So maybe you’ve had a really bad year or two. You pull up some app to check your credit score and, wow, it’s low. You wonder if you can even get a personal loan with 520 credit score.
Yes, You Can Get a Personal Loan with 520 Credit Score.
There are direct lenders who make it there business to service this sector or the loan market. You just have to understand the rules will be a little different.
This isn’t a charity. It’s a business. So the rules have to different to make sure they can make a profit when providing personal loans with 520 credit score.
So the fees will probably be a bit higher. The cost of the loan will a bit more. But, yes, you can still borrow money with a low credit score.
What are my Options for Personal Loans with 520 Credit Score?
In addition to standard payday loans, you may be able to get installment loans for bad credit. The first is typically paid off in one lump sum, so it’s usually for a very small amount.
If you need more than just a few bucks to tide you over, you will usually want one that gets serviced over a period of months. This will make the monthly payments small enough to handle.
The good news is that servicing your loans can help you rebuild your credit score. If you manage it wisely and responsibly, this can be the start of an upward spiral.
How Do I Apply?
Don’t get all intimidated. Although the fees will probably be a bit higher, the application process is pretty much the same as for other signature loans.
You will need to provide a copy of your identification. This helps show you are a legal adult and a resident or citizen of the US. Most likely, you can readily provide one of the following:
- Driver’s license.
- State ID card.
- Tribal ID card.
- Military ID card.
You also will fill out some papers with some of your personal information. This will include your name, address and similar information.
You typically will provide some paperwork showing your income. Often, this is a recent pay stub or recent checking account statement.
Can You Help Me Find a Personal Loan with 520 Credit Score?
Yes, we can. TheGuaranteedLoans is in the business of helping people just like you to find the loan products you need.
We keep a database on various loan products. You fill out a single application and we check it against our information. When we find a match, we let the lender know and they contact you.