| Being a bad credit holder you get a loan, but not as easily as a good credit holder. Now there are poor credit loans available in the loan market. These loans are offered by the offline and online lenders also. There are different types of loans for the people with bad credit rating, that is, lower than 600 out of 850 in the FICO credit charts. Poor credit car loans, poor credit home improvement loans, poor credit educational loans, poor credit wedding loans , poor credit business loans and poor credit personal loans. These loans have competitive interest rate. But it is higher than the other loans in the market. It is available in secured and unsecured forms, like any other loans. Unsecured loans are good for those who can not afford to place collateral. Secured loan have low interest rate. The lenders allow flexible features for secured loans. These loans help in meeting the complex financial condition. It also gives you a chance to boost your credit rating. The rate of interest is 10.9%APR.The rate varies from 7.4% to 27.60%.You can avail through the poor credit loan ?5000 to ?75000. The repayment term varies fro 5 years to 25 years. These loans are offered by online lenders also. Banks and financial institutions also have the option. If you compare the different lenders online and research a bit, you can get a cheaper deal with competitive rate of interest. Secured loans are low in interest rates and unsecured loan are high in interest rates. You can apply the one which suits you the best. Online loans are without paperwork, faxing and hassle free. You can use the loan money to pay your debts, medical bills, holidaying, renovate your home and anything else. Before applying you should plan an efficient repayment plan and follow it to clear the loan timely. It should always be remembered that if you do not repay in time you will go even more down in the credit chart. |
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