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Loans for Very Bad Credit

Get personalized rates in 60 seconds for Poor Credit Instant Approval Loans, without affecting your credit score.

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Poor Credit Instant Approval Loans

Very bad credit can limit your options when it comes to finding a loan. We recognize the importance of a second chance though and are here to help you find a loan that works for you. With the right steps, you can be on your way to a better credit score. Find out if you qualify for a personal loan now. Check offers at Acorn Finance with no credit impact. 

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Helping You Find Loans for Very Bad Credit

How do loans for very bad credit work?

How a loan works will depend on the type of loan you choose. Here are some examples.

  • Payday loan: With a payday loan, you’ll need to apply with a payday lender. While typically not secured with collateral, payday loans can be funded in small amounts (think hundreds of dollars) and are to be repaid out of our next paycheck. The downside is the high interest rates and fees associated. Plus, payday loans are usually not reported to credit bureaus so this may not help you boost your credit. 
  • Personal loan: If you can qualify for a personal loan, this can be a better option. Personal loans are reported to credit bureaus so therefore if used responsibly they can help boost your credit score. Personal loans are funded as a lump sum to be repaid in equal installments with interest over a predetermined period. 

Loans for Very Bad Credit: Frequently Asked Questions

What are loans for very bad credit?

Some lenders specialize in bad credit loans. If you have very bad credit, you’ll need to find a lender that you can meet the requirements to qualify. While you may have to provide more documentation and face lower loan amounts and or shorter repayment periods, loans for very bad credit should work the same as loans for other categories of borrowers. As a bad credit borrower though, you may need to explore the option of alternatives such as pawn shop or payday loans. 

How do you find the best loans for very bad credit?

If you have very bad credit, the process of finding a loan is expected to be more challenging. While there’s no golden ticket for a low APR personal loan with a very bad credit score, you still deserve a chance to find a loan that works. We encourage borrowers to check their credit score so they can better understand the reality of their situation. Furthermore, invest the time to compare offers. It’s easy to feel discouraged with bad credit, but keep going. Do what you can to learn and understand everything you can about credit scores and loans to determine the best path forward. 

What’s the easiest way to get a loan with very bad credit?

Very bad credit loans may return unfavorable offers. To increase your chance of qualifying, consider boosting your credit score or applying with a cosigner that has good credit. To explore options, check offers at Acorn Finance with no credit impact. We strive to empower borrowers with options - without hurting their credit score along the way. 

Are personal loans worth it when your credit is really bad?

In some cases, yes. However, you’ll need the right information to truly decide. Loans can be costly with very bad credit, so that’s something to consider. Furthermore, if they will cause financial challenges, you may risk putting your budget and credit score in a tougher spot. While you may feel intense pressure to get money now, do your best to think ahead and consider all the pros and cons. 

Loan Calculator: Loans for Very Bad Credit

HOW IT WORKS

Find the loan you're looking for

Table comparing monthly payments, APRs for approved personal loans.
1
See your options
Take a few minute to answer few questions, and we'll match you with the right range of lenders to consider
2
Choose your loan
Find your favorite marketplace of offers and apply directly with the lender you prefer
3
Do your project
If you're approved, use your funds to cover all your costs now, and pay the lender back month by month

What can I do with a $8,000 personal loan?

A $8,000 personal loan has a number of uses, including (but not limited to):
Home improvement Buying a car Wedding costs
Debt consolidation Medical bills Startup business costs
FREQUENTLY ASKED QUESTIONS

Still have questions?

Compare & Shop Loans for Very Bad Credit at Acorn Finance

Loans for very bad credit can be hard to qualify for - and costly too. We applaud you for setting out to do some research before jumping into the process. Improving your credit score should be a serious consideration, although we understand time does not always permit. Additionally, borrowing money is an avenue that can actually help boost your credit score. Should you choose to proceed with a loan, ensure you live up to your end of the deal.

How do you find the best loans for very bad credit?

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If you have very bad credit, the process of finding a loan is expected to be more challenging. While there’s no golden ticket for a low APR personal loan with a very bad credit score, you still deserve a chance to find a loan that works. We encourage borrowers to check their credit score so they can better understand the reality of their situation. Furthermore, invest the time to compare offers. It’s easy to feel discouraged with bad credit, but keep going. Do what you can to learn and understand everything you can about credit scores and loans to determine the best path forward. 

What’s the easiest way to get a loan with very bad credit?

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Very bad credit loans may return unfavorable offers. To increase your chance of qualifying, consider boosting your credit score or applying with a cosigner that has good credit. To explore options, check offers at Acorn Finance with no credit impact. We strive to empower borrowers with options - without hurting their credit score along the way. 

Are personal loans worth it when your credit is really bad?

+

In some cases, yes. However, you’ll need the right information to truly decide. Loans can be costly with very bad credit, so that’s something to consider. Furthermore, if they will cause financial challenges, you may risk putting your budget and credit score in a tougher spot. While you may feel intense pressure to get money now, do your best to think ahead and consider all the pros and cons. 

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