Online bank loans for blacklisted consumers

Online bank loans for blacklisted consumers

Online bank loans for blacklisted consumers

One of the main reasons blacklisted consumers seek a bank loan is to consolidate their already existing debt. Often, blacklisted consumers, or those with damaged credit are trying to manage the repayment of several credit accounts at once, under the pressure of increasing interest rates and late or penalty fees. Because they are unable to get financing from conventional banks, whose criteria are extremely limited, specialist lenders have created online bank loans especially for blacklisted consumers. These loans allow a once-off repayment of all debts, after which the loan is repaid on a monthly instalment, and often at a lower interest rate that the original credit accounts.