"Where can I get a loan with bad credit?" Asking such a question makes sense because there are many lenders who outright refuse to grant loans if a person has a damaged credit report. However, people with a bad credit history need not be disappointed. There are several specialist lenders who come to the rescue of the debtors with bad credit. There are many options a debtor with bad credit can turn to. A bank is one of them.

Bank can be an alternative:
A person with bad credit can approach the traditional banks. The reason being, investments made by banks are very conservative. There are more chances that a bank will grant loan to a person who has a bad credit because the money they are using actually belongs to the depositors. From time to time, banks offer various plans to help out people in financial distress. A debtor with bad credit may avail such a program.

Another way of doing away with debts is not to take an additional loan again; instead a borrower may opt for debt management plan. Taking another loan will only add to more troubles for the debtor. It will lead to a vicious cycle of bad loans. A debtor with bad credit can also work out either all by himself or with the help of a debt consolidation program to lower the interest rates and allow the debtor to pay a lower monthly installment.
Hi ,My name is Elaine and I am trying to get a sma...
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Hi ,My name is Elaine and I am trying to get a small loan. I want to use this loan to pay off my credit cards, I will also use the money as a cushion to make sure that I have money for the lil things that come up, I have 3 wonderful boys ages 13,9 and 7. I have been through bankruptcy about 14 yrs ago.I need help to improve my credit.Your site looks very interesting and has alot to offer. I appreciate everyone's help.
Thanks Elaine




Welcome to the Community Elaine :D Please think twice about getting a loan to pay off debts, it kept me in that viscious cycle! If you need help with your debts, you may consider debt consolidation, where all your bills are put into one monthly payment with lower interest.

Have you contacted your creditors to see if they will lower or drop your interest so you can pay these off? I have done that, and they have worked with me. Also, I started with the lowest cc and paid extra and got it paid off, then took that payment and added it to the next lowest ones' payment, and so on.

Unless you can get a loan through family or friends, I would try to find other resources to deal with my debt. Feel free to ask questions, we ar here to help!..Karen

Sub: #1 posted on Fri, 08/17/2007 - 20:45

Bossy4455 Bossy4455
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(Posts: 5854 | Credits: 743.03)

Why not you try some other ways of paying your debts? Try with your bank and see if they can offer you any help. They have some financial hardship programs for people in need. Any legit financial institution will not be willing to offer you a loan because of your bad credit. You need to be very careful of the scammers who offer loans to people with bad credit. They are nothing but rip off. They will charge you some upfront fees and run away with your money. In my opinion, you should speak to some debt management company in your area and enroll in a consolidation plan. All your debts will be put under one payment plan and the counselor will drop your interest rates with the creditors. This will be much easier without taking a new loan and paying high interest rates on the principal. Because of your bad situation, you'll be digging a hole deeper with one wrong move. Take some professional advice and know your best options.

Sub: #2 posted on Fri, 08/17/2007 - 23:13

Steg Steg

(Posts: 391 | Credits: 56.66)

You can try prosper dot com, but I would recommend finding help here. Many here have got their debts into a debt management program through Langhorn Law or Town and Country Associates. They deal with payday loans also. You can list more information, but no persoanl names or numbers please.

thanks

Sub: #3 posted on Sat, 08/18/2007 - 02:48

Lukeskywalker Lukeskywalker

(Posts: 1909 | Credits: 185.22)

I tried Prosper.com, at one time. You may have a tough time, if your credit score is below 600. Also....their advertisment sounds good ( when you read the website), but, when you read the 'fine print', it's a different story. The website says " you will pay one very low payment a month"..but, the'fine print says " if u have a credit score below a certain amount, you may have to pay a fee, to get the loan". Hope this helps anyone.

Sub: #4 posted on Sun, 08/19/2007 - 18:52

sdchargers_63 sdchargers_63

(Posts: 1798 | Credits: 179.17)

my creidt score was 574 and I paid no fee and I got a great loan.

Sub: #5 posted on Mon, 08/20/2007 - 02:19

Lukeskywalker Lukeskywalker

(Posts: 1909 | Credits: 185.22)

WOW!! My credit score, at the time, was 530. I was told I would have to " pay a $99.00 fee, to get the process started, and THEN they would consider a 'high risk loan' for me. Who did you deal with?..did you deal with a specific person?

Sub: #6 posted on Mon, 08/20/2007 - 06:54

sdchargers_63 sdchargers_63

(Posts: 1798 | Credits: 179.17)

r u talking about prosper dot com? I have had this loan since Oct 06. i had so much verification to fax them, but I did it. Had to pay nothing up front and my check was direct deposited in my checking account.

Sub: #7 posted on Mon, 08/20/2007 - 06:56

Lukeskywalker Lukeskywalker

(Posts: 1909 | Credits: 185.22)

Yes..I am talking about Prosper.com. According to them, I would have had a 'high risk loan'. And the $99.00, etc. was the "procedure they go through" for these kinds of loans. And..to 'top it off', they sent me a survey to fill out, on their Customer Service....did I have a 'field day' filling that out! They never said anything about faxing information. They DID check my credit report, however.

Sub: #8 posted on Mon, 08/20/2007 - 07:03

sdchargers_63 sdchargers_63

(Posts: 1798 | Credits: 179.17)

wow, is was not like that 6 months ago, sorry to hear that. but you know what, i wished i was denied because a few months after i got the loan, i was in a mess agian and i went to 3 payday loans and was right back where i was but worse, now i have a loan also to pay off. if i knew of this site then, i would of stayed away from all of them. this site has info. on companies that can combine debt and pay alittle a month that includes debts like payday loans, credit cards, etc. ask these people to help you, and they will, trust them, I did.


thanks

Sub: #9 posted on Mon, 08/20/2007 - 07:08

Lukeskywalker Lukeskywalker

(Posts: 1909 | Credits: 185.22)

I'm not saying Prosper.com is like that with everyone who applies, I'm just telling you MY personal experience with them. Maybe it was a good thing I din't get a loan from them. that would be MORE debt for me.

Sub: #10 posted on Mon, 08/20/2007 - 09:15

sdchargers_63 sdchargers_63

(Posts: 1798 | Credits: 179.17)

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