At the end of the month does money seem to just drift away quicker than it comes in? Bills seem to just pile up without every realising it. It is hard to stay afloat when you are trying to make sure your rent is paid or mortgage is secure, the utilities are still on, the car is kept and not repossessed, and food is kept on the table. Your family depends on all of those bills getting paid, but some months it just isn’t clear if it is going to happen. That is okay. It is common for this to happen. Everyone experiences a loss of money, time, and work more at some stage in their life.
Do you need to improve your credit score, but still require access to cash quickly?
Lenders understand this and want to make money and loans available to everyone. They also understand that the vast majority of people do not have very good credit or in some cases they don’t have any credit at all. This is more common than you think. Instead of being worried about your credit you should be confident that you can get the money you need to make it through the end of the month into the next.
Lenders are now offering online solutions that are catered to people with bad credit or no credit at all. They believe that loans are a right to everyone not just to the rich and powerful that want another beach house. You deserve the chance to keep yourself and your family happy and healthy. If you need help then you need to look for loans for people that have bad credit.
What exactly are loans for people with bad credit?
Lenders understand that the trap that most people fall into is applying for a loan that requires a credit check. If credit is keeping you from getting a loan then you shouldn’t need to use your credit for the application. Lenders understand this and have developed a product that instead of credit relies on other factors to determine whether your application is approved.
Lenders want to approve your loan. However, they have a business risk. Their risk is if they give loans out to everyone then they will go bankrupt when people don’t pay them back. They still want to hand out the loans to as many people as possible. So, during the application process instead of getting a hard credit check you could be asked about your current situation.
Some common things to discuss are your education, current job situation, past job experience, if you own your car outright, or if you rent or own a house. All of these will go into the decision by the lender on whether to approve your application for a loan. There is no discussion of a review of your entire credit history at all.
Will applying for a bad credit loan impact my credit score?
No, as mentioned, there is no hard credit check. A hard credit check is when the lender requests from the credit agency an entire credit history report. So, your credit isn’t affected. Further if you decide to pay off your loan in full and on time then your credit may increase.
The point of credit is to show how well you can get out of debt. The only way to improve your credit is to first get into debt and then get out of debt on time and with full payments each time and consistently. So, the lenders won’t be looking at your credit but at everything else in your life to see if you can pay back the loan.
Where should I look for loans if I have bad credit?
Would you like to only fill out one application and have all of the lenders look at that single application? If you don’t then you many end up having to travel to different lenders’ offices during the day and waste fuel, money, and time trying to find the loan that fits your needs. This is not efficient or effective in keeping cash in your wallet. At Personal Money Network you only need to fill out an application once and it gets applied to all of the major national lenders.
With Personal Money Network the lenders come to you and you decide which offer you take. It is that simple. Quickly, easily, and effectively build a profile and application, get it approved, choose a lender, and get cash fast all from the comfort of you home. You never have to waste gas or time. Something we all have very little of.
You should always carefully consider your circumstances before applying for a loan and make sure it is the most suitable option for you. Always also consider alternatives, for example maybe you have a family member or close friend who could offer support? Explore all options before making a decision.