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How to Get a Quick Bad Credit Loan

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In a perfect world, you would have no debt and never need to take out a quick bad credit loan, but we don’t live in a perfect world. That means sometimes you need money quickly to take care of an emergency or to consolidate debt. If that’s the case for you, read on.

Where to Get a Quick Bad Credit Loan

Whether your credit is good, just okay, or even bad, that doesn’t mean you don’t have emergencies or unexpected bills to pay. It also doesn’t mean that you don’t have debts you’d like to consolidate to free up money every month.

If you find yourself needing a loan quickly, then you should consider an unsecured personal loan.

What is an Unsecured Personal Loan?

An unsecured personal loan is a loan that is based on your work history and yes to some extent your credit score. That doesn’t mean you need an amazing credit score, but it is one thing they do look at.

The truth is, most people can be approved for a personal loan.

Personal loans have longer terms, up to three years to repay the money, and the interest rates start at around 5.99%. That’s why they work so well to consolidate debt as the interest rates on many credit cards are much higher.

Bonus Tip: Don’t confuse a personal loan with a payday loan or title loan. Stay away from both of those!

They can have interest rates as high as 1000%. If you take out one of these types of loans, you’ll only end up in a worse situation.
Where to Find Personal Loans for Good and Bad Credit

One source I like for personal loans is GuidetoLenders. They offer the following:

  • Lower interest rates
  • Loans from $1,000 to $40,000
  • Multiple loan offers in just minutes
  • Same-day approval
  • Money in your bank account within a day

This company is really easy to work with and the whole process is completed online. That means you can get your quick bad credit loan in the privacy of your home.

If you have any issues with being approved by them, another choice if your credit is truly bad is OppLoans. They have lending options for even really bad credit.

I would suggest, however, that you try GuidetoLenders first. If that doesn’t work for you, then try OppLoans.

What’s great about OppLoans is that applying does not hurt your credit.

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What Can You Use a Personal Loan For?

What’s great about personal loans is that you can use them for anything you’d like. Chances are you already have a reason that you’re looking for a loan, but it’s important to know that you can use these types of loans for any need that might arise.

Some of the most common uses for personal loans are the following:

  • Debt consolidation
  • Medical expenses
  • Paying federal/state taxes
  • Emergency expenses
  • Home improvements

Just make sure you have a good reason to take out a personal loan. You want to use this type of loan in a way that will help improve your financial situation and not make it worse.

That means you should skip the super expensive new toy or wedding dress and save your money instead of taking out a loan to buy it. Instead, use the money to pay off other debt.

For example, if you owe taxes to the federal government that you can’t pay in time, a personal loan is a much better idea than owing money to the IRS which will add penalties and fees every day.

The same goes for medical expenses. If you have a doctor or hospital bills, those will be sold to a collection agency very quickly for pennies on the dollar. That means you’ll start receiving phone calls from bill collectors and your credit score will take a serious hit.

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So, if you find yourself in a situation where a personal loan can help you financially, it’s a good option, and if you’re looking for a quick bad credit loan, then Smartloan.com, Even Financial, or OppLoans might be able to help.

Take a minute, right now, to head over to one of these companies and see if they can help you today.

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