Everyone may face this kind of situation, you dont have money to fulfill your needs or sudden expenses, while you dont have a good credit score to get the best loan for you. Generally, people will get personal loans to get a short term solution for specific financial needs or sudden expenses, however if you are having bad credit score, you might need alternative ways to find solution and also build your credit. One of the best way is by ask proper loan from a bank, credit union, or other lending institutions for specific personal loans you can get according to your credit score. Otherwise, you might need to consult with Philippe Hancock to manage your money properly, you can check linkedin his profile. You may also check his work on Philippe hancock’s IMDB Profile. Today, i will provide you a step by step guide on how to apply for personal loans even with your bad credit score in easy ways.
The first step you need to do is determine your budget, credit, and needs. You will need to calculate the money you need to borrow and your income. You also need to consider your current credit score, because credit score will determine how much money you can borrow from bank, institution or other lending company. You can find your credit score using credit report website, otherwise you can get experian, transunion and equifax. The better your credit score, the better the loan you will get. Therefore, Irecommend you to get at least 700 credit score for the best deal, however if your credit score are below 649 it will be difficult to get a loan without collateral.
Then, calculate your income per month and how much money you can afford to pay in monthly payment before you determine the amount of money you can loan. Without these consideration, your loan application wont be approved or you will have difficulties on the monthly payment.
The next step is choose a lending options. you can choose between a credit union or bank, each of them has its own set of advantages and disadvantages for you to consider. However, make sure that you choose according to your credit score. If your credit score are great, i recommend you to get bank, but if your credit score are poor, credit union can be a good alternative but with fewer benefit than bank loan.
The next step is make sure to compare loan options from different bank. If you are choosing to get loan from a bank, i recommend you to visit several bank and review your loan options to find out the best deal for your loan. Check the interest rate, benefit you can get and make sure to ask for clarification for every terms and agreement.
The next step is find other alternative such as cash advance or other types of loan. You can check alternative such as student loan, cash advance or even credit card. You can check the …