Bad-credit loans are for borrowers with low credit ratings or a credit history that is limited. Oftentimes, individuals end up getting low fico scores due to missed payments, bankruptcies, or debt that is heavy — or since they have actuallyn’t had sufficient time yet to determine a credit score. Signature loans are far more difficult getting when you’ve got bad credit. But lenders that are many offer them — plus some even focus on bad-credit borrowing.

What exactly is a bad credit rating?

Each credit scoring agency defines a bad credit history differently. But also for our purposes, we’ll relate to FICO fico scores right right here. FICO ratings are between 300 and 850; the higher your credit, the greater your score. (more…)