Guaranteed Bad Credit Loan
How frequently do you find yourself requiring some extra money? Maybe a recent string of large bills has caused some monetary problems. Or maybe your car has packed in and will never run another yard again. You could even just wish to go on a family vacation or consolidate a number of your other existing debts. Whatever the grounds, in this situation you would normally just call your bank and ask for a loan. However, what do you do if you have a bad credit rating and need a loan?
I'm sure you have seen many TV adverts or newspaper advertisements that say they give guaranteed bad credit loans. It doesn't concern whether you own late or missed payments, arrears, defaults, CCJ's or even a bankruptcy, these companies will always give guaranteed bad credit loans.
It isn't until you take a closer look at a number of the terms provided with your loan, that it no longer looks like a good choice. I, personally, have witnessed cases where a business will provide guaranteed bad credit loans, but at an interest charge in excess of 500%. In other words, you would have to settle 5 times the amount your originally borrowed each year! I should admit it is a nightmare sometimes attempting to look for a loan when you have a less than perfect credit record.
However, you will learn that there are a number of intermediary companies out there to help you. Therefore preferably than needing to do all the work yourself and receiving refusal after rejection, you can approach someone else do the work for you.
Many of these intermediary businesses have a huge list of lenders who offer guaranteed bad credit loans and in reality only work with individuals with unfavourable or bad credit. You can look through the list of lenders until you find a company suitable for your needs.
These lenders will provide most types of credit to individuals with a bad credit score, but just lend money based on affordability. So rather than "blacklisting" you due to your credit rating, these lenders will calculate what they determine is payable for you and then lend you money consequently!
I'm sure you have seen many TV adverts or newspaper advertisements that say they give guaranteed bad credit loans. It doesn't concern whether you own late or missed payments, arrears, defaults, CCJ's or even a bankruptcy, these companies will always give guaranteed bad credit loans.
It isn't until you take a closer look at a number of the terms provided with your loan, that it no longer looks like a good choice. I, personally, have witnessed cases where a business will provide guaranteed bad credit loans, but at an interest charge in excess of 500%. In other words, you would have to settle 5 times the amount your originally borrowed each year! I should admit it is a nightmare sometimes attempting to look for a loan when you have a less than perfect credit record.
However, you will learn that there are a number of intermediary companies out there to help you. Therefore preferably than needing to do all the work yourself and receiving refusal after rejection, you can approach someone else do the work for you.
Many of these intermediary businesses have a huge list of lenders who offer guaranteed bad credit loans and in reality only work with individuals with unfavourable or bad credit. You can look through the list of lenders until you find a company suitable for your needs.
These lenders will provide most types of credit to individuals with a bad credit score, but just lend money based on affordability. So rather than "blacklisting" you due to your credit rating, these lenders will calculate what they determine is payable for you and then lend you money consequently!
About the Author:
Jason Myers is a professional writer and he writes mostly about free credit reports news. He's also interested in repair bad credit guides.
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