Well, there are a number of US lenders who are willing to offer loans for people with bad credit – and this is the foundation of their business. These lenders understand that keeping a perfect credit score is very difficult, especially with rising living costs and emergency situations which can require money fast and can easily make you fall behind on payments.
So if it is guaranteed approval loans that you are looking for, there are a number of bad credit loan companies out there and their loan products are adjusted to suit people with poor credit histories. Perhaps the loan terms are a little longer and you can pay back in multiple installments, or maybe there is just a limit to the amount you can borrow. In some cases, the rates charged might be a little higher to reflect the potential risk of default.
But just because you have a bad credit score does not mean that you are not trying to improve or could be a good person to lend to. In fact, you may have overcome a tough situation and are now on the road to improving your credit score.
If you have a very poor credit rating, Pheabs have a number of lenders who are willing to consider your application. You just need to have a stable income and can commit to making your repayments on time each month.