$50,000 Loans

Are $50,000 Personal Loans Possible with Bad Credit?

Yes. However, the answer depends on a lot of different things, including how much debt you currently have and what your credit profile looks like. If you have a fair credit score you may be able to get a $50,000 loan with acceptable interest rates. If your credit score is 600 or up, your chances are much better.

Even if you are in the low 600's it may be extremely challenging to find someone willing to lend you $50,000 on an unsecured loan unless you've had a very clean credit history following whatever caused your credit score to drop in the first place.

That said $50,000 loans are possible for bad credit, however you most likely are going to end up in one of several "buckets" that may have less favorable terms and conditions for you.

The first bucket is someone that takes out a personal loan for $50,000 over the length of several years; in this case, you most likely have some of the best approval options because longer terms mean smaller month-to-month payments which might be necessary for some people.

The other option is a standard approval on a loan for $50,000 for a term like five years, but with poor credit generally comes unavoidable higher interest rates.

Are bad credit loans possible for 50k loans? While we are hesitant to tell you yes, it is going to be more challenging and you very well may have to apply to several lenders to find one willing to overlook a spotty history.