While signature loans are unsecured finance that you can often qualify for with sufficient income and a good credit history, if you have bad credit a shared secured loan is likely to be a better option. Rather than being an unsecured loan, a shared secured loan uses the balance in your savings account to back up the loan. Should you default on the loan, the lender can recover the loan balance from your savings. This can help you to rebuild your credit score, as you have a better chance of qualifying, since there is less risk for the lender.