IMPROVING CREDIT WITH A PERSONAL LOAN FROM CHOICE
of having bad credit can be devastating.
Every lender or financial institute is going to ask you about your
credit. They need to identify what kind of risk you are. If your
credit report exhibits a positive credit rating, you will be
considered a low risk borrower. Low risk likely means you will get
the loan you are looking for with favorable rates. On the contrary,
a poor credit rating will result in the opposite; no loan or bad
terms. However, we offer a variety of loans
that you can apply for. Our loans are purposely intended for those
borrowers that have low credit ratings and can not qualify for a
traditional mortgage or personal loan. Do you fall into this
One of the most attractive aspects of our loans is that no sort
of collateral is needed. However, you need to
be timely with your payments every month. It is possible that the
initial rates you receive will be higher for the first few months.
However, if you exhibit positive payment activity for the first
4-6 months, your interest rate will likely go down.
Besides applying for one of our personal loans, they are other means outlined below for restoring your credit:
If you do not have a checking or savings account, open one up. Having a one or the other are one of major loan requirements. You will not be able to get approved for any type of loan without a bank account. Also, having a bank account will allow potential lenders witness your money management skills.
Do you have any bills in your name? If you don't, have whoever you are living with transfer the utilities, phone or cable bill to your name.
In addition the information above, you should read
the section devoted to
to re-establishing your credit.
Being a Wise Borrower