Welcome to Bad Credit Loanfinder .co.uk
With the national debt growing larger each day, more and more people are finding it hard to keep up with their repayments. Sometimes it's impossible not to fall behind with a loan or mortgage payment. Don't be worried though as a loanfinder can help get things under control even if you have missed payments of have bad credit.
Where can I get a bad credit loan?
Without a loanfinder, it's always a gamble when applying for credit. You won't know whether a lender will accept you and of course, each application you make the worse your credit will end up. Many people turn to a professional loanfinder to search the market finding the best lenders that match your personal circumstances. This way you will have a lot better chance of being accepted if you know you match the lenders criteria!
Why should I pay a loanfinder?
As with any service, you will need to pay a loanfinder for their expertise. Before you think this isn't for you, bear in mind how much time you could be saving yourself. An independent loanfinder will search a full panel of lenders which could be a fair few hundred. It can take upto 40 mins to apply with each lender and this would be after you've checked to make sure you meet their requirements! A loanfinder would usually charge between £30-£70 though I would recommend finding one that doesn't charge you a fee upfront, ie you will pay the fee once they've searched for a lender for you.
How does my credit affect me?
A persons credit can be considered a bit of a mystery. It will be taken into account when applying for credit though it's not so much of a gamble as many people think! Especially if you have the help of a loanfinder.
To simplify, any bank account, loan, mortgage, store card, credit card etc that you have owned in the past 6 years can be on your credit report. Every payment you have made will also be highlighted along with any late or missed payments. You will be able to see on your credit file any defaulted payments (seriously late or missed payments) as well as any CCJs (County Court Judgements, when you've had to go to court due to a missed payment).
If lenders can see you've missed payments in the past then some may be reluctant to lend as will see you as a high risk. Just because one lender isn't happy to help, doesn't mean you won't find a loan from anyone. Bear in mind that you may need to pay a higher interest rate however, thugh if a loanfinder is helping you, you can be sure you'll get the lowest APR available.