Got bad credit but still need a loan?
Have you been refused credit in the past? All is not lost. Bad credit loans are a way for you to borrow money. Unsecured loans are available even if you’ve got a low credit score or no credit history at all. If you’re finding it difficult to be accepted for credit, you can still apply for low APR bad credit loans with Simple Personal Loans
How do you get a loan with bad credit?
Living with a bad credit rating is a hassle, especially if can now afford the things you want. Any financial mishaps that might have happened years ago, when you were in worse shape than you are now, stay on your credit file for 6 years, so even though you might be in a much better position now, that default or missed payment could still be haunting you.
If your credit history is less than perfect, it doesn’t mean you will be automatically declined for a loan.
Where can you turn when you need cash? Even with CCJs or defaults on your credit record, there are reputable lenders who will consider applications for bad loan credit.
Bad credit loans often come with a higher interest rate, but because each lender has a different set of criteria, using Simple Personal Loans to find a great unsecured loan rate couldn’t be easier.
In some cases, you have to secure your loan against a car or house to guarantee you meet your loan repayments. After all, a lender needs to be sure you can pay back the loan in the future.
Another way of meeting your commitments is by asking a family member or a friend to act as a guarantor.
• Secured loans – lets you borrow money against an asset you own, such as property
• Guarantor loans – requires another person to commit to repay your loan payments if you default
• Peer-to-peer loans – allows you to borrow from individuals instead of a bank
Personal loan brokers have a panel of lenders ideal for personal loans, unsecured loans, car loans and guarantor loans. These are available to people with good, as well as bad, credit ratings.
If you want to keep track of your credit score and what lenders look at when they are considering you for a loan why not try this Free Forever Credit Score service to keep you ahead of the game