If you have a history of bad credit and a low score, it will be hard to convince a lender to lend you any amount of money. People with bad credit can't get credit, no matter how long ago they had problems. When it comes to loans for people with bad credit, the best place to look is online.
There are many lenders who only give loans to people with bad credit. These lenders offer both secured and unsecured bad credit loans to people who have been turned down by other lenders. So, if you have bad credit, you have a much better chance of getting the loan if you go to one of these places. Since you are a bigger risk, the interest rate will be higher, though.
If you need a loan but have bad credit, you should look around for the best deal. Even though the interest rate is higher than usual, it will vary a little from lender to lender, as will the requirements you'll have to meet. Some of the best online lenders will give you deals like not having to pay for 6 months. This is great if you have bad credit and are having trouble making ends meet because it gives you time to catch your breath. If you are lucky you will be able to get a bad credit loan that has a fixed rate of interest for so long and this can give you peace of mind that the repayments aren't suddenly going to shoot up. If you are taking a secured loan the some will allow you to borrow up to 125% on the value of your home, but do bear in mind that this means that should you falter on the loan repayments your home is at risk of being repossessed.
