In order to help people with bad credit find lending options we have partnered with multiple unsecured personal loan companies that are ready to receive your loan application online today regardless of your credit history.
Start Now! Find Unsecured Personal Loans for Bad Credit from $200 to $35,000
Complete the short 1-step form below to view our list of trusted unsecured loan providers that provide unsecured personal loans for bad credit and apply quickly online.
Unsecured loans are a type of loan that are granted by a lender or loan company based only on the borrower’s creditworthiness and therefore do not require collateral. Since no collateral is required for an unsecured loan this puts the lender at a great risk so they typically will do a full review of the applicants credit reports and scores and may require proof of employment or other documents in order to lessen their risk when considering the prospective borrower for approval. The advantage of an unsecured loan vs a secured loans is that you do not have to put up any assets that you could risk losing if you defaulted on the loan. Of course you plan on paying your loan back but it is still generally better to avoid putting your assets at risk if you can. The negative side to an unsecured loan compared to a secured loan is that interest rates on unsecured personal loans are typically higher than with a secured loan even if you have great credit since these types of loans come with additional risk to the lenders since they no collateral is required. It is always a good idea to consider both options when applying for a loan but many people prefer unsecured personal loans due to typically less paperwork and quicker funding than with a secured loan.
If you have an excellent credit score then typically getting an unsecured loan is not that hard. Unsecured personal loans for bad credit can be tough to find though depending on how bad your credit really is and how much money you need. Other factors also often come into play such as your debt to income ratio and employment status, etc.. Every lender has different lending requirements and criteria so your best bet if you have bad credit is to compare multiple options and find the solution that you feel is right for you. Be prepared to possibly pay higher interest rates or only be approved for a small loan amount if you have very bad credit or are not employed and be sure that whatever loan amount you take out that you can afford to actually pay it back.
If you are not able to get a loan due to bad credit or other financial problems then debt consolidation or bankruptcy may be something to also consider. If you are ready to get started comparing unsecured personal loans for bad credit then a great place to start is by completing our short 1-step form below to view our list of unsecured loan companies and additional options in just seconds.