Sometimes bad things happen to good people. Don't make it worse.
If you have less than perfect credit (scratch that. Call it what it is). If you have bad credit, then you may think you have no choices.
You think no one will give you a loan.
You think no one will trust you. You think know one will look past your credit score and lend a hand to help you up. And you'll end up at a strip mall loan store. Or a buy here pay here car lot. And you'll pay through the nose. It's not fair. You need help, and predatory lenders will take advantage of you.
One place you can turn for help is credit unions. Like ours, at the Ashland Community Credit Union. Credit Unions are bound by financial rules and guidelines, but we are member owned. That means, within the rules, we make our own rules. It means that if you're a good person, with a good story, who ran into some bad luck that hurt your credit score...credit unions may be able to help. The Ashland Community Credit Union certainly can. In fact, we want to give you a loan, unless you can talk us out of it.
But I digress. Here are five ways you can tell if you may be being gamed by a predator:
1). High interest rates. Yes, interest rates are on the rise, but no...they aren't that high! Some loan lenders are talking hundreds of percents!!! If you're being charged in the double digits, you may be paying too much. And for someone like you that needs every dime you can get, don't pay higher interest rates than you should. Shop around for a fair rate. At the Ashland Community Credit Union, just tell us your story. That's more important than your credit score.
2). "You earned it" fees. When someone tells you they'll give you a loan but you're going to have to pay extra fees because of your credit score, they are simply making extra money on your tough situation. A loan is a loan is a loan, and they are either going to give it to you or they aren't. Don't let anyone do you any favors by letting you pay extra to play.
3). Rushing you to make a decision. Take your time. Read the fine print. What's the hurry? Read the fine print and you'll find out!
4). No ask no tell. If you have a low credit score, then a reliable lender is going to want to know why. At the Ashland Community Credit Union, we need to hear your story. We know sometimes bad things happen to good people. But if no one wants to hear your story, then they are just getting you to sign in hopes of a high interest payday. Own it...talk about it...and then improve it. But don't pretend it should be ignored.
5). Watch the reviews. You won't be the first they've hurt, and you won't be the last. Read the reviews of the potential lender and make sure they are on the up and up. The information is out there, and all you have to do is a little bit of research.
Sometimes people with low credit scores will do anything for a loan. But that's a big mistake. Especially when all you have to do is call a respected lender, like the Ashland Community Credit Union. Tell us your story. We know sometimes bad things happen to good people. And we want to give you a loan, unless you can talk us out of it.
If you have bad credit and want to talk to someone who will listen, please contact us today. We want to hear your story. At the Ashland Community Credit Union, we are people helping people. Maybe we can help you.