Why PlainGreenLoans Bad Credit Unsecured Loan Program Was So Popular PlainGreenloans has been a very popular bad credit personal loan provider for the last few years. Unfortunately about 2 years ago they stopped accepting applications. But was a personal with bad credit to do to find another reputable personal loan company? What made PlainGreenLoans so popular was the fact that they had a very transparent way of dealing with their clients. They were very upfront with pricing and application process. And you found out in moments after applying that you had been approved or not. Personal loans are highly sought after. There are hundreds of companies offering bad credit personal loans to US based consumers. But not all of them are the same. Personal loans come in two kinds: Secured and unsecured personal loans. The most popular kinds are the unsecured because they don’t require any collateral. But they are harder to get approved for because of the same reason! When a lender sees you have bad credit, they become hesitant to extend to you credit because they may not get all their money back. So many companies shy away from issuing bad credit personal loans. But PlainGreenLoans stepped in and helped people that other banks turned away. But now that they are closed the owners of BadCreditResources.com have worked hard on finding other reputable and reliable bad credit loan lenders. What should you look for in a bad credit personal loan?
Have a clear understanding of the requirements for approval. Having a low credit score, there are scam companies ready to prey on you. If your score is below a 600 be wary of any unsecured personal loan with an incredible low rate of interest being charged. If someone with a credit score of 780 can’t get that rate. Why do you think a LEGITIAMATE bad credit personal loan company would extend that rate to someone who is considered a higher risk borrower? Be realistic in the amount of money you will get from a lender. If you have no collateral you are asking for an unsecured loan where unfortunately in the subprime marketplace is extremely risky and has an incredibly high amount of defaults. Realistically expect a lender to be willing to lend you between $500 - $20,000 depending on your credit and finances. Understand rates and fees. Recently I spoke with a client that told me about a loan she was offered but she needed to pay in fees a $200 application AND a $695 processing fee! $895 in fees in order to obtain a $6000 loan. Too much! Lenders like that one is another reason why PlainGreenLoans is so popular! No outrageous fees!
Unfortunately PlainGreenLoans has stopped taking applications. But take heart! BadCreditResources.com has found great alternative financing solutions!