Bad credit can arise from bad luck or unfortunate circumstances. Maybe you are unable to work for a period of time, or lose your job, and start to struggle to maintain all your outgoing payments. Bad credit can also arise from unwise borrowing: there are so many credit cards and loans available today that it's easy to see why some people end up owing more money than they can afford to repay.
When someone fails to meet their credit payments on time they can quickly start to build up a "bad credit history". This can make it difficult to get a regular loan, and yet life goes on - people still need to do things such as take holidays, get married, and pay for major necessary purchases or home repairs, even if they have bad credit.
Even a few missed payments can affect your credit rating, as loan and credit card companies report any late or missed payments to Experian or Equifax, the credit reference agencies. Whenever you apply for new credit, such as a loan, credit card, hire purchase or rental agreement (even a mobile phone contract) your credit score is checked, and you may be denied credit if your credit history isn't a good one.
Unfortunately, this means that those who most need to borrow some extra money can often find it hardest to get any. That's a hard thing to deal with, and so in more recent years a new type of credit has been credited - a bad credit loan.
Finance Now offer secured loans for bad credit customers, and because these loans are secured against your property, you can still get a loan at a sensible rate of interest even with bad credit!
In fact, we are bad credit loans specialists who have a large number of lenders we have access to who specialise in bad credit loans. We pride ourselves that we can find a loan for over 70% of customers who apply with us, including people with no equity, or severe credit problems. Contact us now to see how we can help.
Monthly Repayment & APR rate may vary on your personal circumstances.
OUR TYPICAL, VARIABLE RATE IS 11.3% APR. RATES RANGE FROM 7.4% APR to 27.60% APR THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
All loans subject to status in the UK to residents aged 18 and over and may be secured on property
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