Bad Credit Repair Loans for People Who Don't Have Any Credit

When a refrigerator breaks and needs replacement, how is someone going to come up with the money for it? Many people would take out a small personal loan, but if the person has bad credit, what’s he supposed to do?


Phoenix, AZ -- (SBWIRE) -- 03/04/2013 -- When on the hunt for credit rebuild(ing) loans, be sure to have the information for such an endeavor. Know what one’s credit scores are and how much debt one has. Get copies of the credit reports, too, as some lenders will use them as bargaining chips. Also, to guarantee that one doesn’t get stuck with a high interest rate, shop around to several lenders. It won’t harm one’s credit score (which is already damaged) to do so, and it lets lenders know that there is competition for the loan. has some answers for this individual, in the form of bad credit repair loans, and will share them with everyone, including:

- Where to Start
- Know How to Look for Loans
- Payday Loans
- Short-term Loans

Starting Point

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Check with Many Financers

Because a person has bad credit does not mean he shouldn’t be able to get bad credit repair loans. He’ll do some research and scrutinize the interest rates of many different lenders so he can get the best one for his credit repair loan. Some inscrutable financers will “punish” a borrower if his credit is poor by charging a higher rate. The lender down the street may be a sub-prime lender, and he’ll give the individual a better rate. Sub-prime lenders specialize in bad credit loans, so check out some of them.

Payday or Cash Advance Loans

Cash advance or payday loans are very short-term credit rebuild(ing) loans. Usually, they’re done through an online lender. The lender agrees to loan someone a specific amount, plus a financing fee. The financer expects the borrower to repay the money, including the lending fee, within a week or two, or until the person’s next paycheck. These loans are helpful in the short term, but do not let them roll over, as the lender will repeatedly charge the financing fees.

Limited-Time Loans

Limited-time loans are similar to payday loans in that they’re effective bad credit repair loans. They are also offered online, but the interest rates on them are not quite as high as those attached to payday loans, and the repayment period is up to 3 months, rather than until the next pay period. There is also a fee for taking this type of loan; however, it is not generally as high as a payday loan’s is.

About Credit-yogi is a friendly, reputable no-charge website located in Pitts field, Massachusetts designed to link consumers who have inquiries about finances or law with the experts on hand who can respond to them. For a free initial consultation, call 866-964-9644.