Posts Tagged ‘Bank’

Question by thatsmytail: Getting a quick loan without having a bank account?
Is there any place that offers quick small loans with out having to use a bank account. I generally use cash only. I have an emergency and need extra. I do not have a bank account or a savings account. Does anyone offer loans with out having those? Nice, polite answers are greatly appreciated. I am really in a bind here.

I have looked into payday loans. I have not found one that does not require a checking account or a savings account. If you have any ideas let me know.

Best answer:

Answer by James W
Payday loans do not require a bank account. Although, payday loans are generally very expensive so usually not a viable option.

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by Ken Lund

Question by Ari’s Mom: HELP!I need financial advice, I’ve become addicted to taking cash advances from my bank & can’t stop?
My bank lets me take cash advances because I have a direct deposit with them from my job. I’ve become so reliant on it because every paycheck goes to paying off the cash advance and then I have to take out another advance to pay my bills. How do I get out of this mess?

Best answer:

Answer by helpfull
You have to stop someX. The more you do this, you are getting deeper & deeper in the hole. I watched an episode of Singeltary Says where she addessed this very issue.

“Episode 212 – Taming the Predators
Michelle visits a person who has unknowingly falling prey to predatory practices. She highlights the pitfalls of payday check cashing where they take out five to 15 percent of your check, car loans where borrowers end up owing more than the original selling price, credit counseling agencies that are fronts for sub-prime lenders, and other groups that take advantage of those who don’t know their options.”

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by Dustlake

Question by GG: is there a bank that would give loan to poor credit?
Friend needs a loan of 00, is there a bank that would allow him ? His credit is poor.

Best answer:

Answer by fifty
No. Even if he has collateral, he can’t get a loan because the collection process is too expensive. He has to build up his credit first. Banks are looking to make money, not to meet the needs of desperate people.

I worked for a bank and had excellent credit and couldn’t even obtain a mortgage for a cheap studio. The reason was that they didn’t pay me enough to qualify for a mortgage.

What your friend needs to do is build up his credit to the point where he can get a credit card with a high enough limit and then he needs to take a cash advance. MBNA always offers cash advances.

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by theengineofdemocracy

Question by patricia b: auto loans and how they work by using the bank?
we have a truck that we are using the bank to pay the loan for. we need to trade it in for something more economic and cheaper. any suggestions on the best way to go about it?

Best answer:

Answer by ptcruisher2001
they use lenders, some are banks

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Question by khanda1: is orchard bank secured card the only secured card for people with bad credit or new in country?
I am new in US and no credit card company agrees to give me a card, what can I do?
But do all the others report to major credit bureaus? this is the thing I need , to build a good credit for the future ,if the other banks dont report it’s no use for me.

Best answer:

Answer by joecephus
No, several of them will,Capital one–is a good one-better than Orchard

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Question by Mitz: Are there any pay day loan companies that accept bank statements instead of pay stubs?
I applied for a pay day loan with an online company and my application was rejected because I don’t have pay stubs. I own my own business but recently fell short of cash. I won’t bother with the online payday loan companies that claim not to review income at all because they just direct me to scam websites. Anyone know of a good online payday loan company that will give me a loan by just reviewing my bank statements?

Best answer:

Answer by jamie
hi
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Good luck..

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Question by sd_8705: Who is a good bank or credit unoin to refinance your vehicle with?
I need to refinance my car and not sure on who I should go with to submit an application, so I can insure a new, good, low interest rate.

Best answer:

Answer by hmark
A credit union definitely has a better rate, however, you have to meet certain qualifications to join (go to a church, resident of a county, belong to certain groups or your spouse or family member does). Once you find one that you qualify for, you need to fill out an application as you will have to have a checking account with them for at least a period of 6 mos. to then apply for a car loan. This is something you need to begin doing before you can even apply for a car loan. Check online for free credit unions in your state and narrow it down to what you can qualify for. Then apply (they will have certain requirements also).

Good luck.

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Question by Diva: How can you change your current car loan with a bank to another bank?
I am wondering if there is a way to change my current car loan with a bank to another bank with better loan rates??
PLease any help…

Best answer:

Answer by melville tiger
Have your new bank payoff the loan with your old bank.

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by maistora

Question by Steven: Should I finance a motorcycle through a bank or dealer?
I am currently with oregon community credit union on a car loan. Im trying to sell my car to pay off my loan with them. Should I go through them again for a motorcycle loan? or Beaverton Motorcycle?
I’m afraid to go through the dealer because i’ve applied for a guitar center credit card and got turned down. I dont really have credit. I’ve only made one payment on my car. Who should I go through?

Best answer:

Answer by Dani G
Hmmm. Why exactly would anyone lend you money ?

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Question by itskayyteeeee: Can you deposit a Mastercard gift card at the bank?
I received a 0 Mastercard gift card for my birthday. However, I need cash. I’ve read at some websites that you can open a bank account at a place like Bank of America, for example, and use the Mastercard gift card as the opening deposit.

Can anyone verify that?

Is there any way I can use the value of the card as a deposit?
I’m with Wamu right now, so if you know if Wamu would do it, that would be great.

Best answer:

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Question by rachel_ksr: What happens when a bank siezes a hotel due to mortage payment in arrears?
Does the bank try to run the property? Or, will they just lock the doors?
It is an independently owned hotel

Best answer:

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by woodleywonderworks

Question by bayleigh789: Can someone explain the difference between using a mortgage broker, mortgage lender, & a bank for refinancing?
What are the benefits and drawbacks to each? We are refinancing our home.

