In order to obtain a loan, traditional lenders will require that you have a job with sufficient income as well as reasonable credit. If you have bad credit, it is a good sign that you might want to delay obtaining a loan until you can improve your credit rating. Taking on a large debt balance at a high interest rate is never wise, especially if you are at a lower income level. I would encourage you to delay obtaining a loan if possible until you can improve your credit and possibly your savings as well. Paying off delinquent accounts can improve a bad credit rating. Also, consider utilizing a secured credit card
if you have no recent open credit accounts.