Is it possible to get a personal loan from my bank if i have bad credit?

bank loan
jenn asked:


I had financial problems in the past, but now I’m married and we are doing just fine paying all of our bills. However, a credit card from my past is now seeking a judgment against me. If i can come up with $1,500 they will settle. Do you think my bank would loan me that amount of money even if my credit is bad?

9 Responses to “Is it possible to get a personal loan from my bank if i have bad credit?”

  1. Lisa - June 24th, 2008

    A few months ago you probably wouldn’t have any problem. But with this financial crisis, loans are going to be tougher to get. If you have collateral, or at least that amount is savings, you will have a much better chance.

  2. Marcie H - June 25th, 2008

    With the economy being the way it is I seriously doubt it but you never know. Explain the situation to the bank before applying and see what they say.

  3. stopccdebt - June 28th, 2008

    A loan is unlikely with bad credit, unless you have collateral to secure a small loan. Even then, it may be difficult to gain approval. I am not talking about a title loan, which is a form of legal loan sharking.

    If you have received a summons, then you have very little time to settle. However, if they have simply mentioned a judgment as a possible outcome, then you may be able to get them to stall on going to court while you come up with the money.

    A payment plan can prevent a judgment, but they will require full repayment rather than the settled amount. The settled amount must be paid in a single lump sum payment.

  4. LUIS P - June 28th, 2008

    I don’t think a bank will let you borrow such a small amount, I will try a Credit Union, but you have to be member and chances are that you migth need a cosigner.

    Another option is to have a garage sale or sell something that you are not using anymore and is worth some money around the house.

    Good Luck

  5. GREGORY - June 29th, 2008

    unless you go and ask them you’ll never find out.
    I did get a small loan here—card.org/ not sure if they do your area.

  6. helpdesk - July 1st, 2008

    You can definitely fins a bank they will give you a loan.. But the problem is since your credit score is bad, expect a high interest rate. So be prepared :)
    Check this resource :) it has a list of lenders for people with bad credit score

  7. Google - July 2nd, 2008

    You can better try this to get some useful links. It will help you a lot as it helped me.
    All the best…

  8. Yellow Carrot - July 5th, 2008

    why don’t you go and ask them directly?

  9. daniel - July 7th, 2008

    Yes you can get loan with bad credit. There are banks providing loans. You can get some useful links from this site.
    It will help you a lot as it helped me. All the best…