Best answer:

Answer by bostonianinmo
A mortgage broker matches up borrowers and lenders. They frequently work with borrowers with difficult getting standard financing. Mortgage brokers have to turn a profit somewhere and that usually results in higher fees or interest rates.

A mortgage lender is anyone who lends money for real estate financing. It could be a bank, credit union, finance company, a firm that specializes in mortgages only or even a private investor. The term is too generic to list any benefits or drawbacks.

A bank is just another source of potential funding. Most banks prefer to limit their portfolios to lower risk borrowers though some smaller ones will specialize in their own geographic area and may be more willing to lend to local borrowers with less than sterling credit. Banks are more tightly regulated than some other sources of funds so their criteria has to be somewhat tighter than others.

If your credit is good, you generally should steer clear of brokers. Credit unions and local banks are my preferred source but the big national banks and lending chains like Ditech.com sometimes can offer the best deals. My current refi was with Ditech (a division of GMAC) and was the clear winner at the time that I refinanced but their current best isn’t quite as good as what my credit union is offering.

The short answer is to shop around for the best deal. Don’t worry about multiple applications messing up your credit score, either. Multiple queries for the same product in a 30 to 45 day span of time are scored as a single query and will NOT hurt your score.

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by Center for American Progress

Question by Jan B: where is the best place to get a home equity loan besides a bank?
I have already tried at my bank and was denied. Does anyone know a good tried and true place to get a home equity loan?

Best answer:

Answer by athiker89
If you can be a member of a credit union, that would be a good place. You can go to finance companies as well, but the rates will be very high.

Remember, if you are seeking a home equity loan to consolidate other debt, like credit cards, you are betting your house you’ll pay. It’s not always to use home equity for consumer expenses (”buying a blouse on the house”). Good luck to you.

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by taberandrew

Question by abbignome: Queston about bank law/rules regarding insurance checks.?
Someone backed rather speedily into our car while it was parked and minding its own business along the street. The car, a 96 Lumina, unfortunately was considered totaled and is in barely runnable condition.

We received the check Wednesday morning and eagerly went to our bank to cash the check to go find a replacement before our poor Lumina bites the dust. Thankfully we opted for keeping the car and had the 0 deducted from the settlement amount to keep it or we’d be in a more serious situation now. Our bank refused to give us more than 0 now for the check, stating that it would be at least 5 business days, although the lady quoted us next Friday as 5 days, since we didn’t have enough in the bank to cover it. That was reasonable to us other than her 5 day calculation. We left, check still in our possession.

We decided that we didn’t want to take a chance on a dead car before the check cleared and called my parents, who had enough money in their account to cover the deposit of the check and give us the cash- effectively loaning us the money until the check cleared, which wasn’t something I wanted to do, but the situation called for desperate measures. My mother took me to her bank to do the transaction, I’d endorsed the check and at the window she also endorsed the check to deposit it in her account.

The bank manager came out and explained to Mom that the check was now void because according to her, federal law only allows for ONE signature and “no other marks whatsoever” on insurance checks. Even the teller looked a bit skeptical about this “law”.

The bank manager went on to make a huge fuss about calling the insurance adjuster, loudly demanding to know if it was a legitimate check and then went on to tell him in a rather condescending tone that I’d made a “little boo-boo” in trying to get the cash for my check now when I should have known I’d have to wait several days for the check to clear. After the call, she gave me a long speech about how the law has made it harder than ever to cash checks and that if my bank only made me wait 5 business days they were more than reasonable, she would have held it 11 days. She said insurance checks are the ONLY type of check that can’t be passed off like that. If that’s the case, why don’t they have some notification of that posted so people don’t have to go through the hassle we will. If we hadn’t bought the car back, we’d be without transportation for over a week.

So, my main question is, is there some mystical new law that states that insurance checks can only be signed by one person ever? Second, isn’t there some new electronic check system that was supposed to make check cashing and clearing faster? According to her it’s slower now than ever.

I talked to a car dealer later in the day and he said people come in and sign over insurance settlement checks to him all the time and the same bank, different branch, takes them with no problem. It’s not like Mom’s a stranger there, she and Dad have been with that bank since the 70s, never has bounced a check, keeps several thousand dollars in their bank all the time, and is on a first name basis with the bank manager.

Best answer:

Answer by nadine
Ok, the bank manager was wrong. Generally an insurance check needs to be endorsed how it’s made out, then if you wrote below your endorsement pay to the order of jane doe, jane doe could sign it and it is legit. Insurance companies can be very fussy so it would have been in your best interest to deposit it at your own bank and wait the five days, which is a hold until it clears and is normal procedure due to your balance, or lack there of.

There is a new electronic bank system. But with that, the banking systems are a lot smarter now. They have built in alerts – it’s harder for the bank employee to make a mistake, and their judgement is going to be on the safe side – because it can be a career ender. So it’s faster, yet it’s slower – more holds, more collections, etc.

This is all due to 911, it has changed our world and everything we do. Not to say that this didn’t happen before, it’s just SOP now. And identity theft and fraud are huge in the banking industry. That’s why they have to be careful. I’ve seen dozens of fraudulant items, and I live in a relatively small town.

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Question by CONNIE H: I’m in a financial bind with 6 payday loans. Any advice? Have bad credit cannot get a bank loan to resolve.

Best answer:

Answer by Ultimate Guitar Hero!
You can make payment arangements with the payday loans. That way they wont take you to court!

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