If you have a bad credit rating and are having difficulty getting approved for a personal loan, there are a number of specialist lenders in this market who should be able to help.

Most high street banks refuse to lend to people who have experienced previous credit problems such as CCJs, defaults, bankruptcy, arrears or missed payments. However there are lenders who offer loans for people whose creditworthiness has been damaged.

Maybe a business venture failed and debts could not be paid, or perhaps a period out of work due to redundancy led to arrears building up. There are a number of ways in which a credit record can be damaged – even a forgetting to pay a parking ticket can lead to a County Court Judgement (CCJ) and that can have dire implications when applying for a loan.

Whatever is damaging your credit record, there is usually a way around it. The choice of lenders in this corner of the market has increased dramatically in recent years.

Poor Credit Loans For Homeowners / Mortgage Payers

Secured loans are available to people who own their own their home / pay a mortgage. Homeowner loans are suited to people who have a low credit rating or for people who have been rejected for credit elsewhere. Because you provide security for the loan, lenders are more likely to accept your application. In addition the interest rates may be more competitive when compared to the rates with an unsecured loan.

Tenants

There are a few specialist lenders who provide poor credit loans for tenants.

Car Finance with Bad Credit

There are a few specialist lenders who provide car finance for people with a bad credit rating.