Most people seeking a bad credit loan do have poor credit and may have exhausted most of the available options to get a loan. If you are short of cash to repair your car or pay a medical or a utility bill, you need money right away and likely will not be able to seek a traditional loan as they take too much time to apply for and process.
Your credit score is a critical factor that banks and other financial institutions use to decide whether to give you a loan or credit card. While it is important to know the things that help you build a good credit score, you must also know the things that could hurt your credit score.
A good credit score shows that you are a responsible borrower who clears the loan amount on time. A good credit score is important for certain types of loans, including home loans. Borrowers who have missed payments or a lot of outstanding debts have a poor credit score.
Bankruptcy is a legal process which helps a person or business come out of outstanding debts that they can’t pay. The process begins when the debtor files a petition or sometimes, creditors also file a petition.
he types of payday loans covered under the Military Lending Act are those that are paid back in less than 91 days, do not exceed $2,000 and require a debit, check authorization or other methods of payment that are delayed for one or more days.