By joycelyncrawford : A how to tutorial about personal loans, bad credit loans, bad credit personal loans, Finance with step by step guide from joycelyncrawford.
The Federal Trade Commission has its hands full these last few years. Many consumers with less than wonderful credit histories are in need of real, no-credit-check-loans and many online line lenders have stepped in to offer the service. Unfortunately, there are a number of less than desirable lenders among them.
Some are outright frauds. They take your financial information, ask you for upfront fees, and then just disappear. So you have been ripped off and have given enough financial information to foment an identity theft. You can best avoid this sort of mistreatment by reviewing the ratings and customer feedback the BBB listings provide. The best way to get a no-credit-check loan is availing yourself the backup of a cosigner. Check out the lenders online and use these three steps to help you land a loan with your cosigner.
ONE: Look for a trustworthy and amenable cosigner
Non-traditional lenders should always be open to approving your loan if you have something, or someone, credible to back up your loan, no ensure the loan is secured. If you do not want to present collateral to secure your loan, you can get a guarantor. This person must be aware that they are liable for the entire loan if you default for any reason.
This person should have a very good credit history and a history of job stability at a decent salary. This person can be a marriage partner, or a trusted friend or family member willing to lend a hand when times get tough. Make this person is a part of the loan application process and make sure you and this person are always comfortable with each other and the loan agreements.
TWO: Do not be afraid to negotiate
Once you have received a good offer from a lender, ask for a better deal. Reputable lenders found under the BBB listings should welcome the opportunity to change the requirements to that they best suit your financial situation and your ability to meet monthly payments.
They want to have a reasonable loan deal as much as you do. Of course, you have to be pliable as well. Look at what other lenders are offering in terms of the annual percentage rate (APR) and repayment terms. If the lender is not willing to negotiate, politely refuse the offer and withdraw from dealing with the lender.
THREE: Shop Diligently for Your No-Credit-Check Loan
Go online and chat with lenders or give them a telephone call. You should consider all the different types of loans offered under the lenders who are BBB-certified or accredited. Obtain as much information as possible so that you can make a fair judgment for yourself and the lender.
If a certain lender will not help you work out an affordable plan without a consultation fee, find another lender. You should never have to pay any upfront fees when negotiating a loan plan, interest rates, or administrative fees. You do need to be candid about how much money you need and how much you can afford to pay each month.
BBB the Best Source for No-Credit-Check Lenders
As noted, many unscrupulous lenders lurk out there. They prey on borrowers who are in trouble and perhaps not considering things as carefully as the should. Sidestep these lenders by consulting the BBB ratings and customer feedbacks to find accredited lenders willing to offer no-credit-check loans.
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