A high debt, making late payments, or declaring bankruptcy, are a few of the many things that can mess up your credit. Sometimes you try to maintain an excellent credit score however you have to deal with life; kids need dental work or a vehicle accident occurs which makes your credit flawed. With a poor credit history, you very likely will have a hard time getting any loan or a decent rate of interest on a loan. If you have bad credit and desperately need a loan, how can you get one?

You should start by determining exactly what kind of loan you are looking for, as some loans are much easier to get than other loans. For instance, if you wanted to buy a home and need a mortgage, it would be more beneficial compared to getting a personal loan. There are some mortgage lenders who will supply your needs, even though your credit is not good. A school loan is easier to get approved for because the bank counts on you being more able to pay back your loan after you have finished your education. Paying back this loan type is easy because it lasts for a long time, so you don't pay much monthly. If the bank won't approve your auto loan, the world is not ending; a lot of car places will finance you when you buy a new vehicle so you can apply for that.

If the loans suggested here are not for you, you can always try something different. Look beyond the main banks at first; there are lots of small banks that may consider a loaning to you, even private lenders are an option. With a private lender, you are more likely to get your money quicker, but you will have to pay a higher interest rate. Maybe you can get a co-signer to get a high risk loan. This is usually a family member or close personal friend with an outstanding credit history. When you get someone to co-sign for you, it improves your chances of getting the loan and also of getting a better rate than you could by yourself. If you have other investments, properties or any other type of collateral, you can sometimes use that as leverage to get the bank to lend you the money you are after. It gives more information about your ability to deal with money responsibly and your likelihood of repaying. When your credit is bad it may be difficult to obtain a loan but you can do it by being wise.