If you are fortunate enough to have set aside money in your 401(K), there are some emergency expenses that may qualify for withdrawal. If you are under 59 and make this withdrawal, you could expect a 10% penalty. Check with your employer before taking this step and it may take a call to your accountant or the IRS to investigate your options. We have listed bad credit loan and personal loan options for your review based on your credit score. If your credit is below 580, you can expect the maximum you can borrow without some form of collateral is $5,000. The personal loan providers accept loan applications starting with a 620 credit score. We have listed secure credit cards; unsecured credit cards for damaged credit; secured loan providers; auto refinancing options; free credit rebuilding services; payday loan repayment loan providers; co-signing loan service; student loan refinance, reverse mortgage funding, and business loans options as low as a 500 credit score. When you have bad credit, there is no funding solution that we consider a good option. We have provided what we consider are the best choices in a difficult situation. If you can wait and repair your credit first, that is our first recommendation. If we have not provided a loan option that fits your needs, please email us at email@example.com and we will do our best to find a funding solution for you.
Bad Credit Loan Options
Bad credit Loan options ranging from $500 to $5,000 and any credit score can apply.
An unsecured personal loan is a great solution if your credit score and credit history meet the criteria of the lender. We have listed personal loan providers with credit scores starting at 620. This lender group offers loans ranging from $2,000 to $100,000.
Secured Credit Cards
- No Credit History or Minimum Credit Score Required for Approval
- Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
- Credit Line Secured by Your Fully-Refundable Deposit of $200 -- $2,000 Submitted with Application
- Nationwide Program though not yet available in NY, IA, AR, or WI
Unsecured Credit Cards
Get the security and convenience of a full-featured, unsecured VISA® Credit Card – accepted at millions of merchant and ATM locations nationwide and online.
- Checking Account Required
- Reporting monthly to all three major credit reporting agencies
- Perfect credit not required for approval; First Access may approve you when others won’t
- Easy and secure online application
- If approved, pay a Program Fee and you can access the $300 credit limit (subject to available credit)
- The First Access Visa Card is issued by The Bank of Missouri pursuant to a license from Visa U.S.A. Inc.
Home Equity Loan or Home Equity Line of Credit (HELOC)
A home equity loan or home equity line of credit (HELOC) can be a good way to consolidate debt even with bad credit. When you have good credit and the bank looks to provide a home equity loan or HELOC, they will normally finance the property up to 80-90% of the loan to value. The loan to value is the difference between the size of the mortgage and what you will get if you sold the property. With bad or fair credit, the loan to value may drop to as low as 60 to 70% and the interest rates may be higher. This will mean that the amount they are willing to lend will be lower.
Auto refinance can be a great way to get capital out of an asset and use this money for debt consolidation. This provider can refinance your vehicle and get your capital back to work.
Free Credit Score Repair
By using the Novita program, you will receive reminders to make all payments on time.
Payday Bad Credit Debt Consolidation Loan: $500 to $5,000
Consolidating payday loans with 400% to 1500% interest rates is very difficult to accomplish. OppLoans offer an installment loan which provides equal payments over a set period of time to get rid of payday loans that never seem to go away.
Payday Alternative Loans (PAL's)
The Credit Union along with the US Federal Government have developed a program called PAL's to help people stuck in revolving payday loans.
Loan amounts $200 to $1,000.
Must be a credit union member for one month
Loan terms range from 1 to 6 months
There may be a fee for setting up the application of $20.00
Contact this link to get some help.
Co-Signing or Joint Signing
We have listed a lender that specialized in co-signing with funds up to $40,000. If you are looking at a co-signer, we have a link that talks about the pros and cons of co-signing.
Student Loan Refinancing
We have listed the best student loan refinancing providers in the USA that will work with co-signing. Most students have not had the time to establish their credit score. This is considered no credit history vs. calling it bad credit. The results are the same for the person applying, the lenders will not consider offering you a loan.
A reverse mortgage is another way to access the capital for debt consolidation from your home or property. This product is best suited for retired people that want to start taking equity from their property. Before you take this step, LendingTree will provide you information on the steps.
Reverse Mortgage Options
Business Loan Refinancing
We have added a number of business loan providers that will look at a debt consolidation loan with credit scores starting at 500. Some conditions apply including the time in business and gross annual revenues.
