Guaranteed Bad Credit Loan
How frequently do you find yourself needing some extra cash? Maybe a new list of huge payables has caused a number of financial problems. Or maybe your automobile has packed in and will not travel another yard again. You could even just want to go on a family holiday or merge some of your other existing debts. Whatever the reason, in this instance you would normally just call your bank and ask for a loan. However, what do you do when you have a bad credit rating and require a loan?
I'm sure you have seen many TV adverts or newspaper ads that imply they offer guaranteed bad credit loans. It doesn't concern whether you have late or missed payments, arrears, defaults, CCJ's or even a bankruptcy, these companies will always offer guaranteed bad credit loans.
It isn't until you take a closer study at a number of the terms offered with your loan, that it no longer looks like a good suggestion. I, personally, have seen cases where a company will provide guaranteed bad credit loans, but at an interest charge more than 500%. In other words, you would have to settle 5 times the amount your originally borrowed each year! I should confess it is a nightmare sometimes trying to look for 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 assist you. Therefore preferably than having to do all the work yourself and receiving refusal after refusal, you can have someone else do the work for you.
A lot of these intermediary businesses have a large database of lenders who offer guaranteed bad credit loans and in actual fact only transact with people with unfavourable or poor credit. You can check the list of lenders until you discover one suitable for your requirements.
These lenders will provide most forms of loans to individuals with a poor credit score, but simply lend money based on affordability. So rather than "blacklisting" you because of your credit score, these companies will calculate what they determine is payable for you and then lend you money consequently! - 23200
I'm sure you have seen many TV adverts or newspaper ads that imply they offer guaranteed bad credit loans. It doesn't concern whether you have late or missed payments, arrears, defaults, CCJ's or even a bankruptcy, these companies will always offer guaranteed bad credit loans.
It isn't until you take a closer study at a number of the terms offered with your loan, that it no longer looks like a good suggestion. I, personally, have seen cases where a company will provide guaranteed bad credit loans, but at an interest charge more than 500%. In other words, you would have to settle 5 times the amount your originally borrowed each year! I should confess it is a nightmare sometimes trying to look for 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 assist you. Therefore preferably than having to do all the work yourself and receiving refusal after refusal, you can have someone else do the work for you.
A lot of these intermediary businesses have a large database of lenders who offer guaranteed bad credit loans and in actual fact only transact with people with unfavourable or poor credit. You can check the list of lenders until you discover one suitable for your requirements.
These lenders will provide most forms of loans to individuals with a poor credit score, but simply lend money based on affordability. So rather than "blacklisting" you because of your credit score, these companies will calculate what they determine is payable for you and then lend you money consequently! - 23200
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 @ 12:49 AM
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