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Information and tips on unsecured loan for bad credit - The Bills.com Blog
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Information and tips on unsecured loan for bad credit
Friday, Oct 12, 2007
Question: who will give a loan for about 5000 bad credit. I want to clean up my bad credit,no home ownership.
Answer: Your ability to find a lender willing to loan you money will depend of several factors, primarily your credit score, your income, and your assets. You state that you do not own a home, which means that you cannot take out a home equity loan.However, if you have other assets, such as a vehicle, you may be able to borrow money using those assets as collateral. Interest rates on secured loans tend to be significantly less than unsecured notes, which is especially helpful for those with credit problems.
With poor credit, you may not be able to find
an unsecured loan to fit your needs. If you do find a loan, you should expect to pay a premium in interest for the credit risk you pose to the lender. Many banks are hesitant to lend to borrowers with poor credit. Luckily, there are alternative lending sources that you should explore, such as Prosper
( www.prosper.com ), where private lenders offer loans to private borrowers.
I also encourage you to visit http://www.bills.com/loans/
There, you can read more about loans, the different types available, and what you can expect when borrowing money. I hope this information helps you Find. Learn. Save.
Bill
www.bills.com
I also encourage you to visit http://www.bills.com/loans/
There, you can read more about loans, the different types available, and what you can expect when borrowing money. I hope this information helps you Find. Learn. Save.
Bill
www.bills.com
Also, make sure to get a free financial health check-up with Bills IQ!
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