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3 Solutions for When You Need Money Now but Have Bad Credit

When you have credit problems, it can be difficult to make progress with your finances, even if you are trying to make better choices with your money. Any unexpected financial crisis could set you back to where you started before you made any progress.

Additionally, having poor credit can limit your ability to take advantage of new opportunities, especially when it comes to loans, as most lenders require good to excellent credit scores.

To give you an idea of what is considered a good credit score, a FICO credit score of 670 or higher is considered good, while a score of 740 or higher is very good, and a score of 800 or higher is excellent. If your credit score falls between 500-600, your options for getting emergency funds will be limited.

To tackle this situation, you may want to consider looking into loans that are specifically designed for people with bad or no credit. This will help you find more flexible lending options that suit your financial situation.

Loan Options for People with Bad Credit

Man looking at past due bill.

We need to deliver a dose of reality. If your credit score is low, you could be immediately turned down for a lot of personal loans. Most banks and credit unions will seek a good credit score (as defined above) to approve lending you money. So, where can you turn when you need money and traditional sources are unavailable?

There are several ways to get money fast, even if you don’t have great credit.

Pawn or Sell Items You Don’t Need Anymore

Instead of getting a loan that you’ll have to pay back, consider selling things you don’t need or want.

Smaller items like clothing, shoes, and jewelry can add up quickly, but larger sales like designer handbags, phones, tablets, and furniture may give you all the money you need in one transaction.

You could even consider selling a second car to get extra cash. Not only will you get cash for a vehicle you don’t need, but you can also alleviate yourself of the insurance and maintenance for it.

Pawning is another option. By pawning an item, you have the option to buy it back as long as it has not sold. This is risky for items that you really don’t want to lose, and you will still owe interest even though it isn’t a typical loan.  

Get Community Assistance

Financial assistance comes in many forms, especially when it’s from a local source. Some of these options will accrue interest, and some won’t. Depending on the lender, you may not even be required to repay the loan.

Here are a few examples:

  • Churches and non-profits. These organizations offer a variety of donations, financial assistance, and low-interest loans based on individual needs.
  • Peer-to-peer lending. P2P lending will often approve borrowers that the bank won’t. Once you have built your credit back up, you can return the favor by lending money (and earn interest in the process).    
  • Private loan. Even a small loan from friends or family could protect your credit from being ruined in the future and your budget from being ripped apart in the present.

·        Simple Fast Loans personal loans. A loan from Simple Fast Loans can get you through a tough time without the hassle of other non-traditional loans. Approval is fast, and you don’t have to worry about bad credit holding you back from getting approved.

About Simple Fast Loans

There are several key features that you should know about Simple Fast Loans’ personal loans, starting with the fact that anyone is welcome to apply, regardless of credit history or current credit score.

Beyond that, there are many great reasons to choose Simple Fast Loans when you need money now:

  • Your personal information is stored securely
  • Apply for $200 to $3,000 (depending on where you live)
  • Loans are available in 27 states across the nation
  • There’s no waiting and worrying, thanks to same-day decisions
  • Next-day cash is usually available for loans that are processed before 2:00 PM
  • You’ll have short, manageable repayment terms and flexible repayment options
  • No collateral is required to secure a personal loan
  • Attentive customer service is available before and during your loan

Most importantly, Simple Fast Loans boasts a nearly perfect rating from over 5,000 reviewers on TrustPilot.

Getting an Online Personal Loan with Simple Fast Loans

Applying is easy with Simple Fast Loans. All you have to do is follow these three simple steps.

Fill Out the Online Form

To apply, you’ll need to give your name, address, and Social Security number. You will also need the following things:

  • Active checking account
  • Proof of identification
  • Proof of income
  • To be 18 years or older

All loans are processed online, but you may call the number on our website to contact a representative who can help you with any questions.

Get Your Decision Immediately

One of the best things about online personal loans is that you’ll have an answer right away. Everything can be done online, never requiring you to leave home.

You will be able to e-sign all your final documents on the website or via e-mail, and you will receive text message communication to let you know your loan agreement has been received.

Have Funds Deposited into Your Account                                                    

Once the paperwork is received, you’ll get another text to confirm the deposit has been made to your account. You can see your account details and make payments online at any time after this.

Uses for Personal Loans

Personal loans are here for you in times of dire need. They should never be used for trivial purposes. Here are a few of the reasons people apply for personal loans with Simple Fast Loans:

  • Medical expenses
  • Home repairs  
  • Major appliance replacement
  • Car repairs
  • Utilities or other time-sensitive expenses

Here’s How To Get Started

If you have bad credit or no credit but you need money now, Simple Fast Loans has you covered.

The process is simple, and you can get started from the comfort of your home.

To start, fill out the form at the top of our website to submit your information. You’ll receive your loan decision quickly, and then all that’s left is to electronically sign a few documents.

Just that fast, you could be approved for a loan that can help you cover medical expenses, take care of a family member, or relieve the stress of a pending car repair.  

About this blog

Browse through the Blog to read articles and tips on managing debt, improving your credit and saving more money!