Haldimand Auto Collateral Loans And Other Options For Students With Bad Credit - Instant Loans Canada

Blog

Haldimand Auto Collateral Loans And Other Options For Students With Bad Credit

Sep 25, 2013

If you among the students who constantly give in to peer pressure, chances are you are on your way to ruining your credit or more likely you are in it right now. As a student, shopping around using your credit is such a glory. You get what you want with just a swipe of your card. However, what comes with that momentary happiness is the unfortunate reality of ruining your credit status because of inability to pay your credit card fees.

Students’ Financial Options Are Limited

Question is how do you get out of this trap? Do you have options?

A student with some serious debt issues coupled with a bad credit will find himself challenged into looking for financial solutions. Your options are limited because you have no job to back up a loan and you surely have “not enough savings” yet. Aside from the limited options, you rarely are going to find a loan with a considerate interest. Below are your three most favorable options:

Grants-in-Aid. Aside from shopping, your credit most likely comes from your excessive school fees, books and numerous class projects. When it comes to this, your option would be to scout for within school grants-in-aid for students who are financially struggling to make ends meet. Most colleges and universities in Haldimand offer these financial aids to students like you. You just need to grow a thick skin by setting up an appointment with your school registrar to know if you qualify to one.

Haldimand Auto Collateral Loans. If you own a car, you can easily qualify for an auto collateral loan. Use your car as security for the loan. The amount you can loan depends upon the equity of your vehicle. For instance, here in Instant Loans Canada, we offer loans up to $25,000. It is highly recommended you consider this secured loan because this is the only option you’ve got that gives you the lowest interest despite your credit status. Furthermore, terms and conditions for borrowers of auto collateral loans are less strict compared with other loan options.

Seek financial relief from your family. If you are the I-can-do-everything-on-my-own type, going back to your parents for financial help can be the worst idea. However if you have no other options, setting aside your pride can solve your problem. Go to your parents for help as most parents would willingly offer financial aid to their children. Always remember that financial weakness is not always a sign of immaturity. So don’t be ashamed of it.