Can person in debt with bad credit get a loan without owning any assets?
442313
Probably not, unless you get a personal loan from a family member or friend
1165899
Don't know any lender that will not check credit when you are asking for financing. Most hard lenders will not require the typical credit score that a bank or a lender would require. For example, I was able to place a client with a 520 FICO with a hard money lender. The interest rate was not that bad, but it was higher than normal rates. You would have to talk to a mortgage person that has contact with people or groups that privide private financing. Hope this helps, contact me directly if you have any questions.
15471
If you can get a very low limit credit card, and be very responsible with it, that will build your credit.  So will getting  a loan that's somehow secured, either with money in your account or a car or other solid collateral.
1130491
If you are talking about a small business loan from financial institutions, you stand very little chance of getting a loan without any capital and collateral. Collateral can be personal and business assets such as house, receivables, stocks and bonds, furniture and fixtures, among others -- that can be sold to pay back the loan. \n\nCollateral provide banks with the assurance that they can get their money (or at least parts of it) back, even if you cannot pay. Even SBA-guaranteed loans as well as micro loan programs require some form of collateral to secure a loan.\n\nBanks, including the Small Business Administration will not give you 100% of the financing you need. You can read here the requirements of Small Business Administration for the small business loans that they guarantee http://www.sba.gov/financing/preparation...\n\n1. Equity investment\n2. Earnings Requirement\n3. Working Capital\n4. Collateral\n5. Resource Management\n\nThey need to see that you are invested in your business -- which means they need to see you have money before they give you money. Otherwise, it's an extremely tough deal.\n\nIf you do not have collateral or capital, you will need to have a co-signer who has collateral and can pledge to cover your loan in case you default on payment.\n\nOr you can go and pitch your ideas where investors gather. Here are some places where angel investors come and those looking for funding can come and pitch their business plans. Be sure to have a strong business plan and describe what makes your business idea stand apart:\n\nAngel Capital Association http://www.angelcapitalassociation.org\nAngel's Forum http://www.angelsforum.com \nBand of Angels http://www.bandangels.com \nCommon Angels http://www.commonangels.com \nKeiretsu Forum http://www.k4forum.com \nLaunchpad Venture Group http://www.launchpadventuregroup.com\nNew World Angels http://www.newworldangels.com \nNew York Angels http://www.newyorkangels.com \nPrairie Angels http://www.prairieangels.org (charges $125 to submit idea)\nRobin Hood Ventures http://www.robinhoodventures.com (charges $250)
85304
Well, more than 75% of the people throughout the country do carry bad credit and all of them get the loan from somewhere or the other so there is no reason why you can't. I'm a loan officer myself and has helped many.....give me a call if you like and i may be able to help you out.
1121601
Bad Credit usually means you will have difficulty getting financed and when someone does finally loan you money it will be at a very high interest rate. You can probably get a home loan, but it will be 8+% or require a good downpayment.  You can expect upwards of 10% on a car loan, etc.  You are a higher risk, so the bank has to charge you more in case you don't pay them. \n\nBad credit can also prevent you from getting a job.  Many companies now pull credit reports to assess the responsibility of the person.  \n\nAnd don't be late on any more bills. Once you have about 3 years of paying on time, people will start to take a chance on you again. Bad credit stays on your credit report for 7-10 years. \n\nIf you have debts, call the companies and work out payment plans, or call a NOT FOR PROFIT debt counselor, like Consumer Credit Counseling Services
68535
Let's see: You have no demonstrable way to pay back the loan, no financial history with the lender, and you need it right way?\n\nGenerally, that isn't the way any reputable lender does business.  If you have collateral like land, cars, etc. you might get some less reputable person to loan you a small percentage of their value to you.  No collateral?  Call a family member or friend.  No family or friends?  Call a loan shark.
