If you have bad credit, it can be incredibly frustrating to try to get a loan. Many traditional lenders will turn you away and even those who do give out loans charge high interest rates, making it impossible for you to ever pay back what you owe. So what are your options? Credit cards are great if you’re trying to build up your credit history or pay off old debt, but they might not be right for every situation. Luckily there are several other types of loans available if you need money fast!
If you need cash quickly, a payday loan may be the answer. A payday loan is a short-term loan that’s made to people who have bad credit and no other options for getting money. You can borrow up to $2,000 for up to 6 months at rates ranging from 300% APR or more (annual percentage rate).
The amount of money you borrow depends on how much income you make each month; if you’re paid biweekly or monthly, as most people are today with their employers paying them every two weeks instead of weekly like they did when I was growing up in the 1950s and 1960s.. The lender will ask for proof of employment such as pay stubs and bank statements showing deposits into your account over several months so they know how much money comes in each month before deciding whether or not they’ll give out the loan amount requested by their customer.
Title loans are a type of secured loan, which means that you put up your car as collateral for the loan. If you don’t pay back the money on time, then your lender can take possession of and sell off your car.
Title loans are often used by people …