im in the military and have bad credit, i already have a loan out with a military lender and i am still paying that off now but i need this new loan for a family emergency...does anyone know any lenders that help out with bad credit???
2006-11-25 23:43:35 · 7 answers · asked by lile052001 2 in Business & Finance ➔ Credit
Seriously, you need to stop borrowing money.
It really doesn't matter why you have bad credit. Any company that looks to lend money to you are going to think you are a dead beat. Again, I'm not trying to be mean, but this is how companies think. They look at your credit and decide that you are someone who does not keep agreements, someone who is irresponsible, someone who cannot be trusted.
Because they start by believing this about you they assume that for every three people like you who borrow money, one will not pay it back. So they will charge you an outrageous interest rate to offset the perceived risk. It would not be uncommon for a $6,000 loan to cost you well over double to pay it back.
The best you can hope for is to contact the lender to whom you already owe money, and try to get them to lend you more. If you have a good payment history with them they may consider it. But seriously, it's not a good idea.
2006-11-26 01:06:06 · answer #1 · answered by ZCT 7 · 1⤊ 0⤋
1
2016-09-28 14:46:04 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Try a credit union or your bank. IF you can get a loan, you're probably going to have a bigger interest rate.
DO NOT ask someone to co-sign for this loan. You created this problem and you shouldn't involve anyone else in your money problems.
Good luck.
2006-11-25 23:52:07 · answer #3 · answered by grahamma 6 · 0⤊ 0⤋
Only a private lender can help you but remember you need to pay higher interest.
2006-11-27 01:38:33 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Loan shark
2006-11-26 03:13:27 · answer #5 · answered by Your #1 fan 6 · 0⤊ 0⤋
not unless you can have someone co-sign with you... or if you have personal property that you can either put up for collateral or sell for the money.
2006-11-25 23:46:35 · answer #6 · answered by tampico 6 · 0⤊ 0⤋
not unless you have some serious assets to use a collateral
2006-11-29 19:29:54 · answer #7 · answered by Fluff C 1 · 0⤊ 0⤋