where can I get a bad credit personal loan?
I'm in a bind, I'm sure like everyone else..and wanted to know if anyone knows of a reputable company that gives a loan of abot 1500 to a person with bad credit?
Public Comments
- If you have a bad credit history still the loan market place is full of lenders who are ever willing to offer you a fresh loan. But you should be meeting some conditions laid down by the lenders. Loans for bad credit people are in fact easier to get then they were ever before, thanks mainly to cut-throat competition amongst the lenders. Lenders are giving loans to the bad credit people who have late payments, payment defaults, arrears, county court judgments or any credit problems. These loans are available for any purpose like home improvements, purchasing a new or used car of your choice, for wedding and holiday tour, debt consolidation or for paying child’s tuition fees. Every lender in approving loans surely likes to see if the bad credit borrower has sufficient capacity to repay the loan in timely manner. If the borrower earns well, has regular bank balance, has been an employee for some years and has a convincing loan repayment plan in place, then the lenders do not usually hesitate much. So ensure that you have adequate repaying capacity before applying for a loan. Also, you should first check your credit report for any errors. If your credit score is too low then you would be charged a very high rate of interest. So it is advisable to first pay off some easy debts to improved credit score and then you should apply for loan at better rates. http://badcreditloans.50webs.org/badcreditloans.html
- Your credit history isn't all that important when it comes to lenders as long as you can prove that you are earning a good wage and being a first time borrower, you may only get offered around $1000 with most lenders which is pretty bad. Banks are never the best places to get loans unless you can provide up to five years worth of addresses and have had a regular income going into your account for a good while. Most lenders (Not Bank ones) are interested only in whether you have a regular full time job and/or if you have a home of your own or assets they can take in the event that you might die or fail to keep up with payments for any reason. This is why many loans are for home-owners rather than for tenants secured or unsecured loans. Many loan companies take on people with bad credit or no credit because they are going to make a profit from the interest rates they charge anyway and why the good/bad credit thing is so irrelevant when applying for a loan generally. Very few loan companies turn away poor credit score customers as long as they are working or own a home. In your case, you should really have no problem at all in getting a loan if your salary is that good and lenders will snap you up pretty quickly. ----------------------------------- http://www.loansandinsurances.com/
* Some answers may have been provided by Yahoo! Answers.