I had a great talk with Millennial Money Man yesterday and my favorite piece of advice he gave me was to âwrite what youâre passionate about.â It took me literally five seconds to think of the one thing Iâm really passionate…
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This page may include affiliate links. Please see theÂ disclosure pageÂ for more information. If you have a lot of debt or different types of debt, then a debt consolidation loan might sound like a good idea. However, if you have low credit, you may not have many options. The good news is, you can still get…
The post A Debt Consolidation Loan Will Not Fix Your Bad Money Habits appeared first on Debt Discipline.
Who is eligible for Chapter 13 bankruptcy? Chapter 13 bankruptcy is reserved for individuals and couples, as opposed to corporations and partnerships. Youâre most likely eligible assuming you have received credit counseling and possess a…
The post Chapter 13 Bankruptcy â What It Is & How It Works appeared first on Crediful.
If you have bad credit and need a car loan, there are some challenges when compared to obtaining a standard car loan. However, pick your head up because there are a handful of great lenders that specifically tailor their programs to people with bad credit. We researched the landscape of lenders that can help you get a car loan even if you have a below-average credit score.
Based on our study, OneMain Financial and LightStream are two of the top lenders offering bad credit card loans. This is due to factors including loan options, requirements to qualify, and interest rates offered. Of course, we offer in-depth reviews of all the top lenders who offer bad credit car loans further down in this piece.
Apply now with our top pick: OneMain Financial
In this guide we also help you understand the factors that go into selecting the right auto lender, and how to get the best rate you can.
Most Important Factors for Bad Credit Car Loans
If youâre in the market for a bad credit car loan, there are a plethora of factors to consider and compare. Here are the main loan details we looked at in our study, and the ones you should prioritize as you select the best car loan for your needs.
Check your credit score. And understand what is in your credit report.
FICO scores under 579 is considered ‘poor’. But you may need a bad credit loan with a score as high as 669.
Interest rates and fees matter. These can make a huge difference in how much you pay for an auto loan each month.
Compare loan terms. Consider your repayment timeline and compare lenders with this in mind.
Getting prequalified online can help. Some lenders, including ones that made our ranking, let you get prequalified for a loan online without a hard inquiry on your credit report.
Watch out for loan restrictions. Some lenders impose restrictions on what car you can purchase. Keep this in mind to avoid unpleasant surprises later.
The Best Bad Credit Car Loans of 2021
The best bad credit car loans make it easy for consumers to qualify for the financing they need. The following lenders made our list due to their superior loan offerings, excellent customer service, and reputation in this industry.
Car Loan Company
Best for Flexibility
Best Personal Loan Option
Best Loan for Bad Credit and No Credit
Best Loan Comparison Site
Best Big Bank Loan for Bad Credit
Best for Fast Funding
Why Some Lenders Didn’t Make the Cut
While the lenders we are profiling are the best of the best, there are plenty of bad credit car loans that didnât quite make the cut. We didnât include any lenders that only offer auto loan refinancing, for example, since we know many people need a car loan in order to purchase a new or used car or truck. We also stayed away from bad credit car loans that charge outrageous fees for consumers with the lowest credit scores.
Bad Credit Auto Loan Reviews
We listed the top companies we selected in our study above, but we also aim to provide readers with more insights and details on each. The reviews below highlight the highlights of each lender that made our list, plus our take on who they might be best for.
OneMain Financial: Best for Flexibility
OneMain Financial offers personal loans and auto loans with interest rates that range from 18.00% to 35.99%. You can repay your auto loan in 24, 36, 48, or 60 months, and you can use this lender to borrow up to $20,000 for a new or used car. You can apply for your auto loan online and from the comfort of your own home, and itâs possible to get approved within a matter of minutes.
While OneMain Financial doesnât list a minimum credit score requirement, itâs believed they will approve consumers with scores as low as 600. You should also note that auto loans from OneMain Financial come with an origination fee of up to 5% of your loan amount.
Sign Up With OneMain Financial Today
Why This Lender Made Our List: OneMain Financial offers a lot of flexibility in terms of your loan terms, including the option to repay your auto loan over five years. OneMain Financial also has pretty decent reviews from users for a bad credit lender, and they have an A+ rating with the Better Business Bureau.
Potential Downsides to Be Aware Of: OneMain Financial charges some pretty high rates for its bad credit loans, and donât forget that you may need to pay an origination fee that is up to 5% of your loan amount. Their loans are also capped at $20,000, which means this lender wonât work for everyone.
