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The number one bad credit loan company in America

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Posted at 11:57 AM, Jan 11, 2022
and last updated 2022-01-11 14:02:17-05

Are you someone who is making your ends meet by taking payday loans frequently? Do you often find yourself in situations where you need emergency loans? Well, it is nothing to be ashamed of and we are proud that you are working hard and trying your best to achieve your goals!

Being a person who takes loans often, you would know that credit scores are of crucial importance. In certain cases, you might not get loan approval if you have a bad credit score. So, you must be wondering, what happens to those who have a bad credit score? How do they manage to take a loan in times of need? Is there any specific procedure to apply for a payday loan? Well, if you want to know answers to these questions, continue reading because we have discussed everything you need to know about loans in this article!

Honestly speaking, if you have a bad credit score, it might be a little difficult for you to take out a bad credit loan; however, it’s not an impossible task. All you need to do is to apply at the right place and know about the technicalities associated with it.

MoneyMutual: Best Place to Apply for a Loan with Bad Credit Score 


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MoneyMutual is undoubtedly the best place to get an emergency loan while having a bad credit score. This award-winning company is the go-to place for many people all around America.

Why Choose MoneyMutual? 

  1. Instant Approval 

Their dedicated team works enthusiastically to ensure all loans are approved within 24 hours and no one is left waiting when urgent money is required.

  1. Simple Application Process 

MoneyMutual understands that in times of emergency, no one has the time to fill out lengthy applications. Therefore, they have designed a simple and straightforward application process that takes only 5 minutes to complete.

  1. Large amount of Loans

On MoneyMutual’s portal, you can apply for as much as a $5000 loan but in certain cases, more than $5000 can be obtained as well. The interest rate on the loan is charged according to the amount of money you are borrowing. The higher the loan amount, the higher will be the interest rate. Therefore, apply for the exact amount that you need.

  1. Completely Online Process 

Thanks to the complete online process of MoneyMutual, you do not have to go anywhere for document verification or stand in long lines to submit the application process. Apply for a loan wherever you are!

Wide Network

MoneyMutual does not lend you the money directly. Instead, it only serves as a middleman in connecting borrowers with lenders. With MoneyMutual you can get access to more than 60 lenders so there is a surety that someone would be available for help when you need it the most.

  1. Flexible Terms and Conditions 

MoneyMutual allows loan lenders on their platform to design their own terms and conditions. This flexibility allows you to choose a lender whose terms are easy for you to fulfill.

Who Can Apply for a Loan on MoneyMutual? 

Applying for an emergency loan on MoneyMutual is easy and simple. You need to fulfill the following conditions to be eligible for a loan:

  1. Must be a US citizen 
  2. Must be 18 years old or older 
  3. The minimum monthly income should be $800
  4. Must have a checking account 

MoneyMutual in a Nutshell 

MoneyMutual is the best loan lending company in America and their customers love it because of their quick services and humble customer service staff. Here are some of the major pros and cons of choosing MoneyMutual as your loan lender:


  1. simple and short application process 
  2. Easy monthly payments 
  3. Safe platform 
  4. Maximum borrowing limit is $5000
  5. Loan approvals are complete within 24 hours 
  6. People with a bad credit score can also apply for loan 


  1. Does not operate in certain US states 

Types of Loans with a Bad Credit Score 

There are a variety of loans that you can take while having a bad credit score. Firstly, they are broadly divided into two types: Unsecured and secured loans. Besides, there are multiple other types that belong to either one of these categories.

Unsecured loans do not require any collateral such as insurance amount, personal items, or a consignee. These loans include student loans, credit card loans, and personal loans. These loans are offered at a high interest rate since the lender is taking a significant risk by lending you the money without any insurance measures.

Secured loans require you to submit collateral that might be in the form of personal belongings or a consignee. In case you fail to repay the loan, the lender has the right to confiscate the collateral you have submitted. Secured loans are the easiest to obtain and huge loans are often secured loans to prevent fraud. This is beneficial for the lender and the borrower alike. The lender has the collateral to cover up the loan cost whereas the borrower has the responsibility to repay the loan to get back his personal belongings.

  1. Payday Loans 

Payday loans are repaid on the borrower’s upcoming paycheck. They are unsecured loans, meaning you do not have to pay collateral to obtain a payday loan. These are short-term loans up to hundreds of dollars. However, as easy as they are to obtain, they are offered at a very high interest rate.

  1. Student Loans 

Managing studies on a tight budget is not an easy task. Being a student you might come across situations where you need to take a loan, and that is when student loans come to the rescue. Student loans are easy to obtain and come with low interest rates so students can fulfill their requirements without having a massive burden on their budget.

