| Have you been faced with a situation where your bad | | | | The downside of payday loans is that they are over a |
| credit rating has been constantly affecting you? You | | | | very short period. This means if you need access to |
| might have applied for a mortgage loan or even a car | | | | cash, but can't afford to pay it back within 2-4 weeks, |
| loan and found that your credit was too bad to be | | | | this loan not for you. Another down side is the interest |
| approved. Even landlords are starting to do credit | | | | rates they charge can often be quite high. This is |
| checks on potential tenants, which means a bad credit | | | | because it is over such as short period and lenders |
| rating can affect all aspects of your life. Luckily there | | | | are looking to make a return on their investment. |
| are still some ways of getting low credit score loans. | | | | Another type of loan that is available for people with |
| The first type of loan that is easiest to get if you have | | | | poor credit scores is a personal secured loan. A |
| poor credit is a payday loan. Sometimes known as | | | | secured loan is a loan that is back with collateral. If the |
| cash loans, these loans don't depend on the | | | | borrower fails to pay the loan, the banks will go ahead |
| borrower's credit rating. Lenders only care about the | | | | and seize the collateral. These loans give banks less |
| borrower's income and their ability to pay back the | | | | risk when dealing with poor credit customers, making |
| loan. To apply for a payday loan you should have a | | | | them more likely to give low credit score loans. |
| steady income with proof of employment for at least | | | | Secured loans also have a better interest rate than |
| six months. You should also have a valid bank account | | | | payday loans and are taken over a longer period of |
| with your paycheck being deposited bi-weekly into the | | | | time. |
| account. | | | | |