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If you need extra money, where do you get it from? Do you have friends or family that you can borrow it from? Or do you get payday loans, bad credit loans, and a cash advance if you have run out of money?

So many Americans rely on emergency loans when they are short on cash. Emergency loans have become very popular and these companies that offer them are on occasion advertised by “A” List celebrities like Montell Williams - the famous daytime talk show host. Here is exactly how an emergency loan works.

An emergency loan is a rapid transfer of funds that takes place in about 24 hours to help you get through a tough spot. Just like any type of loan, there will be an interest rate as well as terms and conditions.

But what is the difference between emergency loans and bad credit loans?

America’s Number One Bad Credit Loan Company:


EDITOR’S MESSAGE: In this article we use the term “loan-lending". We are not making a claim that they will lend you money directly. Instead it is their job to provide you with many lenders that you can choose from. Once you have chosen the lender you would like to work with you then negotiate with them directly your payday loan or bad credit loan.

1) Moneymutual

MoneyMutual is the nation’s leading bad credit loan provider. In the past they have been known to provide payday loans, emergency loans, loans for bad credit, as well as issue a cash advance for a borrower if they needed one. MoneyMutual has an excellent online portal which makes applying for a bad credit loan very simple to do.

Bad Credit Loans Are Easy To Get


The loan application process takes about 5 minutes in total with MoneyMutual. They have a very advanced, and user friendly online portal that borrowers can log onto. It is easy to use and takes a matter of minutes. Once you have applied, and as you are going through the application process you will see that you are able to apply for different loans. These loans can often include payday loans, installment loans, and bad credit loans.

MoneyMutual Has Over 39 Bad Credit Loan Lenders


At any given time - MoneyMutual has over 39 bad credit loan lenders. All of the lenders provide you with complete disclosure to their terms and conditions. Once you have met their criteria of:

  • being 18 years old or more
  • earning at least $800 a month
  • having a checking account

You are then eligible for an emergency loan. If there are any additional requirements that your chosen lender needs you to fulfill, that will be up to you. Remember that once you have chosen your lender you are the one who is going to negotiate with them directly. Anything from interest rate to loan term - you will be sorting that out directly with your chosen lender.

MoneyMutual has a strong reputation in the loan industry. Their reputation is very strong because of their safe and secure online loan application process. If you are a person with a bad credit report, you can apply for a bad credit loan in the comfort of your own home. This is how easy MoneyMutual makes it….

To review, a bad credit loan can be applied for wherever you feel the most comfortable. Often we find that it is in the comfort of your own home. Just as long as you have internet access, you are able to jump on the MoneyMutual online portal and apply away. It is really that easy! Bad credit loans made easy. That is what MoneyMutual is all about.

How Much Do Payday Loans Cost?

The Annual Percentage rate can vary from about 5% all the way to 25%. The more common term used to describe the Annual Percentage Rate is - APR.

MoneyMutual does not charge a fee for you to use them. Their job is to connect you directly with many bad credit loan lenders. Once they have connected you with the right lender, and once you have the ability to access an emergency loan, their job is done.

Here is an important piece of information if you are interested in getting an emergency loan. Since the website only plays the role of bridging the gap between borrowers and lenders, once you qualify for and select a loan, you then get the opportunity to negotiate with the lender directly.

Loan amounts that you can take out from bad credit loan lenders can vary quite a bit. They can range from $5,000 to $35,000, depending on a number of variables. Interest rates, as stated previously, can differ depending on the lender, but that of payday loans can be considerably high, ranging from 200% to 1300%.

Are There Any Limits With MoneyMutual Loans For Bad Credit?

As you are well aware of by now MoneyMutual is a ‘go-between’ in the lending process and helps connect consumers to potential lenders. As such, they do not have a say in the terms and conditions of the loan-taking process. These terms depend on the lenders and can be directly negotiated with them.

If you are wondering about the type of loans that Money Mutual can offer here is some information for you. MoneyMutual can offer three kinds of loans, which can include:

  • payday loans
  • cash advances
  • bad credit loans

Payday loans are the easiest to get with low qualification criteria; however, they usually have high interest rates.

