Loans with Bad Credit Status - Lending Company Providers in the Philippines, Options and Terms

Got bad credit? Know your options for loans with bad credit status whether you have cancelled credit card, replevin case, sum of money case or bounced check BP 22 court case. With this guide, you can find a way to consolidate loan payments into a single loan that will help you get out of that mess.

I am your Filipino loan consultant who offers free loan consolidation, consultation and application service thru my different lending company providers in the Philippines. Maximize whatever option you have left to achieve terms that will be affordable for you to pay.

Know how to get out of debt problem and how to get the best choice for your loan today. Below are some of the list of collateral and non-collateral loans you might qualify to apply for. Know and pre-qualify now!

Available Loans with Bad Credit Pinoys

Because Philippines probably had the most under developed lending system in Asia, many FIlipinos with bad credit debt are having a hard time trying to find a company or an agent that serves loan consolidation programs. Nobody would trust anyone who had big problems with paying debts through loan consolidation programs.

Because of this fact, very few in none would allow lending money to bad debt people for loans with bad credit. Unless of course you have something to use like a real estate property or car as collateral to file for loan or your only choice is to go to loan sharks. This is true because I have encountered this once with a loan consulting client who doesn't even have bad credit. He is just a victim of bad timing of resigning from job and not having an income to use as proof of capacity to pay.

Local banks also had no choice but to stay away from people with bad credit. They use a centralized banking system credit checking called C-Map or credit mapping. Here in the Philippines, any Pinoy with cancelled and unpaid credit card or loan or those who have closed checking account due to bounced cheques or repossessed property (replevin case) cannot apply with banks.They are left with very few choices but since I am your qualified loan agent, allow me to introduce a few below.

  1. Car Loan with Cmap
  2. Real Estate Collateral Loan
  3. Car Impounding Loan

4 Effective Ways to Get Out of Loans with Bad Credit

So just to let everybody know that I am all the way honest in trying my best to help Pinoys who have bad credit to get a loan that will consolidate all debts into a single loan to pay for in the most convenient ways.

Below are some of the best and most effective ways to do that. There may be other choices and options but as of this day, after serving for more than 3 years in the lending industry for hundreds of clients looking to apply for loan under different reasons, I have come up with these 4 surefire ways to get out of bad credit.

How to Get Out of Bad Credit in the Philippines

In the picture, you will clearly see how hard it is to get out of bad credit. I am tipping you therefore on how to go over with that dilemma. So let us help you with your problem now and get the problem solved with the help of Fast Loans Philippines.

Getting out of it is not easy but here are some of the surefire ways to do that with the help of a professional loan consultant.

  1. People with Bank Problems - Filipinos may be in to bad credit status with 3 most common ways (cancelled credit card and bounced check case / foreclosed property / unpaid loans) - If you are in to either of these 3 situations, chances are you can still come up with something to get out of this mess. First, for those of you who did not know it, an amicable settlement might still be available. All you have to do is to talk to the bank and offer what amicable settlement you can come up with that is reasonable both for you and for your bank legal department. Yes, at this point, it will be the legal department that will be your first destination. Trust me that this works because I have a family member who had been through this and I'm glad I was able to help her with it. If you happen to finish settlement, be sure to check on your credit status and be sure that the bank issues you a certificate of full payment or clearance which you will have to bring to the RTC (regional trial court) to file for a court case clearance.
  2. Use a Dummy to File for Loan on your Behalf - When I say "dummy" I don't mean cheating or using illegal ways to get a loan from banks which we all know offer the lowest interest rate in the Philippines today. A dummy will have to be someone who is a nearest relative willing to trust you with the loan that you will be able to pay for it. If you already have a better or good employment status than when you committed the mistake turning you into someone who had loans with bad credit, then you have nothing to fear. You can absolutely pay for your loan. Again, banks offer the lowest rate compared to private lending companies.
  3. Apply for Loan Restructuring Program - Although very few would allow it, you loose nothing trying to ask and know if you can qualify for loan restructuring program especially if you have existing loans with bad credit status. Under this, you will be allowed to pay for your loan at a much lower monthly amortization but chances are, you will still be obliged to pay for the same interest. Also while under this program, you have to make sure to pay on time with the right amount until the loan has been fully paid. Remember that this is a second chance so if you fail to come up paying on time, you will no longer be allowed to apply again, EVER!
  4. Apply for Collateral Loan - This is a worse case scenario as very few who are in to loans with bad credit have something to use as collateral. If you don't, fear not. There are still options. I have a client once who had parents willing to help her get out of debt problem so they allowed her to use their ancestral house and lot as collateral to file for a loan that will consolidate all loans into a single payment scheme. The proceeds therefore will be used to pay for all the loans and thereby coming up with a single loan to pay so you can finally get out of your nightmare of having loans with bad credit. If you are somebody who is in to this, I have a provider who offers house and lot loan with lowest interest rate. You can visit this page for more information too - http://www.houseandlotloan.com/.

Collateral and Non-Collateral Loan Options for People with Bad Credit

So what are your collateral and non-collateral loan options and how do you qualify, apply and know that this option is for people like you who have loans with bad credit standing? What specific loan options do you have and where do you apply for it? Below is the list and be sure to consult with me before any move is made towards application. Remember that a failed application will leave you less and less choices so you have to be careful this time.

  • House and Lot Collateral Loan - There are always private lending companies that allow house and lot to be used as collateral to apply for loan and get the money you need.
  • Car Loan Without Taking Your Car - Some lending companies would allow you to file for a convenient loan using your car's OR CR only and they will not take your car at all. This is your chance to know how to apply, qualify and what requirements to submit.
  • Business Loan - In case you did not know, there are companies that even if you have a C-Map bad record with banks and other lending companies would allow you to recover from loans with bad credit. All you have to do is to qualify and produce the right documentary and statistic requirements. I have just the right provider for you in this case.

Lending Companies that Offer Loans with Bad Credit People

Although many of us thought (including me) that lending companies in the Philippines who use a database system for checking credit status, there are a few who don't utilize BAP or Bankers Association of the Philippines data mining. To come up with banking credits, some lenders would use Forbes Financial Consultancy Corporation system. In my knowledge and experience, these lenders are your target financiers if you have loans with bad credit. These same lenders will possibly allow and approve you of a loan that you can use to pay out existing credit and hopefully get our of bad credit status. Below are some of the currently existing and operating lending companies who use FFCC as their data mining agent to check people's banking credit.

  1. Macondray Finance - offering SSS pension loan and seaman loan
  2. Global Dominion Financing Incorporated - offering personal loan, seaman loan, business loan, doctor's loan, car loan, car financing, truck loan, truck financing, OFW loan and real estate collateral.
  3. Asialink Finance Corporation - offering the same types of loans as GDFI above.
  4. Strong Helm - seaman loan.
  5. SACC - (South Asialink Credit Corporation) sister company with GDFI and AFC offering the same set of loans.
  6. Nfinit - seaman loan
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