Are you interested in getting loans, even though you have bad credit? Many people often find themselves in a jam or need investment money for a future gain. Finding inexpensive loans can be difficult. Here are some tips for receiving in person or cheap online loans.

First, consider asking a relative or friend for a personal loan. This comes with caveats, of course. If something goes wrong and you cannot repay, you might seriously damage your relationship with this person. So this is more practical for smaller sums that you can feel reasonably sure you will be able to repay. Agree to the loan in writing and establish a low interest rate, in order to make them feel more comfortable.

Second, double check your credit score. With bad credit, it can indeed be difficult to get a loan. What many people do not realize is that the majority of credit reports actually do have some kind of mistake in them, and that in a a certain percentage of cases, this is actually enough to lead to a credit denial.

Third, you can first try getting a loan by your bank, or the bank or credit union of your employer. A bank might be judicious in allowing you a loan if you have shown good standing in the past, and an employer bank knows that they can take their money from your paycheck if you do not pull through.

Fourth, you can search for cheap online loans. The benefit of taking your search to the internet is that you have an entire world of loaners competing for your business, so it is unlikely that you will be ripped off so long as you take the time to research several cheap loans online. Keep in mind, however, that it is especially important to read the fine print, since you are dealing with a more unknown entity than a friend or your local bank. Make sure that after you contact an online loan center, you also follow it up with phone call. If they have trouble talking to you via the phone, look for a different loaner.

Fifth, if you do decide on cheap online loans, make sure to see if there are any complaints with the better business bureau. Also look online for reviews on cheap online loans to see if customers felt their service was fair.