Jefanie Genilla
It is common for Filipinos to have a bad credit. This is due to the poor financing system in the country. This poses a huge problem since those who have been involved in such a financial mess before has little no chance of getting cash loans again. Find out how you can get cash loans immediately without going through a credit check.
Banks usually stay away from people who have bad credits. This includes those who have canceled credit cards due to the failure to repay, closed accounts due to bounced checks, unpaid debts and many others. Even if this information is not immediately divulged during loan application, banks and lending firms still have a way to determine the credit background of the applicant. This is through a process called credit check or background investigation. This is where most applicants fail. As soon as they know about the credit history of the applicant, it ends up in rejection.
If you face this problem, how can you get fast loan approval with no credit check in the Philippines?
Get collateral loans
This is the easiest way out. You just have to present documents showing that you possess certain properties. It could be real estate or a car. This is called collateral because as soon as you agree with it, you will be given the cash loans. However, failure to repay after several warnings would give the banks the legal authority to take the property away from you. This is an easy way to avoid credit check, but this could also pose a huge risk. You should only get collateral loans if you are certain that you have a financial source to repay the amount you have borrowed.
Find someone to act as a guarantor
This is a trick that would require you to talk to people who are closest to you. Guarantor means that they will co-sign the loan with you. If you are not able to repay the loans, then the bank can run after the guarantor. Of course, you can’t find someone to do this unless you are very close with that person. It can also wreck your relationship if you are unable to fulfill your obligations. If your guarantor has a good credit score, then you will most likely avoid credit check, but the challenge is on finding someone to agree to be one.
Settle your previous credit problems
This is the only way for you to have a greater chance of cash loan approval the next time around. Unless you have settled your previous problem, you will never escape from it. You can apply for debt restructuring just to buy time to repay your debts. You can also negotiate with your creditor to give you a better repayment condition. If you are able to solve this, then getting cash loans next time would be easier.
Seek help from LoanSolutions
If you really can’t find the right bank or firm to give you the cash loans without undergoing credit check, then ask for help from LoanSolutions. The company has hundreds of partners from around the world. You might be surprised that there are banks that are willing to help you out despite your credit scores. Once you partner with them, you are guaranteed great results.
