Posts Tagged ‘Co Signer’
No Credit Check Electric Companies
May 24th, 2010 
admin 
Mike Hunter asked:
Most electric companies will run a credit check to determine if a deposit is required when you hook up a new service. The problem with this can be if someone with less than perfect credit, or no credit at all, needs to hook up service, the deposits can be a drain on the bank account. While the local utility companies may require a credit check, there are several things you can do to help minimize the deposit amount. Let’s look at a few alternatives.
Co-Signers
Using a co-signer is going to be the best way to get utilities hooked up without worrying about a huge deposit. If you have a friend or relative that already has utilities hooked up with the electric company in your area, you can find out if they can be used as a guarantor for your account. With this option you may still need to pay a deposit, but it will be much smaller. If you choose to use this option, be sure the person you are asking to co-sign has a good payment history with the electric company and is current on their account.
Pre-Paid Services
Not many states offer this, but a few utility companies do offer pre-paid services. Since deposits can range from $50 to $700 for someone with bad credit, a prepaid solution may be the best option. With this option the customer will place a set amount of money in their account, similar to a prepaid cell phone. When the services start to come close to that amount, the utility company will send a notice, either by mail or email, to alert the customer of the low balance. The customer then has the option to add more money in to their account or the services will be disconnected. There are several benefits to using prepaid services.
A low credit score isn’t a problem Money can roll over during months with low utility usage There will never be any surprises with a utility bill
While pre-paid services aren’t available everywhere, the option is becoming more popular for many utility companies. Since the electric company doesn’t have to spend the time and money tracking down customers who don’t pay their bills, and the customer doesn’t have to worry about a huge deposit, the option is a win-win. Electric companies in Texas, Illinois, Tennessee, and a few other areas have already jumped onboard with this innovative idea. You can contact your local electric conglomerate to find out if the option is available, or will become available in the near future.
Credit Card Security
Just because someone has bad credit, that doesn’t necessarily mean they don’t have a credit card. Often times a utility company will waive the deposit and credit check if you place a credit card on file. Most electric companies will specify that this must be an actual credit card, and not a debit card. This way if you end up defaulting on a payment, they can automatically take the payment from your card. If you don’t have a credit card, look at getting a secured card. Even if you have to fund a secured card with $100, it can still save you money. This may end up costing you a little bit in credit card fees, but it can save you hundreds of dollars in deposits.
Direct Debit Payment Options
Many companies, not just electric companies, will waive a credit check and deposit if you are willing to sign up for direct payments. With this option the money for your bill will be deducted automatically every month from your checking account. Since the money is being paid automatically, the utility company doesn’t have to worry about a bill going unpaid. When you call to set up service, it never hurts to ask if they have this option available. Just be sure you have the money to cover it every month or you will face overdraft fees from your bank, collection fees from the utility company, and other consequences.
Use Your Landlord
If you are renting, many times a landlord will be willing to keep the utilities in their name. This can be a benefit to both parties. The landlord never has to worry about utility services being cut off due to non payment, and you won’t have to mess with trying to get things in your name. Many localities can and will, condemn a house for lack of electricity or water, so this is a benefit to the homeowner to keep the services in their name. If you are unsure, you can simply ask the landlord when you sign your lease if this is a possibility. The money for the bills can just be added on to your rent.
Having bad credit is a fact of life for many people. With bad credit comes additional deposits, securities, and other headaches. If you are moving and need to have electricity turned on, you may not have many options to avoid the deposit. You can always call the local electric company to find out what they are looking for, and if your credit will be assessed. It’s best to do this before the move in date so you aren’t hit with any surprises down the road.
Melanie
Most electric companies will run a credit check to determine if a deposit is required when you hook up a new service. The problem with this can be if someone with less than perfect credit, or no credit at all, needs to hook up service, the deposits can be a drain on the bank account. While the local utility companies may require a credit check, there are several things you can do to help minimize the deposit amount. Let’s look at a few alternatives.
