What Kind Of $1000 Loans Are Available For People With Bad Credit Score?

Different lenders view bad credit scores differently. Some would not approve applicants for 1000 payday loan for FICO scores of below a certain number. While other providers would not put too much weight on credit score in their lending decision. Nonetheless, there are quite a few different types of consumer financing to suit the various needs.

Most common bad credit loans available online are :

find 1000 loan bad credit

1000 Dollar Payday loan
Loan amount : low ($500 or less)
Loan tenure : short (1 to 2 weeks)
Repayment : full payment on fixed day (next pay day)
Credit check : yes
Collateral requirement : no
Approval success rate : high
Must have : proof of income
Interest rate : high
Ideal for people who need a quick fix to save the day and view the high interest as a small inconvenience to tide over till the next pay day.

1000 Installment Loan
Loan amount : high ($1,000 or more)
Loan tenure : long (1 year or more)
Repayment : by fixed affordable installments
Credit check : yes
Collateral requirement : no
Approval success rate : moderate (depends on lenders)
Must have : proof of income
Interest rate : low
Ideal for people with bad credit score who need a lump sum of money to pay for something, but prefer to budget and make fixed repayment amount over a period of time.

Title Loan
Loan amount : high (based on the value of your collateral/car)
Loan tenure : long (1 year or more)
Repayment : agreed affordable installments
Credit check : yes
Collateral requirement : yes
Approval success rate : high
Must have : the car you used as collateral
Interest rate : low
Ideal for people having no income at the moment and prefer to use a car as collateral for easy loan approval.

Be sure to evaluate all the personal financing options available to you when you are going to borrow legit loans for 1000 dollars. Do further research or clarify doubts with the lenders. You would want to find a reliable U.S. lender with no hidden fees who has been in business for some years. One who would not consider your bad credit score a significant red flag. Keep your expectations realistic and understand that undoubtedly the borrowing fees/rates would be higher when you do not have an ideal credit score.

Leave a Reply

Your email address will not be published. Required fields are marked *