Research your Credit Score and Credit History
If you have not completed this already, it is a good idea to check your credit score and credit history. Look through the items and make sure you agree with everything listed on the report. If you disagree with the information on the report, contact the credit bureau and let them know that there is an error.
Debt Relief or Debt Settlement
Another option to consider debt relief or debt settlement. They can help you work with creditors and will explain your options. You can call them at the number below or click this link to go to their site now.
Loan Case Study
Sheila contacted America Loan Service looking for a $16,000 loan as fast as possible to pay off credit cards that will go into collections if they are not paid off. Sheila was talking with the hardship department at the credit card companies requesting that they restructure her payments. Sheila does not want the credit card provider to send her account to collections and damage her credit history even more. If you are struggling with making your payments with your credit card company, ask for the hardship department and see if your credit card provider can help you work through a rough period. You will need to be able to make a consistent payment and stop using the credit card.
Sheila just applied for a 3,000.00 Bad Credit high-risk loan and was approved with a 515 credit score
Sheila has worked hard over this past year to improve her credit score that was at 446 only 18 months ago. It has been a lot of work for her to even get a small loan with her credit in its current state. She also got a better job in the same company that increased her take-home pay to $18.00/hour.
Sheila made an effort to obtain a fast secured loan for $135,000.00 last year but was declinedPrinciple of LoanLength of Term (Years)Interest Rate (APR)Monthly Installment PaymentLending Institution
|$135260.00||4||10.4%||$3456.58||Wesbanco Bank Sistersville|
|$135440.00||5||5.3%||$2574.58||Wesbanco Bank, Inc.|
|$134900.00||7||7.7%||$2082.47||Peoples State Bank, National Association|
$16000.00 Personal Loan - Franklin, West Virginia
Applying for loans frequently lowers clients credit scores. When accepted, individuals experience alterations to their credit. Sheila experienced numerous variations to their credit over the course of the acceptance of this $16000 fast loan. Sheila had a starting credit score of 446.
- When it comes to Equifax, Sheila possessed an initial credit score of 446, thus Sheila has a bad credit score
- Sheila had a score on the Transunion rating system of 442, which is considered bad credit
- When it comes to Experian, Sheila possessed an initial credit score of 460, and so Sheila has a bad credit rating
Sheila acquired this fast loan from Pendleton Community Bank, Inc., a bank from West Virginia
- Pendleton Community Bank, Inc.
- Street Address: 300 North Main Street
- Branch city: Franklin
- Branch state: West Virginia
- Branch zip code: 26807
Sheila has an Equifax score of 446. This is a bad credit score
Sheila has a Transunion score of 442. This is a bad credit score. Credit ratings like that of Sheila influence lender's opinion
Sheila has an Experian score of 460. This is a bad credit score. If your score is bad like Sheila, it will not affect your odds of finding a loan
Sheila, an individual from Franklin, originally asked about a loan of $16000.
Hi There, I'm looking for a loan for $16,000 to pay off some credit cards. I am only making the interest payment now and the credit card company is threatening me to take me to collections. I missed a few payments. I'm stuck. Wondering f you can help me? Is there a hardship loan that I could apply for somewhere? I have a new job and doing really well now. Keep me posted if there are any fast loans near to me in Franklin, West Virginia, We can use our house for security or get a co-signer if we have too.
- County: Pendleton
- Home State: West Virginia
- Current zip code: 26811
- Current income: Undisclosed
- Profession: dietetic technician
- Credit Card Debt: $1000 on their RewardsRunner Visa Prepaid Card
Delinquent in paying American Express payments?
Longterm illness causing financial hardship so that credit card issuers are sending your account to collections? An individual can look into a debt settlement plan or hire a debt settlement representative. The debt settlement officer will propose that you stop spending on the credit card that is in default. As well, if purchases are from high ticket items the banks will not assist if they assume the couple is manipulating financial obligations. A person has to show that the couple is really having financial difficulty.
While the articles described are true, the names and some cities have been changed to protect our followers. America Loan Service would value your comments concerning our website. Please do not give America Loan Service your last name and try to keep the information in your comments quite general. It is the overall subject that people relate with and they appreciate your comments. When you send your comments, they will be reviewed within 24 hours and you will be notified if they are used.