March 2022


Debt consolidation is an ingenious debt management strategy that permits you to amalgamate several debts into one payment. It’s an intelligent tactic as a single account is easy to manage. Moreover, if you’ve more than average interest rates because of bad credit, it could reduce your average rates and consult a Unsecured Credit Debt Lawyer.

One of the conventional approaches to consolidating debt is applying for a debt consolidation loan. 

Taking out Bad Credit Debt Consolidation Loans can be a daunting task. However, there are numerous ways to increase your chances of loan approval.

Without further ado, let’s delve into the ways of getting a debt consolidation loan with bad credit!

Steps to Obtain Debt Consolidation Loans with Bad Credit

If you’re suffering from debt and believe that a debt consolidation loan can help, you must meet basic requirements. The pre-requisites are a credit score in the mid-600s, a history of timely payments, and an adequate income. Nonetheless, every lender has its own set of demands.

Follow the below-mentioned steps to get bad credit debt consolidation loans by boosting your chances of approval.

Track your Credit Score

Lenders approve your loans primarily based on the credit score. Usually, the higher your credit score, the more interest rates they’ll propose to you. 

The minimum credit score lenders traditionally ask for lies around 650. Nevertheless, a few bad credit lenders allow a score as low as 580.

Many financial institutions provide tools to track your credit score. Once you’re aware of your score, it’s easy to recognise the lenders you can go up to; apart from lenders who work with bad credit, list the minimum requirements on their websites.

Keep your Research Extensive

It’s never a good idea to accept the first loan offer. Hence, do proper research by comparing loan amounts, repayment terms and fees of multiple banks. Although it’s a time-consuming process, you might save a significant amount of money.

The most sensible methods are looking up online lenders, checking their demands, or knocking on the door of offline banks. 

Furthermore, the banks you have a good relationship with are a must-try because they might be willing to approve your bad credit scores.

Explore the Option of a Secured Loan

Personal debt consolidation loans are not secured. In simpler terms, they don’t require collateral. If you’re having trouble seeking approval for unsecured bad credit debt consolidation loans, you should explore secured options. 

They require a certain kind of collateral such as a house, vehicle or other assets. In addition, the collateral should be valuable enough to cover the loan in case of a default.

Because of the same reason, it’s easier to receive approval on a secured debt consolidation loan with bad credit.

Gradually Improve your Credit

It would help to pay your debts timely for a few months. Paying down credit balances and cutting down unnecessary expenses is also advisable. Lastly, it’s always competent to review your annual credit reports to monitor progress.


The need for debt consolidation may vary from person to person. If you’re not eligible for bad credit debt consolidation loans with lower interest rates, you should consider alternatives. These options include a Debt Management Plan (DMP), home equity and DIY fixes. If you’ve tried everything else, taking time and reducing your credit score is your last option. 

Purchasing any kind of insurance is meant to be a safeguard to protect you from life’s unexpected events. There are several types of policies to protect various aspects of your life, from health insurance to auto insurance. Life insurance is designed to help you create a secure future for your spouse, children, or other beneficiaries should something happen to you.

So, how do you know which life insurance policy is right for you? Before you decide on any plan, it is always best to do your research and compare different policy and coverage options. There is an abundance of quality policies from reputable companies like Banner Life Insurance that you should investigate. Aside from this, however, there are some basic things to consider when shopping for life insurance. Let’s take a look at a few things to think about when determining which plan might be best for you.


If you have ever heard the saying that cheaper isn’t always better, this definitely applies to life insurance plans. While premium rates will be a major consideration for many people, it is important to remember that not all policies are equal. The best life insurance policy and coverage for your needs might not always be the cheapest plan available. Comparison shopping is the best way to find a policy that offers both quality coverage and affordability.

When you are shopping for life insurance, the provider will evaluate your situation and base your premium on your perceived risk as a policyholder. Insurance companies consider several factors when offering coverage. Your life insurance policy rates will be based on things like your age, gender, medical history, and lifestyle choices. If you are older or have a pre-existing condition, you may have higher premiums. Additionally, if you are a smoker, you will also have increased premiums due to the associated health risks. In general, the younger and healthier you are, the lower your premiums will be. It will be important to shop around and find a policy with affordable rates if you have any risk factors.

