Http:www. laalmanac. comsocialso14. htm Background Statistics National Coalition for Homeless Veterans. Accessed January 27, 2016. http:nchv. orgindex. phpnewsmediabackground_and_statistics What is a Payday Loan. Consumer Financial Protection Bureau. January 13, 2016.
Even if you are granted a loan, it will be at an extremely high interest rate. The terms of your loan will also be limited. The amount you can borrow will be small, and you will most likely only be granted a personal loan or a student loan, since house and car loans are considered too risky for a person with bad credit. In certain cases you could be granted a salary loan if your income is high enough to repay it.
The Use of Collateral. In the sticky situation where you have bad credit as well as no bank account, you may still borrow money from an alternative lending agency if you are able to put up collateral.
Additionally, tribal lenders may require you to agree to resolve any disputes in a tribal jurisdiction. You are urged to read and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.
The purpose of shorter duration loans is to provide the borrower temporary financial relief. Such loans are not a long-term financial solution. Persons facing serious financial difficulties should consider other alternatives or should seek out professional financial advice. This website is not an offer to lend.
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