October 8th, 2009, posted by antoinette8
How bad is your credit? Do you have below a 500 FICO score? Is your score even below 450 or worse? This would be defined as really bad credit. It is very difficult to get anything that requires credit if your score is below 500. Even at 500 or 550 it is very difficult to get a good loan and you will typically end up paying a huge interest rate. So how do you get really bad credit personal loans? Here is a strategy that works.
First, you should check with your bank just to be sure they cannot help you. Sometimes if you hold an investment account or have a paid off vehicle for collateral they can help you. Even if they cannot they will be able to give you an accurate look at your credit and what you need to do to fix it. This is helpful for down the road so you do not end up back where you have really bad credit again.
Second, there is an online company called Prosper. They work with any type of credit and they will help to match you up with individuals that are willing to lend you money. There are many different ways to get loans from Prosper and there are a lot of people there that will look at more than just what your credit score is.