In times of trouble

Lawrence says: A poor credit history can happen to anybody at any time. Perhaps you need a bad credit loans because you missed some payments on a previous loan, got into mortgage arrears, had a judgement against you or problems with your credit cards. Perhaps it was due to circumstances outside your control, because of a divorce or redundancy, for example.

In the past, having a poor or adverse credit rating would have made it almost impossible to get a secured loan. However, more and more lenders have come to realise that bad credit isnt the end of the world and have developed a wide range of secured bad credit loans for people whatever their financial circumstances. At the same time, as more and more people have credit problems and the demand for bad credit loans increases, interest rates are more competitive than ever.

Just because you have a bad credit record it doesnt necessarily follow that you wont be able to get a secure personal loan.

A bad credit personal loan can bring that normality back to your life if you are a home owner with equity in your property. Secured on your home, a bad credit personal loan can give you the freedom, for example, to do the home improvements or buy the new car you really wanted.