Online Bad Credit Loans

A bad credit loan is designed for individuals with a low credit score or bad credit history. You may have defaulted on a loan previously, not have had time to build up your credit score or you may have been affected by an event that reduced your credit score. Traditional banks mainly consider your credit score when determining whether to lend you money. However, this often means that individuals with low credit scores do not have access to cash. Unlike traditional banks, our lending partners consider more than just your credit score. Some of the additional information that our partners consider is

1. Be a US Resident: In order to apply for bad credit loans in America, you have to be an American resident. Lenders will require that you can prove that you are a resident with a valid form of identification such as a Social Security Number.
2. Be a over 18 years of age: It is illegal in most states for an individual that is younger than 18 to take out a loans. You need to be at least 18 years old.
3. Have a checking account that can receive cash: You need to have a valid and working checking account for lenders to deposit your bad credit loan into. Make sure that you are able to take out the bad credit loan from your checking account.
4. Have a monthly income of at least $800: Lenders will decide how much they can lend to you based on multiple factors, one of which is how much you earn each month. Lenders want to ensure that you are able to pay them back. The smallest loans that our lenders offer are $100 bad credit loans. For a $100 bad credit loan, lenders typically require that you are making at least $800 per month.
5. Be able to make repayments: Most importantly, only take out a loan if you can pay it back. Bad Credit Loans are expensive if you do not pay back your bad credit loan on time. Make sure that you pay back your bad credit loan in line with your loan agreement. If you are unsure how the terms of your loan will affect your repayments, explore our dynamic loan calculator tool to get a better understanding of your loan repayment terms.

1. Employment Status: Lenders want to trust that they will get their money back. Most lenders will ask to see a record of employment and consistent monthly or weekly wages that are large enough to pay back your bad credit loan.
2. Checking Account: You need to have a working checking account that lenders can deposit cash into. You must also make sure that you are able to withdraw cash from this account to get your bad credit loan. Make sure that you can also have an account that you can pay your lender from.
3. Contact Details: When applying for a bad credit loan, we will ask for basic contact information (email, phone number, etc) so that lenders are able to contact you with potential loan opportunities.
4. Identification: Lenders will require that you provide a valid form of identification so that they can verify that you are an American resident or a legally registered citizen. Most lenders will only lend to American citizens or individuals with valid residency documentation.

To borrow money from bad credit loan lenders in America, applicants require proof of income, an active bank account, a valid form of identification and contact details. Even if you have bad credit, you can still apply for a bad credit loans if you provide us with the above details. Simply enter your details into our application to find the best bad credit loans for you today!

We understand that occasionally you may be hit with an unexpected expense or need to borrow money for a long term commitment. Either way, if you have a low credit score, it can be very difficult to get a loan from a traditional bank. Together with our lending partners, we are committed to helping hardworking Americans improve their financial health by offering them affordable credit even if they have a low credit score.

1. Medical Bills: Medical expenses have been increasing year after year in America leading to more and more people taking out loans to cover emergency medical procedures. Medical bills can be time sensitive and require individuals to pay quickly. Borrowers take out bad credit loans to pay for medical procedures before their next payday.
2. Auto Repair Costs: There are over 6 million motor accidents in America per year. Cars and motorbikes are very important to many Americans, allowing them to conduct their daily lives. If you do not have insurance to cover repair costs of a motor accident, and you need repairs done quickly, you can take out a bad credit loan to cover costs.
3. Funeral Bills When a loved one passes away, families can face large funeral costs. Funeral expenses can include funeral home services, caskets, burial plots, and more. For individuals without access to immediate funds, bad credit loans offer a way to cover funeral expenses. However, if you are not certain that you can pay back your bad credit loan quickly, you should consider a more longer-term loan such as a collateral loan.
4. Low Credit Score: You might have a low credit scores beacuse you defualted on a previous loan; have not had time to build up your credit profile; have high credit card balances for example. Regardless of the reason for a low credit score, consumers with poor credit ratings can find it difficult to obtain affordable loans when they need them. Our network of lenders help consumers with low credit score find affordable loans for our customers.

Bad Credit Loans are designed for individuals with low credit score and who are unable to borrow from traditional banks because of their low credit score. Traditional banks typically do not consider individuals with poor credit. Even if you are considered, a traditional bank can take weeks to process your application before you get paid! With Pachyy, you can apply for a bad credit loan between $100 and $50,000 in under 5 minutes. Once you submit your application, you will be immediately notified of potential bad credit loans and could receive cash in 1-24 hours. The bad credit loans that we offer are affordable and flexible, thereby giving you greater control over your financial health.

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1. Collateral Loans: If you have a low credit score, lenders will be more cautious in lending money to you. Lenders might ask for collateral against some of your assets (savings, home, car, motorbike) to give them more comfort that they will get thier money back. For this added comfort, bad credit collateral loans typically have lower interest rates versus other types of bad credit loans. If you have a low credit score, interest rates will be higher but providing collateral can help reduce the interest rate on your bad credit loans.
2. Installment Loans: Installment loans allow you to pay back your loan with multiple payments. Rather than paying back your loan with a single payment, installment loans allow you to pay back your low with multiple payments. Becuase you pay back your loan with multiple payments, each payment is smaller compared to the size of the loan, making it easier to pay back. If you have a low credit score becuase you have financial difficulties, installment loans can make it easier to pay back your bad credit loan.
3. Payday Loans: If you are looking for a small, short-term loan, a payday loan could be the right loan for you. Even if you have a low credit score, lenders will still consider lending you a bad credit payday loan if they are comfortable that you will be able to pay back the loan with your next pay check. If you only need a small amount of cash, bad credit payday loans might be better suited to you than long-term other loans such as bad credit installment loans.

We offer a variety of bad credit loans that are designed to fit your needs. Depending on your level of savings and the assets that you own, different bad credit loans may be better suited to you. Having valuable collateral can reduce the cost of borrowing. Regardless of your circumstances, we are here to help you find the best bad credit loan.