As consumer debt continues to rise, more people find themselves with a bad credit score. If you have a blemished credit record, it will seriously affect your chances of getting credit and when you need to borrow money from the banks with poor credit, you may find yourself in a position where you are constantly being rejected for signature loans with poor credit. Most banks are unwilling to provide 1 year personal loans with low fee for people with bad credit although there are some banks that give secured bad credit loans. Even then, you do need to have assets as collateral to get cash and if you don't, where can you borrow money for one year with no collateral and have bad credit?

Although bad credit may indeed make it hard for a borrower to find easy approval signature loans, there are alternatives to banks where you can find non-bank loan lenders with guaranteed 1 year signature loan with bad credit. When it comes to taking out finance from these private cash lending businesses, you should take note of a few things and understand how they differ from traditional lenders.

First things first. Even with very bad credit, some direct installment loan lenders will accept applications for 1 year signature installment loans from you. This is common amongst payday loan companies with no credit check since providing cheap loans for people with bad credit is the very reason that they exist, to fill a gap where high street banks have left. In many cases, you would not be disqualified if you want to get an easy signature loan for 1 year with bad credit.

There are a large number of private lenders that offer short term installment loans for 3 months, up to 12 months. Depending on how much money you request, unsecured 12 month installment loan may be available without the need for collateral. While long term loans with no collateral needed is naturally the preferred choice for people with no income and no asset (NINA), using collateral to get a 1 year installment loan can give you more bargaining power when negotiating the terms of the contract, especially with lowering interest rates.

People who need a large personal loan of $20000 with bad credit would likely be required to pledge collateral. For larger financing needs, you can use your car to get a personal loan with bad credit. Guaranteed title loans are available from banks and not to digress further, you can always find an auto title loan lender who can give you a quotation for your vehicle.

For the majority of those who do not have assets and need a one year bad credit loan under 1000 dollars, the most likely solution is an unsecured signature loan that you can pay back by monthly installments. As aforementioned, with no collateral, these guaranteed cash loans for 1 year will come with much higher interest rates, exacerbated by the long repayment term. Although the stress of paying high interest can be lessen by paying on a monthly basis, you have to justify whether it is worth handing over hard-earned cash into the hands of private loan companies, which critics claim they are no different from loan sharks.

Therefore, always consider the pros and cons of a 1 year personal loan that you can apply with bad credit. If it has to be done as you need overnight emergency cash desperately, it is important to ensure that the rates are affordable to you, and you would not face difficulties in making the monthly repayments.

Getting long term personal loans from banks with no cosigner needed tend to be possible only if you have a excellent credit history or anything that reflects at least 700 FICO score. But if you have poor credit and desperately need to borrow money with extended payback, finding long term installment loans with no credit check can be done and there are credit unions and finance lenders willing to offer anything from 6 months installment loans for bad credit, to 36 months loans with monthly payback terms.

Occasionally, in the presence of collateral, you may also be able to find banks that give installment loans with bad credit for people who wish to remortgage their homes but in this article, we try to focus on unsecured personal loans under ten thousand dollars and what is the best way to get money when you have bad credit.

As an example, in order to borrow 4000 dollars with bad credit through monthly installments. you would need to review every personal loan lender, get their loan quotes on bad credit installment loans and narrow them down until you can find the best loan lender with long term installment personal loans.

Do not let your lack of a good credit record discourage you from getting a cheap loan with no credit check because as long as you are not a bankrupt, blacklisted on the Chexsystems or anything equally serious, you should be able to find a legitimate loan lender that offers unsecured monthly installment loans for your financial needs.

If you are priced out from bad credit lenders with installment personal loans due to the higher APR, one alternative is to find banks that let you apply for personal loan with a cosigner. Where possible, you should find someone trusted who has good credit and with a high verifiable income as the latter will make it easier to get approval from the banks for loans above 10 thousand dollars with installments over 12 months to 5 years.

If you are a member with a local credit union, you may also wish to approach them to inquire more about any credit facility available for members. Most credit unions will be able to extend some form of financial help to you and there are some credit unions that offer long term monthly installment loans with no credit check.

Besides this, if you had been unable to get a personal loan previously because you do not own a bank checking account, you should definitely look at opening a savings account with no fee with a credit union due to their low deposit requirements. It is very difficult to find a commercial lender who can let you borrow money without a bank account so having a credit union savings account with no minimum balance required will provide you with more option in getting credit from the likes of online payday loan shops or cash advance lenders that require you to provide a routing number.

Summing up the question of where to borrow cash for long term, to find an installment loan with no credit check for 48 months or less, you can either find banks with low interest loans for bad credit, get a cosigner, take out a private personal loans with high interest or visit your local credit union today to get a long term loan with installments.