Comment from Sean
Time July 26, 2009 at 10:09 pm

i would not say that a “bad credit loan” does not exist. All that it is, is a high interest loan for a short amount of time.

Comment from v_unit_9
Time July 27, 2009 at 1:30 am

It’s not a matter of ‘do they exist’ because loans for people with credit problems are quite common. I’ve worked in the finance industry for more than 12 years with both good and bad credit loans. In today’s society there are more people who don’t qualify for normal interest bank loans than do qualify. This means there is a larger demand for non-prime loans a.k.a. bad credit loans.
So protect your credit, pay your bills and don’t get in over your head when applying for credit to begin with. Stay well within your means and you should be ok!
Good luck!

Comment from Jane
Time July 27, 2009 at 4:24 am

There is such thing as bad credit loan – loans for people with credit problem. But this kind of loan entails high interest rate. So before you apply and sign for a loan, you must read the terms and condition carefully so that you know what to expect.

Comment from Shahid Gautam
Time July 27, 2009 at 8:37 am

There is really no ” bad credit loans” exists.. It means that low amount with high interest rate.. That so called as bad credit loans.. This kind of loan will be quite expensive and carry lots of fees. You might be better off tackling your debt rather than taking on new debt. In any event you will have to compare the costs of a new loan against what you are paying now to figure out if it makes any financial sense.

Comment from Suba
Time July 27, 2009 at 2:26 pm

they do exist but they all carry high interest rates and most are predatory, avoid them at all costs. You get stuck in a cycle of never being able to pay it off because the interest multiplies so fast.
The worst are the car title loans and payday loans.