People who seek an emergency loan sometimes like getting a cash advance. A cash advance allows you to get a loan in cash other than that of your bank account and gives you the option of paying it back by your next paycheck or in installments. Bad credit loans are also provided if you qualify for the bare minimum criteria.

Money Mutual is a flexible organization, no doubt. They can aid with emergency funds in so many different scenarios. It is really up to you to pick which lender is the best fit for you.

Pros of Bad Credit Loans With MoneyMutual

  • Fast application process that takes approx. 5 min
  • Lots of loan types to choose from
  • Secure website so you don’t have to worry about identity theft
  • Smaller loans as little as $300 which are very popular
  • Larger loans up to $35,000 which are more rare but easy to get if you provide all of the necessary documentation, and you qualify.

Cons of Bad Credit Loans With MoneyMutual

  • The individual borrowing the money must earn at least $800 a month to qualify. Many people express that this is the largest downfall of Money Mutual. In that people who make less than $800 a month cannot qualify for a loan.

⇒Visit the Official Website of MoneyMutual for More Information

Is Money Mutual The Best Emergency Loan Provider For People With Bad Credit Reports?

When you sit there and think of it, there are actually so many bad credit loan companies to select from. MoneyMutual has been giving bad credit loans successfully to Americans all across the country. But what is it that makes MoneyMutual the company for bad credit loans?

  • MoneyMutual has a reputation as strong as steel

MoneyMutual is one of the best in the lending landscape. Before you take out the loan, be sure to look through the company's consumer review section. In this section you will be able to read about other borrowers who have been able to get emergency loans. Don’t forget that people who use Money Mutual often leave reviews stating that they had an excellent customer service experience.

  • What Sort of Terms And Conditions Exist For MoneyMutual?

MoneyMutual is a very forward thinking company. That is because they deal with so many lenders. Remember, the interest rate as well as the terms and conditions will be specific to each lender. Therefore, when you choose a lender of your liking, be sure to understand what their terms and conditions are, and be sure to understand what the interest rate is.

  • Does Money Mutual actually transfer funds quickly? Or Is It A Myth?

Emergency loans are valuable to the borrower when and only when they are delivered by the lender very fast. Lenders who can deliver loans in a speedy manner are the ones that you should look for.

It needs to be delivered quickly because they are in a time of need, and they need the funds fast. A lender who delivers emergency funds slowly to a borrower would have no value to that borrower. Therefore, if a lender tells a borrower that they will receive emergency funds from them slowly, then that borrower will not choose them.

  • What is Money Mutual hiding?

Some bad credit loan lenders try to sneak in those pesky hidden fees. If you are not sure what we are referring to , ‘pesky fees’ means that borrowers can get stuck with high interest rates or large loan set up fees. With MoneyMutual, each of their 60+ lenders details their terms and conditions of their loan. As a borrower, make sure that you review the terms and conditions of the lender that you select.

Important Information To Know On Bad Credit Loans Payday Loans And No Credit Check Loans

Please read this next paragraph very carefully - it’s probably the most important part of this entire review. The typical documents that a lender may ask for as proof of your earnings can consist of a:

  • Payslip
  • W-25
  • copies of tax return records for the last two years
  • 1099s

As such it is a good idea to keep the latest bank statements on hand and the phone number of your employer, in the event that you need to contact them in order to get these documents. You are going to have to prove your address and prove your ID as well. The proof of identity may include your driver's license, State Identity Card, or even a utility bill will do the job sometimes.

How Quickly Do You Need To Pay Back A Bad Credit Loan?

This may not seem like a natural thing to do, but here is a tip we would like to share with you. If you let the lender know why exactly you are in need of an emergency loan, this will go a long way. By doing this action, you are painting a picture for them, that will help them gain a better understanding of who you are. If you have any documents that you can provide to the lender, this can help as well. By doing this, you are showing the lender what exactly the funds are being used for.

Lenders are expecting that you will pay them back. They examine your debt to income ratio to see what sort of capacity you have to repay the loan. Your credit score also matters here.

The next step is searching for the best lender for yourself. Once you have found the right lender, it is time to undergo a soft credit inquiry. A soft credit inquiry has no negative impact on your credit score.

The hard credit check is applicable only when you finalize an application or offer for a loan. You generally do not want to have your credit pulled too many times as that can have a negative effect on your overall credit score.

