Bad Credit Personal Loans 101
No one wants to voluntarily be in a state of poor credit. But sometimes it happens to even the most cautious. It can be due to pure financial mismanagement, but it can also be the result of the difficulties of life. The death of a loved one, a divorce, the onset of a serious illness, or a career crisis can quickly turn good credit into bad credit.
FICO score below 580 is considered to be a bad credit rating. But you can still get a personal loan if your score is below 580 or even if you have no credit history.
Once you have bad credit, you become a risky prospect for lenders. You are less likely to be approved for a personal loan. But you are not out of options. There are lenders that’ll lend to individuals with bad credit but with difficult terms. Even with not-so-perfect terms, these loans can be a godsend in helping you get back on track.
We can help you find a Bad Credit Personal Loan at the best possible terms! Don’t let bad credit stop you from investing in the right things!
Advantages of Personal Loan
Why get a Personal Loan?
- Lower Rates: Personal Loans typically offer lower interest rates than credit cards. They are a great option if you want access to funds at lower rates.
- Improve your Credit: Get a personal loan and make all the payments on time. By the time you’ve paid back the loan, your credit would have improved a lot!
- Fast Process: Your personal loan application is processed quickly and if all the documents are fine, you can get the funds in less than a week.
- Many Options: There are a lot of options available when it comes to picking the lender for your personal loan. You can choose the one with the best terms!
Best Personal Loans for Bad Credit - with GConnectPro
Finding a personal loan on reasonable terms can be quite difficult, especially if you have bad credit. Lenders can charge you a hefty interest rate or require you to provide significant collateral. At GConnectPro, we will help you choose from multiple competing lenders to get the right loan with the best terms. Getting the best personal loans for bad credit is easier than you think. Apply with GConnectPro to get your loan approved quickly!
How to get approved?
Few ways to get a Personal Loan if you have Bad Credit
You can use your personal assets, land/property, and other assets to secure a personal loan, even with bad credit. The emphasis is on your ability to pay back the loan, rather than your credit history.
Apply for a Lower Amount
If your requirements are flexible, then taking a lesser amount of money than what you originally planned for could be an option. Get a smaller cash amount to start and then you can get more if you pay it back on time.
Get a Cosigner
Adding a cosigner implies that they are willing to share responsibility for the loan with you. You want a cosigner to have good credit and the ability to cover payments if you’re unable to keep up with them.
Who qualifies for a Bad Credit Personal Loan?
Personal Credit Score
We will help you choose from over 50 lenders to find a Bad Credit Personal Loan at the best terms!Apply Now
Documents Required to apply for a Bad Credit Personal Loan
- Your personal identification
- Social Security Card
- U.S. Citizenship
- Certificate of Deposits, savings, bank statements for checking
- Whether you receive or pay child support or alimony
- List of unsecured debts
- List of assets
- Details of your job history
- Proof of Income and Employment
- VISA/MasterCard in your name
- Tax returns
Personal Loan Calculator
You can use the calculator below to see how much your loan will cost you!
Personal Loan Application Process
with Global Connect Pro Financial
- Application form: Firstly, you need to fill out our online application form giving us basic details of your loan requirements.
- Advisor Call: Our Financial Adviser will call you to discuss your qualifications, loan options, and help you prepare for your loan application.
- Loan Application: Once all the documents are ready and qualifications are met, we’ll move on to the actual loan application with the lender.
- Loan Approval: Our Financial Advisers and Agents will keep in touch with the lender to ensure that your loan is approved at the earliest.