Loans for bad credit are financial products designed for individuals with low credit scores who may struggle to qualify for traditional loans. These loans typically come with higher interest rates and fees due to the increased risk lenders take on by working with borrowers who have a history of missed payments or defaults. Common types of loans available for those with bad credit include personal loans, secured loans (backed by collateral such as a car or savings account), and payday loans, which offer short-term cash advances. While loans for bad credit can provide much-needed financial relief, it's important for borrowers to carefully review the terms and conditions, assess their ability to repay the loan, and explore other options, such as credit counseling or budgeting assistance, to improve their financial situation over the long term.