Guaranteed Unsecured Personal Loans For Bad Credit Applicants
Guaranteed unsecured personal loans are not easy to come by, but they do exist for those who need quick emergency cash with not hassle. Usually, you can get these types of unsecured personal loans with just your signature. Most often, these types of guaranteed personal loans are called payday loans, but there are other types of loans that you can get with longer terms. Some of these guaranteed personal loans can be as much as $25,000. You must understand though, that because you are dealing with guaranteed high-risk loans, that the interest rate will be much higher than those personal loans offered to those who have good credit from prime lenders.
Why Would Lenders Give Me An Unsecured Loan If I Have Bad Credit?
Approximately 15 to 20 percent of the population have bad credit. That's a lot of people! When your credit falls below 550 and in some cases 600, finding a lender who will lend you money to consolidated debt, start a business, or go to school is very, very difficult. Well, seeing that 15 to 20 percent of the population is hard to ignore, some banks and financial institutions will lend to you even if you have bad credit. There are lenders who specialize in lending to people with bad credit or "sub prime lenders." The term "sub prime" got a really bad rap during this whole bottom falling out of the housing industry that took place in 2008 and beyond. Some mortgage lenders took advantage of people they knew could not afford mortgages because they just didn't have the financial means, yet they were given mortgage loans anyway. They took a gamble and lost a great deal and so did the little homeowners who were taken advantage of.
However, the term "sub prime" only means lending to people who have less than perfect credit, usually credit under 600. While prime lenders focus on people with credit of 700 and above. Those who fall between 600 and 700 can fall into either category depending on the lender and what you are purchasing. If you have bad credit, your chances of getting a personal loan from a bank or prime lending institution are almost zero. Many people who need goods, often get them from "buy now pay later catalogs" since you don't need a credit card to get goods from them. You have to deal with the lenders who cater to sub prime lending in order to get your personal cash. Although there are far less of these sub prime emergency cash lenders, there are some out there who will give you an unsecured personal loan even if you have bad credit.
Books To Help You Get Loans Even If You Have Bad Credit
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Lenders Who Will Give Guaranteed Personal Loans Even With Bad Credit
CreditSources.org caters to sub prime borrowers who need emergency cash fast! According to their website "Thousands of people have used our fast, easy and secure application form to apply for bad credit loans online, payday loans, unsecured personal loans, and cash advances. Check back frequently as we’ll be adding a lending resource directory for bad credit auto loans, home loans, auto & car insurance and more. For those seeking personal loans for bad credit of up to $1,500." If you have less than perfect credit, this is a good resource for you.
PayDay Panda is not a payday lending institution, instead, it acts as your pay day lending resource. It matches you with over 60 pay day lending institutions who can give you instant approval for $500 up to $1000 the same day. Those who need a personal loan even with bad credit and need money for car repairs, groceries and rent,or even just to get by between paychecks, PayDay Panda seems to be an option. You only need to fill out an application and let Payday Panda do the rest.
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If you need money that you can qualify for very quickly, then try credit.com. You can qualify for up to $35,000 to do home improvements, consolidate debt, major purchases, school or just quick emergency cash! According to credit.com, you can qualify rather easily for a secured and unsecured personal loan. There is no application fee, no payment penalties, easy online application and a quick response.
Spring Leaf Financial
You can get unsecured personal loans from Spring Leaf Financial for $1000 to $25,000 or more depending on your immediate financial need. The unsecured personal loans from Spring Leaf can be for any reason and the qualification process is very simple. You can apply online or at one of the over 1000 Spring Leaf Financial branch locations over the U.S.
First Choice Advances
With First Choice Advances, you can get unsecured personal loans up to $35,000. This company is another institution that connects you to the right lender for your particular need. Bad credit is ok, but if you want more than $10,000 unsecured personal loan, you will have to have prime credit. For bad credit borrowers, the short-term, lower amounts under $10,000 is better for you to qualify for. They have reasonable interest rate and quick approval once you are matched up with the right unsecured personal loan lender.
So if you have bad credit and you are looking for a quick way to borrow money with just your signature, you do have some options. You don't have to resort to selling all your things or dealing with a loan shark or just feeling as if there is no help for you. Some lenders in the industry realize that even though you have bad credit, you may still be in need of emergency cash or ways to get your hands on money to help pay bills or start a business. Although you may have to pay a higher interest rate because the risk is higher, know that there are sub prime lenders out there who will give you a chance. Once you establish a relationship with a particular unsecured personal loan lender, and pay them back on time, then you know whenever you need quick emergency cash or more unsecured personal loan money, then you have a lender you already have an established good relationship with.