Investopedia conducted extensive research to identify the best personal loans for individuals with bad credit. The analysis involved evaluating 59 lenders, including banks and credit unions, based on various factors such as annual percentage rates (APRs), loan amounts, terms, fees, and customer experiences. To ensure an unbiased selection, Investopedia considered feedback from hundreds of borrowers regarding their experiences with lenders. The research took place from July 23 to October 18, 2024, and involved assessing 45 criteria grouped into four categories: Borrowing Requirements, Lender Features, Loan Costs, and Loan Terms. Each category was weighted according to its importance to readers, with Loan Costs receiving the highest weight at 30%. The goal was to provide readers with a trustworthy and comprehensive list of bad credit loan options, ensuring they have access to the best possible financial solutions tailored to their needs.
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