Have you ever had to rely on bad credit loans to get through the month? Life’s unexpected expenses have a nasty way of sneaking up on us and striking at the worst possible time. In today’s economy, not many Americans can afford to save money to prepare for emergencies. But why is that? Well, many Americans can barely afford to pay for everything they need, with over 65% living from paycheck to paycheck. Temporary financial issues can be saved with bad credit loans! What do you do when an emergency crops up and you don’t have the financial means to cover it, especially if your credit isn’t picture-perfect? Bad credit loans are the beacon of hope you’ve been searching for, and they’re incredibly easy to apply for. In fact, you complete the entire application process online in 5 minutes or less.
In this overview, we cover what bad credit loans are, how they work, what they cost, the pros and cons, and how to apply for them.
What Are Bad Credit Loans?
Bad credit loans are personal loans that are paid back in small, manageable installments over a period of up to 24 months. Personal loans bad credit are quick, easy, and convenient to apply for and have quite a high approval rate. There are many different ways to acquire personal loans bad credit, with one of the easiest methods being applying online through a loan finder service such as Big Buck Loans.
How Do Personal Loans For Bad Credit Work?
Bad credit personal loans can be used for anything at all, no matter what it is you wish to apply for. But applying for bad credit personal loans isn’t as hard as you may think. When you apply through a loan finder service, such as Big Buck Loans, you can choose how much you’ll be borrowing and for how long. This flexibility means that bad credit personal loans can be tailored to suit any loan need, regardless of how little or how much someone may need.
How Much Do Personal Loans For Bad Credit Cost?
Loans for bad credit are provided by lenders who take other factors, such as an applicant’s monthly income-to-expense ratio, into account when determining whether or not they will be a reliable lender. But by using factors other than credit, the loans for bad credit are riskier for the lender than a traditional loan would be. This is why when you apply for, you can expect to be charged an interest rate of 5.99% to 35.99%.
However, we know this doesn’t quite answer the question of how much quick loans for bad credit cost, so here is an example:
Personal Loans For Bad Credit – Key Features
When applying for personal loans for bad credit online, you can expect them to share the following key features:
Speedy Payouts on Bad Credit Loans
When you decide to apply for quick loans for bad credit, you are usually looking for an emergency cash fix in a hurry. It may come as good news to know that quick loans for bad credit typically payout within 24 hours of your application being successful. Some lucky applicants may even receive their money within 60 minutes of successful application.
Low-Income Earners Welcome to Apply for Bad Credit Loans
If you don’t earn very much each month, chances are good that you need quick loans for bad credit more than anyone else. But applying for a loan seems impossible if you don’t earn very much. Luckily Big Buck Loans has quick loans for bad credit options available to all individuals who earn a minimum of $250 per week or $1000 per month.
Customizable Loan Terms for Bad Credit Loans
One of the worst parts of applying for traditional bank loans is having almost no say in how much you’ll be borrowing or for how long. When you apply, you are given a ballpark estimate, and often times when you are approved, you get an amount you’re not satisfied with. However, when you apply for quick loans for bad credit on Big Buck Loans, you can not only choose how much you’ll be borrowing but for how long as well.
Personal Loans For Bad Credit – Advantages And Disadvantages
Nothing in this life of ours is ever picture perfect, and with every good thing, there is usually a bit of bad with the good – it’s best to be aware of the good and the bad. Here are the advantages and disadvantages of quick loans for bad credit:
Advantages of Small Loans for Bad Credit
Quick Payouts on Bad Credit Loans
The best loans for bad credit are the ones that pay out in a short amount of time. After all, no one wants to wait around for days to receive the money they desperately need. When you apply for quick loans for bad credit on Big Buck Loans, you can expect to be paid out within 60 minutes of your application being successful.
