2006-07-20 09:18:31 · 15 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
when you have bad credit you have proven to be untrustworthy to repay any loan...therefore you keep getting denied. you must rebuild your good credit rating first.
to do so, obtain a small limit prepaid credit card from a bank. you pay them $250.00 and your credit card then has a $250 limit. as you begin to charge, pay the bill in full before the due date. this builds trust and good credit. if you don't pay, they take the bill out of the 250.00 you paid them, they shut off the card and you're done because you've again proven to be untrustworthy.
if you can pay your bills (all of them) on time over the course of 1-2 years your credit rating will rise. at that point you could obtain a small loan.
2006-07-20 09:24:09 · answer #1 · answered by J Somethingorother 6 · 0⤊ 0⤋
1
2016-09-28 14:48:25 · answer #2 · answered by Andrew 3 · 0⤊ 0⤋
I believe you are stating that you have bad credit and cannot get a personal loan. This is very common. If you really need the money, try a hard money lender such as payday loan or similar. You will pay points and fees, and the interest rate is near usury (around 25%), but if you really need it, you really need it.
You can also try a pawn shop loan if you have collateral. If you have a reasonably decent vehicle and insurance, you might be able to secure a loan with your car.
It sucks to have bad credit -- that is why you have to take your credit history very seriously.
2006-07-20 09:23:42 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Hence the term "bad credit".
Have to pay bills and loans on time for companies to want to loan you money in the future. Pay bills first then eat, go out, etc.
You can try something like this:
http://www.prosper.com/
But again with bad credit don't expect many offers. About your only options are save up, sell some stuff or borrow from friends and family.
2006-07-20 09:23:15 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Don't expect to get loans from more prominent banks like Bank of America, Community America, or US Bank.
You have to start looking for "high risk lenders". These people make their money from those whose credit is damaged. They charge a ridiculous interest rate.
2006-07-20 09:24:09 · answer #5 · answered by Scott D 5 · 0⤊ 0⤋
then you probably don't need a personal loan that bad, fix your credit first before applying for any kind of loan
2006-07-20 09:21:38 · answer #6 · answered by Kryztal 5 · 0⤊ 0⤋
Go for a payday advance, where they don't use your credit to give you money. As long as you have a steady job, you can get a payday loan.
2006-07-20 09:22:06 · answer #7 · answered by Anonymous · 0⤊ 0⤋
find a co-signer or clean up your credit. if you got a loan now you would pay way too much intrest and it would kill your credit more
2006-07-20 09:22:25 · answer #8 · answered by parental unit 7 · 0⤊ 0⤋
if you have the title to your vehicle you can get a title loan, they usually don't check your credit but beware they are usually interest only payments.
2006-07-20 09:22:21 · answer #9 · answered by T 4 · 0⤊ 0⤋
go to a loan shark or try the five finger discount at walmart
2006-07-20 09:22:09 · answer #10 · answered by butch 1 · 0⤊ 0⤋