Who Itâs Best For: This lender is best for consumers with really poor credit who need auto financing but canât get approved for a better loan.
Upgrade: Best Personal Loan Option
Upgrade is an online lender that offers personal loans with fixed interest rates, fixed monthly payments, and a fixed repayment timeline. You can borrow up to $50,000 in an unsecured loan, which means you wonât actually use the car you purchase as collateral for the loan.
You can repay the money you borrow over 36 to 60 months, which makes it possible for you to tweak your loan offer to secure a monthly payment you can afford. Upgrade has a minimum credit score requirement of 620 to qualify, although theyâll consider additional factors such as your income and employment history.
Sign Up With Upgrade Today
Why This Lender Made Our List: Upgrade lets you âcheck your rateâ online without a hard inquiry on your credit report. This makes it easy to shop around and compare this loan offer to others without having to fill out a full loan application. Also note that Upgrade has an A+ rating with the BBB.
Potential Downsides to Be Aware Of: Upgrade charges APRs as high as 35.89% for consumers with the worst credit, and an origination fee of up to 6% of your loan amount might also apply.
Who Itâs Best For: Upgrade is best for consumers with decent credit who need to borrow a larger loan amount. This loan is also best for anyone who wants an auto loan that isnât secured by their vehicle.
AutoCreditExpress.com: Best Loan for Bad Credit and No Credit
AutoCreditExpress.com is an online platform that lets consumers with bad credit and even no credit get the financing they need. Once you fill out some basic loan information, youâll be connected with a lender who can offer you financing as well as a dealership in your area. From there, youâll head to the local dealership and pull the pieces of your auto loan together, including the purchase price of the car you want.
Sign Up With Autocreditexpress.com Today
Why This Lender Made Our List: AutoCreditExpress.com has an A+ rating with the Better Business Bureau. This platform also makes it possible for consumers with no credit at all to finance a car, which is a welcome relief for people who are building credit for the first time.
Potential Downsides to Be Aware Of: This website is a loan platform but they donât offer loans directly to consumers. This means you wonât have any idea on rates and terms until you fill out an application and get connected with a lender.
Who Itâs Best For: This loan is best for consumers with no credit or minimal credit history who cannot get approved for a loan elsewhere.
MyAutoLoan.com: Best Loan Comparison Site
MyAutoLoan.com is a loan comparison site that makes it easy to compare up to four auto loan offers in a matter of minutes. You can use this website to apply for a new auto loan, but you can also utilize it to consider refinancing offers for an auto loan you already have. You can also use funds from this platform to purchase a car from a dealer or from a private seller.
Sign Up With MyAutoLoan.com Today
Why This Lender Made Our List: Comparing auto loans in terms of their terms, rates, and fees is the best way to save money and wind up with the best deal. Since MyAutoLoan.com is a loan comparison site, they make it easy to shop around and compare competing offers.
Potential Downsides to Be Aware Of: Loan comparison sites connect you with other lenders who have their own loan terms and minimum requirements for approval. Make sure you know and understand all the details of loans youâre considering before you sign on the dotted line.
Who Itâs Best For: MyAutoLoan.com is best for consumers who want to do all their auto loan shopping with a single website.
Capital One: Best Big Bank Loan for Bad Credit
Capital One offers online auto loan financing in conjunction with a program called Auto NavigatorÂ®. This program lets you get prequalified for an auto loan online, then work with a participating dealer to coordinate a loan for the car you want. Capital One also lets you search available vehicles at participating dealerships before you apply for financing, making it easy to figure out how much you might need to borrow ahead of time.
Sign Up With Capital One Today
Why This Lender Made Our List: Capital One offers the huge benefit of letting you get prequalified online without a hard inquiry to your credit report. Capital One is also a reputable bank with a long history, which should give borrowers some comfort. They have an A+ rating with the BBB and plenty of decent reviews from consumers.
Potential Downsides to Be Aware Of: You should be aware that Capital One auto loans only work at participating dealers, so you may be limited in terms of available cars to choose from.
Who Itâs Best For: Capital One auto loans are best for consumers who find a car they want to buy at one of the participating lenders that works with this program.
LightStream: Best for Fast Funding
LightStream offers online loans for a variety of purposes, including auto financing. Their auto loans for consumers with excellent credit start at just 3.99% with autopay, and even their loans for consumers with lower credit scores only run as high as 16.79% with autopay.
