Frequently Asked Questions

What is Bad Credit Loans Direct?

Bad Credit Loans Direct is a loan matching service that helps borrowers find the most suitable lenders for their specific credit needs. Bad Credit Loans Direct is not a lender and does not make any credit decisions. We offer a platform through our online application which you can use to obtain a loan through our network of lenders.

What is a bad credit loan?

A bad credit loan is a type of loan aimed to assist people with a bad credit history. The lender usually does not run a credit check for such a loan, and approval depends more on having a steady source of income. Bad credit loans can be secured or unsecured, depending on whether you choose to provide a collateral guarantee or not.

How can I qualify for a bad credit loan?

The basic requirement is to have a monthly source of income of at least $1000. The borrower must also be over 18 years old, be a citizen or permanent resident of the United States, and have a savings or checking bank account that allows for direct deposits. Federal Law does not allow for the borrower to be actively serving in the military at the present time.

How long does it take to get approval?

Right after you submit your online application, our database will seek the right match for your loan from our network of lenders. This process usually takes only a few minutes. When a match is found, you will be redirected to the lender’s website, where you will have the opportunity to review the loan’s amount, rate, and other specific conditions. If you decide to accept the terms, the money will be deposited into your savings or checking account as early as the next banking day.

Is there a fee for filling out the application form?

No. Bad Credit Loans Direct will not charge you for applying through our online form.

How much are the loan’s fees?

Your loan’s fees will depend on the specific terms provided by the lender, the repayment plan associated to your loan, and the prevailing usury limits for your area. Fees for a bad credit loan are somewhat higher than regular loans since they represent a higher risk for the lender.

What if I’m late with payment or can’t repay my loan?

Bad Credit Loans Direct is not a lender. The lenders we work with have their own policies regarding late payment or non-payment of loans; make sure you review these policies before accepting the loan. If for any reason you have difficulty in honoring your payments, contact the lender immediately to discuss further actions and alternatives.

How do you protect my personal information?

We have implemented the latest SSL (Secured Socket Layer) encryption technology so that your private information is protected at all times. Your online application will only be sent to potential lenders and remain unavailable to any other third parties.

Does Bad Credit Loans Direct comply with state and local regulations?

Bad Credit Loans Direct complies with federal, state, and local regulations according to marketing and advertising standards. Regulations that apply to lenders will vary from state to state. Make sure that your local government regulations make you eligible to receive your loan before accepting it.