Bad Credit Loans

What Is A Bad Credit Loan?

Bad credit loans exist to provide finance to those people who would otherwise find it difficult to get a loan due to a poor credit record. Financial institutions are businesses, and as such are only interested in your ability to repay any loans that they may offer you.

Can I check My Credit Record?

Yes is the simple answer You are fully entitled to see the information held by credit reference agencies it will usually cost you around £2 (more if using their online services). Below are the details of the three main credit reference agencies in the UK.

Usually a lender will use one or two of them so it may be worthwhile getting details from them all.

Below are details of the main credit reference agencies in the UK along with their web address.

How Does My Credit Rating Effect My Ability To Get A Loan?

If you have a poor credit rating this will have an effect on your ability to get a loan because you represent a higher risk. If this is the case then a bad credit loan may be necessary. To find out more about your credit rating and how it affects you view the topics below.

What Is My Credit Rating?

Avoid Bad Credit By Keeping A Positive Credit Record

Sorting Out Problems With Your Credit File

If you do struggle with payments and debts, it would probably be advisable to seek expert advice from a reputable Independent Financial Advisor. They can look at your individual situation and advise you according to your ability to repay any bad credit loans.