If you are looking to take out a 10000 personal loan with bad credit, then there are a few things that you are going to need to do in order to secure the loan. Unfortunately, lately banks and credit unions have become more strick in who they will to; however, don't let this get you down - you can still get 10000 loans with bad credit if you know what you are doing and how to go about getting the loan.
First of all, you need to know your options. With a 10000 loan you may find yourself in a slightly difficult position due to the amount that you want to borrow. This amount is too much for some specialized bad credit lenders (such as payday loan institutions), but there are still some who are willing to extend such loans. In addition, you can always (and should at least try) go to a bank or credit union for the loan.
Getting a 10000 Dollar Loan From a Bad Credit Lender:
This may be your most assured option if you have bad credit and need to borrow money, given that such lender's business models are based around lending capital to people with credit problems. However, this option is not recommended as your first option due to the higher fees and interest rates associated with such loans. There is no way around it - bad credit loans cost more, period. Interest rates are higher, origination fees are higher, and often times the will require you to pay back the loan much sooner than with traditional loans.
However, this also may be your only access to capital, and as such your only option. If this is the case then be sure to be smart - know what you are getting into, realize that the costs are higher, and make sure that you pay off the loan on time so you don't find yourself getting hit with even higher late fees. Finally, don't take out such loans often and use them only in times of absolute need.
Taking out 10000 Loans from Banks and Credit Unions:
This is your 'always recommended' option when it comes to such loans. The reason is simply that banks and credit unions will almost always give you the best interest rate for the loan. However, if your credit score is not above 700 (at least in the current conditions), it may be difficult to get such a loan. If this is the case, you should look to:
1. Fix your credit. No, this will probably not be a quick and easy fix, but it needs to be done no matter what.
2. Find someone who is willing to co-sign on the loan. This will allow the bank to extend you the loan, and give you a much better interest rate and lower total cost. In addition, this will effectively transform your 10000 personal loan for bad credit into a good credit loan.