Bad Credit Loans
Bad credit and emergency expenses don't mix. Sort your expenses out today with a bad credit loan.
- Any Credit Score Considered
- Swift Approval Decision
- Safe & Secure
Secure Your Financial Futures With Bad Credit Loans
How do you deal with emergency car repairs, and medical bills when the bank won't even give you a chance because of bad credit? The answer - a bad credit loan. Simple, easy and quick to get! You should give it a try.
How Do Poor Credit Loans Work?
Loans for bad credit are designed to help you get financial aid even if your credit score isn't so impressive. Poor credit loan lenders may consider factors such as your income and employment history when determining your eligibility for a loan. Once approved, you will typically be paid as soon as the following day.
How To Get A Loan With Bad Credit Online?
Fill out the form
Fill out the application form for online loans for bad credit. Make sure you provide the correct details to make connecting with a lender faster.
Get quotes from different lenders and compare their terms to see which is more favorable. Then, stick with the quote from your chosen lender.
Sign quote and get funded
Sign the lender's quote and you should expect to see the approved sum anything from the following business day.
Benefits of Choosing Us for Bad Credit Loans
The process of obtaining a bad credit loan is easy. You can get loans with bad credit in the hundreds to thousands from the comfort of your mobile device and in 3 quick, easy steps.
Once you have been sent a quote by our lenders and you've signed it, you can expect to get the loans for bad credit as quickly as the following business day.
Hard Credit Check Not Needed
The CFPB mandates every lender to do a credit check. However, unlike other lenders, our lenders run only soft credit checks which will not hurt your profile. You are safe with us!
Affordable Interest Rates
Many bad credit loan lenders try to offset the risk they're taking on you by charging high interest rates. Our partner lenders beg to be different. They understand your financial position and so, charge only fair and affordable interest rates.
Ethical Bad Credit Loans Lenders
The bad credit loan lenders in our panel are professional and ethical in their dealings. They will never charge you any hidden fees or play any monkey business with you.
Premium Data Security
Our website is well protected against privacy leaks with industry-leading security standards. Your information is safe and secure with us.
How Do I Compare Online Loans for Bad Credit?
Before arriving at a decision or settling with a lender, it's recommended you compare the offers you have. Here's what to watch out for:
The rule of thumb is the higher the interest rate. If you're borrowing on the long-term, a high interest rate can be quite disastrous. So, compare the different offers and go with lenders with low-interest rates.
Compare and contrast the lender's bad credit loan terms to help you arrive at a decision. A long loan term means lower monthly payments while a short loan term can spell lesser interest charges.
Do some digging yourself to know your potential lenders better. Read up on customer reviews to know which ones can be trusted and how they treat their customers in general.
What Are the Pros and Cons of Loans for Bad Credit Online?
There are many advantages of getting loans with bad credit, some more obvious than others. These are some of the most important.
Quick and speedy
Obtain a loan request form, fill it in and supply answers to the questions asked and once approved, you could get funded as soon as the next business day if not earlier. Talk of speed and convenience in one breath
Improve your credit score
Consistently pay your bad credit loans on time and you could see your credit score make a significant jump. It's a good way to show yourself as a responsible borrower and hence, increase your credit score.
Long repayment term
Depending on the lender, you can get repayment terms anywhere from a year to five years. However, you should know that the longer the repayment window, the higher the interest rate.
Loans for bad credit online also have some cons. Here are some of them:
High interest rates
People with bad credit scores are taken as high financial risks, so lenders may want to offset these risks by charging high interest rates. Generally, the lower your credit score, the higher your interest rate.
Can lead to further debts
Bad credit loans online are so convenient that it could be tempting to keep borrowing without proper repayment plans. This could lead you to a financial quicksand.
May need collateral
Although most don't need one, some lenders may require you to put up collateral to get a loan with bad credit. This may be problematic for borrowers who don't have any collateral to turn in.
Common Types of Online Loans for Bad Credit
Don't want to get a bad credit loan? You may want to try out these loan alternatives instead.
If you've got a car in good condition and can't get a bank loan because of a bad credit, you should consider leveraging that ride. You can secure a loan in thousands by turning in your car title. Here's the best part - the lender doesn't seize the collateral. You still get to drive it around.
This is perhaps the most convenient of loans to repay. Installment loans give you the convenience of paying in bits, called installments, till you complete the payment. Also, it's long-term and so allows you to borrow more money.
Payday loans are the go-to bad credit alternatives if you need to make a quick fix before the next time you are boxed up. Like bad credit loans, you also do not need an incredible or near-incredible credit score.
Just like its name suggests, you get funded quickly. If you're in a financial emergency, getting a quick loan is perhaps your best move. You can get funded as soon as the next business day and the general acceptance rate is on the high side.
How Can I Improve My Credit Score?
Generally, the higher your credit score, the better your chances of landing a loan. So, you must be looking to embrace activities that improve your credit score. Here are some of them:
Just one late payment can dip your credit score and it could take some time to bounce back. So, you might want to set reminders on your phone or schedule automatic repayments to ensure you don't miss a payment date.
Lower your credit utilization ratio
Credit utilization ratio is the ratio of debt owed to the amount of credit available. Lenders look out for people with a ratio less than 30%. Therefore, paying your balances early and spending less can help you reduce this ratio and hence, increase your chances.
Ensure your credit accounts remain open
An old credit account with good standing can potentially increase your credit score. So endeavor to keep your old accounts alive even if you no longer have need for them.
What Do I Need to Qualify for Bad Credit Personal Loans?
To qualify for personal loans for bad credit with a lender, you must meet their minimum credit score, income level, and debt-to-income ratio.
How Much Can I Expect To Get?
For a short term loan expected to cater to your immediate needs until your next paycheck, you can get up to $5,000 (depending on your state's credit ceiling). Long term loans like personal loans for bad credit allow you to borrow up to $35,000 (depending on your state).
What if I Missed Repayments?
The first consequence for defaulting on a loan is incurring penalties in form of interest and fees. If you tarry too long, they may be forced to pursue the funds legally. Therefore, if you are going to be late, you may consider debt consolidation or contacting the lender.
How Quickly Can I Receive Online Loans for Bad Credit?
The waiting time for someone with bad credit is just about the same as for someone with a better credit score. Once you have been approved and have signed the quote, you can expect to get funded as soon as the next business day.
What Do I Need to Qualify?
To qualify for a bad credit loan with a lender, you must meet their minimum credit score, income level and debt-to-income ratio.
Get Online Loans for Bad Credit Today!
Anyone with bad credit knows how difficult landing a loan can be. US Installment Loans is an exception though. Our lenders will link you with a lender willing to get you a bad credit loan online.Get Started Today