These personal
loans with bad credit tend to have very poor terms, not just because they are unsecured but also because the applicant has a bad credit score.
Not exact matches
However, there is no getting away from the fact that lenders are taking risks when approving
loans for people
with bad credit, and so
tend to apply some extra strict criteria when assessing an application.
One of the myths people
with poor
credit scores
tend to believe is that
bad credit is automatically a roadblock to getting a home
loan.
Also, online lenders
tend to be less uptight about
credit scores, making it easier to get home
loans approved
with bad credit.
People
with bad credit should consider nontraditional financing options — which
tend to place less emphasis on
credit scores — before giving up on getting a
loan.
Borrowers
with bad credit could pay significantly more than this, because lenders
tend to charge higher auto
loan rates for «high - risk» consumers.