You can apply for your LightStream loan online and get approved in a matter of minutes. This lender can also send your funds as soon as the same business day you apply.
A minimum credit score of 660 is required for loan approval, although other factors like your work history and income are considered.
Sign Up With LightStream Today
Why This Lender Made Our List: LightStream offers auto loans with exceptional terms, and thatâs even true for consumers with less than perfect credit. You can also get your loan funded as soon as the same business day you apply, which is crucial if you need auto financing so you can get back on the road.
Potential Downsides to Be Aware Of: With a minimum credit score requirement of 660, these loans wonât work for consumers with the lowest credit scores.
Who Itâs Best For: LightStream is best for people with decent credit who need to get auto loan financing as quickly as possible.
What You Need To Know When Applying For A Car Loan With Bad Credit
Interest rates and fees matter.
If you think your interest rate and loan fees wonât make a big difference in your monthly payment, think again. The reality is that rates and fees can make a huge difference in how much you pay for an auto loan each month. Consider this: A $10,000 loan with an APR of 35.89% will require you to pay $361 per month for five years. The same loan amount at 21.99% APR will only set you back $276 per month. At 9.99%, you would pay only $212 per month for five years. The bottom line: Make sure to compare auto loans for bad credit so you wind up with the lowest possible APR you can qualify for.
Take steps to improve your credit score before you apply.
Itâs not always possible to wait to apply for a car loan, but you may be able to secure a lower interest rate and better loan terms if you can improve your credit score before you borrow money. The most important steps you can take to improve your score include paying all your bills early or on time, as well as paying down debt in order to decrease your credit utilization. You should also refrain from opening or closing too many credit card accounts in order to avoid new inquiries on your credit report and maintain the longest average length of your credit history possible.
Compare loan terms.
Some lenders let you borrow money for up to 84 months, while others let you repay your loan over 36 or 60 months at most. If you need to repay your loan over a longer timeline in order to secure an affordable monthly payment, make sure to compare lenders based on this factor. If youâre having trouble figuring out how much can you can afford, gauging affordability based on the monthly payments you can handle can also help in that effort.
Getting prequalified online can help.
Some lenders, including ones that made our ranking, let you get prequalified for a loan online without a hard inquiry on your credit report. This makes it considerably easier to compare rates and shop around without formally applying for an auto loan. Getting prequalified with more than one lender can also help you determine which one might offer the lowest rate without having to fill out a full loan application.
Watch out for loan restrictions.
As you compare the lenders on this list, keep in mind that not all lenders extend loans for any car you want. Some only let you finance cars with participating lenders in their network, which can drastically limit your options and make it impossible to purchase a car from a private seller. If you hope to purchase a car from someone you know or a website like craigslist.org, you may want to consider reaching out to your personal bank or a credit union you have a relationship with.
Bad credit car loans donât have to be forever.
Finally, you should know that a car loan for bad credit doesnât have to last forever. You may need to borrow money for a car right now regardless of the interest rate and terms you can qualify for, but it may be possible to refinance your loan into a better loan product later on. This is especially true if you focus on improving your credit score right away, and if you use your auto loan as an opportunity to prove your creditworthiness.
How to Get the Best Rate
1. Check your credit score.
Your credit score is one of the most important defining factors that dictate loan costs. Before you apply for an auto loan, it can help you check your credit score to see where you stand. Your score may not be as bad as you realize, but it could also be worse than you ever imagined. Either way, it helps to know this important information before you start shopping for an auto loan.
2. Improve your credit over time.
If your credit score needs work, youâll want to take steps to start improving it right away. The most important steps you can take to boost your credit score include paying all your bills early or on time and paying down debt to decrease your credit utilization. Also, make sure youâre not opening or closing too many credit accounts within a short amount of time.
3. Check your credit reports.
Use the website AnnualCreditReport.com to get a free copy of your credit reports from all three credit bureaus. Once you have this information, check over your credit reports for errors. If you find false information that might be hurting your score, take the steps to have the incorrect information removed.
4. Compare loan offers from at least three lenders.
A crucial step to get the best rate involves shopping around and comparing loan offers from at least three different lenders. This is important since lenders with different criteria might offer a lower APR or better terms than others.
5. Be flexible with repayment terms.
Also consider a few different loan terms provided you can afford the monthly payment with each. Some auto lenders offer better rates for shorter terms, which can help you save money if you can afford to repay your loan over 24 or 36 months instead of 60+.
