I Have A Bad Credit History - Are Unsecured Loans Possible? 3 FAQs

I Have A Bad Credit History - Are Unsecured Loans Possible

? 3 FAQs

When you need cash through an unsecured loan, there are only two things standing between you and the money you need:

a. finding a qualified lender

b. getting your loan application approved

Most people in your situation believe that they have "a. finding a qualified lender" pretty much covered. After all, how hard could it be to find a lender when there are so many to choose from? However, how easy it is to find a qualified lender for you all depends upon your credit situation. If you have bad credit, you need to know how to find the RIGHT qualified lender - not just any lender.

If you need money and are saying, "I have a bad credit history - are unsecured loans possible?," here are the answers to 3 frequently-asked-questions:

1. Is an unsecured loan the same thing as a personal loan?

A: Unsecured loans are a type of personal loan, but not all personal loans are of this variety. With an unsecured loan, you are not required by the lender to put up any collateral for the loan. On the other hand, with a secured loan, you can get the loan at a lower interest rate; but, in order to qualify you would need to put up something valuable that you own as collateral.

2. Does a bad credit score prevent me from qualifying for an unsecured loan?

A: Your bad credit score - even one as low as 550 or below - should not automatically disqualify you from getting your loan application approved. Still, having a bad score will likely drive up the interest rate you will have to pay on the loan. And, it makes it all the more necessary for you to find the right lender.

3. How can I qualify for an unsecured loan anyway?

A: To qualify for this type of loan despite your bad credit score, you will need to build for yourself a list of at least 5 "bad credit personal loan lenders." Those who advertise themselves this way are much more likely to want to work with you, despite your low FICO score. And remember, you will benefit from applying for a personal loan to every single lender on your list. Do not stop at just one or two or you could be missing out on an even better loan deal.

Take these answers to 3 FAQs about finding a bad credit history personal loan to heart and get approved fast.

POST COMMENT

I Have Bad Credit And Debt - Loans For Poor Credit Borrowers - 5 Steps Best Credit Card - Ways To Recognize What Kind Is Ideal For Your Needs Payday Loans No Credit Check– simple and on time financial assistance Should You Use A Credit Card Or A Payday Loan For Unexpected Expenses? Free annual credit report: Maintain an updated credit report Important Guidelines for Getting Debt Consolidation Loans with Bad Credit Deciding on a Credit Card Debt Consolidation Loans with Bad Credit: Make use of the Advice of Experts RBS Issues Warning that China Credit is About to Burst Unsecured loans no credit check: No more worry for credit score Bad Credit Plastic Surgery: Unique Option for the People with Bad Credit The newest Credit Card Debt Consolidation loans aid in consolidating your debts Wiping Out Fee Offs From Credit Status Can Lift Up Your Credit Scores Drasticallywiping Out Fee Offs