The Christmas bells are ringing while familiar carols are being played, and Christmas songs are resonating in every house in the neighborhood. It’s almost Christmas once again and it’s time to prepare for the big festivity. And we all know what this means – Christmas presents!
You jot down the names on your merry Christmas list so you don’t forget a single person but you look at your bank account and can’t help but feel a bit disheartened. It’s drained. And with a bad credit looming over your payables; there’s just no way you can keep up with the festive overheads.
Don’t fret – quick loans are here to save the day…or Christmas holidays! Financial institutions offering fast loans don’t want you at the heels of this most important day of the year. These quick loans can guarantee you approval even with a bad credit. Here are the 5 best Christmas quick loans you should check out before hitting the malls for your Christmas shopping.
1. Personal Loan
Personal loans are the most common type of loans for people in the torment of bad credits. However, these are unsecured loans which means you don’t need to have a collateral upon requesting. These money lenders guarantee you a quick loan plus a lower interest rate. Just make sure your loan doesn’t exceed 60 percent of your net salary. Also, the greater the amount, the lesser the chances you’ll get approved. I’m sure your Christmas preparations don’t need that much so try going for an appropriate amount you’re sure you can pay back.
2. Payday Loan
This type of loan is encouraged when you want a meager loan amount. This is definitely classified under the ‘quick loans’ section as it only needs a few paperwork and approval will take a couple of hours only. This is a great alternative when you want quick cash and a lenient credit check. The interest rates depend on how much money is approved and will also depend on the moneylender. To get the lowest interest rates and credibility background check, try to ask for recommendations or search online.
3. Co-Signed Loans
Co-signed loans may be one of the hardest favors you can ask from a friend or a family member with a good credit rating and are considered as quick loans. They will have the biggest role of co-signing the loan for you. And in the event of you flaking on payments, the co-signee will have to pay the debt for you because they signed for you hence, they’re obligated. So think twice about who you should ask and just make sure you man up to your financial responsibilities.
4. Credit Union Loan
Compared to acquiring your loan from a bank, a credit union is a better alternative to quick loans. Banks are huge financial institutions and will mostly have bothersome red tape before reaching a verdict. Credit unions, on the other hand, are local banks owned by members only so the entire process will be shorter and quicker. Of course, you would have to become a member to be eligible for a loan, but applying for a membership is as easy as pie!
5. Loan from Friends or Family Members
This option should be at the bottom of your quick loan list because this can jeopardize the relationship you have with the loaner. But if you’re already at your wits’ end, it’s only fair if you establish a loan agreement despite how close you are with the person. But if you’re confident about being able to pay back the entire loan amount, then there’s really no need to worry.
Now that you have these options available; make sure you get into the Christmas spirit! You have ample time to decide on the types of quick loans you can go for. Just see to it that you don’t worsen your bad credit with yet another bad credit for not paying another loan.