So now, it makes us to understand easily about sub prime, which According to financial experts, there is, no hard and fast rule regarding this concept. As Different personal loan, providers may actually have different criteria that have to be full filled.
We can always talk in generalities; such as an a FICO score of 660 or lower tan that, two or more 30-day delinquent payments in their past 12 months, or one 60-day delinquency in their past 24 months quota, any foreclosure or the charge-off in the past 24 months span, any bankruptcy by the individual in the last 60 months, should have qualifying debt-to-income ratios of 50 percent or higher than that, their limited ability to cover monthly living expenses such as clothing, shelter etc.
If an individual's happens to fall under the sub prime category, there are other personal loan options available for almost anyone in this present scenario.
However, in the past, you would probably have had to seek out other options that are available to you. Yes, even those who are with bad credit. Of course, we have to realize that these kinds of personal loans would definitely carry higher interest rate, prices, and less desirable loan terms.
Jimmy_Warren
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