Firstly, i don't wish to turn this into a lecture as I'm sure you've heard it all before. But you need to realise why you are in the situation your are in now, before you try to secure any finance. Granted, sometimes the reason people end up with bad credit is due to circumstances beyond their control. Having said that, the majority of people find themselves in this situation because they are unable to control their spending. So promise yourself right now, that if you can get a loan with bad credit, that you will change your ways.
Most lenders now realise that ignoring those with defaults, CCJ's or even bankruptcy is no longer good business practice. Unfortunately, due to recent economic events, many of us find ourselves struggling to cope with the mounting bills and loan, credit card and mortgage payments. Therefore, it makes sense that banks and lenders will lend to people who have poor credit.
You can't expect so have the same terms and conditions as someone with a perfect credit score, but you can still secure some form of finance at an affordable rate.
This has led to a number of intermediary companies that will liaise with a lender on your behalf to secure a loan. Usually you will have to pay a small one-time fee to this company and in return they will open up their database of lenders to you. It is then a case of finding the best deal to suit your individual requirements.
These intermediary companies will usually offer personal support via the telephone or internet. They can also help those of you really struggling financially by guiding you towards some little known government schemes.
So before you give up all hope, please realise that getting a loan with bad credit is not that difficult.
Sam_Renstaff
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