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    First Choice loans for people with bad credit
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    3YearLoans loans for bad credit
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    LoanSolo loans for bad credit
  • BetterLoansMutual for people with bad credit


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Personal Loans for People with Bad Credit

Getting through a financial emergency can be challenging, most especially if you don’t have the money to cover for such an expense. And while getting a loan may provide you with a quick solution, this may not be an option for people who do not have a good credit score. When you have poor credit rating, traditional lenders such as banks would likely turn your loan application down.

Fortunately, there are other lenders that specialize in providing personal loans to borrowers like you who are unlikely to get regular personal loans through banks and other traditional lenders because of bad credit.

These personal loans usually have short repayment term, usually ranging from days to a month. The most attractive feature of personal loans with bad credit is that the loan process is fast. After meeting the basic requirements, you can get the money within 24 hours.

With these features, personal loans for people with bad credit are great solutions for emergencies and when you cannot get credit from anywhere else. Whether you need extra money to pay for an unexpected bill, a medical emergency or to fund a vacation, personal loans for bad credit borrowers are among your most convenient options or alternatives to regular bank loans.

Qualifying for Bad Credit Loans

Thankfully, if you do find loans for people with bad credit to be your only option, the chances of you being approved are very high. Since no thorough credit checks are performed, you can expect to get a response on your application in as fast as 24 hours.

The basic requirements to getting personal loans for bad credit include:
– You must be at least 18 years old.
– You must be in regular employment earning over a specified amount.
– You must be a US citizen. Some lenders, however, only allow permanent US residents to apply, and not citizens who live overseas.
– You must hold a valid checking or savings account.

Since lenders do not look at your credit history or status, lenders that offer these loans lower the risks on their part by making sure that you have a stable income to pay for the loan. Most lenders require you to also provide proof that you have been employed in the same company for at least six months and that your income can afford the amount you intend to borrow from them.

Loans for people with bad credit are also subject to the specific terms of each state, so make sure you check your own state laws. Loans for people with bad credit give you a real lease of life when you need it most. If you are approved then the money will be in your bank by the next working day, which makes loans for people with bad credit a really speedy solution.

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Loans for Bad Credit


You might wonder why would a lender offer a loan to somebody who has bad credit or who has a history of defaulting in making repayment of earlier loans and therefore risk its money? Here are several reasons why loans for people with bad credit exist.

You may have a more acceptable reason why you have defaulted in your earlier loans payment. Defaulting in loan payments does not necessarily mean you have bad financial management and attitude toward dealing with your financial responsibilities. That’s why when you apply for a bad credit loan, your lender will likely ask you how you acquired bad credit.

Lenders will likely be willing to work with you if the cause of your bad credit was out of your control. For instance, you were dealing with divorce, child support issues, death or a family, medical emergency or temporary job loss. And while you still have bad credit, you have resolved the issues that severely affected your finances and you are now back on track to fixing your score.

If this is the case with you, then your lender will likely be willing to risk its money for you to help you deal with your situation. Lenders waive the risks they take in giving bad credit loans by charging higher interest rates and fees.

Lenders obviously take more risks in transactions involving loans for people with bad credit so they waive those risks by charging more fees or interest rates. This is most especially true with unsecured loans for people with bad credit.

Moreover, they don’t just make money through the interest rates but also through penalties, which bad credit borrowers are more likely to incur. For instance, bad credit cards which is a type of loan offered to people with bad credit, charge not only APRs but also late payment fees, late payment APR, annual fee, cash advance fee, etc. So if you don’t pay your bad credit debt according to the terms you and your lender agreed to, you will be subject to more fees, which is another money-making opportunity for lenders.

Bad credit lenders put more importance on your capacity to pay than of your credit history. Traditional lenders such as banks always look at your credit performance for regular loans. The rationale behind is that if you were not good at paying your earlier debts, then you are likely to default in paying for a new loan.

However, for lenders that offer loans for people with bad credit, although they may not totally ignore your credit score, your capacity to pay your loan off is more important than a past mistake. If you currently have a good income, you don’t have too much loans or you are willing to put a valuable asset such as a car, real estate property or jewelry as collateral for your loan, lenders will find you a less risky borrower despite your bad credit history.

In other words, it is not just you who is benefiting from bad credit loans. While your lender is willing to offer you financial assistance despite your tarnished credit history, there are also lots in store for them in these transactions.

Ways to Find Extra Cash

They often say that money can’t buy happiness. That might be true, but money can certainly buy you things that bring physical comfort, ease and contentment. Money is undoubtedly an essential part of your daily life. You need money to buy food, pay bills, and deal with life’s unforeseen curve balls. Finding money can be incredibly difficult, but it can be done. Here are a few simple, yet successful ways to score extra cash.

Create a Blog

Not only is blogging fun and interesting, it is also an incredible way to come up with extra cash. One of the simplest ways to generate income from blogging is to place ads on your site. If you have a flair for writing and photography and want to earn money from your passion, then blogging could be for you.

Participate in Paid Surveys

Participating in paid surveys is one of the quickest and easiest ways to make money on the side. Nowadays, there are thousands of companies online willing to pay you cash for your opinion on their products and services.

Loans for People with Bad Credit

Bad credit loans are also an easy way to get the cash you need quickly. The great thing about loans for people with bad credit is that they don’t require borrowers to be creditworthy. This means that you can get a bad credit loan anytime even if you have a history of late payments and bad debts. Obtaining a bad credit loan is certainly a good option in most cases.