Having bad credit can hurt you when you are in need of money for an emergency, vacation, auto repair or if you happen to fall ill. The good thing is you can get a loan but you will need to be careful with who you get a loan with because some companies will have a very high interest rate. The first important thing you should do is go to one of the main three credit bureau sites like Transunion, Equifax and Experian.
These are trusted sites that you can use to help you figure out your credit score, and you will also see which account is hurting your credit score. There are ways you can fix that and get it taken off, so then your score could possibly go up. Once you find out your credit score, you then need to do an informative search on which loan company to use for a personal loan
There is a wide selection these days of loan companies of all kinds like title loans, payday loans, and unsecured loans. There is more than likely a title loan business in your local area that you can go to and talk with them on how their process works. In most cases with a title loan, they do not do a credit check; you just fill out a form and tell them how much you want. These loans are great for people with bad credit, because they are totally secured and easily approved.
It is very important to remember that with a title loan, you give them title to your vehicle, and an extra set of keys to it. They will hold the title as collateral until you have paid off your loan. If you agree to the amount they can offer, then they will hand you the cash and it is done. Keep in mind that with a title loan, the interest is quiet high but it is to be expected with these types of companies. Also, if you refer someone to them then you can receive a certain amount of cash as a reward for getting them a new customer.
Payday loans are easy to find, and you probably have several companies that offer them in your local area. To qualify for one of these loans, you have to have a valid email address, provide your home and work telephone numbers, have a valid checking account in your name and make at least one thousand dollars a month. You have to be at least eighteen years old and must be a permanent citizen of the United States.
To be eligible for one of these loans, you have to show that you have been employed at your present workplace for at least ninety days. The first step is to fill out an application. They will then put your information into the computer, and in some cases you might need to show your latest pay stub. Once they get copies of your documents, they will sit down with you and go over the fees, terms, and rates. They will let you know the exact amount you will need to pay back and the date that you must pay it back by.
If you agree with their policies, then the money will be transferred into your checking account within a few hours or in some cases they may give you cash. Remember each payday loan could be different when it comes to rates and fees, so always check every option before agreeing to anything. You want to benefit from a loan and not get taken advantage of.
An unsecured loan is another way to get the extra money you need when you need it fast. These types of loans will vary on the amount they can offer, and sometimes it only goes up to one thousand dollars. You will need to fill out an application, and they will let you know quickly if they can help you or not. If they can, you will then need to read carefully the conditions of the loan and sign it if you agree.
Most unsecured loans have a fixed rate. It all depends on where you live, so this may be different for all states. If you decide to do it online, then you will need to make a copy of the agreement to have for your records. Once you agree to the terms and sign the form, the money will be transferred into your checking account within minutes or a few hours.