If you are a borrower with a previously poor credit history it can sometimes be hard to get a cash loan. Here at Cash Converters we look at your application on its merits, beyond your credit history to try and find a suitable credit solution for your needs.
A bad credit loan, as its name suggests, is a loan specifically designed for people with a poor credit history. There are plenty of reasons why you might have a bad credit rating, the main one being that you failed to keep up with payments on a previous loan agreement.. Even if you’ve never had a loan or credit card before you could end up with a poor credit rating because lenders can’t access any evidence to show that you could manage your borrowing successfully. Normally it is virtually impossible to borrow from a mainstream lender if you have bad credit history.
The biggest advantage of a bad credit loan is that you are actually able to borrow money, which you otherwise wouldn’t be able to do because of your poor credit history. This can provide a real financial lifeline to people who need a loan to cover an unexpected need. Another advantage is that having a loan can actually help people with a bad credit rating to repair their credit rating. This is because, provided you always make payments on time, you demonstrate that you can manage your money responsibly.
We will consider your loan application on its merits so as long as you are able to afford to repay a loan responsibly and can show us that you are willing to pay it back, we can provide you with one. Your bad credit history may not be a major hindering factor unless it is very recent.
The amount you can borrow is based on what we consider an affordable amount for you to repay.