Guaranteed Bad Credit Loan
How frequently do you find yourself needing some extra cash? Maybe a new list of large bills has originated some monetary issues. Or maybe your car has packed in and will not run another yard any longer. You could even simply wish to go on a family holiday or consolidate some of your other existing debts. Whatever the reason, in this instance you would usually just call your bank and apply for a loan. But, what do you do if you have a bad credit rating and need a loan?
I'm sure you have seen a lot of TV ads or newspaper advertisements that say they provide guaranteed bad credit loans. It doesn't matter 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 some of the terms offered with your loan, that it no longer looks like a good suggestion. I, personally, have seen situations where a company will provide guaranteed bad credit loans, but at an interest charge more than 500%. In other words, you would have to pay back 5 times the amount your initially borrowed each year! I must admit it is a nightmare sometimes trying to find a loan when you have a less than perfect credit record.
However, you will discover that there are a number of intermediary companies out there to help you. So preferably than having to do all the work yourself and receiving refusal after refusal, you can have somebody else do the work for you.
A lot of these intermediary businesses have a large list of lenders who offer guaranteed bad credit loans and in actual fact only deal with individuals with adverse or bad credit. You can check the list of lenders until you find one suitable for your needs.
These lenders will provide most types of credit to individuals with a bad credit rating, but simply lend money based on affordability. Therefore instead of "blacklisting" you due to your credit score, these lenders will calculate what they determine is affordable for you and then lend you money consequently! - 23196
I'm sure you have seen a lot of TV ads or newspaper advertisements that say they provide guaranteed bad credit loans. It doesn't matter 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 some of the terms offered with your loan, that it no longer looks like a good suggestion. I, personally, have seen situations where a company will provide guaranteed bad credit loans, but at an interest charge more than 500%. In other words, you would have to pay back 5 times the amount your initially borrowed each year! I must admit it is a nightmare sometimes trying to find a loan when you have a less than perfect credit record.
However, you will discover that there are a number of intermediary companies out there to help you. So preferably than having to do all the work yourself and receiving refusal after refusal, you can have somebody else do the work for you.
A lot of these intermediary businesses have a large list of lenders who offer guaranteed bad credit loans and in actual fact only deal with individuals with adverse or bad credit. You can check the list of lenders until you find one suitable for your needs.
These lenders will provide most types of credit to individuals with a bad credit rating, but simply lend money based on affordability. Therefore instead of "blacklisting" you due to your credit score, these lenders will calculate what they determine is affordable for you and then lend you money consequently! - 23196
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 @ 3:32 AM
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