How We Chose the Best Auto Loans
The lenders on our list werenât plucked out of thin air. In fact, the team behind this guide spent hours comparing auto lenders based on a wide range of criteria. Hereâs everything we considered when comparing the best bad credit car loans of 2021:
Interest Rates and Loan Terms: Our team looked for loans that offer reasonable rates and terms for consumers with poor credit. While higher APRs are typically charged to consumers with a low credit score, we only considered lenders that offer sensible rates that donât seem out of line for the auto loan market.
Ratings and Reviews: We gave preference to lenders who have decent reviews online, either through Consumer Affairs, Trustpilot, or another third party website. We also gave higher marks to lenders who have a positive rating with the Better Business Bureau (BBB).
Online Availability: Lenders who offer full loan details online were definitely given top priority in our ranking, and lenders who let you get prequalified online without a hard inquiry on your credit report were given the most points in this category. But since not everyone wants to apply for a loan online, we also included some lenders that let you apply over the phone.
Approval Requirements: Finally, we looked for lenders that extend credit to consumers with low credit scores in the first place. Not all lenders offer specific information on approval requirements, but we did our best to sort out lenders that only accept borrowers with good or excellent credit.
Summary: Best Bad Credit Card Loans of 2021
Best for Flexibility: OneMain Financial
Best Personal Loan Option: Upgrade
Best Loan for Bad Credit and No credit: AutoCreditExpress.com
Best Loan Comparison Site: MyAutoLoan.com
Best Big Bank Loan for Bad Credit: CapitalOne
Best for Fast Funding: LightStream
The post What Are the Best Car Loans When You Have Bad Credit? appeared first on Good Financial CentsÂ®.
Paying off debt with âgazelle intensityâ is a great way to get rid of debt quickly. Cutting your budget to a nearly bare-bones level and working hard to increase your income, speed up debt payments and save up for retirement will help you make great progress on your financial goals, but most people can only live on a strict budget for so long before they begin experiencing debt burnout.
Find out now: How much do you need to save for retirement?
What is Debt Burnout?
Burnout is feeling exhausted with your day-to-day routine or the lack of flexibility in your budget. Some people get tired of not having extra money in their food budget to go out to eat occasionally or buy a wider variety of foods at the grocery store. Others grow tired of having little to no budget for entertainment and fun. Burnout leaves you feeling fatigued, frustrated and ready to give up on your debt-free dreams.
Beating Debt Burnout
After youâve diagnosed yourself with debt burnout, itâs important to take immediate steps to correct it so you donât end up un-doing all the progress youâve made toward paying off your debt. The steps to beating burnout donât have to be drastic. Itâs possible to do it by making a few simple adjustments.
1. Reassess Your Budget
After youâve paid down some of your debt, itâs common to start feeling some burnout from the lack of flexibility in your budget. This may be a good time to reassess your budget and perhaps give yourself a little more money for things you enjoy, like increasing how much you spend on entertainment or giving yourself a little more money for going out to eat with friends and family. This may decrease the amount of money going to debt payments, but thatâs better than getting burnt out and going on a crazy credit card shopping spree down the road.
2. Plan a Fun Trip or Event
While your family is paying off debt, itâs common to give up all vacations, trips and fun events. But when you start experiencing debt burnout, planning for one of these events is a great way to stay motivated and give your family something to look forward to. The trip or event doesnât have to be a huge and expensive ordeal. Even a short day or weekend trip is something to look forward to when you are living on such a tight budget. Try planning for when you hit a milestone â paying off half of your debt or even for when the whole thing is paid off.
3. Find Some Support
When you start to feel burnt out and unmotivated to continue your debt payoff journey, seeking out an accountability partner is a great way to help you stay on track. Single people can especially benefit from having someone to confide in and bounce ideas off of. But even couples and families can use the outside perspective of an accountability partner to help them keep focused on their financial goals and beat debt burnout.
Debt burnout is a real thing that many people struggle with as they work their way out of debt. The more debt you have to begin with and the longer the time frame for paying it off, the more likely it is that youâll face burnout at some point.
Find out now: Should I get a fixed or adjustable rate mortgage?
What other ways can you think of to help beat debt burnout?
Photo credit: flickr
The post 3 Ways to Beat Debt Burnout appeared first on SmartAsset Blog.
