CJ asked in Business & FinanceCredit · 1 decade ago

If you very bad credit is it possible to get a personal loan?

Bad credit personal loans if its possible how and were?

all over the internet they say you can get a personal loan no matter what your credit is, if so then who can testfi and what company did they use because I dont know anyone that has got a personal loan with bad credit prove me wrong tell your story and were. i know i may have had some problems but when will and how can i get some help.....

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  • 1 decade ago

    Different companies have different stipulations about loaning money. Some will work with people who have worse credit than others. If you have poor credit, you may still be able to get a personal loan. Three things may be considered: 1) the interest rate, 2) amount they let you borrow, 3) what collateral you have in case you default on the loan. Before I owned a home, I wanted to take out a personal loan to pay down some student loans and credit card debt. Although my credit was excellent, without any major collateral (my car was worth only about $4000), no one would loan me money. Shop around, and hopefully you'll find something that's a good fit. Lastly, keep a co-signer in mind, if possible - this may help you get what you need.

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  • 1 decade ago

    It is possible to get a loan with bad credit. If accepted, be prepared to pay a high interest rate. That's the name of the game: Good credit = lower interest rate & bad credit = higher interest rate. I would not recommend getting a loan over the internet unless you really understand the ins & outs. Going to a bank is better. They can answer any questions you might have and explain more of what you are getting yourself into. I have a friend that has extremely bad credit who got a loan, refinanced, and refinanced again. He is now currently walking away from his home because he can't make the payment anymore. Be careful and Good Luck!

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  • Anonymous
    1 decade ago

    DO NOT USE THESE COMPANYS TO GET A LOAN. They generally have extremely high interest rates.

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  • 1 decade ago

    would YOU give some a loan with a very bad credit???

    Me not!

    Don't destroy your future ... nothing is free in life.

    good luck.

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