E-Z financing?

Ok, I have bad credit, I mean Bad! I would like a new computer, but none of the manufactures will finance, and I don%26#039;t want to pay $600 over three months to get a computer that is one year old. Should I be leary of companies that offer financing for %26quot;bad credit%26quot;? What is the best, and fastest way to build my credit back to an acceptable level; in order to get financing? I%26#039;ve recieved some credit card offers in the mail, but when I look at the fine print I%26#039;d have a $300 balance before I made my first purchase! Is there REAL help for individuals like me with bad credit?

E-Z financing?rate my

You have two questions - how to repair credit and how to purchase a computer now. The answer to your second question is - you will need to pay cash.

To re-establish credit, you need a history of payments. The easiest way is to get a secured card, where you put money into a savings account, and the credit card line is then the amount in the savings account. Most banks will do this up to about $5000. They bank will do it for anyone who has a verifiable identity (soc sec #, driver%26#039;s license) because they can%26#039;t loose. Every transaction gives them a small fee from the merchants, and if you fail to pay - they just close the card and your savings account - and pay off the debt.

Use that secured card, pay it off each month, and after 12 months you will have made a big dent in re-establishing credit, to the point where they might offer you an un-secured card. Your credit score will need to be above 620 at a minimum for you to get an unsecured card - so if you don%26#039;t qualify at 12 months (minimum time), you will after that once the credit score is good enough.

Yes - those cards where you owe $300 right off the bat are very very bad. You%26#039;d be better off putting $300 into a secured card which will cost you zero in fees, or very close to it.

Your other action must be to pay off anyone who you still owe money to. Those bad accounts will begin to wash away in effect (though still reported) after about 18 months.

E-Z financing?

loan

Many lenders, banks in particular, don%26#039;t deal in any sort of secured loan other than second mortgages. Other institutions deal almost exclusively in secured loans. Finance companies that deal in secured loans can be found in your phone book, newspaper, and increasingly, online.Shop%26lt;!--around and compare interest rates on loans and the terms of repayment with several different lenders. You%26#039;ll find many internet sites that let you request a loan rate quote from multiple lenders at once. You can find more information on bad credit loans here,

http://badcredits.awardspace.com/

Once you%26#039;ve submitted a request for a loan quote, you%26#039;ll be contacted by representatives from several companies--%26gt;and can get a good idea of what each can offer you in terms of interest and other finance charges and fees. Choose the best one for your needs, and apply for the loan. It%26#039;s that easy.