Got a bad credit rating? If you have then you better make sure that you don't get yourself into a situation where you need to get a hold of cash in a hurry because the only options open to you if you don't have a friend to help you out will be credit products which carry a high price.

Loans for people with bad credit are easily available these days in the form of payday loans or, if you own a car, a log book loan. Both these products charge extremely high interest rates because the lenders know they can get away with it. Not only that but with a log book loan you have to put your vehicle down as collateral and will lose it if you fail to repay on time.

The only answer if you have a bad credit rating is to make sure you don't get into an emergency financial situation where you need to rely on one of these lenders. Put aside a little money every month in an easily available current account where you know you can get it when the need arises.