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Where can I find a lender to give bad credit, high risk personal loans.?

ttmonique2004 - 2006-08-29 11:38:39 - Personal Finance

I live in the state of IL and I need a personal loan for $5,000.

Best Answer:

A friend of mine found help at http://bad-credit.loan-information-center.com when he was in a similar situation.

Answers:

Go to your local newspaper and go to the "Money To Lend" section in the classifieds.

prosper.com

Most lenders would willingly give a loan to someone with bad credit who has a job or collateral because they can charge you a much higher interest rate than someone with good credit and if you did default then they could take any collateral you pledged. My brother in law's ex-girlfriend left her job to be self-employed and had very bad credit (a repossesion in her past) but Ford Motor Credit gave her a no down payment loan on new mustang but at a 20% interest rate while the people with good credit were getting 4-7% interest rates.

only people with great credit get personal loans . Their score has to be above 720 to qualify . You might try some of the predatory and second tier lenders who will really rape you because you have lousy credit and they will punish you with high rates like they should !!!!!!!

A friend of mine found help at http://bad-credit.loan-information-center.com when he was in a similar situation.