Category Archives: Auto

Bad credit loans are designed for individuals that have poor credit, but also need to obtain small loans quickly. If used responsibly, bad credit loans can be a great resource for low income earners. If you don’t make a lot of money, you most likely have no savings account for emergencies. Therefore, when an unexpected expense does arise, you can obtain a bad credit loan to cover your costs and act as a cushion until your next paycheck.

How To Use a Bad Credit Loan

bad credit loans

Bad credit loans often come with high interest rates that are used to offset the risk of lending to individuals with poor credit, Sarah from bad-credit-loans.ca blogs about these issues frequently. However, if you are a low income earner that is not prepared to pay back your bad credit loan on time, you can rack up a lot of debt. It is best to only obtain bad credit loans for amounts that you are able to repay within mere weeks. This means that you simply use a bad credit loan as an advance on your paycheck and repay the loan after you have caught up with your unexpected expenses. Most bad credit loans are short-term loans that must be repaid within weeks. This means that failure to repay can result in additional fees and interest charges. If low income earners understand the risks of bad credit loans, they can better avoid falling for this common pitfall. Some lenders use very risky tactics and hidden fees to make their business extremely profitable, take a look at Wonga’s ad commercial video for instance:

Benefits of Bad Credit Loans

Although bad credit loans come with higher interest rates and shorter payback periods, there are still many advantages associated with this type of loan for low income earners. Bad credit loans have very simple qualification terms and simply require you to have a checking account and proof of employment, something that auto lenders may take advantage of. You are normally given a bad credit loan based on your weekly income. This means that bad credit loans are often for small sums of money, but these small sums of money are easier for low income earners to repay. The subprime mortgage crisis is a classic case of bad credit loans which could happen in australia.

No Established Credit Necessary

Unlike traditional loans, you don’t have to have great credit to qualify for bad credit loans; instead credit is not a part of the qualification process at all. This is ideal for most low income earners, because many low income earners have poor credit and can’t qualify for traditional loan options. This means that when an emergency arises, bad credit loans are often the only option. This type of loan can be helpful to low income earners if used responsibly and repaid in a timely manner.

Drinking and driving is an incredibly serious offense in British Columbia, Canada, which can result in not only legal ramifications, but can also be financially devastating. Before you get behind the wheel of a car with alcohol in your system, you should first consider what you could be potentially risking. Your entire livelihood and bank account could be lost with just one lack of judgment. If you do not want your life savings to be at risk, you will take the precaution necessary before you drive drunk or seek adequate representation and defense against your charges.

Canadian Law

All crimes of driving impaired, reckless driving or refusal to give a breath sample require a defense. These crimes personal injury lawyerare serious and have very severe ramifications that can result in both jail time and the loss of money. Lawyers will be making serious profits off your misfortunes. Having this blemish on your driving record can have serious consequences that only result in additional costs. Therefore, drinking in driving is not worth the charges that could presumably ruin your life. For accurate information you will want to take a look at CANLII

Drunk Driving and Insurance

Driving under the influence can cost you a lot of money in higher insurance premiums. After a DUI offence, you will be seen as a high risk driver, which means that your insurance provider will raise your premium. Since drunk driving is both risky and dangerous, your premium will rise considerably. This raise in monthly premiums will quickly add up and be very costly to you over a long period of time. Therefore, if you don’t want your bank account to be at risk, you will fight your DUI charges with a Canadian lawyer such as seen with the information on personalinjury-lawyer.ca.

Consequences of Conviction in Canada

Being convicted of driving under the influence in Canada can result in a criminal record and even a 90 day suspension of your license. If you have a job where your license is necessary, you may even be at risk of losing employment. You would be forced to take out high interest loans from online lenders. Higher insurance premiums aren’t the only added expense that you might have to pay. Many DUI charges are also accompanied by other penalties that can really devastate your bank account. Not to mention the cost of reinstating your license, paying your car loan off and paying for all of your legal fees.

Drinking and Driving Isn’t Worth It

Drinking and driving not only puts lives at risks, but it can also be financially crippling. You will not only face legal ramifications that can hinder your life, but you will also pay huge monetary penalties that will devastate your bank account.