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I Need Money Now! How to Get a Loan Fast

Are you in need of money today but have bad credit?

Taking out loans might seem nearly impossible when your credit score isn’t where it’s supposed to be. If you’ve found yourself saying, “I need money today,” but don’t have good enough credit to get the money you need, then you need to know how to get a loan with bad credit.

You’d be surprised by what options you have. Stop letting your credit score hold you back from accomplishing everything you need to get done. Continue reading below for our full guide on how to get a loan fast with bad credit!

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What Score Is a Bad Score?

First on our agenda is to discuss what bad credit actually is. When wanting to apply for a personal loan, a credit score of 580 or below is considered bad credit. With a credit score of 580 or below, getting approved for a personal loan isn’t in the cards for you.

The reason being? Those with poor credit scores are more likely to become delinquent on their payments. This is because if they already have a bad credit score, it’s safe to say that they have a habit of not paying bills on time.

Most lenders won’t even look your direction if your credit score is under 600. So, how do you get around this? One way is to work on building your credit up.

Building your credit up by paying off debt and paying bills on time is the best way to ensure you can get the loan you need. However, this is something that takes time. When you need money today, you’ll need to consider your other options.

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Start Getting Quotes Today

Start off by getting quotes today. There are lenders out there who are dedicated to helping those with bad credit scores acquire loans. Call around or visit websites to get quotes from these lenders.

These lenders are even willing to work with you if your score is below 550! There are also steps that you can take to complete a pre-approval to see if you qualify before completing a full application and having a credit check run on you. Some factors that will determine your loan amount are how much income you have and how long the term for the loan is.

You’ll want to see what’s out there and who can offer you what. Be sure to select a lender with the lowest interest rate, and if it helps, the one who offers the longest term, which will help lower the payment due each month.

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Find a Cosigner

If your credit score is so bad that you can’t rely on your own credit to get you a loan, then consider finding a cosigner. If you can find someone who has full trust in you to be responsible for the payments, then you should have no problem getting a loan that you need.

A co-signer is someone who has good credit of their own and places their name on your loan stating that he or she will take full responsibility for the payments if you fail to pay. They’re basically putting their tails on the line for you. Finding someone to do this for you might be difficult, especially if you’re someone known for being late on payments, but it’s still worth a shot.

If the lender you’re working with doesn’t accept co-signing, then you should ask the lender if they’d take your spouse’s income into consideration for the application. Some lenders will, and this gives you a better chance of getting approved.

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Consider an Installment Loan

Installment loans can be used for several different things. These bad credit loans work well for making big purchases, paying off debt, or even paying other bills. With an installment loan, you have two different options: a secured loan or an unsecured loan.

Approval for these loans is, in many cases, quick and simple. If you have everything you need to qualify for one, you could be walking out with the cash you need that same day!

Consider a Secured Loan

A secured loan will need some type of collateral from you. Using collateral to obtain this loan is why the loan is considered “secured.” Collateral can be a car, house, or anything else that you own.

These loans have a fixed interest rate and can have a term as long as 18 months.

Consider an Unsecured Loan

An unsecured loan is a loan that doesn’t require the use of collateral for you to be approved. Unsecured loans also have a fixed interest rate and terms as long as 18 months. There are some requirements that need to be met, however.

Both loans whether secured or unsecured require you to be at least 18 years of age, an active bank account, proof of consistent income (paystubs for example), and an active mobile device or cell phone that you can be contacted on.

I Need Money Today!

If you find yourself saying, “I need money today,” between paychecks, then it’s essential that you understand your options for obtaining loans with bad credit. You never know when you might find yourself in a financial struggle or emergency. Don’t let a bad credit score put a damper on your life.

Follow these simple tips listed above to get the money that you need now!

If you found this post interesting and helpful, then you’ll enjoy some of our other posts as well. Continue to check back regularly for more!


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