Having a ” bad credit ” history or a low credit score can be a huge hurdle for anyone looking to access personal loans or financing in the banking and financial networks. It is actually a nightmare especially during an emergency or when you need to have an amount of money on time or get an instant credit facility.
Fortunately here in Brazil, there are numerous banks, financial institutions and private money lenders (peer to peer) that can facilitate restricted access or loan access without consulting Serasa and SPC, that is, with a bad rating. Some types of loans do not use their classification as a true reflection of an individual’s financial position.
See our payday loans for people with bad credit
Green Start – online platform which offers payday loans to people with bad credit, believe that if you need to get access to loans is to be able to rebuild your financial life and rating, nothing fairer than offering the necessary money.
Of course, there are some terms and rules for banks and institutions to lend money to those who have bad credit: retired, pensioner, military, civil servant, salaried employee or employee of a private company agreed to the banks and all segments that are allowed to do the payroll loan.
Types of Bad Credit Loan
In addition to the paycheck, you also find available the secured loan with property and vehicle, the loan for negatives of Crefisa and also online loan without consultation offered by banks and loan sites with interest rates above what we may consider feasible. But while interest rates are high, you’ll have the money you need to get what you want, even for more expensive debt.
The websites and lending companies basically offer two types of loans for bad credit:
1 – secured loan
2 – unsecured loan
The first is designed for short-term needs but with loan repayment periods with terms to lose sight of, from 120 to 420 months. The second, on the other hand, is for unsecured loans that can be hired for periods of up to 96 months depending on the modality. Check out here 6 websites that facilitate personal loan online.
The assessment process varies from lender to lender, but overall, after passing the cadastral assessment and verifying the actual possibilities to release the requested amount, you will receive approval for the loan. It is worth mentioning that there are lending policies that are in place serve to protect you and the lender.
How to lend money with a dirty name or restriction?
If you need a loan with a restriction due to having a dirty name, obviously this with a low credit rating, send it so, you should identify which companies that offer this modality that does not perform the consultation to SPC and Serasa. Once you identify a few online lenders, you can visit the websites to find out more about their products and their requirements.
Once you clearly understand what is being offered, then you in some cases can do a loan simulation and you must fill out an application form for the company to compare loan companies for you to choose the one that best suits their conditions.
As mentioned earlier, the lender will then review the details of your registration to fit the loan requested. If you pass the evaluation you will receive the offers by email and a representative of the site or company will contact you to formalize the transaction and decide the payment plan.
So we can understand that it is possible to get a loan with bad credit short term or long term even with low credit rating. So you do not have to worry about money, you just need to know if you can tailor your offerings and avoid dubious deals.