| With the housing market in turmoil, more job cuts | | | | debt to your list of rising monthly bills. A few months |
| everyday and people generally struggling financially, | | | | down the line, you will realise that this new loan is just |
| getting a loan with bad credit seems impossible! | | | | crippling you financially. |
| Actually that's not completely true. Have you seen the | | | | So are all lenders only going to offer loans for people |
| abundance of adverts on TV or in newspapers that | | | | with bad credit at really high interest rates? |
| make you believe getting a loan with bad credit is | | | | Well actually no! There are many companies out there |
| easy? | | | | that will help you secure some form of finance at an |
| I actually decided to phone one of these telephone | | | | affordable level. These companies realise that people |
| numbers to see what sort of offer i would receive. I | | | | with bad, poor or adverse credit still need to pay the |
| have provided more details of my personal experience | | | | bills. They realise you still need to keep a roof over |
| on the next page, which you can get access to at the | | | | your head and that you still need to eat! |
| bottom of this article. However, let's just say i was not | | | | You can expect the interest rates offered to be |
| impressed! It seems that many lenders seem to want | | | | slightly higher than that of a standard loan, but that is |
| to take advantage of people looking to borrow money | | | | expected because these lenders will view you as a |
| by charging outrageous interest rates! | | | | higher risk. (Please note i said "slightly higher"!) That |
| I would never suggest you take out a loan with such a | | | | being said getting a loan with bad credit, should always |
| high APR. Yes the money may dig you out of your | | | | make your financial circumstances better and not |
| current financial hole, but you are simply adding another | | | | worse! |