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If
you have bad credit…
Bad credit personal loans are available for applicants who have a
less than perfect credit history. If you are not sure of your credit
rating, you can obtain a copy of your file from a credit reference
company, such as Equifax and Experian. Or similarly, if you have been
refused credit, and aren’t sure why. Most companies have different
rates that can be very high for a lot of people to pass. Credit ratings
take into account your employment, accommodation history and past
repayment tendencies, for example, did you ever miss payments or pay
your bills late? All these are taken into consideration when you apply
for credit.
People can get bad credit due to missed or late payments of bills
or mortgage arrears. This can make it hard to obtain credit in the
future from mainstream lenders; however, there are reputable companies
who can help. If you have bad credit and you require a loan, be
prepared to pay a higher interest rate. This is because companies
will do a credit check when you apply for a loan. Until you have
a few years of borrowing where you pay regularly and on time, you
will have to pay a higher interest rate.
Bad credit loans will usually have a fixed interest rate (although
it may be quite high due to your credit history) and are repayable
on a monthly basis. You should make sure that you are definitely
able to repay the loan including the interest as you will want to
repair your credit history, not make it worse by taking out a loan
and not being able to pay it back.
We will search our panel of lenders to find the best deal for your
circumstances.
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