Having bad credit can be stressful and you may be wondering how you ever managed to get yourself into that position in the first place and how you will possibly get out. If you are short on cash and looking for a loan or trying to find a way to consolidate your debt, you may be feeling despondent. The truth is, that if you know where to look, it is not so terrible. You just need to know where to get a loan with bad credit and you will be able to start getting yourself back on your feet. The even better news is that there are a number of different lenders, offering different types of loans, that are available today and having bad credit is no longer such a black mark against your name.
Finding a Lender
Many bad credit lenders offer flexibility in more areas than just the fact that they offer bad credit loans. If you are wondering where to get a loan with bad credit, you can start online. Many bad credit lenders offer online loans to compliment the flexibility and convenience they offer in terms of their requirements. This means that you can sit at home and research which loans are available to you, compare the requirements, terms and conditions of the loans and even start applying for loans without even needing to speak to a person.
When you search online you will find that some of the lenders that offer bad credit loans include car title loans, payday loans and peer-to-peer loans.
Bad Credit Lenders
Now that you know where to get a loan with the bad credit, we will look at some of the details of these three types of loans. Different types of loans will suit different people and you need to know how the loans work to find the right one for you.
- Car title loans – These are secured loans that are available for a period of around 24 months. Your car is the security of the loan so to be eligible you must have a car with a current pink slip in your name and insurance. The loan amount is calculated according to the value of your car. The loans are available within the hour, making them suitable for times of financial urgency. There is no credit check, no employment check and no financial background check.
- Payday loans – These are unsecured loans that are available in the short term in the period until your next paycheck arrives. To be eligible you must be employed as the loan amount is calculated according to the size of your paycheck. There is no credit check and the loans can be available on the same day.
- Peer-to-peer loans – While these are not exactly bad credit loans as they do list your credit score, they are loans from individuals and the the individual lender has the discretion to offer a loan despite a bad credit score. This can be an option of where to get a loan with bad credit.