Loans for People with Bad Credit
We at Credit Release cater for a wide range of loans including personal loans for people with poor credit histories. Have you been unfairly treated by other lenders? Forget them, we offer loans ranging from as low as $100 all the way to $100,000. Our main purpose and objective is to assist people with bad credit histories obtain some form of financing for their daily needs. The majority of regular lenders can only offer loans to people with prime credit. We are different, we only cater to individuals with sub-prime (650 or below) credit rating.
Our service is nationwide and is open 24 hours 7 days a week. It doesn't matter what financing you're after or how poor your credit score is, we will guarantee that you will at least have access some form of financing. Individuals with high-risk profiles, with poor or no credit are all welcomed. We can offer our services to clients who have previously suffered from Foreclosures, Bankruptcies, Terminations, Defaults and even those with Criminal Records. We understand that life isn't always smooth sailing, let us help you with your financial goals.
We are proud to have successfully served over 75% of all our applications successfully with our numbers continuing to improve daily. Credit Release offers competitive rates and has a solid history as one of the nation's premier online loan providers specializing in bad credit. We are client focused. We will always provide the true interest rate payable (APR), the duration of the loans and are always clear with the terms and conditions attached to each product.
Our service has no upfront fees and applicants are invited to fill in the application form free-of-charge. Each application is treated with total privacy and with full respect to the applicant. We also have a policy of keeping as much information away from the credit agencies, all loan enquiries will not be reported unless regulation requires it. We at Credit Release can offer loans for bad credit with the lowest interest rates and the quickest approval times online. We even have the flexibility to offer individuals with credit scores below 600 loans up to $25,000. When you apply for a loan through us, you will have access to all our associate lenders who can offer the right financing solutions for you.
Educations about Bad Credit Loans
What is Bad Credit?: It is a term used to describe a credit rating that is below average. Credit scores range from 300-850 with 850 being the best. A credit score below 650 is normally regarded as sub-prime while anything below 600 means "bad credit" where loans and other normal financing products will become unavailable. Having poor credit is undesirable as it increases the risk to lenders so many will reject loan applications from individuals with these adverse credit scores.
What is a Bad Credit Loan and Who Offers It?: These are loan products that are specially designed for people with bad credit scores. These loans are designed with high-risk accounts in mind and normally carry a higher interest rate and tighter terms compared to regular loans. They are not available at normal banks but are issued by specialized lenders like us that specialize in clients with adverse credit.
What are the Different Types?: Essentially there are two types, secured loans and unsecured loans. A Secured arrangement means that the applicant can pledge an asset as collateral towards the loan. A secured loan is considered less risky and thus will often be cheaper to service. An unsecured loan is where the applicant cannot pledge anything as collateral which increases the risk to the lender. This means that the loan will be harder to obtain, have a higher interest rate and also have more restrictions.
What are Guaranteed/Instant Approval Bad Credit Loans?: This is a different type of loan product that caters for immediate cash-flow requirements. The difference between this type of loan and regular bad credit loans is that the background checks are reduced substantially but a high level of security is required and the loan amount is often small. These types of loans often requires that the applicant has a steady job and write a check in advance for the loan amount plus interest before the cash is released to the applicant's account. It should be noted that these types of loans have higher interest rates to justify their short durations and small amounts.
Why should I Apply?: It depends entirely on your credit score and your financing need. It is extremely restrictive to have a sub-prime credit score and be unable to purchase essentials like homes or cars. This is where sub-prime loans help. Granted, the interest rates and conditions are tighter but everyone should have access to funding when necessary.
Loans to Improve Credit Score?: Smart people know that bad credit loans can actually help to improve an individual's credit rating. Think of a credit rating as a judge of how likely a person is to settle his/her debt. If an individual does the right thing and services his/her loan with a monthly payment and adheres to the loan's terms it will actually improve their credit rating over time.
How Should I Apply for a Bad Credit Loan?: The application process for a bad credit loan is similar to any other loan. Details that should be provided include personal particulars, tax returns, 1 month of your pay check stub, 3 months bank statements and also lease agreements for real estate owned or leased.