Credit cardÂ billsÂ can be confusing. If everything was straightforward and clear,Â credit cardÂ debtÂ wouldn’t be such a big issue. But it’s not clear, and debt is a massive issue for millions of consumers.Â
One of the most confusing aspects is theÂ minimum payment, with few consumers understanding how this works, how much damage (if any) it does to theirÂ credit score, and why it’s important to pay more than the minimum.
We’ll address all of those things and more in this guide, looking at howÂ minimumÂ credit cardÂ paymentsÂ can impact yourÂ FICOÂ scoreÂ and yourÂ credit report.
What is aÂ Credit CardÂ Minimum Payment?
TheÂ minimum paymentÂ is the lowest amount you need to pay during any given month. It’s often fixed as a fraction of yourÂ total balanceÂ and includes fees and interest. Â
If you fail to make thisÂ minimum payment, you may be hit withÂ late feesÂ and if you still haven’t paid after 30 days, your creditor will report your activity to the majorÂ credit bureausÂ and yourÂ credit scoreÂ will take a hit.
When this happens, you could lose up to 100 points and gain a derogatory mark that remains on yourÂ credit reportÂ for up to 7 years.Â MakingÂ minimum paymentsÂ will not result in a derogatory mark, but it can indirectly affect yourÂ credit scoreÂ and we’ll discuss that a little later.
Firstly, it’s important to understand why you’re being asked to pay aÂ minimum amountÂ and how you can avoid it.
How Much is aÂ MinimumÂ Credit CardÂ Payment?
Prior to 2004,Â monthly paymentsÂ could be as low as 2% of the balance. This caused all kinds of problems as most of yourÂ monthly paymentÂ is interest and will, therefore, inflate every month so that every time you reduce the balance it grows back.Â
Regulators forced a change when they realized that some users were being locked into a cycle ofÂ credit cardÂ debt, one that could see them repaying thousands more than the balance and taking many years to repay in full.
These days, a minimum payment must be at least 1% of the balance plus all interest and fees that have accumulated during that month, ensuring the balance decreases by at least 1% if only theÂ minimum paymentÂ is met.
Do I Need to Make theÂ Minimum Payment?
If you have a rolling balance, you need to make the minimumÂ monthly paymentÂ to avoid derogatory marks. If you fail to do so and keep missing those payments, your account will eventually default and cause all kinds of issues.
However, you can avoid theÂ minimum paymentÂ by clearing your balance in full.
Let’s assume that you have a brand-newÂ creditÂ cardÂ and you spend $2,000 in the first billing cycle. In the next cycle, you will be required to pay this balance in full. However, you will also be offered aÂ minimum payment, which will likely be anywhere from $30 to $100. If this is all that you pay, the issuer will start charging you interest on your balance and your problems will begin.
If you spend $2,000 in the next billing cycle, you have just doubled your debt (minus whatever principal theÂ minimum paymentÂ cleared) and your problems.
This is a cycle that many consumers get locked into. They do what they can to pay off their balance in full, but then they have a difficult month and thatÂ minimum paymentÂ begins to look very tempting. They convince themselves that one month won’t hurt and they’ll repay the balance in full next month, but by that point they’ve spent more, it has grown more, and they just don’t have the funds.
To avoid falling into this trap, try the following tips:
Only Spend What You Have:Â AÂ credit cardÂ should be used to spend money you have now or will have in the future. Don’t spend in the hope you’ll somehow come into some money before the billing period ends and theÂ credit cardÂ balanceÂ rolls over.
Get an IntroductoryÂ Interest Rate:Â ManyÂ credit cardÂ issuersÂ offer a 0% intro APR for a fixed period of time, allowing you to accumulate debt without interest. This can help if you need to make some essential purchases, but it’s important not to abuse this as you’ll still need to clear theÂ full balanceÂ before the intro period ends.
Use aÂ Balance Transfer:Â If you’re in too deep and the intro rate is coming to an end, consider aÂ balance transfer credit card. These cards allow you to move yourÂ full balanceÂ from one card (or cards) to another, taking advantage of yet another 0% APR and essentially extending the one you have.
Pay the Minimum:Â If you can’t pay the balance in full, make sure you at least pay the minimum. AÂ missed paymentÂ orÂ late paymentÂ can incur fees and may hurt yourÂ credit score.Â
Why Pay More Than the Minimum?
