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Personal Finance
Credit and Debit Cards
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Money Management

Can i get a loan with bad credit?

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Wiki User
May 05, 2014 12:00AM

Generally it is still possible to get a loan with poor credit. However credit ratings will usually affect your interest rate of your loan. This article is a great one to put it all in perspective and give more specifics that may give you more of an idea for your situation: http://www.ehow.com/how-does_4565419_bad-credit-affect-loans.html

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Wiki User
September 04, 2007 10:42PM

It depends how bad your credit is. Many financial organisations will lend money to people with poor credit, but more often than not you will face tighter conditions and higher rates of interest than those in a more stable financial position.

More importantly you should asses why you have bad credit, if you can not afford to pay back the money you already owe, you should not take another loan if you can avoid. You should try and live within your means and not spend money you cannot afford as far as possible.