Having bad credit is actually a common issue in United States. Many people fail to pay back their outstanding balances to their lenders on time and as a result, their credit scores are badly affected. Some of them are sued by the creditors and they have to declare bankruptcy. When these people need loan for emergency situations, are they able to get help since they have negative items on their credit files?
In the real business world, when you have credit problems which can not be resolved, who do you look for help? Most probably you will look for family members or friends for assistance. Sometimes, due to dignity, it is hard for you to ask for help. You would rather look for banks or other financial institutions for help. But since your credit is bad, most of the traditional banks are not willing to lend you a hand. Who else you can refer to?
As a tax payer, you may think of getting help from the federal government. Nowadays, there are many service providers who claim that you can obtain government grants and government loan through their assistance. They try to convince you that getting the government grants is as easy as ABC. These companies are willing to help you to apply for the loan. In return, you just need to pay them back certain service fees. Are these companies really sincere in helping you to overcome your hardships?
If you think about this matter seriously, is it rational for the government to provide loan to those citizens who have bad credit? Seriously speaking, our federal government only provides FOUR types of personal loans to its citizens, ie student loans, home loans, small business loans and disaster relief loans. If a person with poor credit needs cash for other purposes, such as paying medical bills, going for honeymoon, purchasing automobile, paying off credit card debt, etc., it is for sure that he or she will not be able to obtain the loan . For those companies who claim that they are the government agents who can provide such financial assistance, you are reminded to stay away from them. They are scams. They just want to make profit from you. Please be realistic. You need to be smart. Federal government personal loan for people with bad credit does not exist at all.
Do not be upset with this truth. There are many legitimate non-bank lenders who are available in the market to provide loan for people with bad credit. Some even offer "no-credit-check" loan for people who have steady employment. Do not depend on government. Work out the solutions on your own.