You may have heard experts recommending that you pay more than the minimum every month, but why? If you’re locked into a cycle ofÂ credit cardÂ debt, it can seem counterproductive. After all, if you have a debt of $10,000 that’s costing you $400 a month, what’s the point of taking an extra $100 out of your budget?
Your interest and fees are covered by yourÂ minimum paymentÂ and account for a sizeable percentage of thatÂ minimum payment. By adding just 50% more, you could be doubling and even tripling the amount of the principal that you repay every month.
What’s more, your interest accumulates every single day and this interest compounds. Imagine, for instance, that you have a balance of $10,000 today and with interest, this grows to $10,040. The next day, the interest will be calculated based on that $10,040 figure, which means it could grow to $10,081, which will then become the new balance for the next day.Â
This continues every single day, and the larger your balance is, the more interest will compound and the greater theÂ amount will be dueÂ over the term. By paying more than yourÂ minimum paymentÂ when you can, you’re reducing the balance and slowing things down.
Does Paying the Minimum Hurt MyÂ Credit Score?
Paying theÂ minimum amountÂ every month ensures you are doing the bare minimum to avoid hurting yourÂ credit historyÂ or accumulating fees. However, it can indirectly reduce your score via yourÂ credit utilizationÂ ratio.
YourÂ creditÂ utilizationÂ ratioÂ is a score that compares theÂ credit limitÂ of allÂ availableÂ creditÂ cardsÂ to the total debt on those cards. It accounts for 30% of yourÂ credit scoreÂ and is, therefore, a very important aspect of theÂ credit scoringÂ process.
The moreÂ credit cardÂ debtÂ you accumulate, the lower yourÂ credit utilizationÂ rateÂ will be and the more your score will be impacted. If you only pay the minimum, this rate will become stagnant and may take years to improve. By increasing theÂ payment amount, however, you can bring that ratio down and improve yourÂ credit score.
You can calculate yourÂ credit utilizationÂ score by adding together theÂ totalÂ amountÂ ofÂ creditÂ limitsÂ and debts and then comparing the latter to the former. A combinedÂ credit limitÂ of $10,000 and a balance of $5,000, for instance, would equate to a 50% ratio, which is on the high side.
CanÂ Credit CardÂ Fees Hurt MyÂ Credit Score?
As withÂ interest charges,Â credit cardÂ fees will not directly reduce your score but may have an indirect effect. Cash advance fees, for instance, can be substantial, with manyÂ credit cardÂ companiesÂ (includingÂ Capital One) charging 3% with a $10 minimum charge. This means that every time you withdraw cash, you’re paying at least $10, even if you’re only withdrawing $10.
What many consumers don’t realize is that these fees are also charged every time you buy casino chips or pay for some other form of gambling, and every time you purchase money orders and other cash products.Â
Along with foreign transaction fees and penalty fees, these can increase your balance and yourÂ minimum payment, making it harder to make onÂ time paymentsÂ and thus increasing the risk of aÂ late payment.
Does Paying the Minimum Hurt Your Credit Score is a post from Pocket Your Dollars.
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A well-designed bingo app really hits the sweet spot. Itâs a great way to pass the time and have some fun.
Itâs even better when you can win real money.
An app called Blackout Bingo lets you do just that. This free app lets you play a game you already know and love, plus it matches you with players in your skill level, so you can go head-to-head in tournaments where you can win real money. Plus, the games are quick â about two minutes each, and you can play them on the go.
How to Win Real Money Just for Playing Bingo on Your Phone
You might be thinking this sounds too good to be true. But hereâs the thing: Itâs really not.
Hereâs how it works: Download the free app and create an account, then you can play some practice games to get the hang of it. If you donât already know how to play, this is an easy way to learn. Then, when youâre ready, Blackout Bingo will pair you with one of thousands of other online players at your same skill level. Beginners play beginners; experts play other experts. You and your opponent will both get the same board, so winning is totally skills-based.
The app is free to download, but if you want to play for money, youâll need to deposit at least $10. Then you can play head-to-head in large pools and live tournaments â some tournaments have even paid out prizes as big as $350,000. You can make deposits and get paid via PayPal, credit card or Apple Pay â cashing out is just a matter of seconds.
Blackout Bingo has a 4.5-out-of-5-star rating from more than 40,000 users in Appleâs App Store. As for Skillz, the platform that hosts the game, it operates hundreds of games and has paid out more than $2 billion in prizes so far. Take Shay, from Georgia, for example, who won $10,000 playing Skillz games. The company has invested years into its player-matching technology, ensuring you only compete with players of the same skill level.
