Can I get a Personal Loan with Bad Credit?

If you look for a Personal Loan but have a bad credit score, the first thing you need to do is to find a lender ready to offer you a loan, ignoring your credit history. They will take into account other factors such as:

  • your existing financial condition,
  • employment history,
  • monthly income,
  • the property you own,
  • ability to repay the money.

 The loan amount will accordingly be lower if you have a lower credit score. If you want to get the maximum amount possible, consider the following options and useful tips:

  • Before applying, check your credit report. You can do it for free at least once a year.
  • Join a credit union, which can offer you more favorable conditions. Though, this variant suits only those who can wait and don’t need money urgently.
  • Apply for an unsecured $1,000 - $15,000 Personal loan online or in-store if you need to pay off a credit card,o pay for studying expenses or home improvement.
  • Find a co-signer. Then you can apply for a Personal loan up to $15,000 with a better chances of getting approved, depending on the creditworthiness of the co-signer.
  • Apply for a secured Personal loan, offering personal property as collateral. It may be a car, a house, etc.