Stop looking for loan sharks who get a bad credit installment loan in Maine.
what four ways are there to get a personal loan if you have a bad credit rating just to clarify what a personal loan means it’s simply a loan that isn’t secured against a house or a property so it’s an unsecured type of loan so that that’s what I’m referring to as an as a personal loan so my first one is a bad credit credit card so these work in a very similar way to a conventional credit card but interest rates are typically a bit higher they’re around the sort of thirty-five to forty percent mark you can typically only get credit up to about fifteen hundred dollars.
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They do have a time about a week or two weeks for you to apply to get that loan before you know you find if you’re successful or not in terms of your application and also there are some conditions which will apply so some of them, for example, you can’t your last bad payment or missed payments needs to be at least six months ago or last mark when your credit file needs to be six months or sometimes even a year ago so there are conditions that apply so there can be a good option and so it’s always worth applying and seeing if they if you can get a bad credit credit card my second one is a guaranteed loan and they are typically available from 50$ all the way up to ten thousand.
The five hundred guaranteed loans which are short-term loans up to a month they can have interest rates up as high as about 700 percent APR which is a lot cheaper incidentally than a payday loan or shark loan which can be up to five thousand percent APR so and they very quick you can have the money same day sometimes in an hour but you do need a friend or family member a guarantor basically to back up your loan.
They will need to have a good clean credit file and they’re there to back up your loan and if they’re there obviously where you can get that loan a lot cheaper than if you went for a payday loan which could be three-four five thousand percent APR compared with these which are about the seven hundred percent APR mark so we short-term guarantor or guaranteed loans and then there are longer-term guaranteed loans which are typically from 500$ up to 10,000$.
These payments will typically be spread over a year to five years and they have an interest rate of around 50 percent depending on which lender you go for they vary again.
You’ll need someone to guarantee your loan so again a friend a colleague a family member who has a clean credit rating so will be backing up your loan we provide these types of loans if you’d like to find out the options.
There are for you what the costs may be and get a number of quotes and compare options from the whole market of guaranteed loan lenders please just fill out the form and look at our loan calculator on this page and this will help you just make a decision for this type of loan and if it’s right for you my loan number three is the doorstep loan and this type of lending is we can borrow typically between one and five hundred and they can be quite quick so you can get the loans very quickly the interest rates are typically about 275 to about 550 percent APR.
These types of loans are typically spread over about a year and in terms of your repayments, the difference with these types of loans is that the lender’s agents will actually come round to your house and will pick up the loan repayments so it’s just that they’re a slightly different version of the sort of short-term lending but the payments of spread out you can compare with payday loans where typically you would make the payments you pay it all back in one lump these are repayments and paid out over a year so doorstep loans and finally I’ve mentioned these a couple of times before those payday loans and you’ve seen them the adverts on television there’s lots of especially during daytime television there are lots of adverts about payday loans typically up to 500.
Typically you borrow this for three for sort of two three-four weeks up to your next payday they can be very expensive they’re very much only designed for short-term lending so if you need some cash just for a couple of weeks they can be a good solution.
But if at any time longer than that they can get extremely expensive and be the cause of some major difficulties so full way to get a personal loan if you have bad credit my loan number one was bad credit credit cards no number two was the guaranteed loan number three was the doorstep loan and loan number four was the payday loan we can give you some a range of quotes from lenders on the guaranteed loans and if you like to fill out the form on this page and maybe find out what the options there for you please fill this out and we’ll get you a range of quotes thank you.