General Loan Requirements
Lenders that offer bad credit loan programs will do everything they can to ensure that they will get their money back. For example, most bad credit loan programs will require that you have an active checking account. The lender will use this account to collect your weekly or monthly payments. Their studies have shown that the rate of default is much lower when they're able to collect the payments electronically from the customer’s checking account.
Also most bad credit lenders will require that the client has a stable income. If they are employed they will have to have been with their current employer for at least six months or more. Generally speaking the client would be required to earn at least $1,000 per month. Even though this is a high risk loan, the lender will do everything they can to ensure as much as possible that the loan is repaid back in full.
Types Of Loans
Another name for this type of loan would be the payday loan. This financial product offers no credit checks and no turn downs. You can receive your money in this little as two hours. The lender can deposit your money directly into your bank account in just a few hours. If you're looking for a loan that is more than $1,500, you would have to apply for a unsecured personal loan. These types of loans could go as high as $50,000. And they are also offered as bad credit loans. The lender would check your credit for this type of high loan amount.
Click on the link below to apply for a Guaranteed High Risk Personal Loan