Jefanie Genilla
In as much as you want to get personal loans from banks or lending firms, you are immediately turned down when they see your credit scores. You might have had closed credit card due to failure to repay. You might have also tried paying a check that bounced. It could also be because of your debt issues with so many financial institutions.
There are applications that get rejected because it is more or less a trust issue. The reason why banks or lending firms don’t immediately give a yes is because they want to get assurance that the borrower would be able to repay the amount. A bad credit score is a proof that the borrower is incapable of paying the amount borrowed. Even if you hop from one bank to another, you will still end up with the same answer. You might try to find banks that offer personal loans without credit check in the Philippines, but it could be difficult.
They will only avoid credit checks if you can give collateral or find a guarantor. Either way, you are taking a great risk. When you give collateral, it means that the banks have the authority to take your property listed once you are unable to repay the loans. When your property is of higher value than the amount that you have borrowed, then it becomes a huge problem. On the other hand, if you find a guarantor, then you need to first make sure that the guarantor has a good credit score. If you find one, then the guarantor must agree to sign your documents. Unless you are extremely close with this person, you will most likely get a no.
At some point, you might just want to give it up. However, since you really need the loans, you have to look for other options.
Turn to LoanSolutions for help
If you have tried looking for all possible options without luck, then you might have to go for LoanSolutions. This is an online company that matches you with the right lenders. It can be a bank or a lending firm. They have partners all around the world. You just need to sign up using an application form. There are only a few items that you have to fill out and you are good to go. If you can’t find local options, then you might be lucky with their international partners. They even have partners accepting those who have a very bad credit score.
Patience is a virtue
It could take time for you to find the right match. You just need to be patient up until you land with a choice that matches your personal criteria and will eventually approve your application. With LoanSolutions though, it is not a problem. In just a day or so, you will be matched with a bank and you can immediately proceed with the next steps. With their help, your financial problems will immediately be solved.
