Is it realistic to get a loan with a damaged credit history? This question is of interest to many borrowers, because each one may face different situations, as a result of which it will not be possible to pay for a loan on time: illness, delayed wages, dismissal from work, etc. As a result, a damaged credit dossier. Getting your next bank loan will be more difficult.
In this case, the fact that as a result of which the credit history has become damaged is of great importance. If the borrower is late with the loan payment 1 or 2 times, then, having a bad credit history, there is a chance to get a new loan. But if the case is brought to court, since the loan is not paid, then the bank is unlikely to issue a new loan to the client. Information about the damaged credit history of such a borrower becomes available to all banks. As a result, before issuing a loan, the bank is forced to check the credit history of its client.
The bank is interested in each client and does not set itself the task of spoiling his credit history. If it is impossible to make the loan payment on time, it is better to discuss this problem with the bank. But in reality, it happens differently - the client begins to hide from the bank and significantly aggravates his situation. The bank transfers the debt of the borrower to the collectors.
Features of obtaining a loan with a damaged credit history
• If you received a loan from a bank and, subsequently, you worsened your credit history, then the next loan is unlikely to be issued to you, or you will receive it with a higher interest rate.
• It is also unlikely that it will be possible to take out a loan for a larger amount. Although a loan for urgent needs in the amount of up to 100,000 rubles can be obtained relatively easily. The risks of such loans are already included in their cost. They are issued in 30 minutes and the borrower is not particularly checked. If you have payment irregularities, then you may not be given such a loan.
• If you find a bank that will issue a loan, despite a damaged credit history, then you will have to present a full package of documents and they will check you more thoroughly than another client.
• If you were given a loan despite a bad credit history, try to justify your trust and make payments on time. As a result, your credit history will become better and there is a possibility, with further cooperation, to receive a large amount with reduced interest rates.
• Customer credit histories are kept for 15 years. After this period, you can get a loan again.
The following organizations compete with banks: pawnshops, credit cooperatives, microfinance organizations (MFOs) and credit exchanges. These organizations do not check credit histories.
The pawnshop gives out money on the security of valuable things without documents and without guarantors. The amount of the loan is commensurate with the value of the thing or below it. The percentage is approximately 24-36% per annum. MFOs give loans in the amount of up to 100,000 rubles, at 100% per annum.
Credit consumer cooperative is an association of individuals and legal entities. To get a loan from this organization, you must become a member. The interest rate depends on the size and term of the loan and is 12-25% per year.
Credit exchanges issue loans in the amount of up to 100,000 rubles, do not require documents. The interest rate in this case can reach 30% per annum.
To summarize, there are replacements for banks, but the interest rates are much higher. It is best to avoid delinquent loan payments, and then your credit record will be good.
