Guaranteed bad credit loans could be the answer to all your prayers if you have a poor credit rating. The past year has been an absolute economic disaster around the entire globe and there are no real signs of any fast improvement. People seem to be earning less, have higher bills and work isn't exactly easy to come by. This is why so many of us seek guaranteed bad credit loans. Finally an opportunity to stop worrying about the bills and have some money in your pocket!
1) So who can apply for a bad credit loan?
The fantastic thing about this type of product is that it doesn't discriminate against anyone. Whether you have a history of missed or late payments, county court judgements, defaults or even a discharged bankruptcy you can obtain this type of finance.
2) Do I have to provide any collateral?
The problem with many lenders is their lending policies sometimes seem to lack common sense. The majority of the time if you have a poor credit rating, a bank or lender will ask you for a deposit as security against a loan. Now if you had any spare money just lying around, my guess is you wouldn't need a loan! Luckily many of companies who provide guaranteed bad credit loans, realise this and will usually not require any collateral.
3) How much can I borrow?
This will very much depend on your income and expenditure. Remember the companies who provide these types of loans are looking to make your financial situation better. By providing a loan that you simply can't afford is not an option. A company who provides guaranteed bad credit loans will decide how much to lend you based on what THEY believe is affordable. Yes they will ignore your poor credit rating, however, they will do everything they can to ensure the monthly payment on your new loan is one that you are comfortable with and can afford!
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