Bad credit scores give us plenty to worry about, but our fear is low credit ratings are not well-founded, and there are options out there. A long-term personal loan for bad credit management can be attractive to a lender, and with the right terms can be an affordable route for a borrower to a stronger financial status.Typically, the success of a loan application is dependent on meeting with lender criteria. Indeed, getting loan approval has very little to do with credit scores, and is more heavily influenced by income, the debt-to-income ratio and the general affordability of the repayments. A low score is no reason enough to believe rejection is guaranteed.But there is little doubt that the type of personal loans sought is a key element of the equation too. There are some steps to take to ensure that the loan is affordable. In doing this, the chances of approval are greatly increased.Making a Loan AffordableThere are a number of elements in a loan agreement that makes it either affordable or not. Basically, it comes down to the size of the monthly repayment, and this is where a credit score has some influence. For example, a long-term personal loan for bad credit is much more affordable than a loan repaid over a short period of time.This is mainly because the longer the term, the more ways the loan principal is divided up, so repayments are lower and getting loan approval is made easier. For example, a $20,000 loan repaid over 3 years will cost around $575 per month, including interest. But over 10 years, will cost just $175, making the loan much more affordable.In terms of interest, a credit score is used to decide on the rate to be charged – the lower the score, the higher the interest rate. But while a long term personal loan does mean a lower monthly repayment, the amount of interest paid over the lifetime of the loan is much higher.The Long-Term AdvantagesIt might seem that because repaying a loan over a longer period means paying more in interest, that the decision is not a wise one. However, the advantages in getting a long-term personal loan for bad credit management do have very positive long-term ramifications.The loan is used to manage bad credit by consolidating existing loans into one single debt. This is a hugely beneficial move, which far outweighs the perceived expense of the new loan. For example, getting loan approval on a $25,000 loan means existing debts of $10,000, $7,000 and $8,000 can all be paid off in full, and the credit rating adjusted upwards.And since one debt now exists, just one interest rate is charged greatly reducing overall charges each month. So, a $25,000 personal loan taken out over 10 years, costing $175 per month, is much lower than three payments adding up to perhaps $500.Find a CosignerHowever, while a long-term personal loan for bad credit is more affordable as a result of the lowered monthly repayment, there is no guarantee of approval. It may be necessary to provide collateral, though this can be difficult if the loan sum is high.A cosigner is a much better option, as he or she can guarantee repayments will be made every month. Getting loan approval is made all the easier because, with repayments assured, the risk surrounding the loan is removed. This also means the interest rate is lowered, thus improving affordability in the process.Of course, a cosigner must have a good credit rating and a sufficient income, but a personal loan is all but assured when one can be found.