Co-Signers
Using a co-signer is going to be the best way to get utilities hooked up without worrying about a huge deposit. If you have a friend or relative that already has utilities hooked up with the electric company in your area, you can find out if they can be used as a guarantor for your account. With this option you may still need to pay a deposit, but it will be much smaller. If you choose to use this option, be sure the person you are asking to co-sign has a good payment history with the electric company and is current on their account.
Pre-Paid Services
Not many states offer this, but a few utility companies do offer pre-paid services. Since deposits can range from $50 to $700 for someone with bad credit, a prepaid solution may be the best option. With this option the customer will place a set amount of money in their account, similar to a prepaid cell phone. When the services start to come close to that amount, the utility company will send a notice, either by mail or email, to alert the customer of the low balance. The customer then has the option to add more money in to their account or the services will be disconnected. There are several benefits to using prepaid services.
A low credit score isn’t a problem Money can roll over during months with low utility usage There will never be any surprises with a utility bill
While pre-paid services aren’t available everywhere, the option is becoming more popular for many utility companies. Since the electric company doesn’t have to spend the time and money tracking down customers who don’t pay their bills, and the customer doesn’t have to worry about a huge deposit, the option is a win-win. Electric companies in Texas, Illinois, Tennessee, and a few other areas have already jumped onboard with this innovative idea. You can contact your local electric conglomerate to find out if the option is available, or will become available in the near future.
Credit Card Security
Just because someone has bad credit, that doesn’t necessarily mean they don’t have a credit card. Often times a utility company will waive the deposit and credit check if you place a credit card on file. Most electric companies will specify that this must be an actual credit card, and not a debit card. This way if you end up defaulting on a payment, they can automatically take the payment from your card. If you don’t have a credit card, look at getting a secured card. Even if you have to fund a secured card with $100, it can still save you money. This may end up costing you a little bit in credit card fees, but it can save you hundreds of dollars in deposits.
Direct Debit Payment Options
Many companies, not just electric companies, will waive a credit check and deposit if you are willing to sign up for direct payments. With this option the money for your bill will be deducted automatically every month from your checking account. Since the money is being paid automatically, the utility company doesn’t have to worry about a bill going unpaid. When you call to set up service, it never hurts to ask if they have this option available. Just be sure you have the money to cover it every month or you will face overdraft fees from your bank, collection fees from the utility company, and other consequences.
Use Your Landlord
If you are renting, many times a landlord will be willing to keep the utilities in their name. This can be a benefit to both parties. The landlord never has to worry about utility services being cut off due to non payment, and you won’t have to mess with trying to get things in your name. Many localities can and will, condemn a house for lack of electricity or water, so this is a benefit to the homeowner to keep the services in their name. If you are unsure, you can simply ask the landlord when you sign your lease if this is a possibility. The money for the bills can just be added on to your rent.
Having bad credit is a fact of life for many people. With bad credit comes additional deposits, securities, and other headaches. If you are moving and need to have electricity turned on, you may not have many options to avoid the deposit. You can always call the local electric company to find out what they are looking for, and if your credit will be assessed. It’s best to do this before the move in date so you aren’t hit with any surprises down the road.
Melanie
Posted in Finance 
Tags: Amount Of Money, Bad Credit, Co Signer, Credit Score, Credit Solution, Email, Guarantor, Mail, Payment History, Perfect Credit, Pre Paid Services, Prepaid Cell Phone, Prepaid Services, Surprises, Time And Money 
Comments OffIs a co-signer or credit check required with a Stafford Loan?
April 28th, 2010 admin 
Tony J asked:
I have qualified for both sub and unsub Stafford Loans. Are they going to check my credit or require me to have a co-signer? Someone told me it depends on the lender. Is this true?
Virginia
I have qualified for both sub and unsub Stafford Loans. Are they going to check my credit or require me to have a co-signer? Someone told me it depends on the lender. Is this true?
Virginia
Posted in Transfer Balance Tags: Check Loan, Check My Credit, Co Signer, Credit Check, Stafford Loan, Stafford Loans, Unsub 4 Comments »How do cell phone plans with co-signers work in terms of credit check?
