If you have made some wrong financial choices in the past, that doesn’t mean that you shouldn’t be given a second chance and a way to get back on your feet. And it doesn’t mean no one is willing to do so.
Conventional lenders such as banks or credit unions might decline candidates with poor credit reports because they don’t consider them trustworthy. Even a secured loan may be out of the question. Direct or online lenders may be more open to approving your application, but their terms won’t always be most favorable.
Here are some options to consider if you have bad credit and are looking to take out a loan.