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1,500 Dollar Loans with Bad Credit

Here is an intriguing fact: most Americans don’t have enough savings to cater for a $1000 emergency. If you are in the same boat, you need not worry. You can take out a quick 1500 loan to cover the unexpected expense.

“I have bad credit. No one wants to lend to people with bad credit.”

It is a wrong assumption. Many online loan companies are willing to grant loans to customers who have hit a rough patch in their lives. Shortly, you’ll learn all about borrowing 1500 dollar loans with poor, fair, or bad credit.

Applying does NOT affect

your FICO® credit score!

How to get a 1500 dollars fast

Loans are not the only options you have when you want $1500 quickly. You can explore:

borrowing cash from friends & family;

asking for a salary advance at work;

selling-off your belongings, etc.

When it comes to loans that give you $1500 quickly, there are several options within your reach:

1) Car title loans

You need a car title in your name to qualify for these loans. They are offered in-person at loan stores. You drive up to the store, present all the relevant documents, have your car inspected, and get approved. You’ll walk out with a check to cash.

There are several reasons not to consider car title loans. Car title loans have high rates. Picture APRs above 300% per year. Although you will continue using your car, it may be repossessed if you fail to repay the loan. In addition, some lenders will make identical key copies or install GPS trackers to know your whereabouts.

2) Pawnshop loans

What can you pawn to obtain $1500 instantly? It has to be something really valuable considering that most high-end TVs will only grant you loans of up to $500.

Pawnshop loans are also not ideal because of the high-interest rates. Some operators count on borrowers never having to redeem their items so they can later resell them at higher prices.

3) Payday loans

Have you ever applied for a payday loan? First-time borrowers may find it difficult to obtain more than $1000. Customers who qualify for payday loans of up to $1500 are those that have established lending histories with a particular company. If the lender trusts you, they will have no problem granting you a 1500 cash advance at lower interest rates.

4) 1500 dollar loan with bad credit (personal)

The fourth and best option is taking out a personal loan from an online company. These loans are slightly different from installment loans offered by banks. Here is a quick comparison:

Online Bad credit loans vs. Bank personal loans

Bad credit Traditional personal loans
$500 to $5000
3 to 24 months
200% to 800%*
No collateral
$1500 to $100,000
12 to 60 months
5.99% to 35.99%
No collateral

*Some lenders may offer low APRs. You can find reduced rates by comparing loan offers from different lending companies.

Can I get a 1500 loan with bad credit?

Bad credit does not necessarily imply that you have a low income or that you can’t repay a new loan. It’s just a representation of your past credit history. For instance, if you borrowed a loan and racked up several late payments, they will taint your credit history. When your credit scores are calculated, these negative occurrences will lower it.

Applying does NOT affect

your FICO® credit score!

Many consumers have bad credit, but can still take out loans and pay them off successfully because they are in better financial positions. If you’re certain that you can borrow a 1500 cash advance and repay it without falling behind, you’re free to do so.

Requirements for taking out a 1,500 dollar loan

Bad credit lenders don’t vet borrowers as strictly as banks. The most important consideration to them is the borrower’s capacity to repay the loan. They can tell this by looking at how much money the borrower is earning every month.

Some lenders will also check the customer’s monthly obligations, and how much free cash they have for discretionary spending. Still, there are some basic requirements imposed on borrowers.

The applicant must:

Be at least 18 years old – In Alabama, loan applicants have to be at least 19 years old.

Have a stable source of income – Most lenders prefer customers who receive their income through direct deposits to their checking account. The lender will view your bank account statement looking for at least two to three records of direct deposits. It might be difficult for the lender to verify income received through cash payments or paper checks.

Have a working phone number and email account – After submitting your loan application form, one of the lender’s rep might call or send you an email informing you that you have been pre-approved and the next steps to take.

Provide personal identifying information – Loan companies have to verify that you’re a US Citizen or permanent resident. During the loan verification step, the lender may ask you to upload a copy of your government-issued ID in your customer portal or send it by email.

How can you increase the chances of receiving an online loan?

Some best strategies to increase your approval rate for online loans include:

Provide accurate information. The loan company will verify each detail in your loan form. If your details don’t match up, you’ll receive a notice of adverse action.

Keep your debt level low. Lenders want to know if you have enough cash to repay their loans. Therefore, keep your monthly expenditure low and don’t be debt-ridden.

Honor any request from the lender for additional documents quickly. It will speed up the loan process.

Apply for a 1500 dollar loan

Realistic Loans connects customers to lenders offering 1500 dollar loans instant approval. “Instant approval” just means that you’ll know if you qualify for a loan in under 30 minutes.

Some lenders even pre-approve you in less than five minutes. Get started by selecting “Apply Now” from the main menu or fill out the short form on this page.

Applying does NOT affect

your FICO® credit score!

Do you have any further questions?