Genuine Solutions for Bad Credit People

Author: Alicejohnsonn | Posted: 12.01.2012

There may be a time in your life when your credit rating is not as clean as you want it be. Such a situation may arise due to many factors such as loss of job, demotion, divorce, accident injury etc. there can be many reasons why a person could have a poor credit history. However, this does not mean that such people cannot have access to funds at the time of emergencies. Bad credit scores do hamper your chances of availing cash advances. But with the advent of the guaranteed loans for bad credit, you can be rest assured that you would get finances as soon as you wish.

The guaranteed loans for bad credit are finances that have been designed and introduced especially for those people who have missed few loan payments or mortgages. These loans are easily available through the online mode and it is very easy to locate a good lending organization on the internet. In order to select the most suitable lender, all you need to do is to compare the free loan quotes that are provided by the various lending institutions along with the other discounts schemes. The one who offers the most reasonable rates of interest is the most suitable one for you.

Now you must be sure that you are eligible enough to apply for these loans. You must fulfill certain requirements that have been laid down by the lending institution. To start with, you must be a citizen of UK and be employed with the same organization for over past 6 months. You must be over 18 years of age and hold a checking or savings account in a bank. If you satisfy all the above mentioned requirements you are eligible to apply for these loans and take the benefit of the amount that you gain.

The lender does not mind even if you do not have the best credit scores. So, people who suffer from arrears, defaults, insolvency, bankruptcy, IVAs and CCJs can also apply for these loans and get benefited with the cash advances that they gain. The guaranteed loans for bad credit are available under two formats: Secured and Unsecured. Depending whether you want to provide collateral against the borrowed amount or not, you can opt among the two. The secured loans come with a lower rate of interest and the unsecured variety is provided at a higher rate of interest. Availability of collateral enables consumers to get low interest rate and APR.

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