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Most of the people are looking for private lenders who offer lowest possible annual percentage rate (APR) bad unsecured personal loans as well as affordable monthly repayments when they do not put up collateral for their loan application. As you know that getting such loans is risky as you have to face the consequences when you are unable to repay your loan.
Generally, many people are complaining that it is difficult to find private lenders that provide affordable financial solutions to people with bad credit. So, here is an easy way that you can try to find reputed private lenders using this Find, Call, Get Quote and Compare method (or also known as FCGC method).
How to get started with Search, Call, Get Quote and Compare method?
let’s start with “Get” Which literally means looking for both Better Business Bureau (BBB) and non-BBB accredited non-bank lenders. Here are some steps to follow:
First, locate the nearest loan companies or non-bank lenders using the search tool from the BBB directory.
From the BBB directory, use the search tool to perform a keyword search for “loans” or “personal loans” and make sure you uncheck the “BBB Accredited” box.
Then, on the search results page, look for the BBB business review pages for loan companies or non-bank lenders. Consider those companies or lenders with high BBB ratings.
Write down the contact details of those companies and lenders.
· Check out the “Directions” tab to get directions to your home or office by typing your address in the provided search form.
so let’s move on “call” Which means calling loan companies or lenders to inquire about their bad credit unsecured loan products. During the inquiry process you need to ask the following questions:
· Do you offer unsecured personal loans for people with bad credit? (State your actual FICO credit score, if possible)
· What is the exact APR of bad credit loan? Is it fixed or non-fixed?
· Is it possible to have an affordable monthly repayment plan?
What is the total loan cost of unsecured personal loan?
What is the actual loan cost if I sign up for a co-signer unsecured loan?
Note that you need to consider lenders who are able to answer these above mentioned questions. Remember to ask as many questions as you have a right to do as a smart consumer.
next, “Get Quotation” This means that you need to request a quotation so that you can find out the total loan cost from a non-bank lender before you start comparing other loan deals offered by other loan companies. Do not consider lenders who are unwilling to provide quotations to callers. They will send quotations either via email or fax depending on your preferences. You need to get quotations from as many different non-bank lenders as possible.
Ultimately, “compare” – It is basically to compare loan products offered by various non-bank lenders and choose the bad credit unsecured loan with the lowest APR and lowest monthly payments. You need to look at the quotations that you have collected earlier and carefully compare the actual loan cost from different private lenders.
Finally, you can probably find a private lender that offers low APR unsecured loans for people with bad credit based on the FCGC method.
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