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Are there any legitimate loan companies that will loan with bad credit?

Knoxville, TN |
Filed under: Credit score

I had a bankruptcy discharged in 2010. About a year ago I needed to help my family because of illness. I couldn't find a bank or CU who would loan with my bad credit so I turned to a payday loan company. Next thing I knew i had four. It is just a cycle that can't be broken. They take so much out of your checking accout that you can't pay your bills so you take out another loan and the cycle begins. I finally closed my checking account and am trying to work with them on paying them off. I am trying to get an installment loan to pay these off. Are there any legitimate loan companies who will loan to people with bad credit. I know the interest rates will be higher but not as high as a pd loan co. Help!

Attorney Answers 1

Posted

I'm afraid you're out-of-luck. Your credit is still horrible from the bankruptcy, and your experience with the payday loan company only made it worse. You probably won't find any "legitimate" lender willing to lend you money, and certainly not at an interest rate less than a payday lender.

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