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Help! I Need A Loan But My Credit Is Bad

By Edited Jun 7, 2015 0 0

Guaranteed Loans For People With Bad Credit

Even though you have bad credit, you can get a guaranteed personal loan to take care of your emergency cash needs.  In this 2012 economy, we are still seeing a great deal of under employment and unemployment.  The unemployment figures have gone down to just over 8 percent which as a great deal better than the 10 percent it was just a year and a half before, however the nation still has a long way to go in order to help Americans secure good paying, steady jobs. 

While you are looking for ways to get by by living frugally, you may have to take out an emergency cash loan to help you make ends meet. 

 

Can I Get An Emergency Cash Loan With Bad Credit?

Yes!  At least 20 percent of all Americans have bad credit or credit below 600, so you are not alone.  Many people had no control over the circumstances that cause their bad credit situation and many subprime lenders realize this.  These subprime lenders also realize that 20 percent of the population is very hard to ignore especially since many of these borrowers can and do pay back their debts.  So yes, these sub prime lenders are your best bet for borrowing money if you have bad credit.

 

Other Options For Getting Money When You Have Bad Credit

Settlement Lump Sum Cash Money

If you have a structured settlement from a life insurance payout, a lawsuit or medical negligence lawsuit and need cash right away, you can get a lump sum cash settlement from companies like JG Wentworth or Peachtree settlement funding company.  This money is yours but instead of getting monthly annuity payouts for a pre-determined period of years, you get most of the cash now.  The settlement company takes a fee for help you get your money faster.

 

Pre-Settlement Lending

If you are in the process of a lawsuit for an accident, wrongful death, auto accident, worker's compensation or virtually any lawsuit and expect that you will get a settlement in your favor, you can get an emergency loan against those pre-settlement funds.  You will have to contact the companies directly to assess your case and give you more precise numbers. To learn more about pre-settlement lending: Press Here.

 

Car Title Loans

If you have a car, you can get a loan against the title.  You should own the car and have the title handy in order for the car title lender help you get the emergency cash you need.  If you have an accident and your car is totaled, the car title loan company gets their payment for whatever is left on the loan before you get anything from the car insurance company for your totaled car.

 

Lien Against Other Property

If you have other property such as a home, or a boat, you can also get a loan against these properties.  A lien will be placed against your collateral (property) and it can be in jeopardy if you do not pay your loan back. 

 

I Owe You To Family Members

Family and friends still remain the fastest and most guaranteed source to get money or a loan with bad credit or no credit check. Although it is the easiest way to get the money you need without a credit check, you have the most to lose if you are not able to pay the loan back or decide not to pay the loan back for whatever reason.  Sometimes it may be better to look at other sources of emergency cash lending before you go to family especially if you know not paying them back could cause serious problems.

 

Borrow From Life Insurance or 401k

You can often take out a loan from your life insurance coverage and also your 401k savings account if you have these items.  Not many people know that these are sources of emergency cash or that you can borrow from them when you need money in a hurry.  However, the credit requirements on these financial sources are usually more relaxed and can provide you with the extra cash you need.

 

Visit A Pawn Shop

Do you have an expensive item that you can get the amount of money you need? Pawn shops work almost like other loans with liens against it, only you don't even need to give any credit information. You will have to give personal information about yourself and the property just so they can make sure the property isn't stolen before they give you a loan against it or pawn it.  However, pawning an item is a no hassle way to get money when you really need it.  As long as you pay back the amount loaned to you in the time specified, you should be able to get your item back

 

Use Buy Now Pay Later Catalogs To Get Items You Need

If you need clothing or household items, you can use the buy now pay later option to get your purchase without hassle. Buy now pay later catalogs allow you to purchase items without a credit check.  Your credit limit increases as you prove yourself to be a valued consumer.

 

Other Options For Getting Emergency Financial Help With Bad Credit

Government Grants

You can get government assistance to help you during your times of need so credit is not an issue.  Apply for government grants to get help with bills. These government grants are funds that you DO NOT have to pay back so take advantage of whatever help the government has to give you.

211 Assistance

Dial 211 from your telephone to see if you have access to this service in your area.  If you are looking for emergency cash to help you pay your rent or buy food, you can see if you can get help from local human services organizations and charities instead. If you call 211 on your telephone and do not get anything, then go to 211.org to see if your area is covered.

Churches and Religious Organizations

Religious organizations are beginning to take a more proactive role in helping members of their communities financially. 

 

If you are unemployed and really need financial help, you should look to the government grants, churches or 211.org, and settlement funding sources  to try and get help.  Taking out a personal loan even though you may be able to get a personal loan for people with bad credit is not such a good idea when you don't have a steady stream of income.  Wait until you get a job before you take out a bad credit personal loan.

Books To Help You Get Loans Even If You Have Bad Credit

You can get these books on obtaining a personal, auto, business loan even with bad credit from Amazon. Many of them available immediately on Kindle.

How To Buy a Car: When You Have Bad Credit or No Credit At All
How to Get a Business Loan With Bad Credit
Get Credit Help For Bad Credit Repair Plus Tips on How To Get Loans With Bad Credit So You Can Rebuild
Home Loans For People With Bad Credit
NO CREDIT CHECK LOANS: And other Options for People with Bad Credit
Quick Payday Loans - How-To Series (Part 4) - "Payday Loans: Why They Are Bad and How-To Make The Best of Them!"

 

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