Credit based lending

To get a loan in America there is a concept called bad credit. Having bad credit can be a problem for you when applying for a variety of loans because the decision to lend you money is made in many cases based on your credibility. There are, however, a number of lenders that create conditions for people who can get a loan, even with bad credit. The Kachue company is one of Florida’s most trusted lenders who can guide you in this matter.

By having bad credit when you want to get a loan, you will be faced with a lot of interest rates that are unpleasant for many of us. Whatever the interest rate is higher, you must pay more than the amount you received. In this section, you can find the answer to any questions you may have regarding getting bad credit.

What is the range of credit score?

Based on the criteria set by FICO, your credibility is generally in one of the following specific range:

– Between 800 and 850: Excellent

– Responsible Between 740 and 799: Very Good

– Responsible between 670 and 739: okay

– Credit between 580 and 669: Poor

– Credit between 300 and 579: Very poor  

In fact, your credit, which is in one of the numbers that listed above, determines How risky is lending to you! People who are well-trusted can get a loan at a lower interest rate over a longer period of time.

Based on the average statistics available, bad credit people can pay on loan installments between 2 and 5 years, while the interest rate is 25%.

But people who have good credit, are able to pay a loan for a period of 1 to 7 years with an average profit of 4.29%! As you can see, Having bad credit will make you in a hurry.

By giving you an example, we will make clear credit conditions for you.

Suppose you get a $ 10,000 loan with bad credit. If we consider the same 25% profit, you must pay about $ 398 a month for 3 years. Eventually, you paid about $ 4,300 in interest.

But if you have a good credit, you get the same amount of money at a rate of interest of 4.29% over a period of 3 years, you should pay about $ 297 a month. The final amount you pay for your fee loan is approximately $ 3,600.

Types of bad credit loans

Bad credit personal loans:

As you know, the personal loan is a kind of loan that you can get in two secure and unsecure ways. If you have credibility, you can get this kind of loan without a guarantee, but otherwise, it is necessary to present a property or car to ensure that you will pay the mortgage installment to the bank. Of course, if the installments are not paid, your property or car will not be taken over, but by complaining of you, your reputation will be affected!

Bad credit instant loans: 

Another type of loan is that you can get, regardless of your credit card history is a instant loan. In this type of loan, you do not need to submit a document, but instead, you must get a loan at a high-interest rate. The amount of this type of loan is usually very low since it does not receive a document from you. You only need to prove to the financial institution that you have fixed income, therefore be able to pay the installments of the loan. Although it is very easy to get this type of instant loan, it is difficult to repay it. So try to consult economic advisers before making a final decision. However, many financial institutions like Kachue have provided special conditions for you.

Before doing anything, consulting with any of our advisers for choosing a suitable loan. You will be registered to the site and you will send the necessary transcripts. Because the loan application process is done online, then you are not very waiting for the answer and the outcome of your documents examination. We further emphasize that before submitting your credit history, make sure everything is correct, such as the address, name and Kachue Also, make sure there is no undue negative effect on your credit report.

Credit based lending

How can I get a loan with bad credit from the Kachue company?

Before doing anything, consulting with any of our advisers for choosing a suitable loan. You will be registered to the site and you will send the necessary transcripts. Because the loan application process is done online, then you are not very waiting for the answer and the outcome of your documents examination. We further emphasize that before submitting your credit history, make sure everything is correct, such as the address, name and Kachue Also, make sure there is no undue negative effect on your credit report.