What's the best way to get a personal loan for someone who has bad credit or Identity Theft?

Kristina Milano
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Jun 25, 2009 by Kristina Milano
Category: Credit Repair

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Mike Newman
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Mike Newman
Jun 26, 2009  
In my experience, qualifying for a personal loan will be more difficult then say a qualifying for a home loan as there is no collateral for the bank to hold. There's no magic pill but to evaluate the persons current profile and determine their weaknesses. This means clearing up past issues and re-establishing some unsecured lines of credit. This will then in time, relfect the persons ability to repay the loan back. Both score and payment history will be the big factors. Of course, we want to identify how the client got into this unfortunate situation first then counsel them on money and credit management. Hope this helps!