself asking “Where can I get a loan with bad credit?”, then we hope you’ll think of us. We offer title loans and payday loans to help you get back on your feet, and we’re in ten locations throughout Texas. Now that you know how credit scores are determined, you can better work to improve yours.