- Any credit accepted
- Rates from 6.99%
- Doesn't affect your credit
- Loans up to $50,000
- Re-establish your credit
- Apply once, get multiple options
Having bad credit can make it difficult to get approved for a personal loan from your bank. If you’re in this predicament, you may find better luck applying with an alternative lender.
Several lenders are available in Charlottetown that service bad credit borrowers, including the following:
Fairstone | – 201 Buchanan Dr., Unit 6, Charlottetown, PEI, C1E 2E4 | Learn More |
easyfinancial | – 339 University Ave Unit 5, Charlottetown, PEI, C1A 4M8 – 9 Babineau Avenue, Charlottetown, PEI, C1A 0C9 | Learn More |
Spring Financial | You can apply for a loan online in Charlottetown. No Physical branches are available. | Learn More |
LoanMeNow | You can apply for a loan online in Charlottetown. No Physical branches are available. | Learn More |
Fairstone offers secured and unsecured personal loans to borrowers of all types. You can apply in person at Fairstone’s Charlottetown branch or apply online. Get access up to $50,0000 as soon as today.
easyfinancial offers personal loans that are much easier to qualify for compared to conventional bank loans. Use the funds to cover anything from bills, home repairs, and car repairs, or consolidate your high-interest debt. Apply in person or online without negatively affecting your credit score and see what you can qualify for.
If you prefer to apply for a bad credit loan without having to visit a branch, consider Spring Financial. You can apply for a personal loan online within minutes and get access to the borrowed funds as soon as the same day. Pay back your loan whenever you want without fees.
LoanMeNow is a great option if you have bad credit and need a quick cash fix. Apply online and get approved within the hour, with funds available in less than 24 hours.
No credit check is performed, so bad credit is acceptable. Instead of your credit history, LoanMeNow will use your employment and banking information to verify your financial health.
Yes, you can finance a car with bad credit in Charlottetown, but you’ll have difficulty qualifying because of your credit rating. And if you are approved, you may have a tough time securing a high loan amount, and your interest rate will be much higher.
Instead, you may want to apply specifically for a bad credit car loan that uses the car as security for the loan. With collateral, you may have better odds of getting financing to purchase a car.
Loan scammers can take advantage of all types of borrowers, but they tend to prey most on bad credit borrowers. It’s important for consumers to get familiar with the signs of loan scams to avoid becoming a victim.
Let’s take a look at some of the more common red flags to help you spot a potential scam.
Lenders that guarantee loan approval before you even fill out an application are likely trying to take advantage of you. Generally speaking, lenders have a set of loan criteria that borrowers must meet to get approved for a loan.
Even if no credit check is required, the lender will at least want to make sure that your income is enough to support your loan payments. Guaranteed loan approval is typically a sign of a scam.
Reputable lenders will never ask you to make an upfront payment before a loan contract is signed. When you take out a loan, you make repayments in installments that cover your loan and any fees or interest charges.
If a lender asks for an upfront payment before you get access to your borrowed money, this is likely a scam.
All legitimate lenders should have a physical location, or at least have an active website. Steer clear of lenders who have no sign of a physical location or website address. And even if they do provide an address, always verify it’s legitimate before proceeding.
Like everything else in life, if a loan offer sounds too good to be true, it probably is. For instance, reputable lenders won’t make cold calls with amazing offers. They also won’t randomly send letters guaranteeing instant loan approval without a formal application.
Regardless of how good a loan offer may sound, it could be a scam if it sounds too good to be true.
Bad credit loans in Charlottetown may be one way to deal with your financial troubles, but they’re not the only option available. Many government offices and private organizations offer various programs to help cover the cost of food, housing, clothing, utilities, and other expenses.
You can quickly and easily find all the resources you need in Charlottetown by using www.211.ca, an online resource that connects those in need with programs near them. Here are a few local Charlottetown programs that can be found on www.211.ca:
Several stores are located throughout Charlottetown that provide low-cost or free clothing items to residents in need. Here are a few resources you’ll find on www.211.ca:
The Government of PEI runs the Social Assistance Program that provides financial assistance to eligible individuals to help cover the cost of basic needs, such as food, clothing, housing, utilities, and household goods. The program is available to residents of PEI. Payout amounts are based on household income, the number of children in the household, and other factors.
The Salvation Army operates the Home Heating Assistance Program, which provides financial assistance to low-income residents to cover home heating costs. Eligible recipients can get up to $1,200 for their heating bills.
Charlottetown residents who are finding it difficult to cover the rising cost of groceries can access non-perishable grocery items at one of several food banks across the city, including the following:
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