Everyone makes financial mistakes at one point or other during their lifetime.  They also deserve a second chance to make things right.  Sometimes families experience financial difficulties due to circumstances beyond their control, such as job loss, medical bills, or some type of unplanned expense.  They deserve a chance to help them out of the hole they find themselves in.  That sums up the mission statement of lenders who approve loans for people who have bad credit.  They do business on the premise that if you have faith in someone, that person will do everything in their power to live up to your expectations.  Lenders who approve loans for bad credit histories are putting their faith in the borrowers that they will keep their word and pay back the loans.  The majority of borrowers are so grateful to have a loan approved, they make their payments and reward the lender for taking a chance on them.