Fearing the fate of a loan application based solely on a poor credit rating is unnecessary. Even for bad credit borrowers with the worst credit history, there are loan options out there. Getting a long-term personal loan for bad credit management is often an attractive investment for lenders, since it serves constructive purposes.For a successful loan application, the applicant needs to meet the set criteria, but that has very little to do with credit scores. Affordability is more important when getting loan approval than credit history, with income and the existing debt-to-income ratio key influencers.But, of course, there are different types of personal loans available, and the type that is sought also has a say in the likelihood of approval. Thankfully, there are some definite steps to take to greatly improve the chances of approval.Applying for Affordable LoansThe affordability of a loan agreement comes down to a few simple factors. The key is the size of the required monthly repayment and how that compares to the available income. A credit score can have an influence on monthly repayments, but a long-term personal loan for bad credit counters this because of the lengthy repayment term.While a low score means a high interest rate, a long term drastically reduces the size of the repayments. This is because the loan principal is divided up into a greater number of shares, and so are inevitably smaller. For example, a $10,000 loan repaid over 3 years (36 months) costs around $300 per month, including interest. But over 10 years (120 months), will cost just $95.And with lower repayments, getting loan approval becomes more assured. However, there is one drawback in that the amount of interest paid over the longer term is much higher than that paid over the short-term. Still, a personal loan with lower required repayments is much more likely to be approved.Advantages of the Long-Term OptionAlthough paying the greater amount of interest over the long lifetime of a loan means the cost of the loan is much higher, there are practical advantages to seeking a long-term personal loan for bad credit management rather than a less costly short-term loan.When the chief purpose of the loan is to consolidate existing debts and clear them, the investment can prove well worth it. For example, getting loan approval on a $35,000 loan means existing debts of $15,000, $12,000 and $8,000 can all be cleared in full in one simple repayment.The immediate advantage is that the credit score is increased, but with just one loan to repay the costs fall dramatically. There is just one interest rate instead of 3, reducing the amount of interest paid monthly, with the loan repayments on the single personal loan also much lower.Cosigners Guarantee ApprovalOf course, there is no such thing as a guaranteed loan approval, but by including a cosigner in the application, the chances of getting a long-term personal loan for bad credit is extremely high. The reason is that a cosigner offers a guarantee that the monthly repayments will be made, even when the borrower is unable to make them.This level of security makes getting loan approval something of a formality, with lenders left with practically no risk to worry about. As a result, the interest rate charged is much lower, making the loan more affordable. 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.