I’m looking for a personal loan, but my credit isn’t that great. Where can I start?
Ashy Lady asked:
I’ve pulled all three of my credit scores and they range from 522 to 596. I know that if and when I do get a personal loan, my intreast rate will be somewhat high. I just need some advice on where to start. Please HELP!
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I’ve pulled all three of my credit scores and they range from 522 to 596. I know that if and when I do get a personal loan, my intreast rate will be somewhat high. I just need some advice on where to start. Please HELP!
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Tags: Advice, Credit Scores, Personal Loan
February 24th, 2009 at 3:43 pm
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With those scores, it might be really difficult to get any loan. Usually they want no less than 660. Also, they might hit you with about 24% interest, and they will ask for collatoral. So, if you own a car worth a couple grand, they might hand over the $ but if you don’t pay- they hold the title to the car. Try your local banks- not credit unions they are harder to get. If you want to take your chances, find a local private loan company…American Finance or something like that. Good luck!
February 27th, 2009 at 10:10 pm
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Try these guys,
March 1st, 2009 at 2:26 am
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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.
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March 2nd, 2009 at 6:05 am
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try prosper.com
eloan.com
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.
March 3rd, 2009 at 6:40 pm
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Ashy Lady
Looking For Good Prices On Secured Personal Loans then :
Read This Article :
Even If you need Loans for Unemployed people there are
specific opportunities . . . just read the posts in this blog . . .
Hope this Help You . . . Good Luck .