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credit_riskIf you are considering applying for any sort of credit, including a loan, credit card, mortgage, etc., you need to understand the type of credit you are considering and its possible risks. One important step to take before signing the dotted line is to review your financial situation to see if you can handle another monthly payment. Establishing a monthly budget is essential to determining how much credit you can truly afford. The American Financial Services Association (AFSA) has a great budget planning tool that can help you determine how much disposable income you have at the end of each month.

After you have established a monthly budget, your next step is to determine which factors may be affecting your perceived amount of risk to lenders, which can impact the interest rate you receive. AFSA created an informative educational packet that explains what these factors are and how you can improve your credit risk.

If you have any additional questions, contact your local Mariner Finance branch today to speak with one of our knowledgeable representatives. They will be more than willing to answer any questions you may have!

This material was prepared for general distribution. Although all blog posts are intended to be accurate, the information and third-party links provided in the Mariner Finance’s blog are intended for general knowledge and educational purposes only without any warranties, implied or express, of any kind. The posts do not constitute investment, financial or other advice. Authors may or may not be licensed financial professionals; for specific advice, seek the input of a licensed and trained financial expert. Mariner Finance’s blog entries may also be viewed at www.pioneercredit.net and www.personalfinancecompany.com.

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†We offer personal loans starting at $1,000 with a maximum up to $25,000, depending on your state of residence. Loans between $1,500 and $15,000 may be funded online. Loans less than $1,500 or greater than $15,000 are funded through our branch network.

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. As a result, under our customer identification program, we must ask for your name, street address, mailing address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

*The process uses a “soft” credit inquiry to determine whether a loan offer is available, which does not impact your credit score. If you continue with the application process online and accept a loan offer, or are referred to a branch and continue your application there, we will pull your credit report and credit score again using a “hard” credit inquiry. This “hard” credit inquiry may impact your credit score.

 

Mariner Finance, LLC, NMLS No. 166564 (www.nmlsconsumeraccess.com)
8211 Town Center Drive, Nottingham, MD 21236. Telephone Number 877-310-2373.

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