Everyone suffers the problem of having bad credit at some point in life. Maybe you have suffered from an accident, or maybe you have lost your job. Maybe you need to make a large payment on a new car, your tuition fees, etc. The bills start to pile up faster than you can repay them. The bank takes note of this fact, and the next thing you know, you’re stuck with a bad credit history that prevents you from borrowing any more money from banks.
Even though going through such type of a financial dilemma can be depressing, such a situation is not uncommon. A recent study showed that more than 44 million students are stuck with tuition loans that they cannot repay in America alone!
Naturally, students who are just starting out in life after college have little in terms of personal property that they can put up as equity for getting a loan from a bank. The same can also happen to older individuals who are going through a particularly rough financial patch. But just because you can’t take out a loan with a bank doesn’t mean the bills stop coming.
That’s where personal loans come into the picture. Today, digital technology can be harnessed by you to receive rapid credit without getting caught up in the bureaucracy of big banks. Bonsai Finance provides guidance to borrowers on cheap and easy credit that can be availed online without even needing to step out of your house!
Types of Personal Loans
Remember that what we’re talking about here is not peer-to-peer lending where private investors give you a loan to get that new car, pay a debt or go on a holiday. We can help you find two main types of personal loans with no credit check:
Secured personal Loans
- Can be used to buy a vehicle or refinance existing loans.
- Offered at very competitive fixed interest rates.
- Terms of the loan can go up to 18 months.
Unsecured Personal Loans
- You can use it to get a loan without having to offer security.
- Also offered at very competitive fixed rates.
- Can be paid monthly up to 18 months.
Personal Loans with No Credit Check
It is the insistence of banks to check the borrower’s credit history that renders so many people ineligible to receive a loan. Fortunately, Bonsaifinance understands that a person’s financial situation can not always remain ideal, and that just because a person has a bad credit history does not mean he or she is incapable of every repaying a loan.
So think of us next time you’re in a fix and in need of some ready cash. Forget about long lines in the bank and grueling questions about the state of your finances. Just log in, sign up, provide basic details about your finances and the amount of money you need to borrow, and the loan will be delivered to you at your house in the form of personal loans with no credit check!