Are Bad Credit Loans Safe?
These days we hear a lot about bad credit loans, one of the most asked questions is ‘Are bad credit loans safe?’. Are they really what they claim to be and are they a safe bet when it comes to financing? Not surprising that you are somewhat skeptical. After all, in the past we’ve heard a great deal about loan shark rates, and loans were a payment that was only a day late would result in the repossession of the vehicle. There’s plenty of horror stories to go round.
But wait! There’s good news if you have bad credit.
Today’s bad credit lenders are for the most part a very reputable bunch. Of course, as with anything it’s important that you do your homework to ensure the lender you are planning to get your bad credit loan from has a stellar reputation.
During these tough economic times many have found themselves faced with bad credit. A bad credit loan offers you the opportunity to begin to rebuild your credit. These lenders can be found in a number of places. There is likely at least one right within your community. There are also many of these lenders available online, offering a variety of loan types.
Whether you are looking for a bad credit home loan, in need of a second chance car loan, or hoping to get that your first personal loan now that things are turning around, bad credit loans today are a great way to begin to rebuild your credit, and to get that loan you so desperately need right now.
So what should you look for when seeking a lender for bad credit loans?
- Do they post a phone number and address? Phone to verify their existence
- Check with the Better Business Bureau
- Are they asking for more information than is generally requested? Proceed with caution
- Is the interest rate way to high? Look for another lender
It’s very important to check your credit file as well, we are able to complete a free credit check for you, even if you choose to not get a loan in the end!
A quick search online can tell you tons about any particular company. Make use of this resource. Then relax and take advantage of the loan being offered.
antony deutscher
i would like to know if i can get a personal loan to buy a car and medical bills, as do not know if i would qualify i never have had bad credit before i have paid out 2 home mortgages before and as we were living in our third home we both lost our jobs and then to cap it off as we were living in bundaberg they had two massive floods in 2010 and 2011 which we could not sell our home no one wanted to buy the house,after 6 months we sold but we were short to pay out the rest of the mortage so we got a debt negotiator to pay the bank out and we would pay the rest we have being the loan of weekly for the past few years on what we owe and i think there is only about 3k to pay out the mortgage.but i think they wont let me have loan and i desperetly need a car.thankyou.
Angela Monroe
Hi Anthony, to answer your question, we’d need to have a chat to you to complete a loan pre-assessment. Having a home of your own will definitely count in your favour! Call 1300 769 384, or complete a quick quote form and we’ll talk to you soon.