Subprime Loans

Do you have a bad credit report looming over your head? Do you feel like you can’t escape the financial mistakes you made in the past? Does applying for a loan in order to buy a house, car, or pay for medical expenses seem impossible? You do have options. Subprime lenders are available for people who have a checkered credit history.

If you are struggling to manage your finances and are suffering from poor credit, contact the Austin bankruptcy attorneys of Slater, Kennon & Jameson, LLP to discuss your options. Call 512-338-1100 today to schedule a free consultation

Pros and Cons of Subprime Loans

Applying for a subprime loan has its perks and its downsides. Subprime lenders are willing to consider one’s entire credit history and make allowances for mistakes made in the past. There are a number of reasons why one could have a low credit score. While it is a reflection of your financial responsibility, it is not always entirely accurate. Unexpected emergencies, such as car accidents, illnesses, or sudden unemployment could be responsible for a credit score taking a dramatic dive.

While subprime lenders are more likely to overlook low credit scores, that does not mean you won’t pay a price for their generosity. Subprime lenders typically charge a higher interest rate for people who receive loans but have poor credit. If you are truly in a crunch, however, and desperately need a loan, this may be your best option.

Contact Us

If you need assistance in choosing a subprime lender or have questions regarding debt and bankruptcy, contact the Austin bankruptcy lawyers of Slater, Kennon & Jameson, LLP by calling 512-338-1100 today.