Mission is achievable: how to take loans with a bad credit history?

Once compromised, it is difficult to interact with banks in the future. When there is a need to take loans with a bad credit history, efforts will have to be made substantially more than if there is a positive experience of borrowing.

For several years, all transactions with financial institutions have been accounted for in a single national database, the credit history bureau, so if you were a debtor and allowed a loan delinquency in one of the banks in the country, all other organizations can easily find out about it. However, it's still possible to get money with a bad credit history .

There are three main ways to get around the problem situation:

• Find a lender who does not care about your past at all, and he does not request a credit dossier;
• Find a creditor who is ready to turn a blind eye to your sins;
• Convince the potential lender that this time you will not let you down, will not violate the terms of the loan agreement.

The indifferent lender

The easiest way to find an option is when your credit history does not play a role. Loans with a bad credit history are issued by numerous microfinance institutions, because they are not interested in your previous experience of borrowing in other institutions. To such creditors can be attributed the company "Home money" or "MigCredit", "Nano-Finance" or "Monet."

Of course, the cost of borrowed funds from such financiers indifferent to your past will be significantly higher than when you contact the bank, but at their own risk they quite justifiably request an additional fee. The rate for such accessible microloans can reach 1-2% per day.

Understanding creditor

There are also loyal banking structures that provide loans with a bad credit history, which includes banks Tinkoff, OTP, Otkrytie, Home Credit, Renaissance Credit , Russian Standard. All of them admit the existence of past delays and minor problems with the repayment of obligations. However, if you committed a serious crime in the field of finance, then their doors will close in front of you. Interest rates on loans from these banks may exceed 30-50% per annum, but this is still more acceptable.

Prudent creditor

A loan with a bad credit history can be taken when the bank provides additional guarantees of a refund. Applying for a loan to any bank, you attach to it a large package of documents
And certificates confirming your current solvency, and also offer collateral - bail, surety, insurance or other ways to protect the bank from losing money.

It is more preferable to calm the bank with the registration of real estate as collateral, then it will be possible to borrow a large amount for a long period and at a minimum interest of 15-20% per year, and overpay for such a loan will be minimal. Less favorable loans with bail, but attracting a paying relative or acquaintance will allow using borrowed funds at 20-25% per annum, even if you yourself do not inspire confidence in the bank. The main thing is the infallibility of the guarantor.

Thus, the ability to take loans with a bad credit history exists, and it is up to you how much it will be profitable for you. Choose the most convenient option and borrow the right amount.