There comes a time in almost everybody’s life where we need more money than what we have. It doesn’t matter whether that is for a vacation or a hospital bill, we often simply do not have the cash. If you then also have bad credit, it may seem like there are no options available to you. However, below are 10 ideas that you may want to consider.


10 Options for People with Bad Credit

  1. Payday loans. These are also known as ‘brief succession loans’, because you only have the loan for a few weeks or up to a month. Eligibility criteria are very relaxed and anyone who is over 18 and employed in this country can apply and is likely to be accepted.

  2. Quick term sequence financial loans. This is also known as an installment loans. This means that you can lend slightly more than with a payday loan and that you pay it back over a slightly longer period of time, usually a few months. Get installment loans online at

  3. Secured loans. In this case, you secure your loan against a piece of property, usually your home. These loans allow for larger amounts and are paid back over many years.

  4. Unsecured bank loans. These are the hardest of all to get, but they are not impossible. You can expect to pay a very high interest rate, however.

  5. Log book loans. This is a type of short term loan that is secured against the title deed of your vehicle. You can continue to use your car while the loan is outstanding, but if you don’t pay your loan back, your car will be repossessed very quickly.

  6. Individual loans, which are becoming more popular. Essentially, you ask individual people to finance your loan. These people can found on various online forums. It is a risky venture, and you must be aware of that.

  7. Mortgage loans. If you have a current mortgage, you could ask your lender to increase your overall balance so that you can lend from them.

  8. Training bank loans. These types of loans are only provided to students and are designed to help you pay for college.

  9. Consolidation loans. In this case, you don’t actually borrow any money that is put into your hands. Rather, you consolidate all your debts into one loan that tends to offer far better payment options. This means you have more money left to spend.

  10. Credit cards. In this case, you can borrow as much money as is your credit limit. You pay it back over time, having to make minimum payments.

There are other options out there as well. For instance, you could speak to family and friends. You could even try crowdfunding if whatever it is that you need money for is something you feel other people might like to invest in. Now that the real burden of the economic crisis is behind us, it is becoming easier to borrow money again, even if you do have bad credit.