Second Look Financing

Fortiva Financial specializes in providing second look financing to underserved consumers.

Furniture Financing

Get instant approvals on furniture financing with Fortiva even with bad credit score.

Medical Loans

At Fortiva Financial, we care for you and gives you option for medical financing with host of benefits and features.

Retail Financing

Fortiva gives its customers access to powerful features and various payment options with its retail financing.

Thursday, 27 March 2014

5 Tips to Make the Best of your Furniture Loans

If the lack of sufficient available funds at hand is posing as a hindrance for you to purchase furniture needed for your home, furniture loans can be a convenient means of acquiring such high price items. While most reputed furniture chain stores proffer their customers the privilege of acquiring furniture items through such loans, the proposition becomes a difficult one for those individuals with blemished credit records.

If you too are finding it hard to acquire a furniture loan or looking for the right place and the right ways to make most of it, take a quick peek into the following tips.

  • First, to ensure that you are increasing your chances of getting your furniture loan approved target small store owners in your local area rather than attempting to hit big furniture stores. This is because the latter may not have the time to carry out in-depth reviews of your creditworthiness since they already have large influx of customers with good credit scores to meet their needs. Small store owners will be more than glad to help you out since that would mean an increase in their number of customers as well.
  • Secondly, there is no dearth of financial institutions which specialize in providing loans to subprime borrowers. By taking loans from such lenders you will have the opportunity to opt for plans that suit your current financial conditions as well as taking into considerations repayment schedules that will not pose to be further burden on your shoulders.
  • Research online or otherwise for reliable furniture lending companies to ensure that you are not dealing with a company which may dupe you later or surprise you with hidden charges by showing apparent low interest rates initially.
  • Although easier said than done, but it pays to have as much funds as possible for making the down payment before taking up a furniture loan. While this would lessen your loan amount, it would also increase your chances of getting your loan approved.
  • When you have got your loan approved make sure to have a proper budget plan done on monthly basis so as to curtail on any additional expenses and try your best to repay the loan on time so that your credit records improve and you do not maim it further.

Looking for furniture loan? Fortiva Financial is just the company you need to look for high approval rates and convenient custom furniture loan plans to deck up your dream home with the furniture you desire.

Wednesday, 26 March 2014

What is Subprime Credit?

Subprime credit refers to loans proffered to borrowers who do not belong to the “prime” status of lending that is whose past credit records depict some sort of delinquency in repayment of loans and therefore pose to be high-risk borrowers for lenders. Subprime loans come with higher interest rates which are taken as a sort of security by the lenders since they are taking high risks by lending to this category of people.

According to financial regulators subprime borrowers are those who show up FICO scores of 640 or below, have records of 2 or more repayment defaults in 30 days over a span of last 12 months or one 60-day faltering over 24 months and has 50 percent or more debt-to-income ratio. In addition, individuals who have had faced a charge of foreclosure or has struggled under bankruptcy in the past 24 to 60 months are also often considered subprime. The criteria for lending subprime credit vary from one financial institution to another since different organizations take into consideration varied aspects before giving out loans to those belonging to the subprime sector of credit lending. In most cases subprime credit is given looking into a steady, current income flow of the borrower, his existing debts and consequent income-to-debt ratio which determines how much additional burden he can take on his shoulders after paying off the present debts and other such factors.

If a borrower depicting poor credit score does get approval for a subprime loan, he or she can use it to the optimum to rectify the past financial delinquency and therefore improve the credit score through regular, timely repayments of the loan. If you are looking for subprime credit, Fortiva Financial can be your reliable finance partner with high approval rates and flexible repayment schemes for meeting your finance requirements without any hassle.