May 22nd, 2017         Posted by         No Comments »

Bad Credit Loans A Borrower’s Guide For Personal Loans

By Robbie T. James

If you are in need of cash, a personal loan might be just what you need to be able to pay your bills. Many people who need money fast overlook the option of personal loans because they do not understand how they work. Or, they do not think that they will be able to qualify for one of these loans because they have a less-than-impressive credit score.

The truth is, however, that you can find personal loans even if you have a very low credit score of under 600 or even 550. There are several types of personal loans to choose from, including secured loans, unsecured loans, and auto title loans.

Secured loans are where you put up some sort of collateral – something of monetary value that the lender could easily sell in case you fail to pay back the loan principal. Because this type of loan is secured, it means that you can expect to pay slightly lower interest rates. Also, your credit score will not be much of a factor with these loans, since the fact you are putting up collateral helps to reduce the lender’s risk in the deal.

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Unsecured loans, on the other hand, do not require that you offer up any collateral to the lender. That’s a good thing if you do not want to put something of value up for possible sale by the lender later on. However, the drawback is that you will have to pay a higher interest rate on your borrowed money.

An auto title loan, meanwhile, is very similar to a secured loan. In fact, it is a form of secured loan. With an auto title loan, you are using your car’s value as loan collateral. In the case of this type of loan, you are risking losing your car. And, interest rates can be pretty high.

If you can, your best bet among these 3 options is to go with an unsecured loan. Surprisingly, even if you have a bad credit score you should be able to find a bad credit lender who will lend you the money you need.

The trick to doing so is this: you do not want to just walk through the front door of any old personal loan lender and ask for a loan. Rather, you will first want to do your homework. Find a notepad and a pen. Then, start searching for personal loan lenders who make it a point to deal directly with people who have low credit (FICO) score. Take good notes so you know whom to call and who is offering you the best deals.

You see, bad credit personal loan lenders will not be nearly as hung up on your credit score as would be most lenders. While most lenders will run away screaming at the sight of a FICO score below 550, a bad credit personal loan lender will automatically see that as a challenge to try to meet or beat. By applying with them directly, you will be setting in motion their wheels, with the goal of finding a way to get you approved.

Final bonus tip: make sure that you do not limit yourself to applying to just one of these lenders. Instead, apply to at least 3-4 of them. That will increase your chances of landing the best rate.

About the Author: Get access to more personal loan tips and quick-approval lending resources at:

My Bad Credit Personal Lender

.

Source:

isnare.com

Permanent Link:

isnare.com/?aid=711053&ca=Finances

May 22nd, 2017         Posted by         No Comments »

Commonwealth Bank of Australia CEO apologies for financial planning scandal

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Commonwealth Bank of Australia CEO apologies for financial planning scandal

Thursday, July 3, 2014 Ian Narev, the CEO of the Commonwealth Bank of Australia, this morning “unreservedly” apologised to clients who lost money in a scandal involving the bank’s financial planning services arm. Last week, a Senate enquiry found financial advisers from the Commonwealth Bank had made high-risk investments of clients’ money without the clients’ […]

May 22nd, 2017         Posted by         No Comments »

Denunciations of Scandals Threaten UN

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May 22nd, 2017         Posted by         No Comments »

Australian swimmer Steph Rice announces retirement

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May 21st, 2017         Posted by         No Comments »

Interesting And Offbeat Places To Visit In Tokyo}

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May 21st, 2017         Posted by         No Comments »

News briefs:July 27, 2010

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May 21st, 2017         Posted by         No Comments »

Airborne laser successfully destroys ballistic missile

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May 18th, 2017         Posted by         No Comments »

Take Care Of Your Teeth

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May 18th, 2017         Posted by         No Comments »

Augusten Burroughs on addiction, writing, his family and his new book

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May 18th, 2017         Posted by         No Comments »

Looted, possibly contaminated body parts transplanted into USA, Canadian patients

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Monday, March 20, 2006 Fears of contaminated bone and skin grafts are being felt by unsuspecting patients following the revelation that funeral homes may have been looting corpses. Janet Evans of Marion Ohio was told by her surgeon, “The bone grafts you got might have been contaminated”. She reacted with shock, “I was flabbergasted because […]