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Christmas Loans For People With Bad Credit

Updated on December 1, 2010

Santa comes every Christmas regardless of financial situations, well that is the story that your kids believe. The last couple of years have seen some financial challenges for most moms and dads. This year some parents might be looking at getting Christmas loans to bring the joy and enjoyment that kids look forward to each year. There are several locations locally that you can obtain a seasonal loan such as this, and it might be wise to start this process in the summer before the holidays to get everything purchased and your loan paid off or close to it before the big day.

Christmas Loans With Bad Credit

Banks and credit unions are the most likely candidates for getting money for Saint Nicks big day, and you will need to visit the more high-risk money lenders. Payday loan locations are very familiar with this type of transaction, and usually can lend you from five hundred to one thousand dollars if there are some basic requirements in place. You will need a steady job, and they usually like to see you have been at your current employer for six months or more. A checking account is always going to needed as the loan company is going take your payments via a bank draft, which is a paperless transaction, and the money goes straight in their bank account. Christmas payday loans are a great way to make your holidays a happy one for the kids, but keep the loan as low as possible to make repayment easier and not such a financial burden to the household budget.

Money For Xmas Gifts

Loan For Christmas Gifts
Loan For Christmas Gifts

Christmas Loans With Car Title Loans

If you do not qualify for the above type loan then research a car title loan that will convert the equity of your automobile into loan for Christmas. You do not even need a clear title to qualify for this type of note, and as long as you have paid on your vehicle for a period that has allowed you own some partial value it will be enough for the loan approval. The wonderful apart about this type of transaction is that you get to keep your vehicle while making the loan repayment. The credit company will hold your car title, and if you by chance default on the loan, it will then have a lien placed on your vehicle. This means that you cannot sell the vehicle until their claim has been paid in full.

Loans for Christmas have become popular even with pawn shops and they will offer similar loan scenarios for you to use your car note, or even just leaving the vehicle itself for collateral. It is exciting to know that there are alternative businesses that offer loans for the holidays, but they are business to make money (just like you are), and you will need to do some shopping and researching to see who is offering the best deal on this loan type. There is not only a compound interest to take into consideration but administrative and even payment fees (yes, the charge for you to give them money). Just grab a notepad and pencil, and take notes when calling each lender to see which one has the least red flags involved in borrowing money.

Payday Loans For Christmas

Next year consider opening a Christmas club savings account at your local bank, this will preclude the need for you get loans in the future if you just put back ten to thirty dollars a week through out the year. Another way to get the money you need for xmas gifts is to get a part-time job in the evenings for three months prior to the holiday season. Just make sure you bank the money and not use it for everyday items, as it will slip through your fingers easily. You can realize about three thousand dollars toward your gift giving budget with your pizza delivery job in ninety days, and that is working at least four hours a night, and eight hours on each day of the weekend.


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    • glassvisage profile image

      glassvisage 7 years ago from Northern California

      Huh, I didn't know people took out loans that are specifically around Christmastime. Interesting Hub and a great addition to HubPages!

    • billyaustindillon profile image

      billyaustindillon 7 years ago

      Good points here - simply don't spend what you haven't got and save for Christmas - long before Christmas.

    • profile image

      Nancy's Niche 7 years ago

      Saving for Chirstmas and budgeting a gift budget in this time of financial woes, that's the only way to fly! Great article Jon and my goodness, Christmas is just around the corner---where has the year gone?

    • nicomp profile image

      nicomp really 7 years ago from Ohio, USA

      Great advice regarding saving for Christmas and working an extra job. Thanks!