Bad Credit Loans in Scranton, PA
Scranton is a well-known place (thanks to ‘The Office’) that offers a life of ease. It is a peaceful city that brims with a job market and opportunities. However, even with so many options, the citizens sometimes face financial hurdles and they can seriously disrupt the whole financial plan. So, what to do to get through the month? The most common answer is: to get loans from bank or storefront lenders.
It is a viable option but certainly not for those with poor credit history; they will just get rejected for not meeting the strict lender’s credit criteria. But that does not mean there are no other options; the applicants can certainly get bad credit loans in Scranton, PA to either make payments or sail smoothly through the month.
How Can You Tell If Your Credit Score is Low?
A low credit score is an indication of an individual having low creditworthiness. With low creditworthiness, the bank or storefront lender can automatically assume that lending money to the person in question will be a risk. But how do they know about it? The simple answer is through reports from credit bureaus and credit rating agencies.
When these agencies assess an individual’s history, they allot them a credit score. Since most of these agencies use the FICO score range to decide what is the said person’s creditworthiness, the category on the scale in which those scores fall represents your credit history.
The FICO scale ranges from 300 to 850 with the former being the lowest and the latter being the highest. A high credit score implies greater creditworthiness and vice versa. The complete details include:
- Bad (less than 580)
- Fair (580-669)
- Good (670-739)
- Excellent (740-799)
- Exceptional (800-850)
A score between 300 and 580 indicates a low credit score and poor credit history. But in some states, a score anywhere below 620 is considered a low credit score. And in other states, the range can be lower.
Steps to Get Online Bad Credit Loans in Scranton, PA
It is pointless to make applicants go through tedious and extensive loan processes. Therefore, at Capital Bad Credit Loans, we try to provide a seamless experience by reducing the whole timing of online bad credit loans. Here are the steps to apply for a personal loan online:
Online Application Form
To start the bad credit personal loan process online, you need to visit our official website. On the website, fill out an online loan application, and share your information such as name, date of birth, address, and phone number. After filling in all the details, submit the application.
Wait for Lending Decision
All the submitted applications are reviewed. So, we will carefully evaluate the profile to know the eligibility. If you qualify, you will receive a loan document via email. This will mark the approval of your loan application.
Review and Sign the Application
The loan document shared with you will have each and every detail related to the loan, make sure you read those details before signing the agreement. If you are okay with the loan term, interest rates, repayment schedule, et cetera, you can go ahead and sign the agreement and share the signed document with us.
Once your consent has been received, your money will be prepared. It will be shortly transferred to your bank account.
Can I Improve My Credit Scores?
Improving your credit score is very much possible but the whole process will demand dedication, management, and patience. Since your scores cannot improve overnight, you will have to wait for a while and meanwhile practice the following:
- Pay off all your previous loans
- Clear off your credit card debt
- Request an increase on your credit limit
- Dispute credit report errors
- Try to keep your credit utilization rate below 30%
Where Can You Use Your Loan?
While in Scranton, PA, you can either explore Nay Aug Park or you can visit the Steam town National Historic Site. There are so many other places that you can see and you can do that all with money from bad credit loans!
Not just traveling, you can use the money from bad credit loans to do a multitude of other things. The loan amount can be used for:
- Paying medical bills or for doctor’s appointments
- Paying your rent, electricity bills, or other utilities
- Covering the cost of your house repair
- Paying legal expenses
- Paying for vet expenses
- Covering car repair
- Paying tuition fees
Basic Requirements to Get Bad Credit Loans in Scranton, PA
In order to get loan approval, the applicants must comply with the rules of the state. So, if applying from Scranton, you must first know the requirements laid down by the state of Pennsylvania. To get bad credit loans in Scranton, PA, the borrower must:
- Be 18 years old or above
- Have an active checking account
- Have a steady income source
- Have a valid email address
Furthermore, the lenders will also require some personal and professional details from the borrower as these details as integral to the application process. These include:
The lender will request you share your name, address, social security number, and mobile number.
Complete income details such as net and gross income will be required.
Your bank account number, as well as routing numbers, are important as the money will be directly transferred to your account.
Advantages of Bad Credit Loans
Whether it is because of its completely online process or availability to all, bad credit loans are quite advantageous. When compared to traditional loans, they have an upper hand. In the gamut of different benefits, the following are the top ones:
With a streamlined and smooth process, the whole money-borrowing process has been made extremely easy. You can get money fast as there are only three short steps!
Improve Your Credit Score
From the money you will get, you can pay your outstanding bills and you can also pay off your credit card debt. This will improve your score.
If you compare the acceptance rate of bad credit loans with other loan types, you will see that these have a way higher acceptance rate as all credit types are accepted!
What are the Various Types of Bad Credit Loans in Scranton PA?
When it comes to different types of bad credit loans, there is a wide variety. Bad credit loans fall under two categories:
- Unsecured Bad Credit Loans
- Secured Bad Credit Loans
Unsecured personal loans neither require perfect credit scores nor collateral; they are given even if you only have a strong ability to repay. The subcategories include payday loans, and bad credit personal loans (installment loans).
Secured loans, on the other hand, need the borrowers to have collateral as well as a steady income. One example under this category is car title loans where the vehicle’s title is used as collateral.
While both of these categories vary, there is one similarity: a poor credit history is not an obstacle.
Get Bad Credit Loans in Scranton PA Without Hassle!
Whether you need a payday loan or a car title loan, you just need to find the right lender! And with Capital Bad Credit Loans, you can now get in touch with a variety of online lenders and get a bad credit loan in just no time. So, if you are in need of quick cash, visit our website and submit a simple online form right now!