subject: Low Credit Score Loans - Fix you financial gap any time [print this page] Low Credit Score Loans - Fix you financial gap any time
Even if your credit score has curved in to new lows, still you can discover many lenders, who are ready to offer you a loan. These lenders have particularly planned Low Credit Score Loans for people, whose credit score has forced to below 550 on FICO scale or who are normally objectionable to other lenders because of host of trouble like late payments, arrears, CCJs, payment defaults etc.
These high risk borrowers can use the loan for multiplicity of purposes like redecoration of home, vacation tour, marriage, car purchasing. The loan can reimburse your old debts as well. At the same time, if you make regular payments for your loan then it will help you to improve your credit score. There are some conditions which you need to complete before going for bad credit loans and that is you must be UK citizen and also 18 years old. You must have permanent job with the bank account. If you have these qualities then you can easily apply for these loans.
Low Credit Score Loans are made available in two forms secured and unsecured. The secured form of loans required collateral to pledge. You have to provide some property like home to your lender against the loan money. The loan amount comes around 5000 to 75000 depending upon your collateral value. You get 5 to 25 years to repay the loan amount.
When it comes to unsecured form of loans you get small amount of money in comparison of secured form due to absence of collateral. But still if you are planning to take small amount of loan then it is the best option. The amount comes around 1000 to 25000 for the time period of 6 months to 10 years. It depends upon your financial condition how much amount you get.