Type of Insurance

Life insurance policies come in many shapes and sizes. You will need to select a term life policy or a permanent plan like whole life insurance, depending on your situation. As the name suggests, term life is a temporary policy that offers coverage for a certain period of time or term. You can find a term life policy covering 10 years through 25 or 30 years. Term life plans are usually the cheapest life insurance policies and can offer coverage through the time you have dependent children, a mortgage, or other financial obligations.

A permanent policy such as whole life or universal life will offer coverage as long as you continue to make premiums payments. Aside from permanent coverage, these types of policies also accrue cash value over time and can be used as a source of funds later. Choosing the right life insurance policy will be determined by your goals and financial situation.

Coverage Amounts

The amount of coverage you need will depend on the circumstances of your specific situation. Many experts suggest purchasing a policy that is worth six to 10 times your annual salary. Raising and educating children is expensive, however. If you have several children, you may need to consider a life insurance amount that could cover care and education for each child should something happen to you. You need to consider your obligations and financial situation when choosing a policy. The insurance plan that is right for you will be a policy that offers the right amount of coverage for your needs.It is essential that you choose the right life insurance plan to ensure that your needs are taken care of. Comparison shopping and researching will help you find the right coverage for your situation.

A multifamily bridge loan is financing obtained by commercial property owners to cover when they receive the loan and the moment they utilize the property as initially planned. Commercial real estate and multifamily bridge loans are issued for repayment within three months to three years, but most land at 12-24 months.

Uses of Bridge Loans

Multifamily bridge loans are mostly used to quickly buy a property when there is no option for cash. The main advantage of multifamily bridge financing is that they close quickly and are issued based on the property’s value. Other loan types often rely on the income generated by the property and some heavy analysis. Due to the lack of analysis, multifamily bridge loans close much quicker than conventional loans. But, this comes at a cost. Multifamily bridge loans lenders charge high-interest rates for the loan, which can be as high as triple or quadruple the market rate for traditional financing.

You could also approach multifamily bridge lenders for a loan to rehabilitate or stabilize a property as you wait to obtain conventional financing. The multifamily bridge financing obtained keeps the property on schedule while completing necessary upgrades and then leasing the property. This also applies to other types of properties such as office and retail.

Advantages of Bridge Loans

  • Speed of closing: You can obtain multifamily bridge financing within a few weeks.
  • Underwrite the property: A hard money lender underwrites properties instead of individual borrowers. The loan is evaluated based on the eventual sale price of the property.
  • Interest-only payments: Sometimes, multifamily bridge loans lenders offer investors a specific period where they only pay the loan interest, not the principal. This provides an investor with maximum flexibility and cash flow during uncertain times.

Disadvantages of Bridge Loans

  • Variance in interest rate: When you obtain a loan from a hard money lender, you receive a fixed interest rate; however, you don’t lock in a longstanding interest rate.
  • Bridge loans are short-term as they usually last for a period not exceeding 24 months.

In Closing

Bridge loans are essential in various commercial real estate areas, such as multifamily. Property owners sometimes require a temporary loan to keep going while waiting for a mortgage. A hard money lender helps many investors avoid foreclosure through bridge loans. If you want to know more about bridge loans, i Fund Cities is here to help. Visit our website or talk to any of our loan officers.

For people who are new to the real estate investment world, there’s one common question that we hear quite often: Is a foreclosure a good investment? After all, isn’t it an easy way to profit by house flipping? While it certainly might seem that way, our team here at Wilshire Quinn is here to tell you that buying a foreclosure isn’t all that simple. 

As a leader in capital markets, our lending experts can work with you to help you decide if a foreclosure property is a good investment. Keep reading to learn the advantages and disadvantages of investing in a foreclosure: 

Advantage: Foreclosed Properties Are Below Market Value

To start with the obvious, foreclosed properties are purchased below market value. Banks are looking to sell foreclosed properties as quickly as possible, and the best way to do this is to offer them for less than they’re worth. 

Naturally, this opens the door for the possibility of investors turning large profit margins. Every real estate investor is open to cutting back on expenses, and purchasing foreclosed properties is an easy and straightforward way to do just that. 

Disadvantage: Foreclosed Properties Can Be Neglected

Foreclosed homes and properties usually come from distressing situations. Although this lowers their market value at purchase, it often means they are purchased in less-than-ideal condition. As a result, investors should be prepared to undergo more repairs and improvements than they would a regular property. 

