needs money from loan

If I Have A Really Low Credit Score, Can I Get Bad Credit Loans?

Bad credit loans allow you to receive the money that you urgently need even if your credit score is not as perfect as you want it to be. Even individuals with a really low score might end up qualifying for a bad credit loan if they have a valuable asset or are able to prove that they have a stable income. 

Below you will find out how to choose the right loan for your specific case and how to apply for it.

What Are The Types Of Bad Credit Loans?

Even if you have a poor credit score, you still have quite a few loan options to choose from.

It could be easier for those with bad credit to qualify for a secured loan as it requires collateral. For example, when applying for a title loan you would typically need to present a valid ID, a lien-free title, and the vehicle being used for collateral for a quick inspection.

Another type of loan you may qualify for is a payday loan. While a title loan requires you to own a vehicle outright, a payday loan only requires that you are employed. Although it offers less than a title loan, your employment can secure the loan. The repayment for this loan is typically due by your next paycheck, so it may be a better option for your financial situation. 

A lot of lenders also offer personal loans to people with poor or non-existent credit scores, as long as they are able to prove that they have a source of income.

bad credit loan

Is It Possible To Get Payday Loans For Bad Credit?

Mississippi Title Loans, Inc. is a licensed financial service that offers quick payday loans and that is ready to consider any credit situation.

The chances of you qualifying for a payday loan will drastically increase if you can prove that you will be able to repay the loan. You can do that by providing a document that proves your income.

Though in the majority of cases, potential borrowers would bring in their most recent pay stubs. Simply contact the friendly representatives to find out what options you might have.

How To Choose A Bad Credit Loan

Check Your Credit Score

Before applying for a loan, you would want to find out what you’re actually dealing with. Take a close look at your reports – sometimes, credit bureaus can make mistakes that will influence your credit score. The good news is that you can dispute the mistakes and get them removed from the report.

Ensure That The Monthly Payments Fit Into Your Budget

Of course, you wouldn’t want to owe more than you can pay back. You should also make sure that you still have enough money left each month to cover your needs and other bills. So, always do all the necessary calculations beforehand.

Payday loans might be a very convenient option for people who don’t want to have to redo their budget every single month. A payday loan can typically be repaid with your next paycheck. This means that you’ll be able to get back to your normal budgeting schedule in only a few weeks.

Find A Reputable Lender

You will want to ensure that the lender has competitive rates and that the company is trustworthy. Mississippi Title Loans, Inc. is a lender that ticks all the boxes.

How To Apply For Payday Loans For Bad Credit

When you need to handle an emergency, a payday loan can help you bridge the gap between your paychecks. 

All you would have to do is:

  1. Fill out a short online form.
  2. Receive a call from a representative from the nearest store location. The professional will set an appointment with you and tell you more about the process. If you have any remaining questions, make sure to ask them – a representative would be happy to help.
  3. Arrive at the store with the necessary documents. Remember that your ability to obtain the loan will not depend on your credit history.
  4. If you are approved, finish the paperwork, sign the loan agreement, and get the money the same day or the next business day.

qualifying for payday loans

FAQs About Bad Credit Loans

What Items Will I Need To Apply For A Payday Loan?

You will only need a valid photo ID, a recent pay stub, and a blank check from your checking account.

How Much Can I Qualify For?

With Mississippi Title Loans, Inc., you could get up to $400.

How Long Does It Take To Get Approved?

The in-person process might take only half an hour.

Get Started Now!

No matter how low your credit score is, you might be able to qualify for a payday loan. When applying for a payday loan offered by Mississippi Title Loans, Inc., your credit-related problems will not play a role in your ability to obtain the loan.

If you have all the necessary documents on hand, you can get approved and receive the emergency sum in a short timeframe. So, what are you waiting for? Fill out the application form right now to get started!

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.