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How to find a loan if you have bad credit

So, you have been behind with your existing credit or you have requested your credit file from Experian and you have discovered to your dismay that you have bad credit. You may have applied for a loan and you have been refused, you may have made several applications and all of them have been turned down. Your are not alone. It is true that today, one in four people are likely to have less than perfect credit record. Nevertheless, it is most depressing when you find that you cannot get a loan because of your bad credit record. Before you start making loan applications you may find it useful to read our advice on improving your credit record and improve your chances of getting a loan.

The credit crunch has made it even more difficult for somebody who has an impaired credit record to find a loan, particularly if you are a tenant and cannot provide security. Many high street banks will not lend unless you have excellent credit record.

What are bad credit loans?

There are a multitude of reasons that could negatively affect your credit rating and impair your ability to get a loan in the future. In the current economic climate it is easy to fall into debt because of a change in circumstances, losing your job, too many bills arriving at the same time, or simply missing the odd bill or credit card payment. Even people who do not borrow and spend may see their credit ratings damaged - they may forget to settle a utility bill or end up with an unpaid parking fine, leaving them looking for bad credit loans. Then, of course, there are people who have CCJs, those who have defaulted on their mortgage repayments and people who have just emerged from bankruptcy. However, in those circumstance, if you decide to look for a loan or need to borrow money you will generally find that high street lenders are not suitable. What you need is a bad credit loan.

Express Finance has more than ten years experience in this field. Our panel of lenders are sympathetic to those who have had credit problems in the past. We offer a range of loans that cover all circumstances. From £100 to £15,000 for tenants and larger amounts, subject to equity, if you are a homeowner. The loans can be for any purpose; you can pay off existing debts and arrears so that you can improve your credit record. Or, you can use the money to carry out home improvements, buy household goods, pay for any future project or emergency, buy a new car or treat yourself to an exotic holiday.

Our application process is straight forward. You don't have to complete long and complicated forms, you don't have to wait long for a decision. It takes just three simple steps from start to finish. First, you complete our simple application form, either on our website or over the telephone. Second, we find the most suitable lender and place the application with them. A decision is given within a few hours and the paperwork is dispatched, either by post or more often by email. All you need to do is sign the documents and return them. On receipt of the signed documents, if everything is satisfactory, the loan is paid directly into your bank account. In some cases the procedure is simplified so that everything is done online, avoiding the need to send the paperwork in the post . The money can be in your bank account within hours of the application.

Whatever your reason for thinking about a bad credit loan, why should you come to Express Finance? Well, you would not be on your own, that's for sure - thousands of people come to us to discuss their funding needs and truly appreciate our straight forward and efficient approach. Being the leading specialist finance broker in the United Kingdom, Express Finance offers you unparalleled access to many loan products and we are able to help people in a variety of different circumstance. You can rest assured that the interest rates we will offer you will be the most competitive, depending on your credit record. So, whether you need a bad credit loan or some other type of loan, get in contact with Express Finance today on 08455 190969 or apply via this website.