Go Back To Search Results Question do bad credit loans really exist? is there really such a thing as a "bad credit loan"? for instance that sight creditloan.com.... i've tried googling it for scam and nothing.... there isnt even a report on rip off.com about creditloan.com ..... anyway, my question is do "bad credit loans" really exist? or are they ALL just a way to scam people. By Errol N Posted on 07/21/09 Total Answers 5 Answers- i would not say that a "bad credit loan" does not exist. All that it is, is a high interest loan for a short amount of time. Answer by : Sean On Date 2009-07-21 13:20:38 they do exist but they all carry high interest rates and most are predatory, avoid them at all costs. You get stuck in a cycle of never being able to pay it off because the interest multiplies so fast. The worst are the car title loans and payday loans. Answer by : Suba On Date 2009-07-21 13:21:52 There is such thing as bad credit loan - loans for people with credit problem. But this kind of loan entails high interest rate. So before you apply and sign for a loan, you must read the terms and condition carefully so that you know what to expect. Answer by : Jane On Date 2009-07-22 06:00:28 It's not a matter of 'do they exist' because loans for people with credit problems are quite common. I've worked in the finance industry for more than 12 years with both good and bad credit loans. In today's society there are more people who don't qualify for normal interest bank loans than do qualify. This means there is a larger demand for non-prime loans a.k.a. bad credit loans. So protect your credit, pay your bills and don't get in over your head when applying for credit to begin with. Stay well within your means and you should be ok! Good luck! Answer by : v_unit_99 On Date 2009-07-22 17:33:42 There is really no " bad credit loans" exists.. It means that low amount with high interest rate.. That so called as bad credit loans.. This kind of loan will be quite expensive and carry lots of fees. You might be better off tackling your debt rather than taking on new debt. In any event you will have to compare the costs of a new loan against what you are paying now to figure out if it makes any financial sense. Answer by : Shahid Gautam On Date 2009-07-23 04:00:13   Go Back To Search Results