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How to deal with money problem if you have a bad credit.
We all know that bad credit can block your dream of taking a Personal Loan. In today’s world we have number of banks and financial institutions that are ready to offer loans to bad credit holders.
We do understand that sometimes it is very difficult to maintain a uniform and a steady credit history. Sometimes we do suffer from major financial setbacks. In such cases we do not want it to affect our ability to apply for a loan.
Now we do know that every bank has a credit score depending on which they decide your ability to pay back the loan.
Generally banks consider the following factors before giving a loan.
Payment history (35%):
Banks will check if you hold any another loans and if you are paying them on time or not.
Debts you have (30%):
Banks will see the total amount of debts that you have. Banks will consider you as a risky customer if you carry more debts.
Debt management ( 15%) :
Banks will see whether you have a good long debt management skill or not. Banks will score on the duration for which you have bought the loan and if you are paying it responsibly.
Types of credits you owe (10%):
Banks will see total number of credits and loans you owe like vehicle loan, home loan etc.
New debt (10%):
Banks will score you based on whether you have applied for a lot of loans in a short period of time.
It`s true that bad credit complicates the matter of taking a loan but as you can see that banks have various other factors on which they decide your eligibility.
Where can you get a loan with bad credit?
That’s one question that arises in bad credit holder’s mind. We at http://octopusloan.com/ have tie-up with 26+ banks. So we make getting loan with bad credit an easier process.
Why take a Personal Loan for bad credit?
Easy to manage.
Has less rate of interest compared to credit card loan.
Equal monthly instalment.
Definite end date.
How can I get a personal loan with bad credit?
Process of getting personal loan with bad credit history is very simple.
Log into http://octopusloan.com/
Go to “Loans” section and from dropdown choose “Personal Loan”
Fill up a simple application form.
You are done with the process of applying for Personal Loan. Wait till one of our representative calls you up and assists you with further process of getting loan with bad credit. We care for customer’s valuable time and hence our loan disbursement process is very simple, fast and completely online. You can even check the interest rates of Personal Loan on our website and choose the best option available to you.
Log into http://octopusloan.com/
Go to tools and from drop down select “Comparator”.
You will see a row mentioned as “Company Name”. Enter your current company name and compare the interest rates of various banks before applying Loan.
Conclusion:
Personal Loan can prove to be a blessing for the people with bad credit history. Hence our constant effort is to make process of getting a loan with bad credit as easy as a pie and is just a click away from you.
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