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Loans For People With Low Credit Score
Your journey from rejection to approval of loans begins here !
Credit Sudhaar Finance is an NBFC (Non-Banking Financial Company), which offers loans to people, who have low credit scores and are struggling to break a cycle of poor credit.
Whenever you apply for a loan, your credit score and credit history is reviewed by the lender. What they look for is a high score and a financial history that doesn't have any instance of loan default, late payments, or a huge debt. However, young professionals often get worried when they check their CIBIL report and realize that it's blank and there is no credit score either. This usually happens when they haven't taken any loan before or used a credit card.Learn more
Imagine yourself wanting to buy a house, or purchase a car for long. You managed to save and collect the downpayment it would require to get the loan. Now, you are going to the bank and applying for the loan. To the first bank, the loan gets rejected. You are in a shock. But you feel that's okay. It can happen. So with high hopes, you visit another bank. The story remains the same. Now, you are a little disappointed. You got to two other banks, and it is still the same. You feel devastated! Why did that happen? Why are your loan applications are getting rejected from everywhere?Learn more
Credit score seems to rule people's financial life. A bad credit history may seem like a big obstacle in one's life that one would need to cross at many stages. If you find yourself in such a situation you don't need to panic. There are ways in which one can survive bad credit. Let us see how to overcome situations where the credit score is used to evaluate your credit worthiness or win your trust. We have also highlighted some measures that you can take to improve your bad credit score.Learn more
There are many loans which are designed to fulfill your needs. A home loan can help you avail a home; similarly a car loan can help you get a car. Out of all the loans and financial products, personal loan is the one which is almost everyone's favorite. A personal loan can help you in many ways and also does not have a cap on how you use the loan funds. You can use the loan amount to manage medical expenses; use it for marriage expenses, etc. The lender will not be bothered on how you will be using the funds. Unlike other loans which are tailored for a particular purpose.Learn more
Keeping up with the repayment of loan and the timely clearance of the EMI can be a daunting task, especially when one is undergoing a financial stress. It is natural for an individual to pay for the survival expenses first from the limited finances. Such duress situations may lead to non payment of the obligations towards the lender. While this may lead to one getting tagged as a defaulter, but there is no need to panic.Learn more
Yes, getting a loan in individual capacity is definitely possible despite having a bad credit score. Credit Sudhaar Finance has introduced "Plus Loans" product for individuals who have stressed credit history owing to mistakes made in past.
Loan application can get declined for various reasons. The credit score or credit status is one of those. But borrower's credit score also happens to be the most important and dominant reason impacting the outcome of a loan application. The other reasons for decline could be failed verification, incomplete documentation apart from the credit policy of the bank.
The low credit score generally leads to rejection of loan application. Credit Sudhaar Finance has introduced an innovative product that aims to extend loans to those who have low credit score. Irrespective of the reason for low credit score, including delinquent accounts, Credit Sudhaar Finance will evaluate the application and will lend if the borrower meets the laid down criteria.
There are plenty of options on the market for people with limited credit history. Shop around to find the card with the lowest APR and fees you can qualify for. If you are having trouble being approved for cards, consider a secured credit card that requires a security deposit or ask a parent to add you as an authorized user on his or her card.
You can withdraw your credit report from any of the credit bureaus as many times as possible. This will not have any bearing on your credit score. However, the enquiries made by lenders can impact the credit score.
There is no particular loan defaulter list. The underwriting is based on the data available on applicant's current and past accounts available on the credit bureau report.