Simple Application for Loans for Bad Credit
One of the reasons why Big Buck Loans has the best loans for bad credit is because their application process is incredibly simple, and so is the application form. You will only need your basic personal details and about 5 minutes to fill out the application form. Then, after you’ve completed the application form and submitted it, you’ll move on to the lender’s website if you have been approved.
Flexible Loan Amounts on Bad Credit Loans
On Big Buck Loans, you can choose to borrow between $100 and $5000 at a time. This means you have complete control over how much you’ll receive, and you’ll be able to cover whatever it is you need.
Customizable Repayment Periods on Bad Credit Loans
If you don’t want to pay off small loans for bad credit forever, don’t worry, as Big Buck Loans allows you to choose your own repayment period. For example, you can choose to pay off your loan over a period of 2 to 24 months.
Disadvantages of Small Loans for Bad Credit
High-Interest Rates on Small Loans for Bad Credit
When you apply for loans with bad credit, you will need to find a lender who will look past your credit history. Lenders who don’t consider credit as the main eligibility factor put themselves at higher risk when giving applicants with poor credit histories loans. This is why you can expect to be charged 5.99% to 35.99%
Am I Eligible For Personal Loans For Bad Credit? Information Required To Apply
To apply for loans with bad credit, you will need to meet the following eligibility criteria:
- You should be 18 years old+
- You need to earn $1000+ per month
- You need to be a US citizen or permanent resident
- You need an active US bank account and mobile phone
- You need all your supporting documents such as a copy of your ID, proof of address, latest 3 months’ bank statements, and your latest 3 pay slips (if applicable)
How To Apply Personal Loans For Bad Credit
Applying for bad credit loans is incredibly easy, and you can download the app to do so. Once you’re on the mobile app, you will need to follow these 4 easy steps:
Step 1: Choose Your Loan Amount and Repayment Term
To start your application, you will need to select the amount you would like to borrow and the repayment period that would best suit your needs. You can borrow between $100 and $5000 and choose a repayment period of 2 to 24 months.
Step 2: Complete the Application Form
Next, you will need to fill out the application form. To do so, you will need to enter your personal details, such as your date of birth, full name, residential address, monthly income, and contact details. Once the application form is complete, you can click submit.
Step 3: Get an Answer
After your application has been submitted, it will be reviewed, and you will receive an answer in 2 minutes or less. Then, you may move on to the final step if your application has been approved.
Step 4: Finalize Your Loan with The Lender
Lastly, you will be prompted to finalize your loan directly with the lender on their website. You may be asked to provide more information or send supporting documents. You will then receive a contract to read and sign, and once you’ve sent the lender the signed contract, you can expect to be paid within 24 hours.
Bad Credit Loans Alternatives
Bad Credit Payday Loans with Vivapaydayloans.com
Payday loans from Viva Payday Loans are an excellent alternative for small personal loans for bad credit. They are easy to apply for and can be used to pay for anything at all. Applicants with low FICO scores are more than welc0me to apply for a payday loan of $100 to $5000 with a repayment period of 2 to 24 months on Viva Payday Loans. Payday loans can often come attached with interest rates as high as 200%, but Viva Payday Loans limits the amount of interest lenders can charge to a maximum of 35.99%.
Bad Credit Personal Loans with Vivapaydayloans.com
If a payday loan isn’t quite what you’re looking for, don’t worry, as Viva Payday Loans has personal loans to choose from too. Personal loans on Viva Payday Loans are hassle-free to acquire, and you can apply for one entirely online in 10 minutes or less. Viva Payday Loans offers personal loans of $100 to $5000, with a repayment period of 2 to 24 months and an interest rate of 5.99% to 35.99%.
FAQ’s
Who Can Apply for Bad Credit Personal Loans Guaranteed Approval?
Applications for bad credit personal loans guaranteed approval are open to anyone and everyone. However, there are still a few eligibility requirements you will have to meet in order for your application to be successful. These requirements include: being over 18 years old, a legal US citizen or permanent resident, have an active US bank account that can accept direct deposits, have an active US mobile number, a healthy income-to-debt ratio, a US social security number, a valid form of ID and your contact details.
