I would like to know if its possible to know if there's a way to get loan if you have bad credit?

Question

I would like to know if there is a way of getting a loan if you have less than perfect credit. In this day in time, we are all experiencing problems with the sub-prime mortgage rates, and I would like to know if that is possible.

Answer 1

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Answer 2

One of the safest ways is www.prosper.com. It is all peer funded loans so if you have bad credit be upfront about why and give details about how you will repay the loan.

Answer 3

try prosper.com. http://unusualjobs.blogspot.com/

Answer 4

Generally, no...

You can use credit repair agency to fix your credit - for example this one - http://freecreditreport.sinfree.net - They can clean lots of bad stuff from your credit report - and do it much faster than yourself, so your credit will go up fast.

After credit repair you can get the loan with minimal interest rate.

Answer 5

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.

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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.

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