Advantage: Better Financing Opportunities

Foreclosed properties are great opportunities for investing, and investors are able to secure hard money loans or bridge loans. Additionally, since foreclosure properties are sold for less than market value, they require lower monthly payments. This is especially beneficial for beginning real estate investors who do not yet have a lot of capital. 

Disadvantage: High Competition 

As you can probably imagine, a lot of investors want to get their hands on foreclosure properties. Since these properties are below market value, many investors compete for the same property, which can easily lead to a rejected offer. Furthermore, multiple offers drag out the buying process, so it might take longer than desired for you to acquire the property you’ve got your eye on. 

Advantage: High ROI and Potential Appreciation

One of the main factors determining a property’s return on investment (ROI) is its initial cost. In real estate, the lower the purchase price, the higher your ROI could be. Since foreclosed properties are sold for lower than market value, they generally guarantee a higher ROI. 

On a similar note, as investors make renovations and improvements to the property, its market value will rise. That way, not only will the initial ROI be higher, but there will also be higher real estate appreciation. 

Premier Hard Money Lenders in California 

So, is a foreclosure a good investment? Well, it depends. If you can acquire the property for a good price and it requires minimal renovation, then it might be. However, on the other hand, if you pay quite a bit of money for a property that requires a lot of upkeep, you might be better off browsing the regular real estate market. 

If you’re interested in investing in a foreclosure property, visit our website. At Wilshire Quinn, we provide rapid and reliable funding for those looking to invest in commercial and residential real estate in California. As a leader in capital markets for almost 20 years, we are confident in our ability to help you. Contact our lending experts today to learn more about what we can do for you. 

This might not be common knowledge but the best prepaid cards function like a combination of a checking account and a credit card. In most cases, they are provided by bank holding companies. In addition, they are branded by established financial institutions.

Before using your best prepaid cards, you have to load money onto the card first. Just like a credit card, you can use your prepaid cards for online and merchant transactions and ATM withdrawals. Also, just like most credit cards, the best prepaid cards are accepted and honored where most credit cards are accepted.

While prepaid cards have a few common features that are similar to credit cards especially when it comes to functionality, its financial features are more identical to that of a checking account. What this means is any amount that is deducted or withdrawn is deducted directly from the balance that is available on your prepaid card.

Fast Facts About Prepaid Cards

Are you considering getting a prepaid card? Below are some fast facts about prepaid cards you need to know:

  1. Many consider prepaid cards as awesome alternatives they can use for common transactions that will require the use of credit cards. That said, prepaid cards can be very valuable for people who don’t have access to banks as well as those who have little to no knowledge in terms of how they can be used and how they work.
  2. Prepaid cards are also considered the ideal alternatives for those who have no access to banking services. They are also great financial tools for those who have been locked out of the banking system because of their poor credit scores.
  3. Those who like to give out gift cards as tokens would be glad to know that prepaid cards would be much better alternatives thanks to their awesome features. For instance, some prepaid cards offer benefits that are offered by most credit cards like protection in the event of theft or loss.
  4. Oftentimes, you cannot use cash to pay for online products and services. The good thing is prepaid cards can be used to pay for most transactions you will do online. Unlike gift cards, you can use your prepaid cards to withdraw money from the ATM.
  5. Thanks to the peerless benefits they offer, prepaid cards have become one of the fastest growing niches in the financial space. Many experts predict that the number of prepaid cards sold will reach as much as 22 percent yearly from 2015 to 2020. It has also been predicted that the total amount that will be loaded to prepaid cards will amount to as much as $116 billion by 2020.
  6. To pick the best prepaid card that will suit your needs, it is recommended that you analyse your spending habits thoroughly. From there, you can easily choose a card that will charge less in areas/transactions where you are likely to be charged often. For example, if you use your card often for various transactions, it would be smart to opt for a prepaid card that will waive fees as soon as you exceed the number of transactions allowed.
  7. Another important tip you should remember is this: when looking for a prepaid card, find one with a structure you can easily understand. You have to keep in mind that some providers of prepaid cards use a flat-free model while others will charge users for most card transactions. Meticulously analyse your monthly transactions using your prepaid card so you can assess if a flat-free model would suit you best.