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Glossary
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Bad credit loans
Bad Credit Loans
Bad credit loans are essentially loans that are offered to people who suffer from a bad credit history as a result of credit problems in the past. You can borrow anything from £500 to £25000 on a bad credit loan. 

Bad credit loans
can be arranged as secured or unsecured loans. Even if you have a history of bad credit, there are still companies out there who are willing to grant you a loan.

However, you will have to endure a high rate of interest on your loan because of your credit problems.


Where to get bad credit loans if you have bad credit


When you have bad credit or credit problems, most high street banks and building societies will turn you away. However, there are a few banks out there that will offer bad credit loans for people with bad credit or credit problems.

If you cannot find a bank to help you, there are plenty of specialist financial companies, particularly online loan providers, who are happy to work with people with bad credit. Browse the internet and you will find a host of lenders competing to offer you bad credit loans for anything from bad credit mortgage loans to bad credit car loans. An unsecured bad credit loan will cost you in high interest rates, but if you can provide some kind of collateral, you may be offered a bad credit secured loanwith a reasonable interest rate.

An easy way to borrow money when you have a bad credit record is to obtain a bad credit credit card. It is often easier to get approved for a credit card than for an unsecured loan. This way, you will not have to pay the high interest rate attached to a bad credit loan.

Some essential information about unsecured bad credit loans:

  • Unsecured bad credit loans are a good way to borrow money, particularly for those with credit problems and with no assets.

  • You do not have to use your property as collateral for bad credit loans.

  • To apply for unsecured bad credit loans, you must be over 18 years of age, be employed, and be able to afford regular repayments.

Keep these bad credit loan tips in mind:

  • Beware of dishonest loan providers who operate bad credit loan scams.

  • Do not trust any company that insists you pay upfront for credit repair services or encourages you to invent a brand new credit identity. Remember it is a crime to follow illegal advice!

  • The only way to repair your credit history and bad credit problems is to manage your finances better and spend within your budget.

  • If you feel your credit history record is inaccurate, you can investigate this with the credit ratings agencies involved.

  • If you stick to your debt management plan and spend wisely, you can resolve your credit problems after a few years.


Just because you have bad credit problems doesn't mean you'll never get financing again.  You just need to know where to look for bad credit loans.

Compare the best personal loans

 
 
 
 
 
 
 
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