Got bad credit ratings and need a loan?

Consequently these people get a bad credit history or poor credit rating meaning that they have been identified as someone to whom it is more risky to lend money. There are many lenders who offer loans to these people. Anyone can apply for a bad credit loan but bear in mind that your age and employment history will be taken into account before the application can be processed any further. The minimum requirements for a bad credit loan in the UK are that you are over 18 and are employed.

Not all lenders offer bad credit loans and you will probably find that those that do fix a higher APR to offset the risk of lending to someone with a poor history. There are also licensed lenders for poor credit borrowers, sometimes called sub-prime lenders who will offer loans to people who are unable to get them from a building society or bank. It is always important to read the small print and make sure that you can meet the repayment amounts before taking out any kind of a loan.

If you have bad credit and are looking for a loan, you could try a variety of lenders. Try best4loans.co.uk, totallymoney.com or yesloansuk.com. All will take an open minded approach to lending money to individuals with poor credit ratings. You will be asked for collateral to put against the value of the loan however so think carefully before you take the plunge.