Best Secured Bad Credit Loan Options
Most lenders are looking to provide loans to people with security. The lenders want their money to be protected with assets as collateral. If you do try to apply for a loan with bad credit, having security can go a long way. Security refers to the equity in your home, refinancing your vehicle or finding a co-signer. The lender will place a lien against your asset to secure the loan. Even when you are using security, it can be difficult getting a secured loan. Lenders still check your payment history as they do not want to risk having to repossess your assets. If you are planning on using security to secure your loan, you are risking the possibility of losing your assets if you default on the loan payment.
Bad Credit Auto Financing
If you are searching for an auto loan up to $45,000, look no further. This auto loan provider specializes in auto loans for any credit score. Give them a try today: Auto loans -- Bad Credit? No Credit? No Problem!
Secured Auto Purchase and Refinance
LendingTree offers hundreds of auto lenders that will help you buy the new car or refinance your existing vehicle. This can be a great way to get capital out of an asset. This provider can refinance your vehicle and get your capital back to you.
Unsecured Bad Credit Loan Providers
A bad credit loan definition is referring to a credit score. When a credit score is below 580, this is typically referred to as bad credit. If your searching for a loan with a credit score below 580 without collateral/security, you're applying for an unsecured bad credit loan.
What you can expect when you apply for a bad credit loan:
- Loan amounts normally do not exceed $5,000
- The term of a bad credit loan is much shorter with the longest term around 36 months
- Interest rates will be much higher with some starting over 25%
Secured Credit Cards
- No Credit History or Minimum Credit Score Required for Approval
- Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
- Credit Line Secured by Your Fully-Refundable Deposit of $200 -- $2,000 Submitted with Application
- Nationwide Program though not yet available in NY, IA, AR, or WI
Unsecured Credit Cards
Get the security and convenience of a full-featured, unsecured VISA® Credit Card – accepted at millions of merchant and ATM locations nationwide and online.
- Checking Account Required
- Reporting monthly to all three major credit reporting agencies
- Perfect credit not required for approval; First Access may approve you when others won’t
- Easy and secure online application
- If approved, pay a Program Fee and you can access the $300 credit limit (subject to available credit)
- The First Access Visa Card is issued by The Bank of Missouri pursuant to a license from Visa U.S.A. Inc.
Unsecured Payday Loan Debt Consolidation: $500 to $5,000
Consolidating payday loans with 400% to 1500% interest rates will save you money. OppLoans offer an installment loan which provides equal payments over a set period of time to get rid of payday loans.
Debt Consolidation Personal Loan Options
An unsecured personal loan is a great solution if your credit score and credit history meets the criteria of the lender. We have listed personal loan providers with credit scores starting at 590. This lender group offers loans ranging from $1,000 to $100,000. When banks consider a 620 credit score a high risk, online lenders are happy to receive your loan application
Co-Signing or Joint Signing
FreedomPlus specializes in co-signing with loans up to $40,000. If you are considering co-signing or asking someone to co-sign, we have provided information that explains the pros and cons of co-signing.
Secured Home Equity Loan or Home Equity Line of Credit (HELOC)
A home equity loan or home equity line of credit (HELOC) provides an excellent way to consolidate debt even with bad to fair credit score. The home equity provider we have listed has consolidated over 1,500 companies to give you the greatest chance to qualify for a loan. When you have good credit and the bank looks to provide a home equity loan or HELOC, they will normally finance the property up to 80-90% of the loan to value. The loan to value is the difference between the size of the mortgage and what you will get if you sold the property. With bad or fair credit, the loan to value may drop to as low as 60 to 70% and the interest rates may be higher. This will mean that the amount they are willing to lend will be lower.
Reverse Mortgage Options
Business Loan Refinancing
We have added a number of business loan providers that will look at a debt consolidation loan with personal credit scores starting at 500. Some conditions apply including the time in business and gross annual revenues.
Free Credit Score Repair
Novita offers a free service credit rebuilding program
Research your Credit Score and Credit History
It's always a good idea to check your credit score and credit history before applying for a loan. Look through the report and check and see if you agree with everything on the report. If you disagree with the information on the report, contact the credit bureau and let them know that there is an error.
If you find errors in your credit report, Lexington Law helps consumers repair errors on their credit report.
America Loan Service was contacted by Valeska looking for a secured loan. We sent them many options for their review.
Valeska is a cosmetologist from Pratt, Kansas who wants a $48000 secured loan. In 2011, Valeska and her husband had maxed their credit cards to pay medical bills on her SunTrust Cash Rewards and her NEA Platinum Plus Credit Card. The debt was valued at $48,000, and Valeska only made $59,000 per year after tax. They were only paying the minimum payment every month and decided to add this debt to their home.
A secured loan for $48000 in Kansas near 67124
Seeking financing often impacts clients credit scores. Once accepted, individuals experience alterations to their credit. Valeska underwent diverse variations to their credit during the approval of this $48000 secured loan. Valeska had an initial credit score of 487.
- On the Fico system, Valeska had a 587 credit rating, a bad credit score
- Valeska had a rating on the Transunion scale of 473, which is regarded as bad credit
- On the Experian scale, Valeska had a 497 credit score, a bad credit rating
Details on the lending institution called Emprise Bank from Pratt, Kansas
- Emprise Bank
- Street Address: 906 East First
- Branch city: Pratt
- Branch state: Kansas
- Branch zip code: 67124
Valeska had a Fico score of 487, regarded as a bad credit score
Valeska has a Transunion score of 473. This is a bad credit rating. Credit scores like that of Valeska alter lending choices
Valeska has an Experian score of 497. This is a bad credit score. If your score is bad like Valeska, it won't affect your probability of finding a loan
- County: Pratt
- Home State: Kansas
- Current zip code: 67125
- Current income: undisclosed
- Profession: cosmetologist
- Credit Card Debt: $0 on their Popular Community Bank Platinum MasterCard
Valeska Is From Pratt, Kansas And Contacted America Loan Service Searching For Credit Card Debt Help When The Family Had Credit Cards At Their Limit. America Loan Service Sent Valeska To The Experts Listed On This Site And Has Found The Help They Were Looking For.
Valeska in Pratt, Kansas has credit card debt problems and went to Emprise Bank for assistance to pay out their credit cards with a secured loan that has lower interest rates. The loan advisor pulled their Fico score and took them through the information line by line. Valeska realized that they lot more debt them first anticipated and were turned down.
7.8% Debt Consolidation For Valeska In Pratt, Kansas
You can use a lot of different loan products to get to a debt consolidation loan. If your credit rating is very good, an unsecured personal loan will provide low-interest rates.
- 1) Fair Credit Applicant Dayshaun Gets Personal Loan For $120000
- 2) Alijah Has An Experian Score Of 461, And Gets $196000 From Bank Of Commerce
- 3) Bad Credit Client Kathe Gets Personal Loan For $54000
- 4) Ajmal Has A Transunion Score Of 540, And Gets $120000 From The Rochelle Bank And Trust Company
- 5) Kymone Has A Fico Score Of 447, And Gets $18000 From First American Bank And Trust Of Friendswood
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