I need a small personal loan and i have terrible credit. Any Body HELP!!?

Question

I just need a small personal loan of 3000dollars. Does anybody know of a company that might be able to help me that you know is legitamate. i dont want any scams. i just need help. i hate searching the web you never know what is real or not real. im currently working on my credit, but need the money sooner than my credit will be fixed. any advice on how to get this loan soon will be much appreciated!!!!!
thanks!!

Answer 1

Now you know why people told you to take good care of your credit.

Go to a local bank or credit union, and expect to get either a high interest rate, or denied. You'll have a better chance if you have something to put up as collateral, or if you have someone with good credit cosign.

Answer 2

It can be very difficult getting even a small personal loan if you have less than perfect credit or limited borrowing experience. Personal unsecured loans are considered risky to lenders.

Talk to your bank. If you cannot get approved for a loan by yourself, consider a co-applicant. Their credit score might carry you to an approval. But be careful; the co-applicant has the same responsibilities as the primary applicant - if you miss payments, it reflects negatively on both of you.

Do you have collateral you can offer? Getting a loan is a bit easier if you have something to offer as collateral. You can use CDs, savings accounts, or even your home. The easiest piece of collateral to use is your vehicle. The lender feels safer if they have something of value behind the promise, thus they are more likely to give you a loan.

I know you are working on your credit. The good news is, having a personal loan can improve your credit rating. If you are able to make the payments on time every month, creditors will see that you are able to handle credit in a proper manner.

Again, please see your local banker. He/she will be able to walk you through the loan process and answer any additional questions you have. And if you submit an application, they should have an answer within 24-48 hours. Best of luck!

Answer 3

Today the lenders have started offering nearly all varieties of loans for people with poor credit record.They are also introducing many new loan products meant for this group. Now people with poor credit can get the same choices as those with the good or mediocre credit. Today you can use bad credit personal loans for many purposes like car purchase, vacation or even debt consolidation.

But if you have some assets to offer as collateral, your chances brighten. The primary reason why people with poor credit history do not get loans is because the lenders are scared that the borrowers will default again. But if you can offer collateral, your lender is secure in the knowledge that his money is in safe hands. You have to try and meet the repayment schedule, failing which you lose the asset.

Answer 4

talk to real lenders like banks, you can always take a cash advance on a credit card but it will cost you big time in both interest and hit to your credit score. No matter what you do though you will get bad terms and high interest rates because of your poor credit.

You might consider selling something, can you downgrade your car, if you have a decent car you could sell it, buy an old junker and have $3,000 left potentially, provided that you don't owe a ton on your car.

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Answer 5

Quit borrowing money! The quickest way to mess up your credit is to spend more than you can afford.
For most people a house loan (mortgage) or a car loan are about the only things you should put on credit. Everything else you just need to wait until you can actually pay for them.
That includes vacations, furniture, jewelry, .....

Answer 6

Try Prosper.com

Answer 7

There are companies that will give you an advance on your pay, I would you could find them in the phone book.