When you compare loans bad credit you need to know what type of loan you are looking for.
There may be many reasons why you are in the position to compare loans bad credit. You may have bad credit because you have not managed your money commitments well.
Compare Loans Bad Credit Companies
You may have made late payments, or completely missed loan or credit card payments. As a result, you may have County Court Judgements against your name or worse, been made bankrupt.
As a result of having bad credit it is highly unlikely you will be accepted for a standard market loan. You will then need to compare loans bad credit to achieve the money required and to find the best deal available.
When looking to compare loans bad credit applicants there are many options to choose from, but it really depends on how much and for how long you wish to borrow.
Compare Personal Loans Bad Credit
A personal loan is the most popular type of loan in the UK. This type of loan allows applicants to borrow from £1000-£25000 over 1 to 7 years.
This type of loan is ideal as they will have a fixed monthly payment and so is easier to plan for the future. The amount of credit you will be accepted for however will depend on your circumstances.
Guarantor Loans are an excellent option if an applicant has bad credit. They are similar to personal loans however it requires a family or friend to be a guarantor. This means if you fail to pay back the loan it will fall upon the guarantor to pay it back.
If you are a home owner there are great secured loans that are available for those with bad credit ratings. Since the loan is secured on your property you have a higher chance of being accepted than an unsecured loan. Both guarantor and home owner loans can be compared loans bad credit.
When accepted for a loan you can use the money for anything you feel is necessary like consolidating debts or making a much needed purchase. By keeping up with your repayments it can help rebuild a better credit rating by demonstrating to future lenders that you are capable of keeping up to date with your loan repayments.
By clicking on the banners on this page you will find reputable and Financial Conduct Authority (FCA) approved lenders that can help match you with the best loan to suit your circumstances, even if you have bad credit.