How to Ask to Someone for a Personal Loan to Pay Bills If You Have Bad Credit

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Broke and need to ask someone for a personal loan because you have bad credit or no credit? Here are some helpful tips for asking a friend, acquaintance or relative for a personal loan to help you pay the bills.

Decide which person it will be that you are going to ask for a personal loan from. If your credit is bad or if you have no credit, you can ask a friend, relative or other acquaintance for a simple personal loan. Think about the people you know and decide which of them would not be offended by your request, and also might be able to grant it. Nobody likes to ask for loans, but in hard time, you may have to do this.

Meet with the person that you are going to ask for the personal loan. This can be at their home, yours or at a public eating place if you prefer. Do not bring anyone else along with you as this needs to be a private business meeting. Bring along any financial documentation that you feel would be helpful in explaining your situation to them.

Shake the person's hand and greet him in a friendly manner. Get right to the point about your reason for meeting with him. Discuss your needs and detail how much money you need, tell why you need it, what you plan to use it for and when you intend to repay the personal loan back to the person. Be sincere and honest. If you are not sure of when you can repay the loan, that is not a good thing, but at least be straightforward about it and admit that.

Consider offering items of value as collateral if you have anything of value to offer on a loan. You can use musical instruments, automobiles, tools, property or anything of value. Put together a detailed, interesting and inviting proposal and be ready to lay it all out on the line during your meeting. If the person declines interest in your proposal, accept it kindly and thank the person. Be ready to move on to another person and present the request again until you find one willing to accept your request for a loan.

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