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Bad Credit Unsecured Personal Bank Loans – Can CitiGroup Help Me?

Posted on | November 11, 2009 | No Comments

Getting a bad credit unsecured personal bank loan is much more difficult than it has ever been. Recently Bank of America has announced that they will no longer offer personal loans. With this being the case it is very likely that many other big banks and even small banks will stop the personal loan process.

There has not been word that Citigroup is going to stop the personal loan process but with Bank of America taking this approach there is a strong possibility that it could happen. Citigroup offers many other types of lines of credit so there is a chance that they will continue their personal loan business. The issue that Citigroup has is that their credit card division is making things very difficult.

Many CEOs feel that the credit card market will not return to profitability until at least 2010. Citigroup has a great amount of money in their credit card division and this is one of the main reasons we have seen their stock price plummet over the last year. This does not mean that you cannot get a personal loan from Citigroup.

It is very important that you do your research and figure out what personal loan company is best for you. There are many companies out there who work specifically with bad credit borrowers to offer them unsecured personal loans. This might be a route in which you want to take and you can avoid dealing with big banks.

Many of these bad credit lenders are advertising very hard on the Internet and television. This means that they are willing to do what it takes to get you as a customer. Make sure to contact these companies and see if they are willing to offer you any special discounts or possibly incentives. Some of these lenders have had just as hard of a time through the recession as you have said they are looking to gain as much business as possible.

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Author: Alan Lake

Category: Bad Credit Unsecured Personal Loans

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