  1. Title Loans 

Title loans are taken by vehicle owners and range from 25% to 50% of the cost of the vehicle. They have to be repaid within 15 to 30 days, otherwise, the lenders have the right to confiscate the vehicle until the loan is repaid. These loans have a very high annual percentage rate (APR).

  1. Consigned Loans

Cosigned loans are the ones where you have to present an individual as your guarantee. In case you fail to repay your loan, that person will have the responsibility to do so. Although consignees are hard to arrange, this type of loan is easy to obtain since lenders have insurance that their money will be repaid.

Be very careful while choosing a consignee but if you fail to repay the loan, your relationship with that person might be ruined.

Technicalities of Bad Credit Loans 

Taking an emergency loan with a bad credit score is not a difficult process. Although, you need to be aware of the technicalities associated with it so that you can choose an option that suits your requirements and you do not end up in a continuous cycle of never-ending loans. Here are some of the major things you should know about bad credit loans:

Annual Percentage Rate 

Annual Percentage Rate is the total amount of interest rate you have to pay over a year. This is generally associated with mortgage loans, credit card loans, or auto loans. APR is generally 0.1 to 0.5% higher than the interest rate. The higher the APR, the higher will be the additional costs associated with it.

APR is set by the lender and is negotiable to a great extent. Therefore, while choosing a lender, do not agree on their given APR, instead, negotiate with them to lower it down as much as possible. Lastly, if you are comparing multiple lenders, compare the negotiated APR value.

Types of Interest Rates 

Loans can be offered on two types of interest rates: Fixed interest rate and mixed interest rate. The fixed interest rate remains the same no matter the circumstances. Whereas, mixed interest rate increases or decreases depending on multiple factors such as return period and declining balance. Generally, loans with fixed interest rates are cheaper than the ones with mixed interest rates.

Types of Charges associated with Loans 

People often think that interest money is the only extra payment they have to make with borrowing a loan, however that is not the case. Here is a list of some other charges associated with loans:

  1. Processing Fee 

Lenders often charge a payment processing fee that ranges from 1 to 2 percent of the overall loan amount. This fee is added to the overall loan amount. Always try to choose a lender who is charging the lowest processing fee.

  1. Prepayment Fee 

Certain loan lenders do not allow you to pre-pay the bad credit loan because it lowers their overall interest profit. They often charge a prepayment fee in case you want to prepay your loan amount.

If you can, always try to prepay the loan to save your interest charges. Although you would be paying the prepayment fee, it would be lesser than the amount of interest that you had to pay. Therefore, while calculating the overall loan cost, include the prepayment fee as well.

  1. Late Payment Fee 

In case you fail to repay your loan within the dedicated time slot, you have to pay a late payment fee. If your financial condition is too weak, also include this fee in your overall loan amount. However, if you have a bad credit score, always try to repay the loan within the given timeframe to avoid issues with the lender.

Tips and Tricks to Get the Most Out of Bad Credit Loans 

Just like every other activity, you need to be aware of the major tips and tricks regarding emergency loans. These insights help you in making informed decisions and choosing the packages that perfectly align with your situation. Here are some of the important tips you should remember while taking an emergency loan with a bad credit score:

  1. Borrow what you exactly need 

Remember we talked about the interest rates and how they depend on the overall loan amount? Always borrow money that you exactly need. It will not only save you from an additional interest rate but will also be preventing you from overspending the extra money.

  1. Compare all options

Online platforms like MoneyMutual have a wide network of loan lenders, each offering loans on different terms and conditions. Therefore, spend some time exploring different options and choose a lender that charges minimum interest rates and has flexible terms and conditions. Besides, do not apply for credit inquiries until you have made your final choice because it decreases your credit score.

  1. Never take Additional Offers 

Remember that loan lenders are not lending you an amount out of empathy, instead, they are in this business to make a profit. Therefore, you will often come across lenders who forcefully try to add additional costs to your loan amount that you do not need. Always avoid such lenders and never agree to these add-on offers because it will do nothing more than increase the overall interest rate.

  1. Maintain a Good Credit Report 

As we mentioned earlier, a credit score does not matter when you are taking a bad credit loan since you have already implied it to be bad. So how do lenders analyze your credibility? They analyze your credit report to estimate your ability to repay the loan. Therefore, always try to maintain it as well as possible. If your credit report displays any late or delayed payment, lenders might be reluctant to offer you a loan.

Identifying the Best Payday Loan Lender

Online platforms often have a plethora of loan lenders on their portals, each offering different deals on different terms and conditions. How do you compare and choose a lender that suits your requirements? Here are a few things that can help you in identifying a credible lender:

  1. Thoroughly look at their customer review section. By doing this, you will be able to know which type of loans are usually borrowed on their website, what is their overall customer service, how active they are on the platform, and much more. 
  2. A trusted lender never proposes terms and conditions that are either too hard or too easy to follow. There is always a medium level of difficulty associated with them and you can judge that by comparing it among multiple lenders. 
  3. Credible lenders never set up hidden charges. They are open to discuss their charges with the borrowers and never ask for advance submissions. 

