Bad credit loans
Loans for people with bad credit also charge higher interest rates because lenders use your credit score as a basis. If you recently defaulted on a loan, have a slow payment history, or if you have taken on too much debt, you may be charged more interest. Some lenders might not hesitate to turn your application down.

Things to Remember About Bad Credit Loans
There is always the distinct possibility that the lender might become more understanding of your financial situation especially if you recently went through a divorce, relocated or were laid-off. o Lenders have different types of loans for people with bad credit. They can suggest an appropriate bad credit loan for you.