how can you get approved if your credti score is l

It will be difficult to get a loan with bad credit score. But it is not impossible. The below mentioned tips may help you get a loan with bad credit:

1. Making a big down payment on the loan
2. Getting a co-signer for the loan
3. Pledging collateral against the loan

It is not possible for you to get approved with a low credit score. When you apply for an unsecured loan, your lender will check your credit report. If they find your credit score is low, they may not give you the loan. So, it is better to improve your credit score first. But, in some cases lender may give you the loan in spite of your low credit score.

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Loans are not available without collateral. Even with collateral it your credit is low, they probably will not lend. Banks are being very cautious.

FYI...never give money up front for loan. NO reputable lender will ask for a downpayment.

Hi,

Well, yes it's true that with the precarious state of the US economy, lenders rarely lend loans to people with poor credit. If they do, they will charge you outrageously high interest rates that are beyond your affordability.

Therefore it is always a wiser option to go for credit repair first and then apply for an unsecured loan. Pull out your credit report from any of the three credit bureaus and look at it carefully to spot all the erroneous information. Dispute the errors to witness a leap in your score. When you boost your score, get in touch with an unsecured loan lending institution and grab a loan with a reasonable rate.