Loans available for Bad CreditAvailable Loans For Bad Credit
If you have a bad credit record, what kinds of loans may be available to you?
When you want to lend something, bad credit can be a real issue. A number of other determinants may also affect credit quality. You may be lacking information about your credit history, for example. Each has a different influence on the type of credibility that might be available to someone with a poor creditworthiness.
Guarantee credits. These types of loans are specially conceived for borrowers with bad credit. Guarantees must be good creditors, over 18 years old and prefer to be homeowners (although a lessee can also be good, especially for smaller amounts). Maturities can be up to five years and guarantee credits are available for relatively large totals - up to £15,000.
Minor guarantee loans are also available, from £100 - £750. Collateralized loans. When you don't have a big loan, it's much simpler to rent if you own your own house. Collateralized loans are available to home owners with bad credit who want to take advantage of the increasing value of their real estate to assist a loan request.
Up to 95% of the value of the real estate may be available for loans, according to the situation. These types of loans are backed by the value of the real estate, which means that if it is not paid back, the real estate can be used for repayment to the creditor. Log book borrowing. A further kind of collateralized credit that is open to someone with a poor credit standing is a log book credit.
With this kind of loans, the credit is not backed by a real estate but by the value of the borrower's vehicle. Â Since the credit is backed on the vehicle if it is not paid back, the vehicle can be resold to raising the principal for repayment. Payment date loans. They are also well suitable for someone with poor creditworthiness for two main purposes.
First, the short-term character of the credit means that the credit amount is often lower, less dangerous for the lender, so creditworthiness is not so important. Creditors are open to bad credit borrower. Unsatisfactory credit card - small credit lines mean low credit risks for the lender. This is a good chance to build up bad loans by making regular and timely payments.
Installment loans - raising up to 2,000 may be available to those with bad credit who are required to repay in periodic installments over 3 to 24 month. Auto financing - if you are a borrowers looking for credit to fund the buying of a vehicle, a poor credit standing will usually not preclude you from being acceptable for auto financing.
Face-to-face loans - it can be harder to get a default face-to-face home loan with a poor credit score, but many creditors provide bad credit face-to-face loans, especially for homeowners borrower. Why is your credit record bad and what can you do about it?