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It will depend on how bad your credit is, what income you have or if you own property that could be used as collateral. If you have used the same bank for any length of time, I would suggest starting there.

My other suggestion would be getting a cosigner; it is difficult to share your financial situation with friends and/or relatives, but this is probably going to be your best bet; if you don't have collateral.

If you have a friend or family member who is able to give you a loan, you could offer to sign an IOU with interest. I know very frequently parents will go without, rather than to ask to borrow money from an adult child who is fully able to help; and the adult child would be devastated to know their parents are in need.

I would suggest you stay away from any "pay-day" advance type situation due to the extreme fees and high interest, in some cases the payoff amount doubles in just a few weeks. It does seem for those who may find themselves temporarily in bad shape financially, the worse you need the loan, the harder it is to get.

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Q: How can a senior citizen with bad credit get a small loan?
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