BAD CREDIT SOLUTIONS
What is a Bad Credit Personal Loan?
by: John Mussi
A Bad Credit Personal Loan is a loan designed for the
many people with a bad credit rating. A bad credit rating
can make your life a misery.
However created, your past record of CCJs (County
Court Judgements), mortgage or other loan arrears can
live on to deny you access to finance that other people
regard as normal.
If you are a UK home owner with equity in your property,
a UK Bad Credit Personal Loan can bring that normality
back to your life. Secured on your home, a UK Bad Credit
Personal Loan can give you the freedom, for example, to
do the home improvements or buy the new car you really
With a UK Bad Credit Personal Loan you can borrow from
£5,000 to £75,000 and up to 125% of your property
value in some cases.
A UK Bad Credit Personal Loan is a low cost loan secured
on your UK home. It frees up the spare capital (or equity)
in your home for you to use on whatever you want.
A UK Bad Credit Personal Loan is ideal if you want to
raise a large amount and have a poor credit history
you may be able to get a UK Bad Credit Personal Loan even
when you have been turned down for an unsecured loan.
There are loan plans for applicants who have CCJ's and
mortgage arrears, it doesn't matter how many months arrears
you have or how many CCJ's you have registered against
you, if you have the equity in your property the chances
are that a loan plan can be tailored to suit your needs.
Whether or not you've missed a few payments on your current
credit payments, there are loan plans that will allow
you to re-establish your credit rating. So if you've been
turned down for credit elsewhere don't despair.
More detailed information....
County Court Judgement (CCJ)
A county court judgement is a judgement for debt in the
county court. If a judgement is settled in full within
30 days of the date of the judgement it will not appear
in the credit register. A judgement may be set aside,
varied and suspended on application to the court. Judgements
are registered publicly with Registry Trust and held for
six years. In the event of a payment after that date the
judgement will appear in the register but will be shown
as being satisfied. However a satisfied judgement will,
in most cases, show on your credit history and will treated
as adverse credit history. If you have experienced a county
court judgement and it has had a negative affect on your
credit history you may still be able to obtain a loan
via specialist lenders.
Arrears are mortgage payments that have not been made
by the due date or are not to the correct amount in accordance
with the mortgage deed agreed by the policy holder and
Borrowers with arrears in their credit history may find
lenders are less willing to provide them with a loan.
Fortunately some high street lenders will consider providing
credit impaired borrowers with a loan.
A UK Bad Credit Personal Loan can help you with:
Home improvements such as a new kitchen or bathroom
That once-in-a-lifetime holiday
Your dream car or boat
Repaying credit card or other debts to reduce your monthly
outgoings to a more manageable amount
A UK Bad Credit Personal Loan rates are variable, depending
on status.Your monthly repayments will depend on the amount
borrowed and term.
You may freely reprint this article provided the author's
biography remains intact:
About The Author
John Mussi is the founder of Direct Online Loans who help
UK homeowners find the best available loans via the www.directonlineloans.co.uk