So you need a loan and you have bad credit. You are in good company. Actually you are in incredible company because a recent survey said that over 7 million people last year needed a loan and they had a credit score BELOW 450!
So your credit file looks like a train wreck. Garnishments, collection accounts, judgements, past dues, late payments. I get it.
So here are the options short and sweet. There is a loan for you. This article will discuss the possible choices depending on your situation BUT if you have a combination problem, the harder it will get. Meaning if want a loan for bad credit and you have no income that is a lot harder to do.
“The credit tier”
TOP TIER CREDIT – Good to exceptional credit
- Credit Unions
- Cash off credit cards
MIDDLE TIER CREDIT – Not so bad but no so good
- Installment Loans
- Signature loans
- Student Loan
- Home equity loan
LOW END TIER CREDIT – Bad to horrible yet some redeeming hope in there
- Title Loans
- Sovereign lending
OH MY LORD SHOOT MYSELF CREDIT – Credit so bad you are lucky they don’t have credit jails anymore
- Pawn shops
- Auto Pawn
- Payday Loans
- Family or Friends
- Sell a kidney
- Loan Shark off Craigslist
- Sell your stuff on Ebay
- Get a loan from your employer if you have a job of course