When it comes to getting a loan, it may seem impossible if you have bad credit. Maybe you’ve tried going into your local bank branch and applying for a loan, only to walk out carrying strong feelings of rejection instead of the cash you need? For many Americans, an unpredictable economy, marked by an increase in joblessness due to the rise of automation and artificial intelligence, leaves a better credit score to be desired.
If this sounds like you, what would you do in the event of an emergency? How would you cover your expenses and basic needs if a disaster were to strike today? In this article, we’re going to talk at length about bad credit loans that could help you, should you ever find yourself in a financial bind, and how to find lenders offering bad credit loans through MoneyMutual’s marketplace. First, let’s examine what types of bad credit loans might be available to you.
- Payday Loans: If you’re approved for a payday loan, lenders generally will expect you to repay the loan on your next payday, although terms on payday loans may vary depending on the lender.
- Installment Loan With Bad Credit: If you have to borrow more than you can afford to pay back in one pay period, a bad credit installment loan may be a better option for you. These loans are paid back over several payments, but the terms vary from lender to lender and based on your credit score.
- No-Fax Bad Credit Loans: It’s 2019, who really uses fax machines anyway? The advent of online lending has made for a new wave of faxless loans, making it easier and more convenient for you to get money fast.