I Need Money Fast With Bad Credit!

There’s not much worse than needing money fast with a bad credit rating — mainly because you have a pretty good idea it will be hard to get. Most reputable lenders don’t want to loan money to people with less than stellar credit scores, and with good reason. No matter how good your intentions are, the majority of people with bad credit have problems paying their bills on time and are much more likely to default on loans than people with good credit. However, you do have a few options to consider if you need money now and your credit rating is on the dismal side. Try not to go the payday loan route if you can help it — even the most reputable payday loans are recipes for financial disaster.

Find a Cosigner

It might be hard to convince someone you know to sign with you on a loan, but banks are much more likely to offer cash loans for people with terrible credit who have cosigners.. It’s probably best to ask someone you have a pretty stable, solid relationship with versus someone you’re not as close to. If you can’t pay the loan back, a person who is very close to you is more likely to forgive you than someone who isn’t. That said, pay your loan back if at all possible! You don’t want your personal relationships to sustain any damage whatsoever if you can help it.

Sell Your Stuff

Do you have anything of value that you can sell? If so, do you need the money badly enough that trading in your valuables would be worth it to you? Assuming your answer is yes, you can get everything you’re willing to let go of together and see how much you can get for it all. Ebay is a great place to sell used electronics, jewelry, and even your car. If you’re not sure what to ask for your stuff, do a quick search to find out how much other people are getting for their items, and price your things competitively. You can also set up auctions so that purchases have to be paid for immediately, which gives you a better shot at getting your money fast.

Offer Up Collateral

If you don’t really want to sell your valuables, you can try to use them as collateral when you apply for a loan. Doing this means you get to keep your stuff as long as you make your payments. However, there is an excellent chance you will lose your things if you don’t make your payments, so think the idea of collateral through very carefully before agreeing to put your items up for it. Keep in mind however that even with collateral, it may not be likely that you’ll qualify for a $10000 loan with bad credit, but amounts lower than this might be realistic depending on what kind of collateral you’re using.