Reverse Home Loan Book

A car loans after a bankruptcy is one way to help build back your credit history. In fact, once your bankruptcy closes, you can apply for a car loan the next day. To get approved with the best rates for your car loan, follow these tips.

Review Your Credit Report

Before you start applying for a car loan, check out your credit report and make sure all your accounts are in order. It is not uncommon after a bankruptcy to see open accounts that should be closed, which hurt your credit rating.

While looking at your credit report, consider adding a page explaining the situation that resulted in your bankruptcy. If there were extenuating circumstances, lenders may approve you for a better rate than under normal conditions.

Plan Your Car Purchase

Before purchasing a vehicle, decide what you can afford in a monthly car loan payment. This will help you decide which financing package is best for you. Both the loan amount and length of payments will determine your monthly payments, so there is flexibility in determining which vehicle you can afford to purchase.

Use A Car Loan Lender

Car loan lenders make their money by finding you a loan. Car loan lenders work with several financing partners to back loans with all types of credit risk, including bankruptcies.

Online car loan lenders deal with thousands of loans, and can usually find you a better deal than your local car dealerships. Online car loan lenders will send you a check when you are approved, basically making you a pre-approved car loan buyer.

Explain Your Situation

Car loan applications will ask if you have ever declared bankruptcy and why. This is your chance to explain what led up to the situation and what steps you have taken to resolve your credit situation. Be sure to include improvements in your financial history too.

Consider Refinancing

Once you are approved for a car loan, keep your eye on future refinancing. By making regular payments on all your bills, in a year’s time you could qualify for significantly lower interest rates. In three years, you can build your credit score to near excellent and qualify for even lower rates.

To view our list of recommended auto loan companies online, visit this page:
Recommended Auto Loan
Companies Online.

By: Carrie Reeder

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If you are a home owner with a pit bull dog, or are considering getting a pit bull, you may be aware that your pet could affect your home insurance. Here are some things to consider.

American Pit Bull Terriers, American Staffordshire Terriers, and Staffordshire Bull Terriers are some of the more popular breeds commonly referred to as pit bulls. Many home insurance companies consider these dogs as a potential liability risk because their owners are often held accountable by law if the dog injures a person. When you purchase a homeowners insurance policy, you receive a certain amount of liability coverage to help pay for lawsuits filed against you.

According to the Insurance Information Institute, dog bites cost the property and casualty insurance industry about $317.2 million in 2005. Because insurers consider certain breeds of dog as a higher risk for a claim, they will often charge higher home insurance rates for pit bull owners.

However, the thing to realize is that each insurance company determines their rates and underwriting guidelines based on several factors that may be unique to that company. Thus rates — as well as tolerance for accepting dogs — can vary quite a bit from company to company. So whether you already own a pit bull, or are planning on getting one, you should get some comparison home insurance quotes. The Insurance Information Institute recommends getting at least three different quotes.

This is easy to do online by requesting quotes from different company Web sites. Or you may want to use an insurance comparison site. These sites don’t represent one company. Instead, you only need to fill out one online quote form, then you get several different quotes back. These sites often use independent agents who will work to find you the lowest quotes.

To further lower your homeowner insurance costs, consider raising your deductible as well as taking advantage of any available discounts.

And finally, the Insurance Information Institute recommends being proactive in reducing your chances of dog bite liability. They recommend spaying or neutering your pet, learning how to maintain control of your dog and properly socializing him or her so they know how to act around other people and animals. Also, talk to a vet about ways to reduce aggressive behavior.

By: Justin Scott

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