In Canada, having bad credit can be a huge hindrance when getting a loan. Fortunately, some financial institutions cater to those with poor credit by providing loans to them. Although bad credit loans have their uses, they also carry risks if you don’t use them wisely. The primary step in taking out a loan is thoroughly studying the terms and circumstances. It would be best if you were sure that you could afford the monthly payments before applying for a bad credit loan, as they are typically higher than those of more conventional loans. When signing any documents related to a loan, be sure you have read and fully comprehended…