Are There Any Real Lenders Who Will Loan Money If I Have Very Bad Credit And A Low Credit Score?

18 Answers

lakeesha Hennessy Williams Profile
Yes, there are lenders out there who will lend money to people who have bad credit and low credit score, but they do come with a very high interest rate.

You may end up paying back a lot more than you originally borrowed.

Getting a loan with a bad credit rating
Another drawback is that they are only short-term loans that have to be paid back perhaps quicker than you would like which could pose a problem to you.

It also depends what you need the money for and how much you want to borrow as the amount that you can borrow will vary from lender to lender so it is important that you find one that will lend you the amount you want.

There are Bad Credit Personal Loans available that can be secured or unsecured. A secured loan will need some form of collateral up front against the amount you want to borrow as a kind of insurance but it will have a low interest rate.

With an unsecured loan you will have no need to put anything up as collateral but the interest rate of the loan will be considerably higher.

If you need the money to purchase a new car there are Bad Credit Car Loans available. Again these can be secured or unsecured but you do not need to put any collateral as the loan is taken out against the car. So should you miss any repayments you will be in danger of losing your car.

How can I get a loan with a low credit score?
Payday Loans are easy to find online but are only for short-term use and are to tide you over until your next payday should you find yourself short, for whatever reason. All you have to do is to prove that you are employed and have a regular income coming in every month and be at least 18 years of age or older.

If you only need a short-term loan there are lenders online who will lend you the money you need without a credit search being done.

If you are really desperate and as a last resort only there are private money lenders out there but should be avoided at all costs as they charge really high interest rates.
jamei Matteson Profile
jamei Matteson answered
Prosper.com will... But you can't have a lower credit score than 520.

I have what is rated as D credit in the low 600's and I have seen a lot of High Risk loans there or no credit ones... I wouldn't ask for a big loan to begin with though.

I only asked for the lowest amount I needed and that was 1000 dollars, the repay is 36 dollars a month for 3 years at 18% since it was what my state could charge... Check it out! They are for real...
thanked the writer.
Anonymous
Anonymous commented
The company prosper .com have gotten alot more stricter . I also tried to get a loan thru them and was declined as well and was surprised because a friend of mind told me to go to them.
Anonymous
Anonymous commented
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Aisha Profile
Aisha answered
You should get a bad credit loan. In that case even if you have a bad credit history or can not pay off, you can easily survive.
Anonymous Profile
Anonymous answered
Only scammers have been contacting me have not yet found not even one genuine loan lender yet in 5 years.
1 Person thanked the writer.
Anonymous
Anonymous commented
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thanks.
Anonymous Profile
Anonymous answered
Prosper.com has a credit requirement of 640.
Petr Skala Profile
Petr Skala answered

There are a lot of lenders who lend you with bad credit, but their interest rates are pretty high.

Lending Universe Inc. Profile
Lending Universe Inc. , Hard money lenders, answered

Hard money lenders can lend money with bad credit also. They are not asking for credit score also. So, you can easily get loan from them without credit score also. You also can obtain loan with unverified income information.

Rose Henderson Profile
Rose Henderson answered

There are definitely companies that will give you a loan with a bad credit score. They tend to have high interest rates though and they are set up to be used for emergencies. Make sure that you have a solid payment plan before you go for any of these loans. I hope this helps!

amy watson Profile
amy watson answered

Even If you have bad credit history then you can apply for payday loan with no credit check and you will receive the loan without any credit check easily.

Anonymous Profile
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Anonymous Profile
Anonymous answered

I cannot think of any real lenders who can help you out. Even if you could manage to find one, they'll exploit you to the core by charging ransome interest rates & most of them tend to be mere scammers. You can contact finance aggregator companies who have a tie-up with a large number of individual banks rather than approaching the latter & unknown money lenders for your financial needs.

Ashraf Gilani Profile
Ashraf Gilani answered

I cannot think of any real lenders who can help you out. Even if you could manage to find one, they'll exploit you to the core by charging ransome interest rates & most of them tend to be mere scammers. You can contact finance aggregator companies who have a tie-up with a large number of individual banks rather than approaching the latter & unknown money lenders for your financial needs.


ben lam Profile
ben lam answered
I am Mr Raymond Wong, I am from Singapore, I am glad to say thanks to Mr Udo Ahmed who bringing my business back to standard. It was from a good Muslim sister that I was able to find is contact for a loan you can contact him.
abby kerley Profile
abby kerley answered
What's crap about it all is that if you goofed up on a few debts 6 years ago, have paid them off and avoided debt since then.

You've actually been debt free for the last 3 years, they still won't loan you money!

Never mind if you have been responsible, always paid rent on time, only purchased things you can afford, no one's going to give you money to buy a house.

They'll just tax the s*** out of you too, help all the other people who managed to get a loan they couldn't handle, pay for their mortgages.

You're Welcome!
Anonymous Profile
Anonymous answered
My credit score is so bad I don't even know what my score is and I have so many losses in my life in the past seven years I don't know what to do with myself.

All I know is that I need to save my home, I am in forbearance foreclosure right now, and don't know what to... As far as I can see, there is no solution!
Anonymous Profile
Anonymous answered
"Real" lenders are in business to make a profit, not for altruistic purposes. They lend money to people who show a history of paying their debts on time.

Because of government monitoring to ensure fair lending, guidelines are set that must be met by everyone and the "so sad, too bad" stories are subjective and cannot be factored in to the decision of whether to loan money or not.
Jase Esaj Profile
Jase Esaj answered
I know this doesn't answer your question directly, but I too am not in my finest 'financial' days.

However, I have made a pledge to work on this and have read 'Automatic Millionaire' by David Bach.

Wow! A real eye opener and super easy read. I would recommend you read it too. I suggest visiting his website www.finishrich.com to read testimonials first.

This is a 'stitch', rather than just a 'bandage' to all financial wounds. Good luck and I hope you find a solution to your situation.

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