Aghora 1
- 1. Certain Requirements You Will Need To Comply For Loans For Bad Credit There was a time when a person with bad credit score cannot get loans from banks or financial institutions. Even if you are desperate, banks and other lending companies did not want to risk their capital lending you money. Because of this the government tried to find ways to help those people with poor credit score. And thus, after the government changed some rules, people with bad credit history are now able to secure personal loans. Bad credit loans and standard loans have different interest rates since the former are more risky than the latter. Standard loans are those loans that are given by banks and financial institutions to people with a credit score above 620. They have very affordable interest rates. Since lending companies are taking a huge risk, bad credit loans have a corresponding higher interest rate. Since a lot of banks are conventional and would not take this risk, they limit themselves to giving out loans only to those with good credit rating. But some lending companies still lend money to people with bad credit history. Aghora is one of those online lending companies that help people with bad credit history. You can get for yourself bad credit personal loans from aghora.org. Since they will be putting their capital at risk, there are certain requirements that you have to comply before you can get a loan. Usually, you will have to pay bad credit loans within a year because they are just short term loans. Also, the borrower needs to provide his birth certificate to ensure that he is at least 21 years old. It is also a requirement that the borrower is a resident of the United States. The borrower must be able to show to the lender that he is currently employed. He must either scan or send a copy of his pay slip or his employment contract. The lender may require the borrower to provide the office number of the employer. This is only needed for verification purposes. Usually, a checking account would be required by the buyer. The borrower would have to issue post dated checks to cover the term of the loan. Example, the borrower took out a loan of $1000 payable in 10 installments. In order to cover the 10 installments, the borrower would need to issue 10 checks. It will only take the lender 24 to 48 hours to decide whether to approve or reject the bad credit loan.