April 14th, 2010 admin 
Josh M asked:
I’m looking to start a phone plan (any carrier, I’m not picky..) but I’m 17. I have people who are willing to co-sign for a contract but they do not have good credit.
I’m looking to start a phone plan (any carrier, I’m not picky..) but I’m 17. I have people who are willing to co-sign for a contract but they do not have good credit.
My question is, if they do a credit check… will it be all on me? Or will they decline the plan because the co-signer has poor credit?
HORACE
Posted in Cell Phones & Plans Tags: Carrier, Cell Phone Plans, Co Signer, Credit Check, Poor Credit 1 Comment »No Credit Check Loans – The Facts
March 18th, 2010 admin 
James Copper asked:
For someone with bad credit, getting a loan can seem impossible. There are no credit check loans out there, though, that can help a person who has bad credit get the money they need.
However, finding a no credit check loan is not easy. Additionally, there are plenty of scams out there regarding no credit check loans. Before you decide to sign for a no credit check loan, you should get to know more about them.
A no credit check loan may seem ideal. If the lender does not check your credit then they will never know you are a liability. Of course, the lender is well aware of the risk they are taking. That is why most no credit check loans are set up as if every borrower has bad credit. The loans come with high interest rates and many times require a co-signer.
Lenders are aware that by not checking credit they are likely going to get applicants who have bad credit. People with good credit would just go get a traditional loan because the terms of the loan are better. With a no credit check loan the bank is going to set the terms to be high interest and usually a short payback time.
They may also bee especially critical of your finances, including how much income you make per month and your average monthly expenses. They are wanting to make sure that you could afford the loan payment.
One of the most popular no credit check loans is a payday loan. This type of loan is a short term loan, usually no more than two weeks. It is basically an advance of your paycheck. The lender will look over your recent pay stubs to determine the amount of the loan. With these loans, though, the interest rate is typically very high, much more so then with a traditional loan.
When you are shopping for a no credit check loan it is important to look at a few different places. Shop around and try to find the lowest interest rate and the best terms. Dont just settle for the first lender that offers you a loan. It is important to keep in mind that the higher the interest rate, the more you will pay back in the end.
No credit check loans can be a lifesaver for someone who needs extra money, but has bad credit. They are not a good idea for someone who has good credit, as the alternatives are much better. A no credit check loan should be used responsibly and handled as you would any other extension of credit.
Always read all the information given to you by the lender to ensure you completely understand the loan terms. No credit check loans often have many fees associated with them, along with the high interest rate. You do not want to end up paying too much for your loan.
DEWEY
For someone with bad credit, getting a loan can seem impossible. There are no credit check loans out there, though, that can help a person who has bad credit get the money they need.
However, finding a no credit check loan is not easy. Additionally, there are plenty of scams out there regarding no credit check loans. Before you decide to sign for a no credit check loan, you should get to know more about them.
A no credit check loan may seem ideal. If the lender does not check your credit then they will never know you are a liability. Of course, the lender is well aware of the risk they are taking. That is why most no credit check loans are set up as if every borrower has bad credit. The loans come with high interest rates and many times require a co-signer.
Lenders are aware that by not checking credit they are likely going to get applicants who have bad credit. People with good credit would just go get a traditional loan because the terms of the loan are better. With a no credit check loan the bank is going to set the terms to be high interest and usually a short payback time.
They may also bee especially critical of your finances, including how much income you make per month and your average monthly expenses. They are wanting to make sure that you could afford the loan payment.
One of the most popular no credit check loans is a payday loan. This type of loan is a short term loan, usually no more than two weeks. It is basically an advance of your paycheck. The lender will look over your recent pay stubs to determine the amount of the loan. With these loans, though, the interest rate is typically very high, much more so then with a traditional loan.
When you are shopping for a no credit check loan it is important to look at a few different places. Shop around and try to find the lowest interest rate and the best terms. Dont just settle for the first lender that offers you a loan. It is important to keep in mind that the higher the interest rate, the more you will pay back in the end.
