Loan Options For Bad Credit
When it comes to credit, it can definitely be haunting if you’ve ever had trouble with yours. Luckily, there are still loan options for bad credit borrowers. This is great news for anyone trying to get a loan with bad credit. It only takes one missed payment, an increased spend amount on a card, or other financial issues that come unexpectedly to empty your savings and hurt your credit.
When your credit has blemishes, creditors and lenders will view you as a high-risk borrower. This means it may be more difficult to get a loan or even a credit card, even if it’s really needed. Not to worry thought – Bravafi is just one of the loan options for bad credit borrowers that helps you access the cash you need.
Loan From Friends or Family
Sometimes there are friends or family members that are able and willing to help in times of financial need. However, not everyone enjoys having to ask family and friends for a cash loan.
If this sounds like you, maybe consider asking a family member or close friend to co-sign on a loan for you instead. Getting approved for a loan when you have bad credit is more likely to happen if there is an additional borrower on the application (with good credit).
However, if you consider any loan options for bad credit, it’s important that you know you can pay back the loan, regardless of the kind you end up taking. Having a co-signer can be helpful, but it’s also a risk for them because if you default on your payments, the lender will likely be contacting the co-signer seeking the money for your outstanding payments. Before you take a loan of any kind, know for certain that you can afford it.
Credit Union Loan Options for Bad Credit
In some instances, you may be able to get a loan with a local or regional credit union. Of course, if you research this option, be sure to look at the terms for repaying the loan and the interest rates. They may prove to make it not worth applying for this type of loan.
On the upside, credit unions are more likely to be sympathetic to your situation and hear you out, unlike traditional banks who only care about your credit; past or present. If poor credit is why you’re applying with a credit union, have the papework ready that proves your steady income and inform them of any recent efforts you’ve made into cleaning up and improving your credit.
Loan Options for Bad Credit – Title Loans
Vehicle title loans are another option if you need a loan but have poor credit. You can qualify without having a co-signer and less than perfect credit. This type of loan offers cash fast and uses your vehicle as collateral for the loan. The amount you can borrow is determined by the equity in your vehicle.
Title loans have helped many bad credit borrowers access the funds they need. The interest can be high but it’s still lower than alternative options and paying it off early will help you avoid paying extra on interest.
Using your vehicle title as collateral, you could receive anywhere from $2,000 up to $10,000, possibly more in a short time frame. Your credit is not a primary factor in your eligibility. The lender will look at your car’s value as well as your ability to repay the loan. A car title loan is among the most preferred loan options for bad credit borrowers and for good reason.
Apply With Bravafi Today
If you’re tired of getting denied for a loan because your past credit mistakes, consider applying with Bravafi for a pink slip loan. It’s a great way to access the emergency cash you need and has fewer requirements to be met. Regardless of how you get the cash you need, remember to go over your budget and determine what you can pay, realistically, in order to find and choose the best loan option for you. Apply with us by phone at (855) 544-2388 or use our short and simple online application form.