Guaranteed Bad Credit Loan
How often do you discover yourself requiring some extra cash? Perhaps a recent list of huge bills has caused some financial problems. Or perhaps your automobile has packed in and will never run another yard again. You could even just wish to take on a family vacation or merge a number of your other existing debts. Whatever the grounds, in this situation you would usually just approach your bank and ask for a loan. However, what do you do if you have a bad credit rating and require a loan?
I'm positive that you have seen many TV ads or newspaper advertisements that say they provide guaranteed bad credit loans. It doesn't concern whether you have late or missed payments, arrears, defaults, CCJ's or even a bankruptcy, these businesses will always give definite bad credit loans.
It isn't until you give a closer study at some of the terms provided with your loan, that it no longer looks like a good idea. I, personally, have seen situations where a business will offer guaranteed bad credit loans, but at an interest rate more than 500%. In other words, you would have to pay back 5 times the value your originally borrowed each year! I must confess it is a nightmare sometimes trying to look for a loan when you have a less than perfect credit rating.
However, you will find that there are numerous intermediary companies out there to help you. So rather than having to do all the work yourself and receiving rejection after refusal, you can approach somebody else do the work for you.
Many of these intermediary companies have a huge database of lenders who provide guaranteed bad credit loans and in actual fact only deal with individuals with unfavourable or bad credit. You can check the list of lenders until you discover one which meets for your needs.
These lenders will provide most types of credit to people with a bad credit rating, but just lend money based on affordability. So rather than "blacklisting" you due to your credit score, these companies will calculate what they determine is payable for you and then lend you money accordingly! - 23208
I'm positive that you have seen many TV ads or newspaper advertisements that say they provide guaranteed bad credit loans. It doesn't concern whether you have late or missed payments, arrears, defaults, CCJ's or even a bankruptcy, these businesses will always give definite bad credit loans.
It isn't until you give a closer study at some of the terms provided with your loan, that it no longer looks like a good idea. I, personally, have seen situations where a business will offer guaranteed bad credit loans, but at an interest rate more than 500%. In other words, you would have to pay back 5 times the value your originally borrowed each year! I must confess it is a nightmare sometimes trying to look for a loan when you have a less than perfect credit rating.
However, you will find that there are numerous intermediary companies out there to help you. So rather than having to do all the work yourself and receiving rejection after refusal, you can approach somebody else do the work for you.
Many of these intermediary companies have a huge database of lenders who provide guaranteed bad credit loans and in actual fact only deal with individuals with unfavourable or bad credit. You can check the list of lenders until you discover one which meets for your needs.
These lenders will provide most types of credit to people with a bad credit rating, but just lend money based on affordability. So rather than "blacklisting" you due to your credit score, these companies will calculate what they determine is payable for you and then lend you money accordingly! - 23208
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.
posted by X - Men @ 1:26 AM
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