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Can I get a secured loan with bad or poor credit? My credit is not good enough to get a loan and I am wanting to use the money to pay off some old debts to clean up my report. Can I get a secured loan with a bad or poor credit rating from my bank or any bank for that manner? And can someone explain to me how a secured loan works and what type of security is required? Thank you very much. I have 2 late model vehicles that I owe no money on and are in great condition. I REPORT SPAM!!!
By 1436 Posted on 06/08/09 Total Answers 4
Answers-
Such a loan is secured by a lien on some property - auto, house, etc.
Answer by : jlf On Date 2009-06-08 15:41:13

What sort of asset do you have that you would use as collateral? (security) A paid off car? A house?
Answer by : Help Is Here! On Date 2009-06-08 15:57:58

Depending on what year model vehicles you own, you might qualify. Just go to your bank and ask. That is really the only way to truly find out.
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Answer by : Micheal On Date 2009-06-09 09:34:54

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