Low Income Unsecured Personal Loans to Pay Government IRS Taxes
Posted on | March 26, 2010 | No Comments
If you are searching for a loan type to pay government IRS taxes then you may want to consider research on a low income unsecured personal loan. This loan type can allow you to borrow money at relatively low interest rates even if you are in a lower income tax bracket.
It is very important to understand that the interest rate you receive on a personal loan will be reflective of your overall credit score. If you have seen your credit score drop over the last several months you are likely to find a higher interest rate on your personal loan.
At the present time we are seeing interest rates between 12% and 18% on personal loans. If you have a credit score that is below 680 and has been dropping you can expect to be in the higher part of this range and possibly even above 20%. The best thing you can do to lower your interest rate is to improve your credit score.
Unfortunately, if you are looking to pay government IRS taxes it is highly unlikely that you’re going to have time to improve your credit score. With taxes being due in the middle of April you will not have time to see a significant increase in your credit score.
Author: Heather Best
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