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Bad Credit? Check out These Loan Options

  • 1 MIN READ|
  • 0 Comment |
  • 457 |
  • by Joseph Priebe|
  • June 12, 2013 |
  • Loans

Here's a list of bad credit loan options

It can be tough to cover your regular bills when unforeseen expenses arise. A short-term loan can make a big difference in helping you get by, but not all loans are created equal.

Banks, lending institutions and online cash advance sites offer different rates, loan amounts and repayment options, so it is important to consider your options carefully.

Payday loans allow borrowers to take small, short-term cash loans in return for a promise to repay them on the next payday. These cash advances are perfect for covering expenses between paychecks. They often do not require a traditional credit check, but proof of steady employment is required.

Personal installment loans allow you to stretch your payments over a period of time. Like payday loans, no FICO credit check is required. The rate of installment is dependent on the length you plan to take to repay the loan, so be sure to inquire about your repayment options.

Whatever type of loan you do choose, be sure to understand it thoroughly. Ask questions about repayment options and clarify the penalty for missed payments with your lender. The more questions you ask, the easier it is to find a loan that fits your needs.

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