Bad Credit Loans

Quite often Americans do not need additional financial means for emergency expenses. But the thing is that banks set very strict borrower eligibility requirements for potencial lenders. That is why they usually reject applicants with bad credit history. Where can you get a bad credit loan? There is a way out – you can apply for a payday loan in Connecticut via our online referral service and get money as soon as the same day.

What is credit history?

Credit history is a record of your ability to repay loans and demonstrated responsibility in repaying them. This is information that is used to assess a potential borrower. It contains data about:

  • when you borrowed money and for how long;
  • whether you were the co-borrower or guarantor;
  • whether you repaired your loans on time.

Before making a loan decision, banks send a request to the credit bureau to obtain a report on the client’s solvency. This report is important and significantly influences the bank’s decision. If the client’s credit history is good, the bank is likely to improve your request. But if you have a low credit score, you are likely to get rejected.

What are the causes of a bad credit history?

Bad credit history may be caused by errors of institutions carrying out mutual settlements with you.

For instance:

  • information on debt closure was not received by credit bureau;
  • the payment documents contain erroneous details;
  • other people’s loans are recorded in the chronology;
  • there is a repeated record of former loans.

The reputation of an accurate payer can be tarnished through your fault.

This happens if you have:

  • open loans;
  • unpaid alimony;
  • late payments.

Being on trial or under investigation now or in the past can also damage your rcredit score. The presence of one or more items from this list is a serious obstacle to obtaining another bank loan. But not an obstacle to getting a payday loan from a microfinance institution from our network.

How do I check my credit score myself?

You’re entitled to a free copy of your credit reports every 12 months from each of the three nationwide credit bureaus (TransUnion, Equifax, and Experian) by visiting You can also create a myEquifax account to get six free Equifax credit reports each year.

Can you get financial help with a bad credit history?

Yes, today there are alternative ways to get money in Connecticut. For example, you can contact microfinance institutions. Their difference from banks is that they are loyal to the credit history. In addition, the MFI’s application is considered within a few minutes, and the client receives funds almost immediately. That is, almost everyone will be able to receive help from such organizations. It is also worth considering that the loan terms may vary in different microfinance organizations.

Regardless of bad credit history, you can apply for a payday loan via our referral service and get approved. You must comply with certain borrower eligibiltiy criteria:

  • be at least 18 years old;
  • have a steady income (sages, scholarship, pension, social benefits, etc.);
  • have some kind of identity verification;
  • have an active bank account.

In some cases, microfinance companies may request some additional documents to verify your identity and income.

Since the borrower requirements are relaxed, almost every person can get a payday loan. So money can be borrowed not only by officially hard-working people but also by pensions, students, self-employed people, freelancers, disabled people, etc.

What are the most common loan purposes in CT?

Many people believe that bad credit loans are demanded only among people in difficult financial situations. But in practice, Connecticut residents take such loans for a variety of purposes:

  • Current urgent needs – 30%
  • Purchase of household appliances and electronics -18%
  • Housing, car repair – 12%
  • Gifts for the holidays – 15%
  • Tuition fees -5%
  • Repayment of other debts – 10%
  • Starting your own business – 2%
  • Other targets – 8%

How to borrow money online with bad credit history

You can get a payday loan online in CT even if you have a loan credit score or no credit. All you need to do is to submit an online application. The second option is simpler, more convenient and more rational so that a potential client can apply for a loan at any time, around the clock.

Follow some simple instructions:

  1. Fill out a short application form online;
  2. Get matched with the right lender from our network;
  3. Review the loan offer and decide whether the loans and rates suit you;
  4. E-sign a loan agreement and get money. Funds are usually credited to the borrower’s bank account as soon as the same day.

Microfinance organizations usually work around the clock. In most cases, applications are processed automatically, therefore, the lender’s decision comes in a few minutes.

How to increase the chances of getting a bad credit loan

Below are a few tips that can improve the likelihood of getting accepted for a bad credit loan:

  • try to provide as many documents confirming your identity and income as possible;
  • do not request the maximum loan amount. Start with small amounts.

How to improve your credit history

It is quite difficult to fix a poor credit history, but still it is quite possible. There are several options for this:

  1. Take out several small-dollar payday loans in a row and repay them on time. This way you can prove yourself to be a reliable borrower. Over time, your credit history will improve, and the banks’ confidence in you will grow. The best option would be to contact a microfinance organization. In addition, you can take out small personal loans for the purchase of furniture or appliances. Almost every large store today has a department in which representatives of several banks work at once. Most often, such applications are usually approved;
  2. Repay the loan ahead of schedule. If you have free funds before the loan expires, it is better to pay your debt immediately. At the same time, do not forget to ask the lender to recalculate the interest. In this way, the overpayment can be reduced slightly;
  3. Get a credit card. With its help, you can pay for purchases both in regular and online stores. If you manage to pay off the debt during the grace period, then you will pay no interest. The main thing is to use your credit card correctly and deposit funds until the end of the interest-free period. If you did not succeed in doing this, then try to make at least small payments. Such a card can be used as a debit card, that is, you can keep your own funds on it. However, many banks charge interest;
  4. Never try to hide from the bank. If you were unable to make the next payment due to delayed wages or any other circumstances, you must immediately notify the bank employees. Banks are interested in you staying as their client for as long as possible. You can provide an unemployment verification letter, sick leave or other document confirming the impossibility of making a payment right now;
  5. Wait for some years. Information about you is stored in the credit bureau for no more than 7 years. Banks, on the other hand, request data only for the last few years. During this time, you can improve your financial well-being and get several small-dollar loans. This will improve your credit history;

But it is not worth resorting to any tricks in order to outwit the bank employees. Your deception will certainly be revealed, and your credit history will be completely ruined. Moving to another city or changing your identity document will help you get rid of debt. You should also not contact firms that offer debt relief services.

Advantages of bad credit payday loans

Applying for a bad credit loan in Connecticut through our referral service has a number of advantages:

  • Bad credit is ok;
  • No paperwork;
  • No collateral;
  • Best lenders in the network;
  • Easy online application;
  • Fast lender’s decision;
  • Flexible loan terms;
  • Same-day funding;
  • Several repayment options;
  • Money for whatever needs;
  • High approval rates – over 93%;
  • No hidden fees;
  • Affordable interest rates.


Bad credit history is not an obstacle to getting a payday loan. Moreover, such loans are as a reliable tool for improving your credit history, thanks to which you will be able to cooperate with banks in the future.