How can I get a personal loan when I have poor credit?

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asked Dec 18, 2017 in Other-Finance by B baker (180 points)
How can I get a personal loan when I have poor credit?

I need a personal loan but my credit rating is poor and not that good. Is there somewhere I can get approved for a personal loan with my poor credit rating?

1 Answer

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answered Dec 18, 2017 by Jodie (8,680 points)
Since you have poor credit it will be hard for you to get a loan that is unsecured without any collateral.

You might be able to get a secured personal loan where you put up some form of collateral so that the bank or lending company has something of value to repossess from you in the event you default on the loan.

You might be able to put up a car, house or other property etc to secure the loan if you have bad credit.

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