Practical tips to help you improve your credit rating and avoid expensive high interest loans
Loans for poor credit such as payday loans take a constant bashing in the media, but we’ll show you how you can safely find a loan.
With so much negative publicity it can be all too easy to steer clear of anything with the bad credit loan tag. Is this the right thing to do though?
The following article focuses on 3 of the best current options and highlights why a little bit of homework can save you a lot of money!
Before we get into our recommended loans to look at, a quick note about payday loans.
Payday loans should certainly be approached with caution.
With very high APR’s, fees and charges, other options are readily available and should always be explored first.
Please Note – Some ‘bad credit, credit cards’ are now even more expensive! Click here to find out more.
Our list of the top 3 loans for poor credit which are currently available:
The majority of problems relating to our chances of getting a loan from a bank or building society relate to our credit ratings. Simply put, if you have a bad credit rating, there is every chance your bank will not grant your application.
One way to avoid this problem is to turn to a guaranteed loan. Guaranteed loans take the borrower’s credit rating out of the equation by asking for a third party (normally a friend or family member) to guarantee the loan repayments.
Key benefits of guaranteed loans:
For more information on guaranteed loans, please take a moment to visit the dedicated Wikipedia page by clicking here.
Doorstep loans are very traditional loans that work just as you would imagine. Typically available for smaller sums of up to £500, once the loan has been agreed, an agent of your lender will visit your house on a weekly or monthly basis to pick up the loan repayments in person.
Key benefits of doorstep loans:
For additional impartial information relating to Doorstep Loans, please view the Citizens Advice Bureau guide taking an in-depth look at Home Credit & Doorstep Loans.
Credit unions have been around since the 1940s but have recently received a significant boost in popularity.
Put in place by people with a common interest, they offer a range of financial services including low-interest loans, savings and even bank accounts.
Key benefits of Credit Unions:
To find out more about borrowing from Credit Unions, please click here.
We believe it is important to put our customers in direct contact with professional quality lenders.
Avoiding big fees, charges and interest rates can save a huge amount of money and our loan application system will put you straight through to the UK’s very best bad credit lenders.
Firstly, use our loan calculator to see how much you can comfortably afford to borrow, once you have done this, then complete our simple application form to submit one application to over 10 lenders simultaneously.
Our lenders have all been highly vetted and within just a few minutes of submitting your application, the loan offers will begin appearing in your inbox and you may be able to obtain the same day payout!