If youâ€™re like many Americans, then your 2016 got off to a rocky start. After the holidays which were already tough on your budget you were hit with a series of unforeseen expenses. Maybe it was an urgent home repair involving an essential appliance. It could be that the car you depend upon to get to work each day requiring immediate servicing. Or perhaps it was a chain of little expenses like a cell phone overage, a higher-than-average utility bill, and a parking ticket that culminated into a total that put a strain on your finances. Whatever it was that got you here, it doesnâ€™t feel good. Luckily, itâ€™s not a permanent condition. You may not be able to control lifeâ€™s surprises, but you can make sure youâ€™re prepared to handle them.
A personal line of credit can be your strategy to manage financial hardships. As a popular loan option, plenty of your fellow Americans before you have successfully used these credits to pay off surprise debts. Working similarly to any of the credit cards you may have in your wallet, a line of credit is a limited amount of money that you can choose when (or if) to use on whatever you like. You only have to repay the money, and related fees, that youâ€™ve used according to an established timeline. Should you obtain a line of credit at the beginning of the year and not use it until spring, youâ€™ll receive no penalty. Interest will only start to incur when youâ€™ve touched your allotted credit.
Previously, lines of credit were unattainable to many in your position. When issued by a bank, these loans required good credit history and sometimes even collateral to secure. It can be difficult to come up with either of those if youâ€™ve recently hit hard times. Fortunately for those in this position, the bank is no longer the only option for credible personal lines of credit. State licensed direct online lenders now offer reliable loans for those who have neither good credit nor collateral to their name.
All that you need in order to apply is American citizenship (or permanent residency). You must also be over 18 with a valid bank account, source of income, and email address. These are all that a direct online lender requires in order to accept your application; however, before you complete any application, you should thoroughly research the lender in question. Contrary to their conditions, the standards that you hold these lenders up to should be much higher.
Responsible borrowing includes ensuring the lender youâ€™ve chosen is legally allowed to do business in your state. The federal government as well as your individual state has implemented specific laws to protect you against usury. Itâ€™s important that you find a direct online lender that can produce its license, as this certificate proves that their loans, terms, and conditions are all in accordance with your stateâ€™s laws and regulations. If you live in Maryland, Missouri, or Kansas, then you should check out the lines of credit available at Moneykey.com/line-of-credit-loans-online.php. As the state licensed direct online lender for these three states, they can offer fair and flexible options that encourage financial responsibility.
As long as you find a trustworthy direct online lender that can offer responsible lines of credit, you can right the wrongs of the New Year and set yourself on course for a financially sound 2016. So find the licensed direct online lender in your state to find a personal line of credit that can help you.