are have been one of the most difficult challenges here at Lazerloan.com
- trying to find lenders for borrowers who have extremely damaged
an applicant has a bad credit rating (based on bad credit scores
with Experian, TransUnion, and Equifax) lenders either won't lend
to them - period - or they charge the borrower interest rates
that are as high as legally possible in whatever state the lending
is being approved.
What we actually look for at Lazerloan.com are lenders that treat
bad credit applicants with decency, and don't gouge them. This
means that they have a fair-minded APR scale that does
increase the interest on the loan (for a borrower with a low FICO)
but does so using a slow linear scale of increase. In English
that means that the borrower pays less in interest on the principal.
bad credit loans that are purely cash loans is difficult as well.
The vast majority of conventional lending institutions will not
even consider an applicant with a bad credit rating unless they
have a co-borrower, co-signer, or some form of security - some
form of collateral.
this makes our challenge at Lazerloan.com even greater. We have
to find lenders that will lend money to borrowers that suffer
from severely bad credit scores, and these lenders must be willing
to take on the high risk note(s) with a reasonable interest rate.
You can imagine the challenge. Actually - if you are reading this,
you likely are EXPERIENCING that exact challenge.
many borrowers are trying to avoid high-yield lending products
(such as PDLs or cash
advances) by borrowing money to be paid back over time with
biweekly, or monthly payments. These would be installment
more information on bad credit loans feel free to bookmark Lazerloan.com
for future reference.
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