Bad credit. Exactly what are bad credit loans?

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Loans for bad credit are signature loans made for individuals with a credit score that is poor. They may be short term loans. Bad credit loans may be a way that is expensive borrow cash since the rates of interest tend to be high.

You may possibly have a credit that is bad in the event that you:

  • Have not applied for a loan or any credit item before
  • Are instead of the electoral register
  • Have defaulted or missed on re payments
  • Have Court County Judgement (CCJ) or Individual Voluntary Arrangement (IVA)
  • Are or have now been bankrupt

You are able to enhance your credit rating however it takes some time. Your credit rating goes back 6 years, therefore current good behavior doesn’t automatically get rid of the bad. Continue reading