Who would loan money to someone whose credit score is 530?

Answer 1

If you have some form of collateral (home equity for instance) many will loan you money. If you don't, you are probably limited to small finance companies or someone you have done business with in the past. Do you have a credit union at work where you can payroll deduct it? That might be a possibility too.

Answer 2

some thing less than 550 is considered poor. you would possibly want to be paying very intense charges of pastime if all of us might want to approve a private loan. you want to artwork on getting your credit status up earlier you try to purchase a house. both issues that will improve your credit status are to pay charges on time. overdue funds kill your score. second, decrease your debt. meaning paying off charge playing cards and not in any respect charging any extra on them. do not open any extra mastercard charges when you're doing this. each and every time you practice for a clean card, your score takes somewhat valuable. you don't want a lot of of mastercard applications sitting there at the same time as the interior most loan lender comments your heritage next 3 hundred and sixty 5 days. you also do not want various debt sitting there so that you want to be paying extra then the minimum on each and every of the playing cards. it is going to take about a three hundred and sixty 5 days to work out your score bypass above 600 in case you'll get your debt decreased and performance a years properly worth of on time charge heritage.

Answer 3

That is a vague question. What for? Usually the only ones that give money to high risk people are Loan companies that charge outrageous interest rates, credit card companies, used car lots and maybe family.

Answer 4

Unless you've got collateral - that would be a family member or significant other.