How to get loan if you have bad credit
Payday Loan- Payday Loan bridges the gap between two paychecks. These are short term loan that range between £100 and £1000. The idea is repayment of loan is made when a person receives another pay cheque. Moreover, loan providers don’t verify your credit so your previous profile won’t be taken into consideration. All you need is bank account and a job. Further, there are certain disadvantages associated with this loan like interest rate may be too high, you become habitual of taking this long (taking too frequently), your debt may get accumulated. However, it’s a great option if you use for exigencies and pay them instantly.
Credit Union- Before you jump to payday loan or other high cost loan you must consider all other options. One such option is credit union; it is non profit body that caters to various individuals by pooling money into union. They offer loan amounting to £100 to £3000. Interest rate may vary from
12.7 percent APR to 26.8 percent. Moreover there are no hidden charges, fees, penalty, prepayment charges etc.
Ameliorate your credit rating- For this you can directly ask your credit report from credit rating agencies like Experian, Equifax and CallCredit etc. They will provide you detailed report about your credit agreements like loan mortgage, credit card, mobile phone contract, store card based on that you can evaluate your credit rating.Supposedly, if you make late payments or have Country Court Judgment (CCJ) then your credit rating will be lower. Hence, to improve your credit you must pay your utility bills on timely basis and stay within your overdraft limit.
Ask for help- If these methods don’t suit you then ask some veteran person who can counsel you better.There are many counseling organization available like Citizen Advice, Consumer Credit Counseling Service and National Debtline they can put your financial expenses on track.
Thus, all these way may provide you some debt relief.
Visit unsecured loan uk for any information regarding unsecured loans.
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