Finding a Cash Loan with Bad Credit

June 20, 2009
If the economic downturn of the past few years has caused your credit rating to take a beating, it is still possible to find a cash loan to help with those unplanned financial emergencies.

Unlike in the past when a bad credit loan was almost impossible to obtain, the economy and unexpected expenses have created millions of consumers who now have poor credit histories. As a result, bad credit loans have become more common as a way for these people to borrow much-needed money.

These days it is harder than ever to obtain a bad credit loan from traditional sources such as banks or credit unions. These traditional sources tend to rely on good credit scores and collateral when approving loan applications.

However, there are literally thousands of companies who are willing to offer a bad credit loan to help the countless people who have found themselves in need of emergency funds. This is where can help. We separate the wheat from the chaff to make sure you are connected with the most reliable and respectable loan companies. Through us, you will receive a quick response and quote- all from the privacy of your home computer.

It's important to be extremely careful when you are shopping for a bad credit loan. There are a lot of unscrupulous companies out there who will try to rope you in with enticingly 'low' interest rates which can disappear once you have signed on the dotted line. Make sure that you read all information pertaining to the loan very carefully. Contact the provider if you have any questions. After looking around, you will find that you can't beat as a source for reliable rates and service.

When approaching a bank or other lending institution for a bad credit loan, you should:
  • Be ready to explain your bad credit history. If you have a really good excuse- such as a recent divorce, a job lay-off or another reasonable financial emergency- the lender may be more understanding.
  • Know your credit score. Depending on the degree of bad credit, lenders can suggest an appropriate bad credit loan for you. You are entitled to a free copy of your credit report from all three credit bureaus annually. The three agencies are: Equifax, Experian and TransUnion.
  • Know that a bad credit loan will either come with higher interest rates or you may be required to provide additional security or collateral.
  • Be aware that the interest rates for a bad credit loan are calculated based on the amount of money requested, your current income, and (in the case of a secured bad credit loan) the presence of collateral.
  • Know that there can be a lengthy application process and a long waiting period for approval (or denial) with traditional lending institutions. makes going to the bank unnecessary. From the privacy and the security of your computer, you can be approved for a bad credit loan in less than two minutes and receive funds into your account within an hour!

Finally, a bad credit loan may be the best thing for your credit. That's right! By taking out a bad credit loan and repaying it in a timely manner, you can re- build your credit by establishing a positive credit and payment history. A bad credit loan from can help you in your search for emergency funds and also can help re-establish your credit rating.