Personal Loans Poor Credit – previous or current credit problems don’t have to hold you back from getting the personal loan you want.
Even if you have had CCJ’s, arrears, are self employed or have no credit history, there are a few lenders who specialise in offering finance and fast Personal Loans Poor Credit for people with a bad credit rating.
Get personal loans poor credit today
Specialist lenders understand that just because you have run into financial problems in the past, it doesn’t necessarily follow that you will be unable to meet your financial commitments in the future.
They provide Personal Loans Poor Credit to many types of applicants, even discharged bankrupts, as long as the borrower can afford to meet their monthly repayments. Fast Personal Loans poor credit are available for both tenants and home owners with bad credit history.
If you have run into serious arrears, perhaps because you get divorced, fall ill or lose your job, you are likely to have a poor credit rating. Minor blips on your credit record, such as missing a credit card payment, failing to pay a parking ticket or forgetting to settle a utilities bill, can also affect your eligibility for credit.
Most mainstream lenders will reject applications from people who have a bad credit history such as County Court Judgments CCJ’s, defaults and bankruptcy.
Companies suitable for personal loans with poor credit
You can also be rejected for a personal loan or mortgage for a wide range of relatively minor problems such as not being on the electoral roll, not having a bank account, receiving income benefits and even making several applications for credit in a short space of time.
Figures from analyst Datamonitor estimate that 9.1m people were refused credit by mainstream lenders in 2005.
Getting credit can sometimes seem like an impossible task and it’s easy to get despondent if you’re turned down.
The adverse credit market has become far less competitive in recent years with the differential in rates between bad credit and good credit products increasing significantly.
However, a few reputable lenders still offer personal loans poor credit, credit cards and mortgages for people with bad debts, CCJ’s or even a past bankruptcy on their credit file.
Contrary to popular belief, there is no such thing as a credit blacklist detailing people who shouldn’t be lent money.
Each lender will have their own criteria for determining whether to accept you as a customer, they will use the information you provide on the application form and the contents of your credit file to make a calculation on your “risk” as a potential customer.