Have you earlier taken loans and failed to repay? If yes, you are a borrower with bad credit against your name. Any lender who will provide you a loan is likely to ask for high interest rate. How high the interest will be? It depends on how much bad credit score do you have and what is the enormity of your adverse credit situation. It also depends on whether you are pledging your home for a loan or not.
As a tenant, you have no option but to ask for unsecured loans. However, if you are a homeowner you can pledge your home and give an assurance to the lender that money would be repaid or else he can repossess your home. In the later case, there are very good chances of you getting bad credit loans at competitive rates. But, if you are a tenant, it becomes very difficult to get bad credit loans. If you still want a loan, ask any sub-prime lender who may provide you a loan but only at high interest rate.
Loans for bad credit people are available in the sub-prime loan market. This market primarily caters to those people who have a bad credit history or who have defaulted in repayments in the past. Such people usually apply to sub-prime lenders and ask for bad credit loans.
There are many online lenders who provide loans for bad credit people. These loans can be used for several purposes depending upon your requirements and necessity. It is an opportunity for you to set right your credit record. If you take a loan and ensure timely repayments, it will help you in improving your credit history. A new credit record will replace the old one with the passage of time and you would be able to get rid of your bad credit history tag.