1100866
It is possible to get a debt consolidation loan with bad credit, but not all of your debts may be eligible. \n\nHowever, consolidating what you can could be a good start. Combine your credit cards, etc into one manageable debt. There are companies that will provide this, even if you have bad credit. This should free more of your income to tackle your other debts.\n\nAnd you must do this. Don't use debt consolidation simply as an excuse to rack up even more debt: if you do, you'll end up going bankrupt.\n\nForce yourself to budget your expenditure within your income. This must include whatever it takes to repay your other debts. Cut up all but one of your credit cards. Leave the one remaining card at home, to be used only in emergencies. Pay for everything by cash. When you pay cash it forces you to understand the real value of money!\n\nThis is hard, but if you stick to it, you'll not only repay your debts, you'll repair your credit as well. \n\nGood luck.
627916
no credit is sperate based on soc sec #. It will only affect you if you to a loan together.
1113712
sure use the link on my profile\nlet it take you to the website that states this in its text\nWe have over 80 Little-known Banks & Companies that offer Bad Credit Loans, Bad Credit Home Loans, Bad Credit Auto Loans, and Bad Credit Personal loans to people with Bad Credit or even a Bankruptcy. Many require absolutely NO COLLATERAL & NO CO-SIGNERS. Home ownership is not required.
1131709
Yes and it depends on what you want to do or what you have to offer. There are even investing opportunities for people who have no money and no credit.\n\nI suggest you talk to an investor in your area and describe your situation to them and they will outline your options. You could also contact me and with a few questions, I can see what fits in your investing strategy. If you just jump into this, you will be overwhelmed.\n\nGood Luck.\n\nRegards...
213903
Your in luck, we are a direct lender and also broker.  I have done many loans for people that have bad credit.  The normal banks you walk into will turn you down for any reason they want. I have lenders that look at other factors besides your credit.  Contact me at www.xclusivefinancial.com
1080162
You may find a tough time getting a loan from financial institutions with poor credit, even from SBA. SBA requires a number of factors to avail of their loans, and one of them is good credit history (see SBA Basic requirements http://www.sba.gov/financing/preparation... )\n\nIf you cannot get loans, try to get a loan from your parents, family and friends. If they cannot give you any, use your credit card. Credit card requires no collaterals but are an expensive source of funds. \n\nOtherwise, either downscale your plans and amount of capital needed; or wait until your financial situation improves.
62002
You can be sued, in many states your wages taken, in some states the lender can request the court seize and sell your personal assets until the debt is recovered, plus costs, interest and court fees.  Most states grant an unsecured lender seven to ten years to come after you.  You are better off to negotiate with the lender or go to a community credit help program for their help in negotiating changes.
775982
There are very few kinds of loans that will allow you to proceed without a signature. At the most minimal interaction level, you may be able to do it by mail. A signature is required though to get your promise to pay back any monies owed.\n\nFor a major loan like a home equity loan, you will most likely be required to sign a promissory note in front of a notary public. The only exception may be if you have incredible credit, you know the banker, or the loan amount is for an exceptionally low amount.
26741
If you don't have much of a credit background (I mean no credit as opposed to "bad" credit), a lender will look mostly at your earning power.  That is to say your current income, how long you have had your current job (at least 1 year), and how much of your current income is disposable (how much extra you have after your current bills).  Whatever you have left over is what you can afford for a house.  \n\nI have to say though, that without any real credit history, your chances of getting a loan are low.  Also, be very careful of those who are willing to lend you money, because it will probably be at much higher interest rates, making it all the more likely you won't be able to afford the payments.\n\nFocus on building good credit.  Once that is done, then you can start thinking about buying a home.
1089932
Of course, this is exactly WHY you shouldn't allow yourself to GET bad credit.  It is extremely costly, because it forces you to lose out on good opportunities like this.  There's a very high likelihood that you WON'T be able to get credit anywhere.  \n\nHere's what I would consider.  Try some of the high risk credit card lenders.  See if you can get a home-equity line for your home.  You might also be able to depend on 'trade credit' for part of it (foods, etc.), but you'll still need enough to equip the place, and frankly, your choices are very limited due to your past record.  I hope you can find something.  Otherwise, you'll just have to wait 7 years until your credit clears up.\n\nBest of luck to you.