Some people who have
poor credit, get
penalised by the
loan companies, and
because they have a
tainted past when
taking out loans,
credit or credit
cards, the loan
companies add more
risk to the loan,
therefore the rates
can be tremendously
different than
normal loan rate.
So if you are
searching for a
Bad Credit Loan,
or a
Poor credit Loan,
take a look at some
of the loan
companies below who
can offer you loans.
Most of us at some time require a loan and there are many
different types to choose from. The challenge is finding the
best one to suits your needs.
Loans fall into two categories - unsecured personal loans or
secured loans.
Unsecured personal loan This is a personal loan, available from a bank, building
society or other finance company, without security. A lump
sum will be loaned in return for agreeing to make regular
repayments, usually by bank direct debit. Personal loans of
this type are generally offered up to £25,000. Repayments
are over a period of time, usually between six months and
ten years.
Lenders charge interest, which can be fixed or variable, on
the amount borrowed. This interest charge is expressed as an
APR (annual percentage rate). The APRs will vary dependent
upon the amount of the loan and sometimes the terms. Usually
the rate is fixed and remains the same throughout the period
of the loan. If it is variable you must be advised of this
possibility.
Secured personal loan
A secured personal loan is one in which some of your
property, usually your home, is held by the lender as
security for the amount you have borrowed. Secured loans
usually offer lower interest rates than unsecured ones.
Need help choosing
a loan, view our