By offering personal loans for bad credit, it means you want to find a company that actually releases the loan funds to you directly. A direct lender is what they are called. Lender matching services operate differently, and they tout their ability to scan a network of lenders and find the right one for you. I’ve seen these sites legitimately advertised, even on television, but that doesn’t mean that you won’t get plenty of spam mail from them.
Who do they share your information with? Have you ever looked at the fine print when it comes to one of these sites? You need to know what you’re in for, and you definitely don’t want to use one that you don’t know enough about. You really should probably stay away from them completely and instead only apply with direct lenders that you can trust.
Finding out which ones those are can be the tricky part, unless you are familiar with the process. In that case, you wouldn’t be looking for a company anymore, unless the one you used stop doing business in your state like the last company I used. I was getting personal loans for bad credit from a company that operated out of California and provided loans for people living in Texas. All the sudden, after getting two decent loans with them and paying them back on time, the company stopped providing loans for people where I live.
They severely limited their business to just three states if I remember correctly. That can happen when there are so many loan companies out there in competition with one another. Add to that the laws and regulations that are different for each state regarding these types of loans, and you have companies having to make changes sometimes. However, you’ll find a good direct lender if you keep looking.