==== ==== A very interesting article with great information. http://tiny.cc/CreditInfo ==== ====
Often with the words bad credit history we visualize the numerous problems a borrower with bad credit history would face if he wants a loan, however, situation has changed now and even a borrower with bad credit history can borrow easily. Bad credit history as the word itself describes, the borrower has a consistent record of one or other type of problem in repayment. It means borrower has not been able to repay the committed amount on the committed day of the month, not for one month but for several months. These problems may be of any form such as partial payment, delayed payments, no payment etc. Now a day, it's easy to end up with a bad credit history or a bad credit rating, at time not due to your fault such as perhaps your bank has not paid a direct debit on your behalf, perhaps you've mislaid a bill, or maybe you've moved address and have forgotten to inform a creditor. Bad credit rating may also be caused by factors such as defaults on payments, mortgage arrears, bankruptcy orders etc and becomes a problem when trying to get a loan. It is said that in U.K. one out of three borrowers have one or other type of credit problems. A major disadvantage of bad credit history is that the chance of securing further loan by such borrower becomes a Herculean task. However, lending business is quite innovative in terms of new products and continuing the same trend lenders have also devised a product exclusively meant for borrowers with bad credit history which is called a bad credit history loan. A bad credit history loan is available for anybody and every body who has a bad credit history. Employed as well as unemployed people both are eligible for a bad credit history loan. Even people with CCJ, Arrears and Bankruptcy can also borrow a bad credit history loan. Purpose of a bad credit history loan A bad credit history loan can be used for any purpose decided by the borrower. Some of the common uses of a bad credit history loan are given below: ·Debt Consolidation - Don't complicate your life by struggling with different loans, credit cards and store card repayments when you can pay them all off in one go with a Loan for People with Bad Credit History and you can find yourself with more money in your pocket every month. ·A new sports car, bike, or holiday ·Cosmetic Surgery ·To pay tuition fee
·To buy a new home Eligibility for Bad Credit History Loan Min. age 18 years Max. Age 63 years Bad Credit History In Full Time Employment Self Employed Valid E-mail Address Required A Service Account Bad Credit History Loan: Amount and Interest Rate & Features A bad credit history loan is always a risky proposition for lenders. Because bad credit history itself indicates that the person had problems in repayments. Due to this risk, lenders offer the loan depending upon the profile of borrower. In case of bad credit history loan, the loan amount and interest charged vary from borrower to borrower and lender to lender. To compensate the increased risk, lenders charge a little higher interest rate. Therefore, this loan is a bit costly. Minute features of a bad credit loan are as follows: ·No up front fees ·No obligation quotation ·Loans secured on property ·Fast, friendly & confidential service ·Repayment terms between 5 years - 25 years ·Normally, amount varies from £7,500 to £75,000 ·Low cost - low interest rates and low monthly repayments ·In principle decision within 24 hours (Homeowner Loans Only)
Steve Clark can tell you how to look better, live better and breathe better by giving you tips to improve your finances.He writes on loans. His ideas can help you rejuvenate your money.To find
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==== ==== A very interesting article with great information. http://tiny.cc/CreditInfo ==== ====