Bad Credit Loans Reviews- What You Need To Know About Bad Credit Loans.
Bad Credit Loan Reviews
Name: Bad Credit Loan
Price: APR 5.99%-35.99%.
Overall Rating: 7.3/10
Ever feel like you need more money to keep your heads above the water at least until your next salary? Most of us don’t make enough money to sustain us throughout the month.
In some cases, we have emergencies and unexpected expenses that eat deeply into our savings and leave us with nothing. It happens, that’s life for you.
When you need to borrow a small short-term loan, who do you turn to? A friend or family? The problem is that your friends or even your family member may be going through their own problem and may not be in the position to help you.
It is not always their fault. Everyone has a responsibility. Fortunately for you, you have a lifeline in the name of payday lenders.
Over the years, payday lenders have saved a lot of people from financial trouble. Back in 2012 when I was struggling in college, I made use of payday lenders to pay my tuition and avoid being kicked out of school.
But the problem is that it is always difficult to know who to trust when it comes to getting loans from these lenders.
Today, there are many payday lenders. You don’t need to look far to find them. With a little internet search, you can find as many payday lenders as you want. Unfortunately, most of them can’t be trusted.
Most of them exist to make money from you. When you need to get a quick loan, you need a trusted platform and this is what Bad Credit Loan is all about.
What is Bad Credit Loan?
Don’t let the name deceive you, Bad Credit Loan is a company that has been in the existence since 1998. It is a platform where anyone looking for a short-term loan can get access to the most trusted payday loan lenders.
Unlike other platforms, Bad Credit Loans only works with lenders who can be able to give you a loan of a minimum of $500 and maximum of $5,000 to be paid within 3 to 36 months.
Like the name sounds, Bad Credit Loan is designed for people who have a bad credit score and can’t be able to get a loan from the bank. There is hope after all if a bank refuses to give you a loan as a result of your bad credit score.
Bad Credit Loans will match you with third-party lenders who can give you up to $5,000 loan to be paid back in 3 to 36 months.
Your options are really limited when you have a bad credit score. No bank will lend you money and most lenders will turn you back but Bad Credit Loans won’t.
This company may be your last resort when you really need money but you have no one to turn to. Bad Credit Loans have been working for people with bad credit for over 20 years; they will give you the loan you want when you want it.
Who is Responsible for Bad Credit Loans?
This company is created and operated by Chief LLC. It is a Nevada-based Limited Liability Company. The company has been around since 1998 making them one of the longest payday loan lenders marketplaces.
Please note that Bad Credit Loans is not a direct lender, instead, it will connect you to a platform where you can be able to access the loan you need.
How Does Bad Credit Loans Work?
Bad Credit Loans exists only to connect people with bad credit score with a private lender that will be willing to give them up to $5,000 in a loan. The company made it clear on their website that they have been working with people who have bad credit since 1998.
When you are in need of a short-term loan and you don’t know anyone to turn to, you can always turn to Bad Credit Loans. The website is very easy to use. The website is open 24/7 and you can request for a loan anytime you want.
Once you are on the website, simply add the amount of loan that you want to get and your email address. You will be asked certain questions such as your address, zip code, the amount of loan you need, your employment details and many more.
After answering these questions by filling the form provided on the website, they will check to know if you meet the requirements, once you meet the requirements, you will be presented with a list of lenders to choose from.
You will have to go through the list of these lenders, check their policies, their terms, and conditions, to know if it is favorable to you. Don’t choose the first lender, endeavor to go through as many lenders as possible to find the one that suited you the most.
Once you find a lender you like, you can then go ahead and choose the lender. If you are able to fulfill other requirements, you can get the money you need in your account early morning the following day.
Requirements to Get Loan From Bad Credit Loans
Some of the requirements to get a loan from Bad Credit Loans include:
- You must be a citizen or permanent resident of the United States
- You must be up to 18 years of age
- You must be earning at least $1,000
- You must be able to show proof of your legal status
- You must be able to show proof of employment for past 3 months
- You must provide your phone number and email address
- You must have a checking account
If you meet all the requirements listed above, the money you requested will be sent to the checking account you provided within 24 to 72 hours. However, this will depend on the lender you choose.
When working with Bad Credit Loans, the typical repayment period is between 3 months and 36 months. The APR on the money borrowed usually range between 5.99% and 35.99%. However, this will depend on a number of factors including your choice of lender and the amount you borrowed.
To repay the money, you will have to provide your checking account, the money you borrowed plus the interest will be automatically deducted from your checking account once it is time for you to pay back the loan.
You should also note that there are heavy fees to be paid by borrowers who miss a payment. However, you should be fine as long as you continue making your payment on time.
Who Is Bad Credit Loans For?
Anyone who needs a fast short-term loan can make use of Bad Credit Loans. However, you need to be a permanent resident or a citizen of the United States to be able to get the loan you need from them. You will also need to meet other requirements.
If you need a short-term that is significantly higher than what other platform offers, then you should check out Bad Credit Loans, they offer as much as $5,000 in a loan to be paid back within 3 to 36 months which is more than what other platforms offer.
What I Like About Bad Credit Loans (Pros)
Bad credit loans have been around for years. This company has saved thousands of people who need fast help. If you are hoping to get a quick short-term loan, there are a lot of reasons why you should consider making use of Bad Credit Loans.
Some of these advantages include:
- You can get a loan with a bad credit score
- They provide quick loan approval
- No approval fee applies
- They are safe and secure
- Provides quick funds
- Easy to use website
- The website also allows you to electronically sign loan agreements.
- Your application can be approved in 5 minutes
- They get the best loan terms for you
What I Don’t Like About Bad Credit Loans (Cons)
Some of the disadvantages of Bad Credit Loans include:
- You may find it difficult to know specific APRs and loan amounts online
- High-interest rates
Here’s My Final Opinion About Bad Credit Loans
In the world of today where payday scams are on the high, Bad Credit Loans exists to help you avoid these scams. Moreover, if a bank rejects your loan request, Bad Credit Loans will always get your back.
Personally, I like this company because they are transparent and provides quick and efficient services. You can always access the loan you need from them very quickly.
I recommend Bad Credit Loans to anyone who is looking to get a fast loan up to $5000 and pay between 3 and 36 months.