Personal Loans for Bad Credit Are Easier To Find Than You Think

Those dreaded two little words: bad credit! Everyone lives in fear of this state these days, since our credit reports are being use to judge us in so many more ways than they used to. A dozen or so years ago, a credit report only came into play if someone applied for a mortgage, a car loan, or a new credit card.

These days they’re being used not only for those things but as a screening tool when we apply to rent an apartment, or even go looking for a job. Imagine, not being able to get a job because of debt – which makes it that much harder to pay off the debt! It’s a vicious circle, and it needs to be broken.

Fortunately, GreenLeaf Loan Group is one source of personal loans for bad credit, basing an applicant’s creditworthiness on their current income rather than circumstances a year or more in the past.

Questions About Personal Loans for Bad Credit

If, like most of us, you’re reasonably responsible with your money, you’ll have a few questions and concerns before taking out any loan – maybe particularly so if it’s specifically a source of personal loans for bad credit. What’s the interest rate? How much information do I have to provide about myself and my expenses? What’s the catch?

It makes sense to wonder, but there isn’t necessarily a catch. Lending money is a business, and someone smart realized that with the increasing number of consumers with negative marks on their credit, due in large part to a change in reporting and economic factors and not an increased level of irresponsible spending, there is a market for loan products targeting those for whom traditional sources of credit may no longer be an option.

The amount of information requested is actually less than with many traditional loan sources – after all it’s a short-term loan, the payments are prescheduled and drafted directly from your bank account, and you’re a responsible adult with a job, just trying to make ends meet or pay an unexpected expense.

Since interest rates are reported as annual amounts, the numbers on any short term loan looks high, because it’s multiplied many times to read that annual amount. However, something important to keep in mind is that it’s far lower than the amount you’d pay your bank for a bounced check, were that reported as an interest rate instead of a flat fee without a percentage attached to it.

Personal Loans For Bad Credit Are Fast and Convenient When You Need Cash Now

Not only is the application located on a website where you can access it 24/7, but lenders are available all day and night as well. As soon as your application is submitted, lenders go into action to approve it within 90 seconds, and you’re presented with the opportunity to sign the agreement right there online – nothing to fax or mail!

You’ll see the interest, payments, conditions, and any optional services; everything is completely upfront. Best of all, the funds will be deposited to your own bank account, ready to spend as soon as the next business day. When you have a financial emergency, there’s no better solution than these personal loans for bad credit apply for a personal loan today.