Bad credit?
shekima s asked:
I have bad credit but i really need a loan i have four kids and i’m behind on my bill’s i have a jo
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I have bad credit but i really need a loan i have four kids and i’m behind on my bill’s i have a jo
March 8th, 2010 at 4:50 pm
I’m sorry. Get a second job and maybe see if family can baby sit for you until you get back on feet. Luke 6:37
March 11th, 2010 at 5:00 am
You should really look into credit counseling. They can help you set-up a repayment schedule that meets your needs. Getting a loan at this point is probably very difficult, but if you can show lending agencies that you can follow a payment schedule, it shows that you can be entrusted with a personal loan. Don’t expect that this can happen immediately. It will take several months to get your credit score back up.
Bar that, the only other way to get a loan with bad credit is to secure it with an asset (personal property like a vehicle). I’d start with credit counseling first. kinematic
March 13th, 2010 at 3:10 pm
Check prosper.com. They do some “peer-to-peer” lending, with no credit. It’s supposed to be people that will make private loans to other people if your reason is good enough. I’ve never tried it. I just heard about it on CNN and wrote the site down. Good Luck. Jo
March 13th, 2010 at 11:31 pm
Today the lenders have started offering nearly all varieties of loans for people with poor credit record.They are also introducing many new loan products meant for this group. Now people with poor credit can get the same choices as those with the good or mediocre credit. Today you can use bad credit personal loans for many purposes like car purchase, vacation or even debt consolidation.
But if you have some assets to offer as collateral, your chances brighten. The primary reason why people with poor credit history do not get loans is because the lenders are scared that the borrowers will default again. But if you can offer collateral, your lender is secure in the knowledge that his money is in safe hands. You have to try and meet the repayment schedule, failing which you lose the asset. Flower S
March 14th, 2010 at 8:39 am
Most lenders would willingly give a loan to someone with bad credit who has a job or collateral because
they can charge you a much higher interest rate than someone with good credit and if you did default then they could
take any collateral you pledged.
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