How to Find a $30000 Personal Loan With a Poor Credit Score


$30,000 isn't a small amount. For people who have steady employment and good credit score, obtaining a loan with this amount may not be difficult. However, when a person's credit rating is low, most of the traditional financial institutions are not willing to lend a hand as they are worried that the borrower is unable to pay back the loan. If you have a big sum of medical bills needed to be cleared, what can you do?

Let me share with you some useful ways to obtain the fund you need.

• First of all, you need to understand that $30,000 is considered a big amount. Since your credit is poor, you are advised not to spend your time on submitting your application to the traditional banks. I am quite sure to say that your application will be rejected by the lenders. If you are currently working, you should check with your employer whether company loan is available for employees.

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• If your company doesn't offer financial assistance to staff, in order to look for fund successfully, you are recommended to apply for quick loan from the non bank lenders. In general, there are many loan providers who offer quick loan for people without credit check. However, you need to take note that the interest rate charged is definitely much higher than the regular loan. In order to reduce your financial burden, you should either put up collateral or look for a co-signer with good credit score so that the lenders can reduce the interest rate.

• If there is nobody who is able to be your co-signer and you don't have real property to serve as collateral, do you still stand a chance to obtain loan? The answer is still positive. Look for another loan provider, i.e. the credit union. If you are a member of a credit union, you can call up your credit union to find out the loan application procedure. In US, almost all credit unions provide financial assistance to their members with low interest rates.

• You may not be able to obtain sufficient fund with your current financial situation. If you really need $30,000, you may look for a reliable licensed pawn shop to assist you. Pawn your valuable items temporarily to raise cash. You can get back your items after you have gone through your financial hardship.

Don't feel ashamed with your credit score. No matter how bad your situation is, as long as you have strong determination and strong will, I am sure you can obtain the fund successfully.


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