Where is the best place to get a loan, even with bad credit?
I am looking for a loan between $1000 -$5000. I have bad credit, and I’m afraid that I know for sure I know I’ll be turn down for it. I wanted options where I can atleast get a thousand dollars in loan, which will help me to start off with. What are my best options? Thanks.
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What are you going to use the money for? Not that I am sneaking but, I suggest that you should repair your credit first, before thinking of borrowing again. Your reputation is already smeared, when the time comes that you need to borrow money for a house or a business, you will have a hard time because of your history. Do not make it a habit to borrow and risk it. your hurting yourself by doing so.
Will this be a secured or unsecured loan? Depending on how bad your credit is you may not be able to get a unsecured loan. If you have trouble getting one and really have a need for it try citi-financial or american general or another company who lends at really high rates and secures the loan with household goods as collateral only if the need for the loan offsets the cost of the high interest you will pay typically 50% or more apr.
My answer to you is try and get a second job and save as much as possilbe, see where you can cut down on your spending and pay your bills on time. Then set about fixing your credit and paying off your bad debts or pay them ontime. Borrowing more money is not always the answer.
The best option is no loan at all. You already have bad credit which means that you are a bad borrower. If you haven’t got the money to pay the bills you have now another bill isn’t going to make your life any better.
That range sounds like a car. Tough it out for a while. Work a second job or get a better one and pay cash for a beater. Save up some more, sell the beater and buy a little better car. Keep saving selling and buying untill you get into a reliable car.
Nothing is better than knowing whatever happens no one can take your car from you.