Bad credit personal loans are available to those with poor FICO or credit scores. Depending on the collateral a person may have, most personal loans for bad credit are secured with collateral. Hard loan lenders offer loans based on property or land ownership and the viability of that property in the case of a default. They typically charge higher interest rates than traditional lenders. Personal loans from people you know may also be an option depending on the amount and time needed to borrow the money. Those with bad credit can also decide to get a payday loan, which is a short term solution secured by an upcoming paycheck. While bad credit does not mean you cannot get a loan, it does restrict your options and may require searching to find the right fit for your situation. Consider the interest rates and what you may lose if cannot make the payments.