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  • Writer's pictureGlenda Craddock

Our Bad Credit Loans Beat Banks That Give Personal Loans With Bad Credit | Hilltop Pawn

​Bad credit loans from banks that give personal loans with bad credit might sound especially appealing right now. After all, you might be in a financial situation in which you really need an emergency loan, and you could be wondering if any of the local banks or credit unions will help you out. Luckily, you do have even better options. Instead of looking for the best bad credit loans from banks, why not just work with one of the top lenders here in Virginia Beach? Hilltop Pawn doesn't care about your poor credit history when it comes to our financial products, and we offer a good option for just about anyone who wants to borrow money. There isn't even a loan application process for you to worry about! Visit us or give us a call today for more information about our loans!

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The Downsides of Borrowing from Banks That Give Personal Loans With Bad Credit

Some banks offer excellent services and great customer service. Maybe you have a checking account or savings account with a bank that you really like, for example. Of course, it's generally better to go with a trusted local brick-and-mortar bank when looking for a loan, rather than checking with online lenders that you know little to nothing about. However, there are some downsides to taking out a bad credit loan from a bank, so you'll want to consider them before making a move. After all, it's a good idea to do as much research for educational purposes as possible before taking out a loan. Then, you'll know you're making a good decision, and you'll know what to expect!

Credit History Usually Matters With Bank Loans

The simple truth is that most banks are going to check your credit report before you loaning you money. Now, there are some banks that start programs that don't have overly strict minimum credit score requirements...this allows them to work with potential borrowers who wouldn't normally meet their eligibility requirements for a loan. However, be aware that even though you might not have to have a good credit score to get approved by a bank, those with really bad or thin credit histories might not get approved. Basically, less-than-perfect credit is often okay, but really bad credit can prevent you from getting a loan from a bank.

Additionally, you should know that how you handle short-term loans with banks will impact your credit rating later, too. If you default on your loan agreement with a bank -- such as if you miss or are late with your monthly payments -- they may report to the credit bureaus. This means it might take that much longer before you can raise your FICO credit score.

The Application Process is More Challenging

Maybe you need an emergency loan right now. Maybe you don't want to gather up a family member to cosign, and maybe you don't feel like filling out tons of forms about your overall financial health. The process of the bank going over your personal information and giving you a loan approval can be quite time-consuming. With these loan options, it might be the next business day or multiple business days before you even get an answer, much less before you get your cash. A soft credit check is almost certainly included with these types of loans, but banks will also generally look into things like your debt-to-income ratio, how long you've had your job, and so on.

Lower credit scores don't affect your ability to borrow from us, and neither do things related to your job or bank account. Bring your ID and collateral, and you can get a loan with no application process. It's so much easier than dealing with a bank!

Get Bad Credit Loans Today | Fast & Easy | Hilltop Pawn in Virginia Beach

Unlike with unsecured loans, our loans are secured by collateral. This reduces our risk as a lender, and it makes it possible for us to offer fast and easy loans to pretty much anyone who wants one. If you're looking for bad credit loans today, come and get a fast and easy loan from Hilltop Pawn & Jewelry in Virginia Beach!

Are you ready to take out a loan? Visit the Virginia Beach pawn and jewelry store that you can always count on for pawn loans...Hilltop Pawn. You'll have cash in your hands in no time!

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