My husband and I want a loan for $50,000 for investing purposes but have bad credit. Is there anybody that ever got a loan with bad credit for a large amount of income. No Scams. Please. Only legit companies.
Thanks for your help.
2007-08-02 06:57:15 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
1
2016-09-28 12:48:55 · answer #1 · answered by ? 3 · 0⤊ 0⤋
People with poor credit feel that it is difficult to get personal loans. However, there are many financial companies and banks that provide loans to bad credit applicants. Bad credit personal loans are generally soughtThe interest rates on secured loans are lower than unsecured loans. However, there is always the risk of losing your house or property if the loan is not repaid.
2007-08-02 07:07:55 · answer #2 · answered by callen s 1 · 0⤊ 0⤋
That is the problem with subprime mortgages that is bringing down the stockmarket.
It is never a good idea to borrow for investment purposes. If you have bad credit, you will probably be charged an interest rate of at least 10%. You would have to find an investment with a return of significantly more than 10% to make it worthwhile.
You won't get that in real estate or stocks right now.
2007-08-02 07:02:20 · answer #3 · answered by Anonymous · 0⤊ 0⤋
The most I have known that anyone with negative blemishes on their credit is about $2500. You would have to have some super great collateral that could be considered for that much of a loan. And if you are investing it - loan companies, banks, etc. are surely going to hesitate - depending upon what you are INVESTING in. It's a huge, huge risk - without them having some guarantee of repayment.
2007-08-02 07:02:10 · answer #4 · answered by THE SINGER 7 · 0⤊ 0⤋
I don't know about $50,000 - but you can try to re-establish good credit by going thru a credit union. They are usually a little more forgiving. I didn't have good credit a while back(stupid mistakes), but they gave me a small loan at first and then when I proved I could handle it - they gave me a bigger one. Now my credit is in the 700's.
Or try the site listed.
http://www.badcreditresources.com/bad-credit-personal-loans.html
2007-08-02 07:05:34 · answer #5 · answered by ? 4 · 0⤊ 0⤋
You will not get a loan with bad credit without collateral and/or a co-signor no matter what the baffoon who replied above says.
2016-04-01 11:42:45 · answer #6 · answered by Anonymous · 0⤊ 0⤋
sorry but as a ex loan officer there is no way other than a second mortgage. the only people who will help you are the scam joints which will just make your credit worse
2007-08-02 07:02:03 · answer #7 · answered by brenda st 6 · 0⤊ 0⤋
If your credit is bad, why on earth would you borrow money (obviously at a high iterest rate) for investment purposes?? If you are able to borrow that much money, do yourself a favor and pay your bills!
2007-08-05 15:23:47 · answer #8 · answered by amaya7 5 · 0⤊ 0⤋
I dont know exactly the companies. But look at this site. This site contains useful tips for every one who is opting to take loan
2007-08-04 06:45:21 · answer #9 · answered by john_crazy_martin 2 · 0⤊ 0⤋
Did anybody get a personal loan with bad credit?
T.R.Y
T.H.I.S.
S.I.T.E
W.H.E.R.E
Y.O.U
C.A.N
F.I.N.D
T.H.E
B.E.S.T
S.O.L.U.T.I.O.N
F.O.R
Y.O.U
2015-01-07 13:25:03 · answer #10 · answered by ? 1 · 0⤊ 0⤋