Bad Credit Personal Loans

Many consumers experience difficulty when trying to obtain a personal bank loan, simply due to their questionable past credit history, or former bankruptcy status. Banks exercise their discretion in denying applicants who have a less than prime credit rating or score.

Fortunately, some finance companies recognize the difficulty in someone with a bad credit history trying to gain approval to borrow money. A portion of lenders and bank loan companies are willing to make it easy for a person with bad credit or poor credit to gain approval for a low cost or affordable bank loan.

In some cases, banks offer what are termed " no credit check loans " in which a borrower's credit history does not play a factor in the application process. This type of arrangement is commonly available for short term or payday loans of less than $1000 or $1500.

Another option when applying for a bad credit personal loan is to include the use of collateral, which may be a key factor in persuading a lender that the payback risk is low.

As an alternative, a consumer could apply for what is known as a " subprime loan ". This loan arrangement usually involves a slightly higher interest rate, normally around .1%-.6% higher, but allows a borrower with bad credit to finance a purchase and begin to repair their credit. By establishing a subprime loan, they may be able to refinance their loan at a lower rate in the future.

The application process for these type loans remains convenient, especially online via the internet, often with an immediate or even overnight funding approval.







In addition, payday and personal loans can be established for these amounts:
$500 , $1000 , $1500, $2000 , $2500 , $3000 , $3500 , $4000 , $4500 , $5000 , $5500 , $6000 , $6500 , $7000 , $7500 , $8000 , $8500 , $9000 , $9500 , $10000 , $10500 , $11000 , $11500 , $12000 , $12500 , $13000 , $13500 , $14000 , $14500 , $15000 , $15500 , $16000 , $16500 , $17000 , $17500 , $18000 , $18500 , $19000 , $19500 , $20000 , $20500 , $21000 , $21500 , $22000 , $22500 , $23000 , $23500 , $24000 , $24500 , $25000 , $25500 , $26000 , $26500 , $27000 , $27500 , $28000 , $28500 , $29000 , $29500 , $30000 , $30500 , $31000 , $31500 , $32000 , $32500 , $33000 , $33500 , $34000 , $34500 , $35000 , $35500 , $36000 , $36500 , $37000 , $37500 , $38000 , $38500 , $39000 , $39500 , $40000 , $40500 , $41000 , $41500 , $42000 , $42500 , $43000 , $43500 , $44000 , $44500 , $45000 , $45500 , $46000 , $46500 , $47000 , $47500 , $48000 , $48500 , $49000 , $49500 , and $50000.

The largest cities offer the best opportunities for personal loans: New York City Los Angeles California Chicago Illinois Houston Texas Philadelphia Pennsylvania Phoenix Arizona San Diego San Antonio Dallas San Jose Detroit Michigan Indianapolis Indiana Jacksonville Florida San Francisco Columbus Ohio.