There are many people who are under the impression that if they have a bad payment history, that it would be impossible for them to borrow money should they ever need to. The truth of the matter is that it is very possible to get a personal loan for bad credit, even for an amount of 30,000 as long as they meet certain criteria when they fill out an application form.
Most of the companies offering this type of lending service can be found on the Internet, where it is a simple matter of filling out the application form they provide, to apply. As long as you are eighteen years and older, have permanent employment, and are of course, a US citizen, you have an excellent chance to qualify. Some of the companies give you the choice as to whether you want to make it a short term, or long term, depending on your financial status.
If you have assets that you can use as collateral, you can take a secured loan, which is then backed by whatever asset you have chosen to secure the transaction. The advantage of borrowing money this way is that your interest rates will be lower, and you can take longer to pay back the money.
Should you not have anything that you own that you can use as collateral, then you can get a friend or family member to co sign your application, and, as long as they have a good credit history, you should have no problem at all getting the money you need.
You even have a good chance to qualify when applying for a fast bad credit loan from these companies if you have no assets to use as collateral, and do not have anyone willing to co sign the loan, if you are permanently employed, with a regular salary.
The disadvantages to borrowing money under these conditions though, is that interest rates are normally higher, terms for repayments are less flexible, and you will more than likely have to pay back the money in a shorter time. Also, because you are a higher risk, if you do not pay on time, as you have agreed to do, the company will charge you late payment fees.
So, it is very possible to get a loan if you have a bad credit record, as long as you can satisfy the company that you do meet all their requirements, and if you are prepared to pay back the money as per your agreed arrangement with them, at the interest rates they charge.