 TITLE: Can You Get a Personal Loan With a Credit Score of 550? CONTENT: Alternatives to Personal Loans When You Have Bad Credit\n-------------------------------------------------------\nIf you're having trouble getting approved for a personal loan or find you're only getting approved for loans with unreasonable rates and terms, consider a few alternative financing options:\n*   **Credit cards**: While credit cards often have high interest rates, sometimes the APR on a credit card will be lower than what you'll receive with a high-rate personal loan. Also, see if any of your credit cards have temporary 0% APR offers, which could make them a low-cost option if you pay off the balance before the interest rate offer ends.\n*   **A paycheck advance**: Some companies let you take out a payroll loan, or advance on your next paycheck (without the high rates that payday loan lenders charge). There are also early payday apps that could give you low-cost advances or small loans.\n*   **Friends and family**: If you're in a jam and need help with a one-time bill, getting a small loan from friends or family members may be an option.\n*   **Debt management plans**: A debt management plan might help if you're struggling with lots of credit card debt. A credit counseling agency will work to get fee waivers and lower monthly payments on your credit cards, helping free up extra cash for your monthly budget. You will make one monthly payment to the credit counselor, who will distribute the money to the card issuers. However, you may need to close your credit card accounts.\n*   **Financial assistance programs**: Look to see if you qualify for nonprofit or government assistance programs. These might not offer you a loan or direct cash assistance, but could help decrease your expenses.\nAdditional options depend on why you need a personal loan. For example, if you need money for rent, you might want to ask your landlord for an extension or see if they'll lower your rent in exchange for working on property repairs or maintenance. Or, if you're struggling to afford a medical bill, you may be able to negotiate a low- or no-interest payment plan with the health care provider. END