There is this mindset lurking in the world today; which is that being in debt is a bad thing. No matter how much money you owe or who you owe it to, reality means that we can’t actually access and/or use credit to buy homes, cars, whiteware or even holidays without going into some form of debt.
The underlying issue of this mindset has been caused by consumers simply taking on too much debt and getting themselves into trouble. It’s like a pool of quicksand and all they want is out! Unfortunately for them, the process of trying to ‘swim’ has meant that they have actually ‘sunk’, and by ‘sunk’ we mean deep into debt with the backlash of a nasty looking credit history.
At Linsa Finance they empathise and understand that yearning for Kiwi’s to be debt-free. But they also have the knowledge of how to use credit (debt), such as using a personal loan to your advantage so that you can achieve and have the things that you want in life.
We have a couple of different scenarios that may describe you, followed by some handy hints as to why attaining a personal loan could help attribute to rebuilding your credit history.
No credit history
This means that you are completely new to the idea of borrowing money (for any number of reasons), which means that borrowing money may appear even harder than originally thought. At Linsa Finance, they may be able to offer you a small personal loan to help you establish a credit history. This will be a relationship formed on trust and if proven to be a positive experience may increase the amount of money for future borrowings. The application process is two fold; Linsa Finance will ensure you can afford the repayments by completing a budget, with your job to make the repayments on time. It’s as simple as that! In no time you will be able to increase the amount of credit that you have with Linsa Finance.
Rebuilding your credit rating
You had made the mental and emotional change with learning from your mistakes and are now ready to meet your financial obligations, but alas, no one is willing to give you a chance? Hey, we all make mistakes and have had past experiences that we would much rather forget. If you fall into the category of ‘people who have made mistakes that have had a negative impact on their credit history’, then you need to keep reading because there is light at the end of the tunnel.
At Linsa Finance they are more than willing to try and help you in your quest to move forward. Taking out a personal loan with repayments that you can afford, is a great way to show that you are trustworthy thus establishing your ability to create a positive payment history. Like anything, it may take some time to show your ability and to build that trust, but with a few months of solid, on-time repayments, your credit rating will improve and so will your ability to borrow money.
Many people these days are looking to avoid high interest credit card debt, therefore by using a personal loan to consolidate several credit cards could be a great solution for you! By it becoming a one lump sum, you’ll get a fixed term loan with easy monthly repayments that you can afford.
Making that lump sum payment
Many loans these days – particularly when purchasing items on a ‘fixed term, interest free’ loan, come with lump sum payments that are due at the end of a set time period. Often these come around sooner than we think, with many people finding themselves in the situation where they haven’t put the money aside or have simply forgotten. Instead of missing the payment and having the loan balloon out of control, come in and see the team at Linsa Finance and apply for a personal loan with payments that you can afford. This way, you do not miss the payment and tarnish your clean credit history, whilst at the same time you’ll be improving your overall credit rating.
If you find yourself drowning in debt, using a personal loan to get ahead could be the simplest way forward. The team at Linsa Finance can help you to build or rebuild credit history with a straightforward personal loan that will see your credit rating soar.