Unsecured Loans for Poor Credit

Unsecured Loans for Poor Credit

Unsecured Loans for Poor Credit

Are you in need of some cash to get you through the tough times or just through an emergency? This can be a difficult thing to deal with because when you do not have good credit you can struggle to find unsecured loans for poor credit. This makes your life no fun and when you need some cash in a hurry to help you out of a jam you are more likely to hear a no than a yes. However, there are two options to use for those with poor credit and here they are.

First, you can use a website called Prosper. This site helps to match up individual lenders with individual borrowers. You will join, get a credit rating, and create a profile. Then, you will place a listing for the loan you want. This will include all the information about how you plan to pay it back and what you need.

After you place your loan listing other individuals that have signed up to invest in loans for private individuals will bid on your loan. They can bid as little as $50 and they can bid as much as the loan amount that you need. This means if you request $5,000 you could have 100 people bid $50 each or one person bid $5,000. You could also have any combination in between as well.

The best part about prosper is that if your loan funds early, then you can leave the listing up and allow individuals to bid on your loan at a lower rate. Sometimes this can really help you get a good deal.

Your other option for unsecured loans poor credit is to get what is called a payday loan. This is also known as a payday cash advance. Basically this is a short term loan that will allow you to get the money you need to get through a difficult financial time. This type of loan will have to be paid back within 30 days and would be a high interest loan. It is meant to help you in the short term and be paid off after you get paid a couple of times. You can get between $100 and $1,500 the same day from these types of loans.

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