April 2, 2013
It’s frustrating. You can afford it but your cash flow is tied up. And you badly need that car repair, that essential purchase, or you have to make an urgent payment to your supplier. If your bank and credit card company are not helpful, consider bad credit loans to tide you over.
Poor credit scores could be due to simple mistakes, like forgetting to pay your electricity bill. Traditional institutions penalise you mercilessly without considering an individual’s circumstances. Companies offering bad credit loans don’t check your credit records. They don’t even ask what is the reason for your loan! Instead, they offer short term loans with repayment tenures up to 12 months if you can demonstrate:
1. your ability to repay. Show that you have a regular income. Usually this means proving that you are salaried, although some companies do extend credit to self-employed individuals too. If you earn above £1,000, you should be safe.
2. you have an existing bank account. The account needs to be older than 3 months. Having your wages directly credited into this bank account will increase your success at securing credit.
3. your wages are regular and frequent. Are you paid weekly? Monthly? The more regular and frequent, the better.
4. you are a citizen of the UK.
If you cannot meet some of these conditions you may still get the loan if you can offer something valuable as collateral, like a house or a car. Alternatively, find a friend or a family member who is financially stable to co-sign your application.
As with all loans, don’t be lazy. Shop around and look for a loan with the lowest interest rates, although this consideration may sometimes be offset by a loan that offers you some other form of advantage, like greater flexibility in repayment. Check if the interest rate is fixed; avoid those that aren’t. Check if there is a fee, and if yes, ask how much.
March 5, 2013
Do you have a credit rating that is, shall we say, less than perfect? It is so easy to miss a payment on your credit card because you forgot to send the cheque, or there wasn’t quite enough in the account to cover it when the standing order went out. Even something that simple can trigger a bad mark against your rating! Then it takes six years for it to clear, and you need to make sure nothing of the sort happens again or you’ll restart the six years …
But I Need a Loan!
So, in the meantime, the bank will not give you an ordinary loan while that mark is against your rating, but that doesn’t mean that your unexpected bill doesn’t have to be paid! We can organise so-called "bad credit loans" for most people and to pay for them will usually cost you nothing more frightening than a rate of interest slightly higher than the high street banks charge.
Do I Qualify?
Qualification couldn’t be simpler for most of the UK population – as long as you are an adult UK resident who has both a salaried job (or some other form of verifiable income) and a bank account in your own name, you should be fine. If you own your own home, that’s a bonus.
How Do I Apply?
If this describes you, then you just have to fill in our simple form giving details of yourself and the loan you require and submit it. We’ll get back to you within a couple of working days and once approved the money can be with you that day.
Did you know that bad credit loans can help your credit rating get back on track? Make sure you make the right repayments. on time, and it helps show the banks you are a responsible person, which can start your rating back towards where you want it.
February 22, 2013
One of the worst nightmares of people is to end up not being able to apply for loans to take care of their needs or financial emergencies because they have bad credit scores. In case you are one such individual whose credit trouble is a haunting problem then don’t feel helpless because there is hope and the right solution for this problem. The solution is: bad-credit loans. These loans are the best solutions for people who want to improve their credit scores. You can actually correct your credit history and turn it around, from a negative one to a positive one with the help of a bad credit loan.
When you take this kind of loan,you will be able to give the lenders a positive impression about yourself because the lenders will know that you are an individual who is capable of repaying debts and handling loans once again even though you may have had a temporary setback because of a negative credit score. Therefore the lenders would find it safe to lend you money because they have the assurance that you’d be repaying it irrespective of your problems.
So, what can you do with a bad credit loan? Well, one of the most common uses of such loans is to repay off other loans that have high interest rates or over dues because doing this will bring down the debt burden of the individual by a substantial level. In case you need to pay off other loans that you’ve taken out which come with a steep late fees then bad-credit loans are the best ‘weapon’ to use from your arsenal. The money obtained from bad-credit loans can also be used for the purpose of negotiating partial payments for outdated or very old debts so as to clear them.
Even though such loans are meant to solve your problems, do not increase them by not repaying your bad credit loan. By doing this, you will further damage your credit score instead of improving them, thus defeating the purpose of applying for a bad-credit loan in the first place!