Loan Lending Scams and How to Recognize them 

Loan Lending Scams are very common and you should be very mindful of who you are dealing with. Your negligence might leave you in hot waters and you might be robbed out of your precious money. Continue reading to know how to identify a loan lending scam so you are ready when the time comes:

  1. Direct calls and promotions 

When you apply for a personal loan, you will receive a call from a lender for confirmation purposes. However, some fraud lenders may contact you directly to promote their scam schemes and to lure you into their frauds. They may contact you through email, phone, or any other means to know about your banking details. Never provide your personal information to anonymous people to avoid getting into such scams.

Now you must be wondering, how can you differentiate between a scam call and a genuine one? You can judge this based on their sales pitch and the information they provide about their loan schemes. If a lender is vague about the terms and conditions and does not seem to care about your credit score, it is most likely to be a bad credit loan fraud.

  1. Unrealistic deals 

If you come across advertisements that offer limited-time deals, exceptionally low interest rates, and similar conditions, they are loan lending frauds. Trusted lenders never offer such deals and even if they offer an exception, the conditions are limited to a certain amount and have clear terms and conditions. Therefore, always check the credibility of the lenders by talking to them in detail and checking their customer review section.

  1. Vague terms and conditions 

Fraud lenders are often vague about their terms and conditions and refuse to discuss them. This is the biggest indication of scam deals. These scammers have hefty hidden charges which they reveal after the deal is done so the borrower has to pay them legally.

Trusted lenders always reveal their charges before finalizing the deal and are open to discussing them in detail.

  1. Advance fee submission 

All charges associated with bad credit loan lending are taken at the time of closing so if a lender is asking from them in advance, it is bound to be a fraudster.

Benefits of Bad Credit Loans 

Are you under the impression that bad credit loans have nothing beneficial for you? Well, let us tell you some of the benefits of taking bad credit loans so you can stop worrying about the interest rate!

  1. No Credit History Check 

When you take a loan, lenders analyze your credit history to estimate your performance and financial condition. This credit check reduces your credit score, therefore, it should be avoided as much as possible. However, when you are taking a bad credit loan, there is no need for a hard credit check since you have already revealed your bad credit score.

In case of a bad credit loan, a lender is only concerned about your ability to repay the loan. For that purpose, they may ask about your assets, your monthly income, or your employment status. Therefore, you should have a stable income for at least a year to appear credible in front of the lender.

  1. In time payments improve your credit score 

When you take a bad credit loan, you have easier access to financial management essential that help you in repaying the loan. Moreover, it also indirectly helps you in increasing your credit score when you repay your debts timely and make appropriate budgets.

  1. Borrow large amounts of money 

Online platforms let you borrow huge sums of money even with a bad credit score. All you need to do is to appear credible and have a stable job to afford monthly loan repayments.

However, keep in mind that the interest rate increases with the increase in the loan amount, therefore avoid taking a loan that you do not really need.

  1. Flexible terms and conditions 

Taking a loan is not a difficult task; however, fulfilling the terms and conditions can be. But online bad credit loan lending allows you to compare offerings from multiple lenders and choose a deal that you can easily fulfill.

To get the most out of the deals, it is crucial that you thoroughly explain your emergency requirements and financial condition to the lender so they can present a deal tailored according to your circumstances. The condition that can usually be modified is repayment schedules, interest rates, and payment options.

  1. Get instant approvals 

Even if you have a bad credit score, there won’t be any deal in loan approvals. Online platforms such as MoneyMutual are quick and ensure loan approvals within 24 hours of submitting the application. However, you should never wait for the last moment to apply for a loan. If you think that you will be needing money in a few days, apply for a loan as soon as possible.

Final Thoughts On MoneyMutual


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Our detailed article on emergency loans ends here. We genuinely hope that you got answers to all your questions and are now ready to take out a loan whenever required. In case you find yourself confused, come back to the article and reread the information you might have missed earlier.

As we mentioned earlier, MoneyMutual is the best online loan lending platform, so if you have a bad credit score, and are urgently looking for some cash, MoneyMutual should be the first name to come to your mind. If you plan to use this platform, never forget to negotiate on the lender’s terms and conditions and finalize a deal that suits your requirements and you can easily fulfill them.

MoneyMutual is one of the best bad credit loan companies in America. We highly recommend them if you are in need of loans for bad credit.

=> Visit The Official MoneyMutual Website To Apply For Your Bad Credit Loan Now