I really want to know if there is such a thing as "Loans for bad credit really? I plan to apply for a loan, but the problem is that my husband and I have really bad credit (bankruptcy, collections). I looked online and found many of them, but I do not know how they are safe?
If you talk about security in your financial health, they are extremely dangerous for that. Interest rates are absurd. You'd be better with a payday lender - and that is saying something, is not it!
Security is not the problem. The interest rate is the problem - it is as high as 100%. You'd be a fool to even consider such a loan.
Posted on March 17, 2010.