Win or lose, you always receive âticketzâ that you can redeem in Skillzâ Ticketz store for cash or prizes, like Amazon gift cards, a 65-inch TV â even a BMW or a Porsche. Seriously. The higher stakes you play for, the more ticketz you receive.
For bingo players, hereâs the most important part: The game is well designed, a classic bingo experience. To get started, just download the free app and start playing your first game immediately. What could you win in a two-minute bingo game?
Mike Brassfield (email@example.com) is a senior writer at The Penny Hoarder. He is familiar with the lure of bingo.
Unfortunately, you canât play for money in the following states: Arkansas, Arizona, Connecticut, Delaware, Indiana, Louisiana, Maine, Montana, South Carolina, South Dakota or Tennessee. However, in those states, you can still play for fun with the gameâs virtual currency.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
I am not sure what to do…I went thru a debt consolidation company and completed in back in 2009..now 8 years later this collection agency is coming after me saying I owe 27,000 on an old debt. Mind you that I have not heard anything nothing notta from this company since 2009 now they are threatening to have a lien on our home..they drained my checking account and have tried 3 other banks to get money which were NOT my accounts they are grasping at straws and I don’t know if there is anything I can do this company will NOT work with me they want full 27,000 now..please help with any advice you may have thanks
Since the National Consumer Assistance Plan went into effect in 2017, public records must meet strict requirements in order to appear on consumer credit reports. Civil judgments and tax liens do not meet these new requirements, so they were removed from credit reports. At this point, the only derogatory public record that should appear on your credit report is bankruptcy. If a tax lien or civil judgment still appears on your credit report, you should dispute that record with the credit reporting agencies.
How Much Do Public Records Affect Credit Scores?
Bankruptcy can cause a FICO score to drop by 200 points or more. A filing may lower credit scores for seven to 10 years and be difficult to remove from a credit report unless any information is inaccurate.
The decision to exclude other public records slightly increased FICO scores for many consumers and resulted in increases of 20 to 40 points in some cases.
Bankruptcies and Your Credit Report
Bankruptcies are the one public record that are still included on your credit report. In most cases, they will remain on your report for seven to 10 years.
You can dispute an inaccurate report of bankruptcy or one being reported beyond the statute of limitations. Review your report for any inaccuracies and contact the credit bureaus to dispute inaccuracies if need be. If a credit bureau claims to have court verification of a bankruptcy, you should send a procedural letter to determine how they verified the public record on credit report. Follow up with the courts to determine whether the bankruptcy was actually verified.
âªÂ Learn more about when and why you should file bankruptcy and how doing so will affect your credit.
Civil Judgments and Your Credit Report
Civil judgments result when a creditor sues you for an outstanding debt and wins. That creditor then has more avenues for pursuing payment: they may now satisfy delinquent or outstanding debt through wage garnishment or by seizing funds from checking or savings accounts.
Judgments are no longer factored into credit scores, though they are still public record and can still impact your ability to qualify for credit or loans. Lenders may still check to see whether any outstanding judgments against a potential borrower exist. You should pay legitimate judgments and dispute inaccurate judgments to ensure these do not affect your finances unduly.
âªÂ Learn more about how to deal with civil judgments.
If a civil judgment is still on your credit report, file a dispute with the appropriate credit reporting agencies to have it removed.
Tax Liens and Your Credit Report
Tax liens are filed by the IRS when you donât pay your taxes. A lien is automatically filed when you owe more than $10,000. When the IRS files a tax lien against you, it essentially gives the agency first dibs on any payment you receive from selling or liquidating your assets to pay your debts.
While tax liens are no longer reported on credit reports, they can significantly impact your financial situation in ways that indirectly affect your credit score.
âªÂ Learn more about tax liens.
If a tax lien is being reported on your credit report, file a dispute.
How to Deal with Derogatory Public Records
Although judgments and tax liens are no longer filed on credit reports or factored into credit scores, these penalties can undermine your financial standing. If a derogatory public record is filed against youâ you should monitor the effects on your credit and ensure that information pertaining to your filing is accurate.
Check your reports regularly to ensure they are fair, accurate and up-to-date. You can watch for changes by getting your free Credit Report Card and credit score monitoring from Credit.com.
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The post What Does Having a Derogatory Public Record on My Credit Report Mean appeared first on Credit.com.
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