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What Are My Options for Bad Credit Loans? Peer-to-Peer Lending. ... Car Title Loans. ... Borrow Money From a Friend or Family Member. ... Pawnshop Loans. ... Payday Loans. ... Credit Card Cash Advance.
The easiest banks to get a personal loan from are USAA and Wells Fargo. USAA does not disclose a minimum credit score requirement, but their website indicates that they consider people with scores below the fair credit range (below 640).
Check your credit score. If you are rejected when you apply for a personal loan, you can ask the lender for the name of the credit reference agency it used. ... Improve your credit score. ... Don't apply for another loan straight away. ... Pay off any other debts. ... Family or friends. ... Credit union. ... Guarantor loan. ... Secured loan.
Some of the easiest loans to get approved for include payday loans, no-credit-check loans, and pawnshop loans. Personal loans with essentially no approval requirements typically charge the highest interest rates and loan fees.
What's the Easiest Loan to Get With Bad Credit? Personal installment loans. ... A payday loan: Whether online or in person, payday lenders offer one of the easiest loan options available. ... A loan with a cosigner. ... A car title loan.
Secured loans tend to have less stringent requirements and more favorable terms because the lender can take your collateral if you miss your loan payments. Some of the easiest loans to get in this category include auto title loans and pawnshop loans, but these also tend to be relatively expensive loans.
Strategies for overcoming loan denial Gather all of the documents you need. ... Build savings to afford a down payment and build cash reserves. Pay down debts to improve your credit and DTI. Review your credit and make sure everything is accurate and up to date. ... Calculate your income completely and correctly.
Personal Loan for Emergency. An unsecured personal loan can act as an emergency loan, which can fund unexpected situations. They are typically swift, with deposits arriving within a day or two of loan approval. Some lenders fund emergency personal loans the same day you apply.