When you need money in the form of a loan, you can find yourself scrambling to find a lender. With all of the personal loan lenders available today, one might think that it is easy to find a lender who will lend you $1,000, $5,000 or more. And, it is: if you have a good credit score.
But for people with mediocre or poor credit scores, on the other hand, it is a very different story. You can find yourself applying to one personal loan lender after another but never seem to catch a break: you either get denied a loan or you get offered personal loans at ridiculously high interest rates.
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The other problem with a lot of lenders is that they require you to fax them a lot of documentation, such as tax forms, pay stubs, and bank account statements. This presents a challenge if either you do not own a fax machine or you just do not have the documentation available to fax them.
Looking for no faxing instant approval bad credit loans? Check out these 7 steps to getting your cash faster:
1. Consider a secured loan provider:
To get a loan that requires no faxing of documents, you will likely want to consider finding a secured loan provider. This is someone who does not require you to show your income history because you have something of value to put up as collateral for the loan. This may eliminate the need for you to show proof of income.
2. Build a list of at least 5 lenders:
Make sure that you research online and find at least 5 lenders. Look for "personal loan lenders" - and in particular "bad credit personal lenders."
3. Check their website for their "required documents":
Review the website of each of the candidate lenders on your list. Scan the "loan requirements" section and see if they require you to fax any documents to them in order to qualify for the loan.
4. Have a look at your credit score:
Even though you already know you have a poor credit score, it never hurts to pull your report. This is a good idea because if you do so, you may be able to find some misreported items or other errors on your report. Get anything that you find corrected right away.
5. Apply online:
Next, start applying for your personal loan online. Whether you are going for a secured or an unsecured personal loan, by working exclusively with online lenders means they are geared toward working fast - including sending you an instant approval notification.
6. Keep applying until you have applied to 3 or more lenders:
Make sure to keep it up until you have applied at least 3 of the lenders on your list. After applying to 3 lenders, you should have at least one or two offers in your hand. But, feel free to apply to all of the lenders. Following through in this way will improve your chances of getting the best interest rate on your loan.
7. Have your bank account number ready so you can receive the funds:
You will need to have your checking or savings account number handy. Doing so will allow you the opportunity to receive the funds that are coming your way as quickly as possible.
Follow these 7 steps to getting your no faxing, instant approval bad credit loan.
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