Frugal Blog

If you are planning to apply for a personal loan in the near future there are things you can do beforehand to ensure that you get a bargain of a deal.

1. If you want to get the best deal possible on a personal loan then make sure you have a credit line that is small as opposed to large. If you have a medium to large credit line prospective lenders will view this as a liability.
2. Whatever small debts you have on your credit cards, pay them off preferably before the date they are due to be paid on. In fact you are better off cancelling any credit cards that you do not use on a regular basis. Consider the annual fees of your cards as well as the interest rates before you decide which ones to do away with.
3. If you are not a thrifty person, you need to curb that wild tendency as soon as possible! Do not put your home or any of your other assets at risk by taking on a high equity credit line in order to pay off soaring debts incurred on your credit cards that are due to reckless spending habits.
4. Be aware that rates change on a daily basis so look around for the best rates possible on a personal loan. Consider rates when the market is on an even keel and relatively calm. As well, make sure that all of the quotes you are given by various lenders are from the same period of time.
5. When you fill out the application for the personal loan, observe neat penmanship and make it as easy for the lender to read as possible. The information you provide is not the only thing that matters. How you present the information plays a key role as well. If it is neat and legible you look more credible and professional in the eyes of the person who is doing the assessing.
6. Do not sign any documents related to the personal loan without first reading over them thoroughly, making sure that you understand what you are signing. Pore over the documents line by line and if you need clarification on any point, by all means, ask for it.

CNN Reports: “Saudi Arabia, the world’s largest oil producer, is concerned that sustained high oil prices will eventually slacken the world’s appetite for oil, affecting the kingdom in the long run.” See also my article How Bad Is Your Debt Vulbnerability?

CNN Reports: Only a few years ago, Americans who considered themselves middle class were scrimping to pay for their kids’ college education. Now, many of them are struggling to cover far more basic needs - gas and groceries. See also my article, Debt Priority, Hierarchy of Debt

CNN Writes: “It’s hard to imagine now, but in 1999 gasoline sold for 90 cents a gallon. How’d we get from there to $4 a gallon?” Additionally, if you would like some debt advice to stretch your budget, see my article 40% Pay Raise Without Asking The Boss

CNN Reports: “…the Office of Thrift Supervision, responsible for overseeing the nation’s savings and loans, endorsed a seven-point plan to tackle “unfair” and “deceptive” practices by companies that issue credit cards. ” See also my article Credit Cards Dirty Lil Secrets

CNN Reports: “With gas prices now averaging $3.51 a gallon nationwide, according to AAA and the Oil Price Information Service, more and more Americans who have to drive are weighing the need for each and every trip.” See also my article Money Strategies In Car and Life Insurance.

CNN News reports: “As American families face the double whammy of higher gas and food prices, moms nationwide are resorting to considerable ingenuity to stretch their monthly grocery budget.” See also my article 5 Proven Steps To Budget Motivation

CNN reports: “Senate Democrats and Republicans, under election-year pressure to do more about the mortgage crisis, worked around the clock Wednesday to draft a bipartisan housing bill that has been fast-tracked for a debate and vote”

Cnn Reports “The proposal… would have the Federal Housing Administration guarantee hundreds of billions of new, lower-cost loans to troubled homeowners. See also my article, How Much Is A ‘Ton of Interest’?

CNN says “It’s costing us more and more money to fill up the gas tank. And while that’s unlikely to change anytime soon, there are some tricks to getting the most value per gas dollar.” See also my article How To Curb Your Spending