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Step 1
Review your credit report to see if there are any items that are incorrect or that you can repair. This will bring your credit score up and improve your chances of loan approval.
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Step 2
Fill out an application at your bank or at another lender. Have your information ready, including social security number, full name, driver's license, income and evidence of other assets.
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Step 3
Examine the terms of the loan. Try to negotiate a better interest rate. Look at the expected monthly payments and make sure you can afford them. Only borrow the minimum that you need.
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Step 4
Make your loan application more attractive by having a co-signer who is financially secure and has good credit. This co-signer must be at the bank with you when you sign your loan.
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Step 5
GIve the application to the lending officer and wait to hear if you have been approved. The wait time on personal loans is usually brief.
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Step 6
If you are denied by your bank or other lending institution, consider other options for getting a loan.
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Step 7
Ask relatives or friends if they would be willing to loan you money on an installment plan.
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Step 8
Apply for a high limit credit card---although it probably will come with high interest. Or get a secured credit card.
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Step 9
Look on the internet for lenders. Put "personal loans with bad credit" into the search engine. You'll come up with many options. Research these options carefully.
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Step 10
Work on cleaning up your credit report, if you are unable to get a personal loan with bad credit. Spend several months repairing your credit, then re-apply for a personal loan.
