A bad credit loan is a type of personal loan offered to borrowers with bad, poor, weak or no credit. Poor credit loans are generally expensive than the normal because lenders charge higher interest rates to borrowers with bad credit than they do to borrowers with good credit.
It involves borrowers signing a contract and promising to repay their loan in accordance with the terms & conditions of their no credit check loan. If the borrowers fail during the repayment of the loan, the lender may pursue collection of the amount of money owed through a collections agency or other legal mechanisms.
We at MoneyInMinutes, let your past stay in the past. With MIM's super easy loaning process, you receive your money the same day. As part of our responsible lending obligation, we do a credit history search. However, we assess you based on your present situation to be fair to you. Since we want you to improve your credit score, we only lend you what you can comfortably pay back. MIM's loans for people with bad credit score comes at no extra cost making your life easier. A few clicks and 5 minutes is all we ask and you receive your loan amount straight in your bank account.
We have no hidden charges because transparency is what we believe in! Calculate your loan, upload your details, and let us confirm your details and it's all done.
No queues, no fake promises, as transparent as glass!
What is a bad credit history?
A person gets a bad credit history:
Yes, one can get a loan with bad CIBIL score. There are many lenders who offer no credit check loans to people with poor credit. MoneyinMinutes is one of the top lender providing loans for people with bad credit.
If a person has bad credit then he should follow below-mentioned steps for poor credit loan:
MIM disburses loan online within a few minutes of the application after evaluating the applicant. Apply now!
Yes, you can take a loan if you don't have a job. In this case, lenders have some risk in mind and the borrower has to convince the lender of an immediate loan for bad credit.