Bad Credit Loan
Bad credit can be a major hindrance, especially when you’re already struggling financially.
At Cash Loans Alberta, we know the pressures you’re dealing with; that’s why we provide you with a bad credit loan in Edmonton, Alberta! A bad credit loan offers temporary financial support for critical money challenges. If you have unexpected expenses such as unplanned bills, medical costs, or a lost income source, we can help. Many lenders will turn you away due to bad credit. Cash Loans Alberta looks at more than just your credit history and can approve you despite your bad credit.
So get a bad credit loan as a temporary solution for your financial difficulties today!
Why Cash Loans Alberta?
At Cash Loans Alberta, we are sympathetic to your circumstances. And this empathy is the reason why we provide the advantages that other lenders dismiss!
- We Say APPROVED! When Other Lenders Say NO!
- Lowest Interest Rates: 9% – 28.5% APR.
- Proud To Offer The Auto Equity Loan!
- We Offer Short And Long Term Loans.
- Flexible Payment Options.
- Low Monthly Payment Rates.
- Loan Repayment terms: 90 Days – 60 Months
- FlexTerm Loans – Pay off your loan at any time without penalty!
Example Loan: $1000 borrowed for 12 months. Interest $158.77. APR 28.5%.
Total Amount Payable: $1158.77
How it Works
You must adhere to our simple loan process to receive your loan.
Follow the steps below to see how the process works.
1. Fill Out the Online Application
To start the process, complete the online application. Then, send it in upon completion and wait for our response. A few preliminary requirements include:
- Verification of Address
- Your name on insurance & registration
- Proof of vehicle ownership and positive vehicle equity
- Collision & comprehensive insurance
2. Receive a Quote
One of our specialists will contact you shortly afterward to discuss your loan and associated rates.
3. Instant Approval
If you’ve met our preliminary requirements (see step one), you will get instant approval for your car title loan.
4. Drive Off With Cash In Hand
Once your application is approved, Cash Loans Alberta provides the cash the same day; generally within a few hours. You take the funds and drive off with your car and cash in your possession.
Frequently Asked Questions
A bad credit loan refers to the sum of money loaned to people with a credit score under 575. When properly managed, bad credit loans can help improve your credit score and even help you reach your monetary goals. You can qualify and apply for this loan if your credit score is under 575. Moreover, you can quickly find online lenders whose specialty is bad credit loans.
There are many ways to rebuild your credit score. Some of these methods include:
- Reduce your credit use
- Use a personal loan to pay your card off
- Try asking for late payment forgiveness
- Dispute incorrect information disclosed in your credit report
- Review (and clearly understand) your credit score
- Consider adding other bills (phone, utilities) to your credit report
Yes, even with bad credit, you can still be approved for a car loan in Alberta. Go to a dealer or retailer for assistance. Some lenders will consider other variables other than your credit score, such as your income.
Bad credit loans are a temporary solution for your money troubles. These loans can buy you time until you get your finances in proper order.
Bad credit loans can fall anywhere between $500 to $50,000. But of course, the loan amount will fluctuate based on a variety of factors such age, financial standing, employment status, and more. However, regardless of the loan amount, it’s important to be responsible with your loan as interest rates do apply. So start with a smaller loan if possible, unless you’re certain you won’t default on the payments of a larger loan.
Failing to repay a bad credit loan can result in incurred fees and penalties. Moreover, you can expect a default to show on your credit report.
No. Certain bad credit loans permit a down-payment, but it’s usually not necessary. Normally, the lending agency will deposit your loan into your bank account. At that point, you’ll need to repay it in installments with interest over time. Something to remember: If you do use a down-payment for your bad credit loan, the odds of approval increase.