Missouri Money: How to Get a Loan with Bad Credit in Missouri
34% of the American population have nothing in the way of savings.
That means, if an emergency expense were to crop up like unforeseen medical bills, 1 out of every 3 people would have no money to cover the cost.
Therein lies the importance of being able to take out a loan.
But what if in addition to having no savings you have bad credit? What are you supposed to do then?
Fortunately, if you live in Missouri and are wondering how to get a loan with bad credit, you have options.
Below, our team walks through some things you should consider doing and recommends services that can help you get the money you need today to build a bridge to a brighter tomorrow.
Know Your Credit Situation
The first step to determining where you should start your loan hunt is to get a full understanding of your credit situation.
Do you know your credit score? Do you know what's considered by lenders to be bad credit?
Credit agency Experian considers any FICO score lower than 579 to be poor. To find out if you fall in that range, you can pull your credit score for free via free online services like Credit Karma or request a free credit report from the country's leading credit bureaus.
Remember, understanding your credit situation is half the battle when you're trying to rehabilitate it and find lenders who will work with it.
Be Proactive in Improving Your Credit
The better your credit is, the more loan options you're going to have. That's why you should always be making strides to improve your credit situation when managing your money.
Low hanging fruit when it comes to improving your credit includes paying down your existing loans on time, ensuring your credit report is accurate, and clearing up any of your accounts that may be in collections.
You can explore more ways to improve your credit here.
How to Get a MO Loan With Bad Credit
Now that you know your credit situation and have an understanding of how you can work towards improving it, it's time to get the money you need now.
The best way to get cash fast when you have bad credit is to find a loan provider that specializes in working with applicants like you. Bad credit loan providers are either willing to work with bad credit or don't run credit checks at all!
Note that you will need to be over 18 years of age, have a checking account, and have a source of income to obtain any loan.
St Louis | Kansas City | Springfield | Columbia | Branson | Joplin
For a list of the best bad credit loan providers for Missouri residents, browse our directory!
Wrapping Up How to Get a Loan with Bad Credit in Missouri
If you live in the state of Missouri and need money fast, you may be wondering how to get a loan with bad credit.
Our recommendation is that you follow our tips above.
Understand, make a plan, and find a loan provider that's willing to work with you.
When you do those things, not only will you be able to find money today, but you'll pave the way to improve your financial situation for years to come!
Browse our directory of poor credit-focused lenders and read more in our learning center today!
Missouri Consumer Lending Information
The consumer protection provisions of §§408.551-408.562 do apply. Since consumer installment lenders are actually a special category of consumer credit lenders, the regulations found in 20 CSR 1140-5.010 and 20 CSR 1140-5.020 are generally applicable. The provisions of §408.170 are incorporated by reference. Learn more...
Missouri Division of Finance
Truman State Office Building
Jefferson City, MO 65102
(573) 751-9192 (fax)