can I get a loan?

Question

I wanna get a personal loan from 5-10k I have bad credit from stupid mistakes in the past and Im saving up money to buy a new car so I wont have to take out a car loan for like 30k I can pay off a personal loan though. I need it quick becuase my dog got hit by a car yesterday and her medical bills are gonna come up a little over 5k. Even though I have bad credit I own a home in detroit so should'nt that make it way easiar to get a loan if I use my other home that I dont care for as collateral?

Answer 1

If you have equity in the home, you could apply for a home equity loan. Due to the bad credit, the rate may be a little high. Houses in Detroit have been hammered in value the past couple of years so you may not have much equity.

Otherwise, bad credit no collateral loans generally do not exist.

Answer 2

Bad credit personal loans normally carry a higher rate of interest. This is because of the higher risk potential in such loans. One may also be overcharged on this account. The borrowers are asked to pay a hefty charge and have to face some inflexible terms of payment. Nevertheless, there are lenders who charge reasonably lower rates of interestcomfort and a future comfort also leads to this trap. Deciding the monthly repayments and the number of installments further strain your mental faculties. An expert advice from knowledgeable people will help in this decision. Being aware of ones financial condition, the borrower can decide the various details of the loan in a much better manner. Thus, the final decision is reserved with the borrower himself.

Answer 3

I would bury the dog. The house that you are planning to use may be check out by a future lender. Here is a good option to check out. This company has plenty of free information for you. This company has been featured on national TV newcasts (not infomercials) and published in several magazines such as Newsweek. This company is where people lend money to other people. Good Luck

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