People with bad credit often worry that they will never be able to take out a loan. Loans can be extremely helpful at certain times in life. Whether you are trying to send your kid through college or just want some extra money right now to go on a trip or buy some new furniture, the options for what you could do with the money are endless.
Even if you have bad credit you can get $3000 loans but you just need to make sure you go about things the right way.
The first step to getting a $3000 loan with bad credit is taking the time to look over your credit report. Make sure there are no inaccuracies and if there are, deal with them right away. These will have a negative impact on your credit report and if you are not responsible for them you can get them taken off your credit.
It is also important to look thoroughly at your report and see who you owe money to. Credit cards will have the most negative impact so get these paid off first. Obviously you do not have the money to pay off everything or you would not need to apply for a loan in the first place but you can make as much of a contribution to paying off your debts as you can.
Try to do this at least a few weeks before actually going to apply for the loan. This will give some time for the effect to take place and show on your rating.
Consider using a co-signer. This is someone with better credit than you whom you could use to help you get approved for the loan. If you have poor credit, lenders are going to look at you as a liability. They assume, and for good reason, that you will not pay the loan back because you have not paid off your other debts. A co-signer will greatly improve your chances of being approved.