Where To Get 1500 Loans With Bad Credit

While 15000 loans with good credit can be easily secured from bank, this option does not apply to people who have previous defaults on loan therefore they have a bad credit. Most banks do credit to determine the borrowers capacity to pay back the loan in the agreed time. If you have a bad credit history, most likely your loan application with any bank will be denied because of the risk that you possess to them. They would presume that since you have previous defaults, most probably you are also going to make a default if you take out a loan from them. The question now is, “where are you going to get 1500 dollar loans with bad credit?”
Basically, you only have few options with bad credit. First option would be borrowing 1500 from a friend or relative. This is perhaps a good option only if you can find someone who will trust you his money and if you will be able to repay him as agreed upon. Today, it is rare that you will find someone who would be willing to lend you an amount which is bigger than 500 dollars like 1500. Although this can be a good option for you because this comes with low or no interest rates and flexible repayment time but due to recession and other economic problems, most people do need money and they would not want to risk a certain amount which they are not sure if it is going to be returned to them. In this case, it is best that when you loan money from a friend or anybody, it must be in black and white so there is what we call “legality” in the transaction. You may give your friend a post dated check, just to be sure that you will not default on the loan other wise you will criminally charged and the worst scenario is that you will be losing a friend or your relationship with someone will be ruined.
If you don’t have any luck on finding someone who can lend you the money, then your last option would be to borrow from a payday lender. Payday lenders are everywhere. They may be in your locality or online and it is their business to extend loans to bad credit borrowers for a short period of time and with extremely high interest rates. Before taking out a 1500payday loan, you have to make sure that you have extra 1500 dollars or more on your next payday to be able to payback the loan in full otherwise you will have to deal with late charges for delayed payment and accruing interest added to your loan balance. This can be a good option if you want money for emergency situations and if you have a bad credit, however this can also be a worse option if you will default and be tied in the debt cycle of having to get another loan just to repay it. If you can pay it in full on time, see to it that you won’t take out another payday loan by saving an emergency fund that you can use when the need arises.