Savings Region » Loans

PPI Provides Help When You Need It Most

admin — Sun, 18 Mar 2012 15:56:41 +0000

Naturally, when you take out any type of insurance policy, you hope that you’ll never need it. You take out home insurance to protect yourself from the effects of fire, natural disaster or robbery. You hope you’ll never need the policy, but it’s there in case you do. Auto insurance covers you and your automobile against damages incurred through traffic accidents as well as protecting you in the case of theft.

There is another type of insurance you’d hope never to need, but would be grateful to have if a need arose.

Payment protection insurance (PPI) is optional insurance coverage that protects the policy holder in the event unforeseen circumstances prevent her from earning an income. Covered events include sickness, accident and unemployment. PPI is typically sold alongside a mortgage, auto or personal loan, or store or credit card and covers that particular loan. If a covered event prevented a policy holder from earning an income, she would simply file a PPI claim against the policy. Funds would then be made available to make the monthly loan payments until such time as the policy holder was able to resume responsibility.

Numerous lenders have been guilty of mis-selling PPI policies through the use of unscrupulous sales practices. Use care when selecting a vendor, and find expert advice if you believe you’ve been fooled.

Bad Credit?

admin — Wed, 19 May 2010 14:59:45 +0000

With the recent financial problems that swept the nation and the world, more people see the need to resort to credit to solve their predicaments. However, banks and credit institutions are increasingly reluctant to give out loans and the bar keeps being raised for good loans with decent interest rates. And if you have a negative credit history, getting a loan from a bank may be out of the question.

When you have bad credit, you’re only answer may be getting a bad credit loan. Bad credit loans, also known as unsecured loans, are given by specific credit companies and, truth be said, don’t have very attractive interest rates. But that shouldn’t stop you from trying to get one and eventually applying for one.

The best way to go about it is to shop around and make sure you’re getting the best deal. Some credit institutions are definitely shady, but don’t be fooled into thinking that one institution is better than another just because one advertises on television and promises a good rate. It’s not often the case, but it does happen that the advertised rate may not be the one you’re given, as it will ultimately depend on your credit report.

Finding a Bad Credit Auto Loan

admin — Mon, 09 Nov 2009 02:07:57 +0000

If you have bad credit, and are searching for 0% auto loans or “0-down” auto loans as they may be known, then you should know that your chances of finding a 0% auto loan are also 0. 0% loans just do not exist for people with bad credit. 0% auto loans are intended for people with money and ideal credit. In addition, they require very short terms of repayment: anywhere from 1 year to 36 months. Many people simply cannot afford such a short term loan.

Occasionally you’ll see offers for 0% financing on loans by dealers; this is nothing more than a promotion method used to get new customers in the door. In all likelihood, about 95% of people that apply are denied the loan. However, dealers are banking on the fact that you will still purchase a vehicle since you actually came in. While this could be considered dubious it is common practice for many dealerships. However these are not the 0% car loan offers you should really be worried about.

Sometimes, you will see car dealers offering 0% bad credit auto loans. While these dealers may in fact offer a 0% interest rate, the fees, costs and overly inflated selling price of the car will eat away any potential savings.