subject: How To Receive A Loan For $15,000 If You Have Bad Credit And No Job [print this page] For those who need fast bad credit loans, and are unemployed, there are options you can choose from. Making sure you know who will loan to you is the first thing that must be learned. Although you might not show steady streams income, there are still certain lenders who are going to front you the money in certain instances.
Having a co signer. If you are not employed, this is likely one of the first requirements, no matter who the lending institution is that you choose to go with. Since you do not have a source of income, they must know that there is someone else who does, that is willing to co sign on the loan amount for you.
Repayment terms. These are likely to be shorter if you are not currently employed. Due to the fact that some will default, the lenders are more likely to offer you the loan amount, even if you do not have a job, as long as the payments are made within the period of time they loan is offered for.
Interest rates. The interest will vary, depending on the person who is co signing with you, but are still going to be a bit higher. Since the borrower does not have a source of income, they are not highly regarded by creditors, in turn they are more of a risky borrower, so interest rates are higher for them.
Other requirements by a lender. Some will require age, nationality or citizenship, some proof of income, and other factors to be shown. Depending on where one borrows from, and the amount they take out, each one is going to vary, as will the remaining terms on the loans which they have borrowed, due to the fact that the individual does not have a steady stream of income.
Other factors will also be considered. Depending on who the lenders are, they will request other sources of information from the person who is borrowing. From referrals, to learning about rental history, or past employment history, depending on who is fronting the money, and how much they are willing to lend to you as a borrower, the questions they are going to be asking will also vary based on their criteria.
For individuals in need of fast bad credit loans, there are options for you to consider. There will be more requirements which are set forth, and stricter terms, but there are certain lenders who are still willing to loan the money. Keeping this in mind, and knowing where to go for the funds, are factors to consider for those in this borrowing group.
