The first step to get a loan with a bad credit is to improve your credit score so you can comfortably afford the loan you need.
Start by making on-time payments, especially on credit cards; and reduce the balance on cards to under 30% of the credit limit allowed. Finally, don?t apply for any new credit.
The combination of those three factors ? on-time payment; low credit utilization; no new credit applications ? account for 75% of your credit score. It?s not unrealistic to think that making an effort on those three fronts could raise your score by 100 points in as little as 3-6 months.

Darryl founded Smith Financial Advisors Inc. in 2006 after over 30 years experience in financial services including Mergers & Acquisitions, Investment Banking and traditional Commercial Banking activities at Bank One. Smith Financial Advisors is a Registered Investment Advisor in the State of Illinois. The firm specializes in Investment management, financial planning, and retirement planning.