Q:

Which companies offer loans for people with bad credit?

A:

Companies that offer loans to people with bad credit include banks that provide home equity lines of credit, credit unions and peer-to-peer lenders, according to Quick and Dirty Tips. Individuals can also ask friends and family for a loan or to co-sign a loan.

According to Quick and Dirty Tips, those who have equity in their property might be able to secure a home equity line of credit. If the debt isn't paid back, the individual may be forced to move out of his home, notes Green Path Debt Solutions. One advantage of going to a credit union for a loan is that it often offers lower fees than banks. With a peer-to-peer loan, the individual borrows from another individual as opposed to a financial institution.


Is this answer helpful?

Similar Questions

  • Q:

    What are some good long-term loans for people with bad credit?

    A:

    The best long-term loans for people with bad credit are secured loans. Secured loans are so named because lenders get a legal claim on borrowers' properties or other assets. Because they are secured, secured loans have lower eligibility requirements and longer payment periods. People with bad credit can also turn to lenders such as Cash Loans with Bad Credit for loans. However, their eligibility requirements are generally higher.

    Full Answer >
    Filed Under:
  • Q:

    What is a credit default swap?

    A:

    A credit default swap transfers the credit exposure of certain products between companies, according to Investopedia. The entity that purchases the products in the swap makes payments to the seller until the contract matures. In turn, the seller promises to pay third-party debt if entities default on their agreements. A CDS is considered insurance against default, especially if the buyer speculates the third party may default.

    Full Answer >
    Filed Under:
  • Q:

    What kind of credit does Fry's offer?

    A:

    Fry’s Electronics offers three different credit options based on the type and cost of the item being purchased. The monthly payment options include 365-day, 730-day and 1095-day plans.

    Full Answer >
    Filed Under:
  • Q:

    How long does it take for bad credit to go away?

    A:

    Negative accounts on a credit report are usually removed after 7 years; however, negative accounts pertaining to bankruptcies generally remain on the credit report for 10 years. The time starts when the account is first listed as past due, according to Equifax.

    Full Answer >
    Filed Under:

Explore