Bad credit loans and how they may or may not be of help to you when you have emergency expenses and no cash to deal with them.
They are safe to apply for and easy to do. The high fees may actually be less than utility setups, redeposit, and start-up fees or high bank NSF fees if you are trying to cover some checks you issued.
What Is a Bad Credit Score?
A bad credit score is defined differently by different experts. Your credit score can range between 300 and 850. Scores under 600 are considered poor by most experts, and scores under 500 are very poor.
There are 2 major factors affecting your credit scores.
a. Payment history
b. Amounts owed
How to Improve Your Bad Credit
1. Pay your bills on time.
2. Pay off your credit cards, starting with the smallest debt
owed.
3. If you cannot get a credit card, you may be able to get a secured credit card.
Read more: How Can You Get a Bad Credit Loan in a Financial Emergency?
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