Which bad credit lenders are the best, and which Bad Credit Lenders have the easiest and fastest approval process? Well, the question you should be asking yourself is, “Which bad credit lenders are legitimate lenders and are not loan sharks?” This is the reality of the borrowing process and this is what many young borrowers do not understand these days (so it seems). We need to be wary of so-called quick lenders who claim to approve loans really fast and with the easiest approval process. They may have the quickest approval process, but do you fully understand what the stipulations of the lending agreement are?

Here at CLF we get allot of people looking for bad credit loans. We see hundreds of thousands of visitors on this web site every month looking for a loan when their credit rating/score is seriously damaged – in some cases, to the point of being hopeless. Well, we have a question for our visitors.

The two questions our underwriters ask the most is,

“Where do these bad credit borrowers finally get approved?” OR;

“Do these bad credit borrowers EVER get approved?

Basically, we want to know if there are many happy endings out there for the borrowers that see and read our posts. How many visitors to CLF finally find some success online and offline? Are the borrowing tips we share being utilized, and have we helped bad credit applicants finally succeed in getting approved for a loan with a fair APR.

So please leave your comment and answer the questions as presented here;

• did you get approved for a bad credit loan online?
• did you get approved for a bad credit loan with a local bank or private lender?
• what was the APR on the loan (annual percentage rate)?
• how fast was the loan made to you?
• how easy was the borrowing process?
• how much did you borrow?
• what is the frequency of payments?
• what was your FICO score at the time of applying/borrowing?
• have been employed at the same place for the last 3 years?
• have you lived at the same address for the last 3 years?
• no collateral loan, or a collateral loan?
• what State in the USA do you live?

That is not allot of questions to answer, and it would greatly help new borrowers understand that they are not alone in their frustration, and give them a rough idea – whether or not they will be approved for the loan they need.

Making a List of Best Bad Credit Lenders

We want an entire list of bad credit lenders to be displayed on this post before we are done. We need your information first though. So we encourage you to leave a comment and leave the name of the lender (company that gave you the bad credit loan).

You don’t need ALL of the information listed above, but we would appreciate a much info as possible. Feel free to NOT use your real name in order to protect you identity. We just want to know if you finally got approved for your loan, and how much the borrowing cost (in interest) is over the time of the loan.

The details on the financial product is critical to having a qualified list of bad credit lenders on CLF. Unless you have a thorough understanding of what other borrowers have experienced, you won’t be able to make sound decisions on the kind of loan you need.

Our list of bad credit lenders will be listed by the best reviews so we can truly identify the very best. Without your participation we won’t be able to list the best bad credit lenders in the United States. We’re not including territories here either – just States as listed below;

Alabama: AL / Alaska: AK / Arizona: AZ / Arkansas: AR / California: CA / Colorado: CO / Connecticut: CT / Delaware: DE / Florida: FL / Georgia: GA / Hawaii: HI / Idaho: ID / Illinois: IL / Indiana: IN / Iowa: IA / Kansas: KS / Kentucky: KY / Louisiana: LA / Maine: ME / Maryland: MD / Massachusetts: MA / Michigan: MI / Minnesota: MN / Mississippi: MS / Missouri: MO / Montana: MT / Nebraska: NE / Nevada: NV / New Hampshire: NH / New Jersey: NJ / New Mexico: NM / New York: NY / North Carolina: NC / North Dakota: ND / Ohio: OH / Oklahoma: OK / Oregon: OR / Pennsylvania: PA / Rhode Island: RI / South Carolina: SC / South Dakota: SD / Tennessee: TN / Texas: TX / Utah: UT / Vermont: VT / Virginia: VA / Washington: WA / West Virginia: WV / Wisconsin: WI / Wyoming: WY

Regardless of the State you are living and working in, your bad credit rating will effect your chances of loan approval. Gone are the days when loans were approved based on what the bank thinks of you as a person. It’s all completely mathematical these days. No consideration is taken regarding where you are living because the approval decision is made in a central location in just one of the States.

What the Best Bad Credit Lenders (Banks) Look Like

The best lenders are ones the take as little time as possible to approve your loan, but at the same time, are the most thorough. The best does always mean the easiest either. Some of the best lenders out there may turn you down for approval quickly. This means that your FICO score is much to low, and they can see that you are a “high risk borrower”. They may be doing you a favor, AND them a favor, by not adding any more to your personal debt load. It may be time to stop borrowing, and start earning. I know that may not be what you want to hear because you need a loan really really fast, and you are really really desperate to get the money in your bank account today. Remember that it may not be the end of the world for you if you don’t get approved.

The best lenders who give loans to people with really bad credit ratings, are also ones that can be seen as “the best” by the people who are lending the money – investing (pooling) money with a bad credit broker. The broker will pool money from companies and individuals who want to capitalize on the bad credit ratings of local borrowers. There is big money to be made in lending money to high risk borrowers that the bank(s) won’t approve. Usually this kind of lending and borrowing is based on a real estate deal whereby the bad credit borrow is lent the money for a house privately and has to pay extremely high interest rates. These borrowers have to have a certain amount of equity in the property, and if they ever default or skip out on their financial responsibilities, the lender(s) assume the equity, and sell the property to another bad credit applicant for the same high fees. Rather a nasty business really don’t you think? This is not the best thing for the borrower – it’s the best deal for the lender.

The other thing the best lenders do is have excellent customer service and don’t hide clauses in their lending agreements that are designed to take advantage of a “low-information” borrower, or a borrower who never thought to read the fine print. A good lender will explain thoroughly to the borrower (you) where you stand, and how much you will be paying in interest over the full term of the loan. They will explain in detail why your interest rate is higher than other borrowers, and they won’t be sneaky with their loan agreement in any way, shape, or form.