No credit check loans can be a lifesaver for someone who needs extra money, but has bad credit. They are not a good idea for someone who has good credit, as the alternatives are much better. A no credit check loan should be used responsibly and handled as you would any other extension of credit.
Always read all the information given to you by the lender to ensure you completely understand the loan terms. No credit check loans often have many fees associated with them, along with the high interest rate. You do not want to end up paying too much for your loan.
DEWEY
Posted in Non Fiction Tags: Bad Credit, Check Loan, Co Signer, Different Places, Getting A Loan, High Interest Rates, Lenders, Loan Payment, Monthly Expenses, Pay Stubs, Payback Time, Paycheck, Payday Loan, Scams, Short Term Loan Comments OffNo Credit Check Signature Loans – a Real Convenient Loan
November 30th, 2009 admin 
Mathew Kenny asked:
Modern life style has changed the dynamics of lending and borrowing. This is an age of instant loans, loans granted with as less credit check as feasible, loans with minimum risk for the borrower, loans having maximum flexibility, loans with least paperwork and hassle. All these take shape in the No credit check signature loans- the loans for the present, future and always.
About it:
As the name suggests, this loan comes with the least credit check possible and is as spontaneous in processing as the time you take for your signature. No credit check signature loans are provided entirely on the receipt of a signed activation letter. Therefore, you don’t need a co-signer or collateral for it. For the most part, no credit check signature loans are payday loans.
Your purpose:
You can have any reason to go for a No credit check signature loan. It isn’t hard to envision the kind of emergency that might cause you to seek this kind of financing. Student college loans, home remodeling, vehicle repair, dream vacation, a medical expense not covered by insurance, debt consolidation – all can be funded by No credit check signature loans. Even this loan for students can offer financial funding to suffice the increasing cost of education.
Options and specifications:
The maximum amount available with a no credit check signature loan is £10,000.Lenders can offer you a loan amount of £15,000, if your circumstances concur with the requirements. The loan amount also depends on the borrower’s ability to repay. The repayment tenure for no credit check signature loans is usually 60 months.
Being almost a payday loan, looking at repayment history is not that important because the lender will receive his money when the next paycheck arrives. Also, if an account is running close to empty after the bills are paid, this may cause problems for the borrower.
IVAN
Modern life style has changed the dynamics of lending and borrowing. This is an age of instant loans, loans granted with as less credit check as feasible, loans with minimum risk for the borrower, loans having maximum flexibility, loans with least paperwork and hassle. All these take shape in the No credit check signature loans- the loans for the present, future and always.
About it:
As the name suggests, this loan comes with the least credit check possible and is as spontaneous in processing as the time you take for your signature. No credit check signature loans are provided entirely on the receipt of a signed activation letter. Therefore, you don’t need a co-signer or collateral for it. For the most part, no credit check signature loans are payday loans.
Your purpose:
You can have any reason to go for a No credit check signature loan. It isn’t hard to envision the kind of emergency that might cause you to seek this kind of financing. Student college loans, home remodeling, vehicle repair, dream vacation, a medical expense not covered by insurance, debt consolidation – all can be funded by No credit check signature loans. Even this loan for students can offer financial funding to suffice the increasing cost of education.
Options and specifications:
The maximum amount available with a no credit check signature loan is £10,000.Lenders can offer you a loan amount of £15,000, if your circumstances concur with the requirements. The loan amount also depends on the borrower’s ability to repay. The repayment tenure for no credit check signature loans is usually 60 months.
Being almost a payday loan, looking at repayment history is not that important because the lender will receive his money when the next paycheck arrives. Also, if an account is running close to empty after the bills are paid, this may cause problems for the borrower.
IVAN
Posted in Loans Tags: Co Signer, College Loans, Cost Of Education, Credit Check, Dream Vacation, Home Remodeling, Instant Loans, Maximum Flexibility, Medical Expense, No Credit Check Signature Loans, Paycheck, Payday Loan, Repayment History, Signature Loan, Take Shape Comments Off