Read the terms and conditions of the offer carefully before signing it. Make sure that you are able to pay back the loan that you are borrowing.

Are Payday Loans Worth It?

Here is a little secret we would like to share with you. That is, you can get a payday loan regardless of your credit score. Although this is the case, we don’t recommend this option. Payday loans can be extremely expensive to pay back, and often come with unfavorable terms.

Payday loans may seem like a good idea when you first consider them. However, as you explore further, you will see that they are not a good option for you. This is because the annual percentage rate of interest is excessively high (up to 300% to 400%). Also, if you fail to pay according to the given schedule, you will have to pay extra charges and fees.

Within the Money Mutual platform, you are able to view many lenders. You have access to over 60 lenders in fact. Look and see which lender best suits your needs. Look to see what their interest rates and terms and conditions are. Do not go with a bad credit lender that offers you unfavorable terms. Rather, select a bad credit lender that will offer you terms and conditions that you are okay with.

What Exactly Is A PayDay Loan?

It is very likely that you are looking at a payday loan if a lender presents to you a loan that resembles some of the description below:
  • Amounts are small
  • The repayment schedule is short.
  • APR is very high.
If you observe one or two of the variables above, there is a good chance that it is a payday loan.

Important Things To Know About Bad Credit Loans

  • Many lenders offer bad credit loans
  • You are able to negotiate your terms and interest rate directly with the lender
  • Payday loans are different from bad credit loans
  • Payday loans often come with higher interest rates and less favorable terms
  • Bad credit loan lenders often get mistaken for payday loans lenders
  • Even if you have a bad credit report you can still get a bad credit loan
  • MoneyMutual is a middleman - they are not the actual lender
  • MoneyMutual has an advanced and user friendly online platform
  • A List celebrities like Montel Williams have been promoting MoneyMutual for years
  • Americans all across the country get emergency loans every day
  • Bad credit loans are good for you if you meet the minimum qualification score

Frequently Asked Questions About Loans For Bad Credit

Q1. What Credit Score Does FICO Consider As Fair?

It is a score that ranges from 600-660. To manage your expectations, do not consider this to be a good credit score. Also, if your score falls even a point below that, it would be considered poor. Therefore, we can say 600 is a borderline credit score.

Q2. If You Have A Bad Credit Report Can You Get A Massive Sized Loan?

Did you know that you can get up to $25,000 online from a variety of lenders? They will just charge you higher interest rates. It is doable. It just comes down to the interest rate in many of these cases, along with the terms of the loan that is being offered by the lender.

If you need $500 and only $500, then we recommend that you apply for only $500 and no more. It is important that you are able to repay your bad credit loan. Also remember that smaller loans are approved more frequently by these bad credit loan companies.

Q3. Which Is Better Online Lending Or Conventional Lending?

Online lending makes it quick and easy for you to apply for a bad credit loan from the comfort of your own home. It also saves you from undergoing several hard credit inquiries. Also, these platforms offer you good interest rates compared to other platforms.

Lastly, the best thing about online lending sources is that their lenders report your performance to credit bureaus from time to time, which may help you in raising your credit score.

Q4. What Is The Best Online Lending Platform In 2021 or 2022 For Bad Credit Loans?

Without hesitation we strongly recommend MoneyMutual as the number one lending platform in America.

Final Thoughts: Are Payday Loans And Bad Credit Loans The Same Thing?

Like it or not, online loan platforms are finally here to stay for good! Unlike conventional lenders that require a lot of written applications, in-office or in-person meetings, and endless investigations, online platforms allow you to get funds transferred to your account in a matter of 24 hours without any hassle.

Money Mutual has another important function. They can help you pave your way towards a good and even excellent credit score by reporting your timely monthly payments to credit bureaus.

We are pleased with the work that MoneyMutual does and we are happy to be a strong supporter. We have no problem stating that they are the best emergency loan provider since they allow you to apply for an emergency loan in confidence, and in the comfort of your own home.

We love it very much when readers take the time to read our detailed reviews. If you are in need of an emergency loan and are looking for a bad credit loan, you will be very pleased with MoneyMutual. Also, don’t forget to leave a review if you have a great customer experience. We have no doubt that you will!

=> Visit the MoneyMutual Official Website For More Information

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