Be honest. When is even a modest cash injection not a welcome arrival? For the vast majority of us, it can be the difference between financial strife and finally dealing with the debts that are causing us such trouble. Often, we hesitate in seeking these injections ourselves because of our low credit scores, but it is possible to get $5,000 personal loans with bad credit.And what can we do with $5,000? Between clearing outstanding credit card debt, catching up on mortgage repayments or simply clearing an existing loan that is more expensive, there is a lot. But how can we get loan approval despite bad credit?Well, the fact is that bad credit scores are never a significant influence over the approval process. To secure a $5,000 personal loan, issues like income and affordability are much more important. But when traditional lenders make life difficult, what are the loan options open to us?Opting for a Payday LoanThere are two big problems when applying for a loan for a traditional bank. First is the issue of bad credit scores, and second is the time it can take to get approval (if at all). But payday loans are available with no credit checks, and can be approved in minutes. So, securing a $5,000 personal loan with bad credit is pretty straightforward.However, there are some serious drawbacks to getting a payday loan, not least the fact it is one of the most expensive loan options around. While getting loan approval despite bad credit is not hard, proving affordability is tricky when interest rates are as high as 30%.Another problem is that lenders usually have a loan limit of $1,500, because approval is granted on the back of the next paycheck, with repayment in full expected in one lump sum. So, getting a $5,000 personal loan will require either successive payday loans, or a special arrangement.Getting a Family LoanTurning to a family member is often the preferred financing option, not just because approval is more or less certain, but because there is usually no interest charged. Securing a $5,000 personal loan with bad credit is not an issue, as long as the family member has that sum available to give.But even with no interest to pay and guaranteed approval despite bad credit, there are some factors that need to be heeded. Basically, it is important to agree terms with whomever the lender is to avoid any confusion and potential fall out in the future. Write the terms down, and sign it to ensure clarity.Of course, affordability is the best aspect of this loan option, but remember too that with a good relationship with the lender, it is always possible to renegotiate the repayment terms. That way all parties in the $5,000 personal loan deal can be happy.The Online Bidding LoanThis is a relatively new option but is ideal when seeking a $5,000 personal loan with bad credit but has nowhere to turn to. The system is very open, and the loan is provided by private individuals looking to earn a profit from their own available cash. Simply submit your preferred loan terms to a loan bidding website and then select the best offer from those who bid.Usually a full disclosure of credit history is required, as well as full income and employment details. Securing approval despite bad credit is fairly straightforward, but the interest charged is usually quite high. Still, when funds from a $5,000 personal loan are badly needed, it is a viable option to consider.