My husband and I want a loan for $50,000 for investing purposes but have bad credit. Is there anybody that ever got a loan with bad credit for a large amount of income. No Scams. Please. Only legit companies.
Thanks for your help.
Thanks for your help.
WHY WOULD YOU BORROW 50,000 DOLLARS, DO YOU BELIEVE THAT IF YOU BORROWED THIS MONEY YOU WILL BE ABLE TO MAKE MORE THAN YOU WILL PAY BACK IN INTEREST?
sorry but as a ex loan officer there is no way other than a second mortgage. the only people who will help you are the scam joints which will just make your credit worse
The most I have known that anyone with negative blemishes on their credit is about $2500. You would have to have some super great collateral that could be considered for that much of a loan. And if you are investing it – loan companies, banks, etc. are surely going to hesitate – depending upon what you are INVESTING in. It’s a huge, huge risk – without them having some guarantee of repayment.
That is the problem with subprime mortgages that is bringing down the stockmarket.
It is never a good idea to borrow for investment purposes. If you have bad credit, you will probably be charged an interest rate of at least 10%. You would have to find an investment with a return of significantly more than 10% to make it worthwhile.
You won’t get that in real estate or stocks right now.
I don’t know about $50,000 – but you can try to re-establish good credit by going thru a credit union. They are usually a little more forgiving. I didn’t have good credit a while back(stupid mistakes), but they gave me a small loan at first and then when I proved I could handle it – they gave me a bigger one. Now my credit is in the 700’s.
Or try the site listed.
People with poor credit feel that it is difficult to get personal loans. However, there are many financial companies and banks that provide loans to bad credit applicants. Bad credit personal loans are generally soughtThe interest rates on secured loans are lower than unsecured loans. However, there is always the risk of losing your house or property if the loan is not repaid.
ha, if u are investing it in a SUV i’ll laugh!
I got one from cash call, and that was biggest mistake of my life.. I just got one more month and I’m done..
ps no one go to them
There are plenty of places that offer loans for people with bad credit with no-hassle applications and easy requirements.
Some of these lenders even offer 1 minute approvals, and have both secured and unsecured loans, depending on your need and situation. Check the page listed below, it has information and bad credit lenders listed off and on.
I dont know exactly the companies. But look at this site. This site contains useful tips for every one who is opting to take loan
If your credit is bad, why on earth would you borrow money (obviously at a high iterest rate) for investment purposes?? If you are able to borrow that much money, do yourself a favor and pay your bills!