The fact that banks are rejecting more loan applications than in previous years is down to the poor state of the economy. But that is not to say that those of us with poor credit ratings are unable to get any form of funds. When the required criteria are met, then even unsecured personal loans for bad credit management are within reach.It might not seem unfair that traditional lending institutions are turning applicants down, but their policies have been tightened up because of the credit crisis of the last 4 years. But securing loan approval with bad credit is possible because there are alternative loan sources, not least online lenders.But as with all loans, the specific loan terms are what make it affordable or not. This is where chief attention should be paid, and should be the basis of your decision on whether to accept an unsecured personal loan package. But what are the best terms to seek and the important steps to securing them?1. Know Your Credit StandingThe first step towards getting the best terms on your unsecured personal loan for bad credit is to know what entitlements to expect. This is based on the credit score already secured, and how that affects the terms of the loan. For example, a very low credit score will mean a high interest rate is going to be charged.A credit score adjusts according to loan repayment habits, with those that fail to keep to a schedule seeing their score lower and interest applied on loans reach a much higher rate. However, the score can be reviewed, with any faults spotted in the score leading to an improvement, and a greater chance of getting loan approval with bad credit.However, it is important to note that credit scores are not the hugely influential facts that ensure an unsecured personal loan is approved. These aspects include the amount of guaranteed income, and the available space in the debt-to-income ratio.2. Avoiding Payday LendersThere is no denying that payday loans are the most reliable financing option, with repayment guaranteed directly from a paycheck. It means that lenders are fully confident they will get their money back. When it comes to getting an unsecured personal loan for bad credit purposes, then it is an good choice – at least in that regard.There are too many problems however, to make it an excellent choice all round. For a start, a payday loan causes more trouble than it solves. This is because the interest rate is very high (30%), and with the whole loan repaid in one go, a huge chunk of a paycheck is gone. So, even if loan approval with bad credit is all but guaranteed, there may not be enough to meet regular monthly obligations too.Another problem is that the loan sum is pretty small, usually limited to $1,500, so the impact it can make on a debt is minimal. Getting an unsecured personal loan means a larger sum to clear more debts, and a better repayment schedule.3. Choose Online LendersThe best deals are available online, and getting an unsecured personal loan for bad credit management from online lenders is pretty standard. That is because those lenders specialize in loans to people with low credit scores. The only issue is finding the right lender.The best terms can be easily found by searching through a comparison website, where analyzing the rates of interest and lifetime of the loans can be checked out quickly and easily.But even if a lender offers guaranteed loan approval with bad credit it is essential they are checked out on the BBB website. An unsecured personal loan is much better than a payday loan, but not if the lender is unscrupulous.