There are many reasons that you may need a loan, but if you have a bad credit borrowing money becomes a herculean task. Although the situation might seem tricky it is not unworkable. So how will you determine whether you are eligible for a loan based on your credit score?

According to the FICO Score credit score of 620 or below 620 is considered a bad credit score. As it may take eons to fix your credit score, lenders who accept borrowers with not-so-good credit scores are the ultima ratio. Fortuitously, there are plenty of options for availing personal loan with bad credit score. Here we have a compiled a list of loans compatible with people with bad credit score or no credit score at all.

1. Installment loan
Unlike a credit card, installment loans do not allow you to increase the balance in the future. Instead, they set a number of installments scheduled to be repaid over a term of few months to few years.

2. Payday loan/Cash advanc...