At TI Financial Services, we believe that a personal loan with bad credit should be a solution rather than a stumbling block. Our nationwide umbrella of lenders reflects that belief and are flexible enough to cater to anyone with a below average credit score. Our lenders passionately look for avenues to give you a fighting chance in being approved for a loan to assist you with your financial situation at hand. We firmly believe that in a short amount of time and given the right opportunity, you can and will become a responsible borrower working on your goal to have a well-established credit history.
Are You a Candidate for A Bad Credit Loan?
Getting a loan can be stressful and confusing for many people, especially if there are any sticky credit problems either currently or in the past. If you are wondering what makes you a candidate for a personal loan approval if you do have bad credit. Here are a few things to consider:
1) Here is the breakdown of credit rankings, where do you stand? Even those with truly bad credit, usually can qualify to a loan of up to $1,000. The higher your credit score, the more you can qualify for.
Excellent Credit: 750+
Good Credit: 700-749
Fair Credit: 650-699
Poor Credit: 600-649
Bad Credit: below 600
2) Do you have a stable employment history? Lenders like to see that you have been employed for a minimum of three months, but six months or longer is preferred. When applying for a bad credit loan, you will be asked to provide proof.
3) Do you have a co-signer? Sometimes a lender will approve you for a loan regardless of your credit score, if you have someone with good credit that will vouch for you. That means that if you do not make the payments on the loan, your co-signer will be responsible.
4) Do you have collateral? When applying for a loan with poor credit, the lender might be willing to approve you if you have something of equal value that you can put up as collateral. This could be a vehicle, a savings account, or other personal property. If for some reason, you are not able to repay the loan, the lender will take possession of the collateral. This protects the lender and will encourage you to make the payments on time until the loan is repaid.
5) Are you willing to accept a higher interest rate? When you are approved for a loan with bad credit, know that your interest rate is going to be higher than you’d probably prefer, but until you get your feet back on the ground, paying a high interest rate might be better than the alternatives.
Online Personal Loans for Bad Credit
If sudden and unplanned expenses have added stress to your daily life, we want you to know that we are here to assist you through the struggle. When you apply for a bad credit personal loan, we understand that you need a quick and reliable solution without the hassles, headache, and strict guidelines of a traditional bank loan. We feel that our online system provides the quickest responses and easiest approvals for your financial needs no matter how your credit rating looks. You can connect with our lenders anytime over the internet by filing out a short application via your laptop, PC, or phone. In some rare cases, the loan processing time may be a little longer, but generally the funds are directly deposited into your bank account on the very same day that you apply. Additionally, to make the process smooth and simple, there is usually no need to fax documents to the lender and co-signers and collateral is often not required.
We look forward to working with you, and we work hard to find the best possible option for your needs. We aim to provide a good value for every loan rendered despite your credit issues. Getting approved for your poor credit loan starts here, simply click on the apply button today.