Bad Credit Loans in
Do you face an unexpected expense or an urgent financial situation such as a neglected bill you forgot about? As you probably know, it is difficult to secure the fund you need with a bad credit score… But thanks to Northstar Brokers, you can improve quickly your financial situation with a bad credit loans in Ottawa!
What is a Bad Credit Loan in Ottawa?
If you have a negative credit history, you may have difficulty obtaining a loan. A bad credit loan exists as short-term emergency cash for people who cannot get loans from a bank due to bad credit.
Bad credit loans are helpful for dealing with urgent financial situations and aren’t meant for long-term financial issues. So, if you need an easy loan for unforeseen circumstances in a bad credit situation, like medical bills or emergency home repairs, a bad credit loan is the answer.
They shouldn’t be confused with installment loans or personal loans given by banks. Most banks and lenders avoid such situations and shy away from giving personal loans to borrowers with bad credit
How Can Bad Credit Loans in Ottawa Help You?
Taking out a bad credit loan and paying off the entire balance on time can also improve your credit rating. Lenders will be able to see that you can borrow responsibly and pay back your debts. Then, you will be able to get a loan at a lower interest rate if you decide to borrow again.
Things To Know Before Taking a Bad Credit Loan in Ottawa
The process of securing a loan from a bank is more challenging than getting a bad credit loan from Northstar Brokers. However, applicants still need to meet the following criteria:
- At least three months with a valid checking account
- At least six months of full-time employment
- At least six months at the same residential address
- Be paid by check or direct deposit
- Not having any garnishes against your name or being in bankruptcy
How works a credit check?
Lenders use FICO scores to determine your repayment capacity. A credit report shows your past credit history and whether you have repaid your debts on time. Generally, with a bad credit score, you are not able to secure a loan, but bad credit loans in Ottawa change this in a big way.
No credit check with Northstar Brokers
Getting a bad credit loan from Northstar Brokers means no credit check. This means you don’t need to stress about a bad credit score before hearing back from us. We simply don’t need your credit scores to decide whether or not to give you a helping hand. All we need is the relevant documentation, such as payslips and social security details. It’s that easy.
Once we’ve gone over all your documentation, we can start the process of securing the funds you need. Life’s unexpected occurrences are enough of a pain, so getting a loan from Northstar Brokers shouldn’t be.
Amount of Money You Can Get
Typically, our cash advances range from $300 to $3,000. With this loan size range, most short-term emergency expenses can be covered.
Documents to Share
As part of the application process for a bad credit loan in Ottawa, we will need a few things from you:
- Proof of your Social Security number and two ID photos
- A utility bill as proof of address
- Proof of salary from the last two pay periods
- Void checks / pre-authorized debits
- Your last 90 days’ bank statements
When To Use a Bad Credit Loan in Ottawa?
Bad credit loans are helpful for dealing with urgent financial situations and aren’t meant for long-term financial issues. So, if you need an easy financial loan for unforeseen circumstances in a bad credit situation like medical bills and emergency home repairs, a bad credit loan is the answer.
Because each situation is different, the terms of your loan will be tailored to what you can pay and when you can pay it. The repayment terms of your bad credit loan in Ottawa will be discussed with one of our professionally skilled brokers before your loan is approved.
Why Choose Northstar Brokers?
At Northstar Brokers, we are known for our speed and transparency. You can apply for a personal loan quickly using our straightforward three-step process. Your request will be answered within 90 minutes by one of our brokers, and once your request has been approved, the money will be sent to you within 24 hours.
THE EFFECTS OF BAD CREDIT
Bad credit doesn’t just affect the ability to borrow. It can also be a major handicap if you are looking for work or accommodation to rent. In most cases, employers and building owners check the applicants’ solvency before making a decision
WHAT IS A CREDIT RATING?
The standard credit score, also known as “FICO score” (formula created by the Fair Isaac Corporation), is a risk measurement tool used by lenders to assess a borrower’s solvency. It shows your past credit history and is established according to whether or not the repayment deadlines are respected. People with bad credit get a low credit score
THE BENEFITS OF CONSOLIDATION
A personal bad credit loan can get you out of trouble
If you need cash quickly when your credit rating isn’t high enough, banks and some lenders will consider you a sub-prime borrower and reject your application. Personal bad credit loans are specially established to allow you to qualify for a loan despite this obstacle.
Frequently Asked Questions
WHAT IS A SHORT-TERM LOAN?
A short-term loan is a service that allows customers to quickly get money to deal with a short-term financial problem
HOW TO USE MY SHORT-TERM LOAN
Short-term loans are mostly used to cover unforeseen expenses, to pay bills and to avoid additional charges due to bounced payments.
WHEN WILL YOU CONTACT ME?
After sending your request online, one of our brokers will call or email you to review your request. If you have submitted your request outside of our working hours, we will contact you at the start of the next working day.