Can Small Personal Loans for Bad Credit Improve My Credit?
Small personal loans for bad credit can be just as good for your credit as a traditional bank loan. If you were to pay every installment of your small personal loans for bad credit on time and when it is due, you can expect to receive a few positive points on your credit record. However, the opposite can also be true, and there is one way that small personal loans for bad credit could harm your credit score. If you were to miss any of your installments or pay an installment after it is due, you might receive a few negative points on your credit record. The lender may also charge you penalty fees or late fees as a way of regaining the interest they lost due to your missed payment.
Why Was My Bad Credit Loans Guaranteed Approval Application Rejected?
There are not many reasons why an application for bad credit loans guaranteed approval might be rejected, but there are still a few. For example, your application for bad credit loans guaranteed approval might be rejected if A.) You don’t earn enough. You need to earn a minimum of $1000 per month in order to apply for bad credit loans guaranteed approval, or B.) you are applying for a 2nd bad credit loans guaranteed approval too soon after paying off your first. If you are still not sure why your application has been denied, you can contact the service you are using and fill out an inquiry.
Where Can I Find Bad Credit Loans Near Me?
Bad credit loans near me are available in every US state, both in-person and online. The easiest way to find bad credit loans near me lenders that are reliable, trustworthy, and well-reputed would be to use a loan finder service such as Big Buck Loans. Services such as Big Buck Loans work with the best possible lenders to ensure you are always in good hands.
What Do I Need to Get Approved for Loans for Bad Credit Online?
In order for your loans for bad credit online application to be considered for approval, you will need to meet the following requirements be 18+ years old, a legal US citizen or permanent resident, have an active US bank account that can receive direct deposits, have an active US mobile number, a healthy income-to-monthly expenses ratio, a US social security number, a valid form of ID and your contact details.
Are Loans for People with Bad Credit Available to Everyone?
Loans for people with bad credit are available to any US citizen or permanent resident who is 18 years old+ and has earned $1000+ every month for at least 3 consecutive months. All applicants, however, will need to meet the eligibility requirements (18+ years old, legal US citizen or permanent resident, active US bank account that can receive direct deposits, an active US mobile number, a healthy income-to-monthly expenses ratio, a US social security number, a valid form of ID) and have all their supporting documents (a copy of their ID, proof of address (usually a utility bill), latest 3 months’ bank statements, and their latest 3 pay slips (if applicable).
Can I Get Personal Loans with Bad Credit?
If your credit score isn’t ideal and you find yourself struggling to apply for a loan, you are more than welcome to apply for personal loans with bad credit on Big Buck Loans. Big Buck Loans works closely with lenders who consider factors other than the applicant’s credit history when considering them for a loan. They consider other factors, such as the applicant’s monthly income and their monthly expenses-to-income ratio, to determine whether or not they would be a reliable lender.
Can Pensioners Get Urgent Loans for Bad Credit?
Anyone who is a minimum of 18 years old can apply for urgent loans for bad credit. That includes individuals who are over the age of 65 who are either still working or are receiving a private or government pension. As long as the applicant meets all the eligibility requirements and is able to prove they consistently receive $1000+ each month, there is no reason why their application should be rejected.
Are Online Loans for Bad Credit Hard to Get?
Online loans for bad credit are incredibly easy to apply for and offer a high approval rate. Loan finder services such as Big Buck Loans work with lenders who make it easy and convenient for individuals to apply for online loans for bad credit.
Can Unemployed Individuals Apply for Bad Credit Loans Online?
If you are unemployed or earn your income in a non-traditional way, you can still apply for bad credit loans online. If you meet all the eligibility criteria and have all your supporting documents, including proof that you receive a minimum of $1000 per month, there is no reason why your application for bad credit loans online should be declined.