Are you looking for an emergency loan with a bad credit history? Regardless of how well you budget for your expenses, emergencies happen.
For example, it could be your car breaking down or your house needing significant repairs. Alternatively, it could be that your health insurance does not cover all your medical treatment costs.
Such unforeseen events can often push you to find quick solutions, although a bad credit record can make the process less straightforward in these circumstances.
An emergency loan is a type of loan granted immediately, usually on the same day. In some cases, it may take up to two days. Emergency loan service providers aim to offer quick access to money to borrowers for unexpected expenses, rent, and mortgage payments, medical bill, funeral expenses, home, and car repairs, and utilities.
However, the challenge of accessing an emergency loan with a bad credit history is a complex process. A poor record of paying off your debts or financial instability can make an already challenging process even more complex.
Typically, a bad credit record means you get fewer loan options, and most providers require you to have a guarantor. Also, there is the risk of running into fraudulent providers that take advantage of your situation and charge you high-interest rates.
We analyzed a variety of loan service platforms and compiled a list of the four best emergency loans with bad credit service providers that can come in handy in your hour of need.
Essentially, these platforms use other criteria to evaluate your eligibility besides your credit history. Some of the factors considered include your average income, total expenditure from your total income, and overall budget discipline.
This article recommends the four best service providers with flexible requirements and favorable terms for individuals with a bad credit record.
Top Sites For Best Emergency Loans with Bad Credit Score
- Money Mutual – Better Alternative For Payday Loans
- BadCreditLoan – Quick Loans For Your Bad Credit Score
- CashUSA – Most Vigilant Website for Instant Loans
- Personal Loans – Best Interest Rates on Personal Loans
- Money Mutual – Better Alternative for Payday loans
is one of the leading online platforms that connect potential borrowers with potential loan lenders for an emergency loan. The brand has over 2 million users.
Moreover, MoneyMutual connects you to a network of 60 unique local short-term lenders to fix bad credit, pay on installments, and payday loans, which range between $200 and $2500.
Once you fill out a form requiring your personal details, MoneyMutual lets you get quick loan offers from its network of registered lenders.
You can start the loan approval process by logging onto the MoneyMutual website. Here, MoneyMutual searches through its network of 60 short-term lenders and connects you to the most relevant lending company based on your unique needs.
- Be at least 18 years old
- Be a US resident
- Have a proven regular source of income
- Own a valid checking account
MoneyMutual’s process is designed in a way that allows you to make a final decision on whether or not you accept the loan offered after reviewing the terms and conditions.
But, it is important to know that MoneyMutual does not determine the loan amount, interest rate, APR rate, etc. Instead, the lender provides these details.
Fees and Costs: Being an intermediary, you can be excused if you believe that charges a fee for using the platform. However, the opposite is true, as offers a free service to borrowers. The platform’s financial model is based on charging the lenders on its network instead.