Bad Credit Personal Loans
Bad credit personal loans from cheap loans
Cheap loans extensive portfolio of products, allows us to place customers for bad credit personal loans, achieving success where most others would fail. We consider all types of applicants, and do not turn people away just because of County Court Judgements (CCJ's), defaults or any other factors, which may count towards your bad credit status. We thrive on a challenge, and have efficiently adapted our processes to return fantastic results for people seeking a bad credit personal loan.
Are their any levels of bad credit, which you would not consider?
We aim to help each and every visitor to our site, and try to not disappoint any of our customers
in their search to find a bad credit personal loan. Sadly, there are a few scenarios in which we
are unable to assist. These consist of the following: -
- If you have recently been declared bankrupt or are still registered as a bankrupt, unfortunately, we are unable to help. One of the main stipulations of bankruptcy is that you cannot acquire any more credit whilst your status remains. We do however have some success in placing post-bankrupts for bad credit personal loans.
- People who are involved in an active IVA or Individual Voluntary Arrangement are also restricted from applying for any more loans. For this reason, we are also unable to place IVA candidates, but we are able to help post-IVA applicants.
With the exception of the above listed cases, we welcome all other bad credit candidates to apply.
How much can I borrow?
If you are looking for an unsecured bad credit personal loan, our typical maximum advance is currently around £7000. Some applicants may be entitled to more, but it will be at the discrepancy of our lenders, and balanced against the conduct of your past credit history. Homeowners are usually in a much better position, and can potentially borrow up to £150,000.
Are their any alternatives to a bad credit personal loan?
There is one other popular alternative to a bad credit personal loan, which may be suitable if your intention is to consolidate your debts. To offer a broader range of financial solutions to our customers, cheap loans have established a closely knitted working relationship with one of the UK's leading debt management firms. Features of the debt management process can be found below: -
- Debt management is a financial solution for people who are struggling to cope with their debts.
The process essentially involves negotiations with the individual's creditors, whereby the freezing
of further interest and charges is agreed. The DM firm, on behalf of its client, then manages payment
of all outstanding debts, and negotiates extensions of terms to make the debt more affordable.
- DM does not require any further loans or credit to be taken out, thus reducing the chance of
ascending further into debt.
If this process is of interest to you, we offer a facility to apply for DM on the back of our bad credit personal loan form. Simply complete the form (choosing debt consolidation as your loan purpose), and the option to explore debt management will be presented to you after clicking the apply button.