If so, Loans.net has a wide selection of bad credit personal loans. Our pre-screened, professionally-selected lenders specialize in offering low interest rate loans to individuals with bad credit.
Until now, it was widely believed that bad credit personal loans were either unavailable or came at an exorbitantly high interest rate. Loans.net is here to change that perception. Our philosophy is based on the premise that if numerous lenders are made to compete to offer you a loan, you, the borrower, will ultimately benefit.
Designed specially for individuals with "not-so-perfect" credit, a bad credit personal loan offers distinct advantages. Most importantly, they can be used for any purpose, including consolidation of debts. There are various classes of bad credit personal loans, but broadly speaking they could be categorized as unsecured or secured loans.
At Loans.net, the application and approval process are very easy. Complete a short application form, have multiple lenders compete to offer you a loan, and select the one that best fits your needs. Easy! Within as little as one business day, the loan amount will be electronically deposited into your checking or savings account.
You can even get an instant decision online. There is minimal paperwork involved and an easy online application offered by Loans.net is all it takes to apply for a loan.
Generally, an unsecured personal loan is offered without the need for any formal collateral against the loan and the loan amount can be used for any purpose deemed appropriate by the borrower, including recreational or medical purposes -- or even debt consolidation. The major benefit of applying for an unsecured bad credit personal loan is the ease of the application process and the lack of collateral requirements; disadvantages include higher interest rates and tighter repayment terms.
A secured personal loan will need a guarantee for the protection. It will take more time paying back but with reduced monthly payments and a lower interest rate. These types of loans may require to provide a guarantee which includes property or any type of asset acceptable to the lender.Click here to compare bad credit personal loan offers