Get Approved For Your Fresh Start Loan Online Today
A fresh start loan may be just what the doctor order to cure your financial worries and woes
. If you have a stack of unpaid bills piling up on your desk, the time is right for you to consider a fresh start loan with an online lender who can offer you fast service, reduced paperwork, increased approval rates, and a lower rate of interest - all from the comfort of your own home without a stuffy banker scrutinizing every detail of your financial history at the local bank.
Fast Online Fresh Start Loans
Getting an easy approval fresh start loan is a great way to keep more of the income that you bring home in your pocket instead of sending out every penny you can scrape together to keep yourself out of bankruptcy. The way that a fresh start loan is structured allows you to get a complete fresh start on your combined existing debt by taking out a new loan with a new lender who in turn pays off all of your existing creditors. This gives you an immediate reprieve from middle of the night phone calls from bills collectors and other embarrassing collection tactics that you might be enduring in your current situation.
You will make just one loan payment on your fresh start loan that represents a payment on everything and everyone that you owe. Fresh start loans are great for starting over - thus the name, fresh start loans. A fresh start loan has the added benefit of allowing you to pay only the principle that is owed on your existing debts, sparing you from the interest that would have been assessed on the loan with your original lender and halts late payment fees and penalties in their tracks.
Choosing An Online Lender For Your Fresh Start Loan
There are some things that you want to look for when shopping for an online lender for your fresh start loan to get the best fresh start loan possible for your particular situation. The most important consideration is the interest rate that you can receive for your new fresh start loan. By getting a low, fixed rate of interest, you keep your monthly payments to a minimum.
Always elect for a fixed rate as a variable rate of interest can fluctuate over time and with changing market conditions. Look for the most favorable terms that suit your ability to repay your fresh start loan servicer, and only agree to a payment amount that is truly within your range of affordability. As a general rule, the longer it takes you to repay your lender, the costlier the fresh start loan will be and the smaller the payments on the fresh start loan will be.
The flipside of that is that the shorter term available for repayment, the lesser the interest rate and greater the payment that you must meet each month. According to your own personal circumstances, decide whether you want smaller payments spread out over the course of a longer period of time (more expensive option) or larger payments over the course of a shorter period of time (less expensive option), and look for a lender who is willing to meet these terms.
by: Amanda Hash
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