Frequently Asked Questions about bad credit loans


Frequently Asked Questions How can you tell legitimate loans from scams?
There are simple things to look at to differentiate the real thing and scams. Lending firms would not normally guarantee that the applicant will be approved for a loan. Another is that no upfront payment should be requested or given.
What is the best type of bad credit loan, a non-secured or secured loan?
Non-secured loan is the best option if you are looking for quick cash. One should remember though that with a higher interest rate for this type of bad credit loan, repayment might get a little difficult.
How to obtain a bad credit loan if you have a poor credit history?
Most firms providing bad credit loans are under the premise that borrowers may have bad credit history. However, some of them would require collateral prior to giving out the loan.
Can you get a loan if you are unemployed?
Firms normally do not provide loans for people without any work. As this is one proof stating that the borrower has means to pay the loan, particularly if the loan taken out is a non-secured loan.
How to get financial advice?
Before applying for a bad credit loan, applicants may want to seek financial advice from the experts. There are authorised financial advisers in banks, building societies and insurance companies.
What is the best venue in getting a bad credit loan?
Although there are several options for applicants to look into from traditional banks to online lending companies, it is best still to compare and look at the different offers of each company.