How low your credit score is will determine the types of bad credit loans you are going to get
We have given you this list of marketplaces to find money lenders because we know they are credible and being their customer means being safe and satisfied with their money. For people who want to do their own research, that means you can still sign up and make accounts with these companies.
Different companies work with different lenders. And different lenders have different terms and conditions for their personal loans. We recommend signing up with a few different marketplaces and browsing through your options with each one of them.
Go through all the different lenders these marketplaces offer you and look through the terms of each one to find the ones that fit your needs the most. This will typically be the personal loans who are offering more specific personal loans that limit how you spend your money because the interest will be lower. Your end goal is to find a loan you can afford.
You might be able to afford different things. If you have recently come into some money or found a higher paying job than the one before and you are trying to work your credit score back to where it was with a personal loan, these are some good options.
Not everyone is going to be in that position. Some people might need money for their small business and their credit is not in the best shape, and you need to solve a problem immediately. That is 
also understandable. Somebody in this position is going to want to shop around for the lowest interest rate, and lock in what they can.
- Review your credit score and your options
- Budget your money and make a plan
- Determine if you can pay off this personal loan
- Decide if this company is credible enough to work with
The clear, easy step is to know exactly what your credit score is so you know what options you are working with. If you’re reading this buying guide and looking for help with bad credit loans especially made for people with bad credit, you probably have a low credit score. The world does not always have us in its favor, and big bills happen.
Someone who is barely under a score of 600 will still have options with bigger banks and other money lenders, they will just be a bit tighter on interest and monthly payments. However, they are still an option. Doing your debt consolidation loans with a bigger bank instead of smaller lenders is typically safer.
The second step is budgeting your money and making a plan on how to pay it back. You need this loan. That means you need to pay back the loan on time. We cannot speak to how much you make and what your rent is, but we can tell you to budget your money and map out how much you use so you know how much is available to pay your loan.
Having a bad credit score is not something to be ashamed of, but it is something to plan around
Once you know your budget, you know what you can afford to pay every month. This is the step where you go to each marketplace, submit your loan requests, and shop around. Check the terms of each loan. Look at the interest rates, the monthly payments. Can you afford this? Is this a doable option? If not, keep looking. If you do think it’s doable, move onto the last step.
