When You Need Bad Credit Loans
Is your credit less than perfect? Have you
been denied loans or credit because of you past credit
history? Will no one give you a chance because of your
past mistakes? Is your future suffering because of mistakes
of your past? Apply for a bad credit loan and make it
all better. There are a few things to keep in mind when
applying for bad credit loans that lenders and banks
will not tell you. Most banks do not specialize in bad
credit loans and will not even offer you advice on getting
one. They won't tell you where to go, how to apply,
what the prerequisites are, how to qualify, or minimum
requirements. Here is a checklist of things to have
prepared and what to expect when you see the phrase
"Bad Credit Loans! Apply Online!" on the internet,
magazine, or any other article. Here is how to be prepared.
Things to have ready:
Driver's License or Official State ID
Proof of employment (you MUST be employed; no one will
give you a loan if they know you can't pay it back!)
Three to five credit references (if you have a recurring
bill, loan, rental, tuition, etc with anyone, get them
to write a credit reference for you. If applying in
person for a loan, it will look impressive to have them.
If applying online some lenders will ask for credit
A list of current debt including current up to date
credit cards, loans, mortgage, rentals, etc.
A list of past due debt including credit cards, loans,
etc (lenders will want to know everything you owe both
good and bad)
Titles or proof of ownership of anything you can use
as collateral. Don't forget: If you don't make your
payments, the lender has the right to take whatever
you offered as collateral as collection of your debt!
Bank statement for the past six months. Not all lenders
require this but many do, so it's good to have it just
Things to keep in mind:
When you get a credit offer in the mail or online that
guarantees an extremely low APR, make sure that you
read the fine print and read all the information provided.
Your low interest can instantly increase to a very high
rate by simply missing one payment or even being a few
days late. Many bad credit loans and cards do not even
have a grace period. A lot of people get credit cards
without reading the terms of service.
You are going to pay a higher interest rate than the
average loan, be prepared for that and don't be surprised
by it. Again read the details before agreeing to the
If you have everything you need to get a bad credit
loan, and you are prepared to read the fine print on
everything, getting a loan can be a simple process.
When you see "Bad Credit Loans! Apply Online!"
you don't have to feel apprehensive. Know what to have.
Know what to expect. Know that you can get a loan too!