Do you have a professional or personal project but you have a bad credit history and you think you cannot get a loan? Because it can precisely allow you to bounce back after a difficult financial period, here are our tips for quickly obtaining a loan and building your projects.
Bad credit generally affects many areas of life: it can affect getting a new job, the ability to rent an apartment, buy goods in department stores, but most importantly, it affects people. possibilities to borrow from banks.
Find a guarantor
If you do not meet the eligibility criteria of the lender you contacted, consider asking one of your relatives, a friend or a family member who is eligible to act as guarantor for you in order to help get this loan. If you find the person who is willing to help you, that person will also be subject to the approval of the lender. He will check everything on his credit history but also on his personal assets at the time of the request. Your loved one must be aware and ready to make a financial commitment for you, as well as to add a loan to their own credit report, which could limit their borrowing capacity later on.Also, he should be aware that he will have to meet your obligations if you miss them.So that both parties are calm in this process and even if the two parties are close, it is preferable to establish a written contract of engagement between the lender and the borrower in order to avoid any conflict.
Apply for a secure credit card
Secured credit cards or secured credit cards are made to meet the needs of different people: those who have contracted a bad credit report, those who do not yet have a credit history but who need it and therefore anyone who wants to establish or restore their credit history. They are issued by the same credit companies as those that hold conventional credit cards (mastercard, visa, American express, etc.) but their specifics are that they require a security deposit which will ensure that the company can be reimbursed. in the event of non-payment on your part. Any additional deposit then increases your credit limit. Please note, these secure credit cards can include many inherent costs such as file opening fees, monthly fees and annual fees.
Get a personal loan without a credit check
Private companies that are comparable to private lenders can allow you to quickly and easily obtain small credit without the need to show your credit history. These personal loans can range from around $ 300 to $ 1500, depending on the company, and are usually paid in the same day as the bid. It is done online, on a website for maximum speed in case of urgent need of money. No investigation is carried out because the company is satisfied with verifying your identity, your coordinates, your professional situation as well as your references in order to be able to be certain of your good refunding. She also requests all supporting documents for this information, but of course always works in complete confidentiality. If you meet certain conditions, such as having had a stable job for at least six months,
Finally, remember that getting a personal loan with a bad credit is easier than you might think, so take this opportunity to move forward.