Bad Credit Loans Advice

Bad Credit Loans are a type of personal or cash loan program that is offered to individuals that have bad credit. Generally speaking a person with bad credit would also have a low credit score.

Credit Score Range

You would be rated as having bad credit if your credit score is 500 to 580. You can still get approved for a loan at this level but you will not like your interest rate.

If you have a credit score of 499 or below, you will still get approved, but your interest rates and payments will be the highest rates that the lender can place on your loan.

How To Look up Your Credit Score

If you have bad credit, before you apply for a loan, you should lookup your credit score. Knowing this information will help you to find the best lenders for your credit rating.

Contacting Lenders

The first step to get started is to contact some of the lenders in your area. Make a call to your bank or credit union. Ask them do they handle unsecured personal loans. If there answer is yes, then ask then if they also offer less than perfect credit. At this point they will ask you if you know your credit score. You would say yes I do and tell them what your credit score is. Now the lender can tell you if they can help you based on your credit score. This step will help you to move on to the next lender quickly without wasting a lot of time or energy.

Finding Bad Credit Lenders

The best place to find companies that offer poor credit loan is by going to the internet. There are hundreds of different online companies that offer this type of loan service. They also have access to other lenders that they can go to for your loan request.

My name is Larry Kearney and I have been working in the financing industry for over 10 years.

About the Author:

My name is Larry Kearney and I have been working in the credit and loan related business for over 15 years.

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Repair Credit Score Through Bad Credit Car Loans

Repair Credit Score Through Bad Credit Car Loans

By Xenia Stevens

Credit problem is common these days. If you are one of the victims of bad credit and also facing problem in availing loans from the financial market to buy a car, in such condition bad credit car loans is best option for you.

Bad credit car loan is the product of the bad credit market fund which is especially designed to cater all people facing debt problem. Bad credit car loan also help the people in re-establishing their credit score by making duly and timely payments.

Bad credit car loan is available in two flavours:

•Secured bad credit car loans

In secured bad credit car loan, an individual is obliged to place collateral but sometimes it is seen that the car itself act as security against the amount. The fact of collateral also enables the lender to offer competitive rate of interest. But, if the person misses any repayment of instalment then it can further worsen up his credit position. And once it get worsen up it becomes very difficult to improve the credit score.

•Unsecured bad credit car loans

In unsecured bad credit car loan, there is no such obligation to place collateral. Instead of collateral the borrower provide certain documents to proof his credibility. Interest rate in unsecured bad credit car loan is little higher as compared to the secured form. Sometimes, an individual carries a misconception that the lender can take no action, in missing any payment as there is no asset involved. Rather the lender has legal right to sieze the asset or can take back the car if he tends to miss any payment.

The documents which are needed to be submit to the lender while availing unsecured bad credit car loan are:

•Bank statement

•Identity proof

•Income proof

•Financial status

•Or some other detail as per the requirement.

The person can get finance from banks, financial institutions and dealers. Here banks and financial institutions are known as direct mode of finance on the other hand dealers are known as indirect mode of finance. Dealers are just intermediaries between the financing company and the borrower. But, the borrower must avoid dealing with such intermediaries as it increases the cost of the finance as they includes their profit and also charges very high rate of interest. So, it is recommended that the borrower must avail loan directly from the bank or any financial institution.

At the end, the person is suggested that whether he avails secured bad credit car loan or unsecured bad credit car loan, he should always try to make timely payments in order to improve his credit rating.

About the Author: Xenia Stevens has been associated with AmericasCarLoans. She has completed her Masters in Finance from Cranfield School of Management. She provides useful information on Car loans. For further details in car loans, bad credit car loans, car loan financing visit


First Step In Credit Repair- How To Conduct A Credit Report Check

First Step In Credit Repair- How To Conduct A Credit Report Check

By Peter Lim ,CFP

The use of credit today in the purchasing of food, property, assets and services is prevalent. There is hardly anything of value that cannot be purchased in part or in full by the use of credit, or a credit card. Whether it is to finance a home, or a car, or simply paying for a dinner or a holiday vacation abroad, credit is acceptable, convenient and useful.

However, the wide use of credit does not mean everyone who makes use of credit knows how to use it with wisdom. Credit, like the proverbial fire, can be harnessed for good or it can be like wild fire which can burn you and cause wanton damage.

Credit scores affect every aspect of our financial lives including qualification for loans and mortgages, the interest rates we pay, employment opportunities, and even insurance premiums.

Therefore, the first step towards credit repair is to know your credit standing. This means getting your credit report. Even if you do not suspect anything amiss in your credit, it is important for you to establish your credit base by getting a credit report. In this way, you can check whether there is anything reported wrongly in your credit report and can have things rectified.

This first step is also to ensure your identity is intact, that your identity has not been stolen or hijacked. This is a proactive step by a concerned consumer to ensure that there is no chance for identity theft or identity errors and eliminate the chances of being victimized by ID fraud.

If there is inaccurate or incorrect information in your credit report, you need to get them addressed and rectified. You will need to understand how to submit your valid personal disputes to the credit reporting bureau so that they meet their requirements and warrant a timely response.

Once the credit bureau legally remove inaccurate information from your credit report, this will improve your credit scores, and establish your credit standing.

As this process may seem complicated to some, there are credit repair companies who will work on your behalf if you choose to appoint them.

Some law firms and real credit repair companies draw upon their vast arsenal of credit report repair strategies and experience to challenge negative items directly with the credit bureaus.

If you have not check or verify your credit report for some time, it is needful for you to undertake a periodic check on your credit score report to ensure it is correct and there are no inaccuracies in your credit report.

About the Author: Peter Lim is a Certified Financial Planner and webmaster of Credit Repair And Debt Consolidation Portal. Get your free information and credit repair resources at


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