Does anyone know of a bank or lending institution that makes bad credit loans?

Question

I am in need of a a loan. I know the rate will be high. Banks such as american general, wells fargo and citi will not lend me anything. not because of recent bad credit, but due to old bad credit. I only have 2 accounts with history over 12 months and the rest are all new 5 months or less. I need to only borrow around 5000. any help with this would be great. my score is low but like i said its not due to recent bad credit other than a judgement from 98 that showed up back in January. I have paid most of my collections off as well and still cannot seem to get help.

Answer 1

The company I'm most familiar with that helps people with bad credit obtain loans is:

http://www.mortgageous.com/noriskcredit

It sounds like you would be a good candidate for a line of credit. Even with your low credit score, they should be able to set you up with a $5,000 line of credit you can draw upon for any reason. They will explain the options to you, and help you figure out the best solution for your situation.

Answer 2

This Site Might Help You.

RE:
Does anyone know of a bank or lending institution that makes bad credit loans?
I am in need of a a loan. I know the rate will be high. Banks such as american general, wells fargo and citi will not lend me anything. not because of recent bad credit, but due to old bad credit. I only have 2 accounts with history over 12 months and the rest are all new 5 months or less. I need...

Answer 3

Citibank Bad Credit Loans

Answer 4

How can you have a judgment on your credit report from 1998? The statute of limitations is 7yrs, so that judgment should have been erased from your credit report in 2005. Unless, however, you neglected to pay it.

DO NOT go with Orchard Bank. Yes, they help you rebuild credit, but their customer service sucks since they are part of the horrendous HSBC corporation. I'm being screwed over by HSBC right now for literally doing nothing wrong at all(they tend to make a lot of false accusations, place false fees on your bill, and anything to make the ol mighty dollar). Plus, it has a $60 annual fee and it takes 18 months+ to qualify for a credit limit increase.

Is there a way you can obtain a payday loan(last choice option) or get a cosigner for the loan?

If you want to get a credit card, the best bet is to get a student credit card(lie if you have to! they're easy to get) or a secured credit card. A secured card won't help you when you need $5,000 since you need to pay money upfront to get a card, but you will be able to establish decent credit history and then qualify to receive your deposit+interest back after a certain period of time. A secured card will allow you to get your feet in the door with a RESPECTABLE bank like Citi or Bank of America, as opposed to a SCUMMY bank like First Premier or HSBC.

Bank of America has a great secured credit card program. They turn your secured card into an unsecured card after a year. They are a bank with good customer service too, so they're not going to try and scam you a lot like HSBC would. If your credit isn't too terrible, you might qualify for their 100/500 partially secured card. Basically you pay a $100 deposit for a card with a $500 limit, so essentially you're being lended $400. You get the $100 deposit back after 6 months of on-time payment history, plus they will also double your credit limit from $500 to ~$1000. When you apply for the Bank of America card, they first check to see if you qualify for their regular unsecured card, then the partially secured one, then the fully secured one...but they only run your credit once, so you don't have to worry about excessive hard inquiries.

Answer 5

Why not try rebuilding your credit, the same companies which will supply you with a poor credit credit card are the same ones which will give you a loan.

Orchard Bank is good for giving loans to bad credit individuals, and they treat you like a million dollors at the same time.

Answer 6

For the best answers, search on this site https://shorturl.im/axLiT

If you were entrusted with other people's money with the expectation that you would keep it safe and even make them some interest, would you lend that money out to someone with a poor credit history? Please let me know what institutions are willing to lend you money so I can make sure none of my money is invested with them.

Answer 7

Hi,
try to go on this website :http://www.gotoinfolink.com
They have a section about bad credit...
Hope that help ;-)
Jeff

Answer 8

Funny, I was wondering the same thing myself

Answer 9

Not sure about that

Answer 10

Maybe so