Going Back Up After Going Bankrupt

Filing for bankruptcy is a difficult decision that can create ripples in your life for years to come. Even though it’s a tough choice to make, sometimes it’s the only viable option available. After you’ve filed for bankruptcy, it’s time for you to start rebuilding your life and rebuilding your credit. Re-establishing credit after bankruptcy doesn’t have to be as difficult as you think as long as you know what you’re doing.

 

One of the best ways to start rebuilding your credit is to visit a bank or credit union to get a secured credit card. With a secured card, you’ll have to deposit some money for the bank or credit union to hold and in turn they’ll meet the amount of the deposit for your credit limit. Make sure that you do your homework in order to avoid expensive fees that you have to pay upfront. Sometimes banks and credit unions might charge you as much as $200 just to open your secured credit card. You’ll also want to make sure that the credit union or bank that you get your card with reports to the top credit bureaus in order for you to start building your credit back up. If the financial institution doesn’t report to the top credit bureaus, then you’ll want to find one that does.

 

If you aren’t comfortable with a secured credit card, consider an unsecured credit card where you don’t have to put up any of your money in order to open your account. The higher the credit limit on your secured credit card, the better. But again, be sure to find out about upfront fees. In order to quickly re-establish your credit after bankruptcy, make sure that you pay off your credit card every month or within a few months.

 

Getting your financial life back to normal after you’ve filed for bankruptcy is only as difficult as you make it. Educate yourself, take your time and make wise decisions and you’ll be back on solid financial ground before you know it.   If you have gone bankrupt and are looking for a bad credit car loan in Regina, Loan Doctor in Regina can get you approved for  financing.

How To Choose Snow Tires For Your Winter Driving

As a car owner, it might seem impossible to determine how to choose snow tires for your vehicle.  With some basic information on how snow tires differ from all season tires, you will be better informed on what you need to look for in your particular situation.  Here are a few guidelines to help you choose the right tire for your vehicle, your location, and you.

Snow tires are manufactured with different rubber compounds than all season tires, allowing them to remain more flexible in colder temperature than other tires.  This is what allows them to adhere to the road better in icy, cold, and snowy conditions.  Even among snow tires, rubber compounds differ to accommodate a variety of cold weather conditions.  You need to consider the weather where you live to help you assess what kind of conditions you can expect to drive in.

The traction of a snow tire also varies widely, because tire manufacturers want to accommodate the various cold weather conditions people will be driving in.  The design of grooves in the snow tire can make it almost exclusively an all-ice tire; it may be able to handle slush; and some are also designed to be able to handle dry road conditions in between snow and ice storms, as well.

The type of vehicle you drive also makes a difference in how to choose snow tires.  Different snow tires are manufactured to perform optimally with specific types of vehicles, so if you drive a car, crossover, SUV, or truck, you need to make sure you are shopping around for the appropriate snow tire.  Many snow tire styles come in different sizes, but it’s important to make sure you find one that was made for your type of vehicle.

There are a number of factors to consider when you try to decide how to choose snow tires, but the most important thing you can do is to do your homework and be honest about the vehicle you drive and the conditions in which you expect to be driving.  Properly prepared, it’s easy to find affordable and dependable snow tires.

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The Loan Doctor Regina, offers quality used cars and trucks at affordable prices, and if you are looking for car financing, we offer car loans in Regina regardless of any past credit issues.

Tips For Understanding The Engine

Many of our customers tell us that they have little or no experience maintaining the engines of their used cars. These customers are often concerned when they hear unusual noises coming from the engines or when they think their engines are not functioning as efficiently as they once were.

We’re here to reassure all of our used car customers of a few things: first, we have inspected every used car engine of the used cars that we sell to be sure that they are durable and will last for years to come. Second, we have a warranty that covers many issues that are related to issues that can occur on used cars. Often, these issues have to do with normal wear and tear and are simple fixes.

Here are a few engine components that we often have to work on with used cars – and all cars – but that are often covered by warranties:

Radiator

The radiator is located under the hood of your car behind the body. In this engine component, hot coolant enters the radiator, circulates through the radiator system, and is recirculated back into the engine after it is cooled. Radiators can sometimes leak, causing cooling difficulties in the engine. Come on in if you think you have a radiator leak; we’ll take care of that for you right away before your engine overheats.

Fuse box

Like any major electrical machine, the machine has to have electricity to operate. The electricity in a car engine is controlled by a fuse box, which is usually located under the hood with other engine parts, but you may also find the fuse box underneath the dash board of your vehicle. Sometimes fuses blow, which requires that you replace it. We always recommend that customers carry extra fuses with them in case this happens. However, if you feel uncomfortable replacing fuses on your own, please feel free to bring your used car in for our technicians to take a look at it and safely replace any blown fuses.

Valves

You’ll notice that there are several valves in your engine. Valves usually control the air intake and then let out hot gases from exhaust. Sometimes valve covers leak, which may mean that you have a bad gasket or a loose cover.

Loan Doctor, offers car loans in Regina, and bad credit car loans in Regina. We will get you approved for a loan that fits both your budget and your lifestyle

Your Credit and Car Loans, 101

When it comes to getting a car loan in Regina, credit and car loans are intertwined in a way that makes them somewhat codependent. In order to get a great car loan, you’ll need to have great credit. However, in order to have great credit, it’s wise to have a history of car loans that you have successfully managed or repaid.

Here are a few ways that we want our customers to be aware of when it comes to car financing in Regina and credit working together:

How credit is built

Credit is determined by five different factors: payment history, types of credit, amounts owed, new credit, and length of credit history. These five factors all account for varying percentages of a credit score. However, payment history accounts for 35 percent of a credit score – the largest percentage. Payment history means the track record that an individual has developed based on loans that he or she has taken out and then repaid.

In order to develop a track record of repaying loans, it is important to actually take a loan out in the first place. Many people begin to build their credit by taking out small loans, such as a car loan, and then committing to repaying it. When repaying the loan, customers are able to develop positive credit histories.

Starting from zero

It is true for many people that they have no credit because they have a history of paying for cash or simply have not yet needed to take out a loan. However, it is important to develop a credit history so that people can qualify for low interest rates and high loan amounts. For example, if you ever wan to get a home mortgage loan, you’ll need to have good credit to get a good rate. Some people start by opening small accounts, such as credit card accounts – even if they don’t use those credit cards. Taking out a small car loan is also an excellent way to begin to build a credit history that will help you to get a lower interest rate down the road.

Stay positive

It’s important to keep a positive credit score by making wise financial decisions whenever possible. This means that you’ll need to repay your loans if you take them out. You should minimize debt in order to improve your credit score if it is bad. There are other tricks and tips that we are happy to share with you that will help you to get a better credit score and get a better loan. Contact us today for details or more information on getting a bad credit car loan in Regina.