Finances can sometimes cause people to start thinking about difficulties irrationally, especially when there are no solid solutions in sight to overcome those difficulties. Things are made worse when those facing such difficulties have bad credit histories. They know they need a personal loan with bad credit, but they don’t know how to do it.
People may have questions about how to borrow from a non-traditional lender. They become hesitant to put their blind faith in what might be an unscrupulous lender. They worry about handing over your social security number, your financial and personal information. And what if that lender turns you down for a bad credit personal loan anyway?
Worse yet, what if this so-called provider turns out to be a fraud? That could mean personal data so compromised that it leads to identity theft. This is the point at which the person in difficulty needs to take a deep, meditative breath and strive to be rational and clear-thinking.
Six steps to finding a personal loan with bad credit through the BBB
A reliable loan provider for a bad credit personal loan can be found by taking a look at the Better Business Bureau (BBB) directories.
One: Visit the BBB directories
The Better Business Bureau has two sites available for verifying businesses in the Northern Hemisphere of America: one for Canada and one for the US. To ensure the site is a trusted source for the BBB, make sure the website address (URL) contains Better Business Bureau, BBB.org/us.
Two: Opt for the BBB Accredited Lender
To speed up your application process, instead of reviewing every lender you can find online, limit your research to BBB recommendations. When doing a lender search, press the Search for a BBB Accredited Business button that can be seen on the listings home page.
Three: Use Key Phrases
When you do your search, check the related keywords that best represent the type of lender you’re looking for. Although it may hurt your pride a bit, go ahead and get to work by entering: Bad credit loans in the search bar. You will probably want to limit your search geographically.
Furnace: Choose the right type of lender
Many types of lenders can be found on the web, and this is good for your shopping convenience. But you will want to reduce the field. For example: Consumer Finance and Loan Company. Loans no credit check. Short term loans with bad credit. Cash advance loans. Payday loans. And there are other options available.
Five: examine reports
The BBB has created business reports and customer feedback forums for good reason – use them to further narrow your search. Aim for lenders that have high BBB ratings.
Six: Make Consultations
Once you’ve decided on five or six potential lenders, give them a call. Despite what the BBB listings may report, you can get a better idea of the company and their ability to help you by contacting them by phone. At that point, ask about their ability to help you without revealing too much personal or financial information.
Keep your wits about you
Take a look at your financial situation and calm down. Help is available. Figure out how much you need and what type of monthly payment you can afford. Keep your wits about you while you search for a suitable lender. Hasty acts under financial pressure are not always the best actions. Don’t be too desperate to get a bad credit personal loan.