After Loans

    People with bad credit usually have their hands tied once it comes to getting money in forms of loans and lines of credit. Because borrowers with negative payment histories pose a high risk to lenders, many banks and lending institutions simply refuse to loan money to people with bad credit. However, there are a growing number of lenders, attracted by higher moneymaking opportunities in bad credit market, that are able to underwrite loans specifically geared towards consumers with derogatory credit record. Higher interest rates and loan fees drive more lenders to consider lower credit scores for successful loan applications, often making good return on investment and getting a loyal customer base. Bad Credit Loan Interest Rates and Charges Borrowing costs, comprising of interest charges and loan fees, are significantly higher for poor credit borrowers when compared to consumers with good or excellent credit. Always being in double digits, interest rates on personal loans for poor c