Late payments on past loans can play a crucial role in obtaining a new loan. Each time a borrower applies to a bank, the lender checks it through special services. This is how the lender learns the potential liability and solvency of such a client in the payment of the new debt. Read on to find out how to get a secured personal loan bad credit.

Go to Broker

A visit to an intermediary company will help to get a loan even with a very bad credit history. These people provide various services on the issue of credit, for example:

  1. They help to understand the profitability of credit products available on the market;
  2. Assist in completing the borrower questionnaire;
  3. Answer all your questions;
  4. They make recommendations regarding the sources of financing of persons with damaged credit history, make a comparative analysis of banks, etc.

The broker can organize a deal with the lender. Privacy policy in such companies is generally respected. However, please note that the services of these assistants are not free. The average cost is 1-1.5 of the total loan amount.

Credit Card Application

Getting a cash loan with a bad credit history is more difficult than getting a credit card. They will not give a loan for cars to persons with damaged credit history, but if you need an urgent bank loan, you have chances to get it.


Microfinance organizations are famous for their loyalty, flexible approach to borrowers, and attractive loan terms. There, you can borrow money in different ways, for example, by getting money exactly to your bank account or electronic wallet. 

MFO visitors receive small microloans without any difficulties. All you need is a passport and a mobile phone. It is possible to fill and receive money entirely online. Microloans from MFIs are quick and convenient, but expensive. The interest rate is 0.5-3 per day, and late charges are subject to big fines. Regular customers of the company can apply for discounts.

Secured Personal Loan

If bankers refuse to issue a loan because of bad credit, you can offer them a vehicle or real estate as security. It is important that this value belongs to you. In this case, the terms of lending will be more profitable compared to standard programs. Besides, do not forget that you have a bad credit history and the lender has the right to secure itself.


A loan is a great opportunity to solve various kinds of financial difficulties, but this is a serious responsibility. Therefore, you should not get involved in debt having a low income. Before applying for a loan, weigh all risks, calculate overpayments, the amount of the monthly payment and read the agreement carefully. 

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