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If you are considering financing your wedding, but don’t know where to start, then the first place is to look at your credit score. A lot of people ask- “do you have to have good credit for a wedding loan?”. The important point about this is that good credit will help you secure a loan.
Look for Places that Specialize
There are many lending institutions that specialize in wedding loans. These are the type of places that you should be looking for. You need a company that is familiar with weddings. Most of these places understand that people are young when they get married. However, they see the potential for people to get better credit in the future.
A lot of credit loaning is about potential. If you are getting married, you both will probably want to buy a home together. Also, you will be sharing your income with your partner, so that will help double your potential for paying your bills on time. This is especially true if a person has extended family now because often they will help the couple out in times of crisis.
Be Prepared to Foot Some of the Bill
You might have poor credit, but you still have paychecks coming in. If you thought you’d save these for later, consider getting a microloan from your parents. If they see that you are willing to give them $500 up front for a $5000 loan, then they might be willing to say yes. Especially if you tell them that that money is a down payment on the interest you will pay them. They are likely then to see the potential for them to even earn a bit of money down the road for their own saving.
There are many ways around bad credit with the upcoming nuptials. Just be willing to implement creative solutions for them to happen.