Can I get a secured loan with bad or poor credit?
My credit is not good enough to get a loan and I am wanting to use the money to pay off some old debts to clean up my report. Can I get a secured loan with a bad or poor credit rating from my bank or any bank for that manner? And can someone explain to me how a secured loan works and what type of security is required? Thank you very much.
I have 2 late model vehicles that I owe no money on and are in great condition.
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Tags: Bad Credit, credit, debts, Late Model, loan, Loan Works, Model Vehicles, money, Poor, Poor Credit Rating, Report Spam, secured, Secured Loan
5 Comments at "Can I get a secured loan with bad or poor credit?"
Such a loan is secured by a lien on some property – auto, house, etc.
What sort of asset do you have that you would use as collateral? (security) A paid off car? A house?
Depending on what year model vehicles you own, you might qualify. Just go to your bank and ask. That is really the only way to truly find out.
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