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Step 1
Gather together your documentation of income. You will have to prove to the lender that you have a steady stream of income and that you have a secure job. You'll need recent pay stubs or tax returns if you're a freelancer.
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Step 2
Go over your most recent credit report to make sure there are no errors. You may have bad credit, but there are still degrees of bad credit and you can save yourself some money by making sure your credit score is correct.
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Step 3
Determine the amount of funds needed. This will go a long way toward narrowing down the best options for you and make your research less time consuming. You can get a bad credit personal loan from a bank, credit union or a general finance company (see Resources below).
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Step 4
Gauge how quickly you need the money. This can also narrow down the options available to you. The quickest way to get a bad credit personal loan fast is to get a payday loan or cash advance on your paycheck. These options require quick repayment and an extremely high interest rate, however. If you have more time, consider a personal loan through a traditional lender instead.
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Step 5
Shop around to make the most informed decision. By knowing how much you need and when you need it, you can then focus your research on those lenders that can help you. This can also help you to get a better interest rate to save you money in the long run (see Resources below).
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Step 6
Read carefully all of the terms that pertain to the bad credit personal loan. These types of loans generally have more strings attached to them than other types of loans. For instance, there may be prepayment penalties, or there may be differences in the way the interest rate is calculated and applied.
