Nowadays, it is extremely easy to get loans even if you are unemployed but the problem comes in when this is combined with bad credit. However, it is still possible to qualify for credit financing as some lenders are now offering loans for the unemployed with bad credit but these loans are very expensive. Most of these lenders even offer their services online which is a very great way of ensuring that the applicant gets the funds quickly.These loans can be in two forms namely:Unsecured loans- these are loans for the unemployed with bad credit where one is not required to offer security on the amount being applied for. The lenders are therefore left in very risky situations on giving out funds on these loans but they try to keep these low by:âEUR¢ Giving out these loans in small amountsâEUR¢ Allowing the applicants only short durations to make full repaymentsâEUR¢ Giving out the cash under very strict terms and conditionsâEUR¢ Allowing the applicant very high interest ratesSecured loans- for these loans for the unemployed with bad credit, the person applying for the funds has to offer some valuable asset for him to get the cash. The pledged asset acts as security which the lender can use to get the amount loaned out if the borrower is unable to repay the loans fully. The person involved should therefore follow all the agreed terms and make prompt repayments else he will lose the asset that was pledged.Can you apply for the loans online?Now that a great number of individuals are using the internet on daily basis, most lenders have made application easy by allowing people to apply for loans for the unemployed with bad credit online. This also ensures that the funds are sent to the applicant fast making it very convenient to sort the financial need in hand. Most online lenders avail the funds within hours of application and you can even have the funds on the same day you table your application.The only problem with online application for loans for the unemployed with bad credit is the great exposure to lending scams by greedy individuals out to extort money from innocent applicants. You can tell whether you are dealing with a legitimate lender by having a look at the lender's website and going through the reviews posted there. This will also help you to choose a reputed lender who will give you some easy time until you clear your loan.