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unsecured loans for bad credit

Top 10 Loans For People With Bad Credit

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There is no such thing as a one size fits all’ bad credit secured loan, so the interest you pay will depend on your personal circumstances, such as the amount you want to borrow, the repayment period and the severity of your credit problems. If you want to keep the cost down, repaying the loan over a shorter period of time can result in reduced interest charges. However, this will increase the level of your monthly repayments.

You may even choose to extend the term of the loan to reduce your monthly repayment further. Sometimes, looking at the total amount payable’ can be daunting, but if you look at your mortgage interest statement or add up the interest you pay on credit cards, stores cards and credit charges each year, you could find you make a significant saving overall – especially if you currently make minimum monthly repayments on credit and store cards.

In some instances having no credit can make getting a loan as difficult as having a poor credit history. The lender has nothing to base their decision on in granting the loan. This is where using a guarantor unsecured loans for bad credit
loan can help in establishing credit. As long as someone guarantees the loan for you, meaning they will make the payments if you don’t, the lender grants the loan and you begin building a credit history.

We will never directly carry out a credit history check when it comes to applying for one of our bad credit loans. We understand that most people have been in financial hardship at some point of their life, the result of this could be a few negative marks against your credit history file. Our team at payday pixie will never make a decision based on something that affected your credit history file in the past and instead collect other information when it comes to checking a customers suitability when applying for a no credit check payday loan.