Banks that lend credit to a bad credit register provide debt settlement or debt restructuring services for all their customers. Persons whose credit ratings are below the normal level cannot be expected to benefit from these loans. However, they can request loans from some banks if they fulfill the guarantor or mortgage conditions. You will still need to have a certain credit rating to take advantage of these services of banks that lend money to the bank with a bad track record. Many banks within legal proceedings or track record of providing services in the countryif they provide to people with bad credit can provide the appropriate conditions.
What should be the credit score of the ones with bad records in order to get credit?
Credit rating is the most important factor to attract credit. If you do not have enough credit ratings, it is not possible to withdraw credit from any bank. To say that the bank has a bad track record or is on the black list is directly related to the low credit rating. Anyone who does not pay the old loan debts, borrow constantly and does not pay the loans from the banks on time will decrease. And soon you will be on the black list. In order to take credit easily from banks;
- 1700 – 1900 – very good
- 1500 – 1699 – good
- 1100 – 1499 – intermediate
- 700 – 1099 – medium risk group
- 1 – 699 – risk group
It is almost impossible for people with a credit rating below 1000 points to take out a loan. Having a low credit rating will result in almost twice the length of the loan process. It is a little difficult for us to say that credit is given to someone who has a bad track record.
How To Get A Credit To A Blacklist And A Bad Registry?
Credit is issued to those with bad records, and banks must first accept the heavy conditions. Even though many banks give loans easily and comfortably, it gives difficult loans especially to people with bad records or low credit ratings. In order for a person with a low credit rating and a poor bank record to take out a loan;
- Guarantor (among normal persons with a credit rating)
- Mortgage (house, land, car, etc.)
- Additional guarantees and
- Document showing income status
These are the conditions offered by banks for people with bad records to take credit. Fulfilling these conditions may be risky for you if you do not trust your income situation. Even if you prefer banks that give credit without looking at the registry, it is almost impossible for those who have bad records to give credit to those with bad records other than these methods.
Which Documents Are Required When Taking Credits From Those Who Have Bad Records?
Documents requested from those with bad records differ according to banks’ service policies. In order for a person with a bad record to take out a loan, he must first meet all the conditions of the bank. Documents to be requested when a person with a low credit rating applies for a loan;
- Document showing income status (payslip, tax certificate, etc.)
- Guarantor / mortgage / guarantee etc. instruments
- Birth certificate
- Application form
- Other documents
It has been determined. Apart from these documents, the bank may request different documents from you. There are also many banks that offer debt restructuring credits or debt closing loans for people with low credit ratings and bad records.
They are the banks that are preferred by people who want to close their credit debt and those with low credit ratings. All banks that give loans without looking at the registry may request different guarantees for these services. At the same time, you can transfer your debts to different banks to create credit payment facilities.