Bad Credit Unsecured Personal Loans – Loan Offers from Banks and Lenders
Posted on | March 20, 2010 | No Comments
If you need extra cash for a down payment on a house or car you might want to consider a bad credit unsecured personal loan. This loan type can often allow you to borrow up to $15,000 for whatever purpose you desire. There are many loan offers from banks and lenders that you could receive if you do your research.
At the present time we are seeing interest rates between 12% and 18% for personal loans but this is for borrowers with good credit. If you have very bad credit then you are likely going to find that your personal loan will have an interest rate in the high end of this range or possibly even above 20%.
By contacting several banks and lenders you will be able to better tell what interest rate you will qualify for. If you have a credit score that is below 650 then you are going to find that your interest rate will definitely be in the top end of this range or possibly even higher.
Make sure to do your research and due diligence before taking out a personal loan. It would be a wise decision to step back and look at the big picture before making any final decisions. If you are drowning in debt then it may not be wise to take another line of credit as this will only cause more problems.
Author: Jeremy North
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