Where can you get a no job personal loan with no credit or bad credit?

Answer 1

If you have no credit or bad credit, you can expect to pay really high interest rates. For instance, if you need the money to buy home furnishings, you can buy from a rent-to-own store that leys you apply half of your rent towards the purchase of the item - and so you pay $1000 for an appliance with has a sticker price of $500, which is available at a big-box store for $288. If you need a car, go to J D Byriter, and they'll sell you a car over 3 years at 18-20% interest, but the car that they have at $8000 is one that other dealers would sell for $2000 cash.

If you need the money for something else, such as tuition or medical bills, you can do considerably better with a loan secured by your valuable assets. You can even do this at a bank if the assets are solid enough. There's the joke about the millionaire who asks his banker to loan him $300 for 3 months, with a $300,000 Rolls Royce as security. It turns out he was taking his wife on a cruise,and the interest on that loan is less than he would pay for storage someplace where it won't get stolen or vandalized.

But pawn shops met the borrowing needs of the ordinary man a century ago. What you can borrow against your asset is the wholesale value, used. If you bought that wedding ring last year for $3000 new, the wholesale price was $1000 new, and because it's used, you might be able to borrow $300. If you don't pay the panshop on time, the ring belongs to the pawnshop, and they'll try to get about $1000 for it. (For jewelry, retail is 3 times wholesale price.)

Payday loan businesses will loan you a limited amount of money for a very short term. If you need a &90 battery for your car to go to work, and you'll be able to pay it back on payday, $30 to borrow $90 for a week is a terribly high interest interest rate - but it's probably cheaper tan taking a taxi every day (which you don't have the money for, anyway.) If you need to take out a payday loan to pay off your payday loan, though, you quickly get in over your head.

There are a lot of ads on TV from an outfit offering quick loans. The outfit claims to be a Native American business operating from a reservation. They deposit the money directly into your bank account, which means they an take their payments the same way, and there have been allegations that they do noy operate in an ethical manner - and since they claim not to be subject to federal law or the laws of your state, your options for settling disputes are limited. However, if you have been rolling over payday loans, they are cheaper, and it appears that if customers comply with the terms of the loans, they are OK to deal with.

And then there are loan sharks. If you don't pay the loan back on time, they will not kill you; dead people are unprofitable customers. But you're really using the little finger on your left hand, are you?

Maybe you should just sell your blood - or even a kidney?