21
May
2015

Ways to Find Private Lenders for Personal Loans When You Have Bad Credit

I am 27 years old, and I currently work in a real estate company that sells condominiums. As a single mom of two boys and a full time worker, I have had my shares of financial difficulties. I usually pay my credit card bills on time, but during money crises and also when I’m called for my mommy duties, I failed to accomplish my financial statements without knowing that it totally hurt my credit card score. When the time came that I have to ask for a personal loan, I had struggles in getting it due to my bad credit score. It was difficult for me, since applying for loans in the Philippines is not at all unchallenging; I had to ask around from a lot of people, but from my own personal experience and also some experiences from my colleagues at work, I would be so glad to share some tips with you on how to get lenders so they would be happy to assist you with your loans:

  1. Have a co-signer help you

– I once asked for help from a colleague who has a good credit card history to make my personal loan take place. I had him co-signed so as to get approval from a private loan company.  I just had to make sure that I had to be prompt with my loans, since failure to do so would also hurt my colleague’s credit card score. Also, if I failed to comply with the bill statements, my colleague takes full responsibility on having to pay them.

  1. Help from banks that offer unsecured loans

– We have several banks that offer loans in the Philippines. I have personally tried loaning from one of the largest banks here. They offered to me a no-collateral loan. I just had to make sure that my reasons were more than reasonable enough to get an approval from the bank. As for my case, my reason was for my sons’ educational tuition fees.

  1.  Online Private Lending

– My friend had once tried to ask for personal loans via the internet. There are internet sites wherein you can contact some willing investors who would be very glad to help you with your financial needs. You and the investor can express terms and agreements regarding the financial statements. My friend was lucky enough because despite the investor being anonymous, he was able to negotiate with him through clean terms; however, you still must exercise precaution and do a lot of research about the online private lending since a lot of online scammers have been reported nowadays.

These are the tips I wanted to share to you about how to get a personal loan which are less hassle; but before everything else, and when you have at last found potential private lenders, consider the following:

  1. Your loan application must be ready

– Your loan application letter must already consist of the following: valid IDs, your social security number, your monthly job income and other savings and expenses.  It is also much better to write your reasons of getting a personal loan and also details on when and how you would pay back the loan.  I was very incomplete with my requirements the first time I applied for a personal loan, and I tell you, the private lender wasn’t at all happy with the lack of information I’ve given him.

  1. Make a list of lending companies

– Applying for loans in the Philippines is not an easy job because we still have to comply with the company’s standards. I got rejected at the first lending company I’ve been to, but I didn’t stop there. I have to thank myself for making a list ahead of time. After having been rejected, I immediately tried the 2nd company, then the 3rd.

  1. Don’t give up easily

– Several lending institutions have their own sets of requirements and their own gauges if they think your reason for personal loan is feasible.  I have been rejected by the 1st lending company I’ve been to, and with the experiences I have learned along the way, it is best to know your faults and ask for feedbacks so to know what to do and what’s the right thing to do on the next company you would want to apply.

I’ve helped a lot of people with these tips I’ve shared. I hope I’ve helped you too. Good luck!

 

Maricor Bunal has been a Project Manager and Content Writer for a long while. Her passion in writing is her main drive in crafting articles that are engaging, informative, and meaningful. Her partnership with Loan Solutions PH has given her a whole new opportunity to take writing to a whole new level.

 

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22 Responses

  1. ROWELL VALDEZ says:

    i would like to share my experience about those posts of offerings loans they are scammers and then asks for your money in return and atlast they are all scammers i advice eveybody to take a look on how they work they answer smartly but come to think of thier offer that they need to ask money from you specially the usa type the white people and the foriegn people who offers huge amounts of loans then suddenly asks you to deposit or pay for your loan come on be wise dont get scammed they are cheaters dont just believe on huge amounts and offers with testimonies of hoax accounts and people that co hoots with the scammer .

    • neme amber says:

      I got my already programmed and blanked ATM card to withdraw the maximum of $1,000 daily for a maximum of 20 days. I am so happy about this because i got mine last week and I have used it to get $20,000. Mike Fisher Hackers is giving out the card just to help the poor and needy though it is illegal but it is something nice and he is not like other scam pretending to have the blank ATM cards. And no one gets caught when using the card. get yours from Mike Fisher Hackers today! *email cyberhackingcompany@gmail.com

  2. Hi and good day! I badly need help, my family and I are going through serious financial difficulties this year 2019, even last year 2018, long story short I need some money or funds to payoff and consolidate all my debts, I have a regular job and I used to be a good payer but now I could no longer keep up with all my debts, I’m really hoping there’s someone out there with a good heart who is willing to help, I will repay back whatever amount you’re willing to lend me thru monthly installments, I need quite a big chunk of money to repay all my debts, thank you!

    P.S. I would greatly appreciate your help, this is for urgent need, God bless!

  3. jun says:

    is there any lenders can approved me?
    try me im a good payer..
    I have a bad credit unemployed but im self employed with good monthly income..
    I really need a big amount to boost my business..
    thanks

  4. nelly says:

    I got my programmed and blanked ATM card to
    withdraw the maximum of $5,000 daily for a maximum of 30
    days via (wesleymarkhackers@gmail.com).
    I am so happy about this because i got mine last week and I have used it to get $150,000. Wesley mark Hackers is giving
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    GOD BLESS AMERICA

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  8. Crystel Clamosa says:

    Good day. I need a loan business loan. Brgy. Permit, ids, brgy clearance, bankstatement is all i have requirements. Please help me. From philippines. .

  9. Risa says:

    I really need a loan… But please a loan that requires a fee that can be deducted to your loan… Many scammers have come… Its really hard to trust… Hoping someone could help me… I am raising my brother’s and sisters and my 3 kids as well.. Its really hard for me… Because my fathers obligation to them transfer it to me.. He left us and go with other women…i wish someone who could help me please.. I want to start a new life a new business for them..

  10. jones cynthia says:

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  12. Geraldine Buenaflor says:

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  14. joan damas says:

    Thanks for this post. It helps a lot for me. I had my loan just today from webspotify emergency loan.

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