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Your personal credit report holds important information about your borrowing history that banks and lenders use to determine whether they can lend to you. Put simply, a bad credit history can limit your borrowing options throughout your life, meaning you won’t get the loan you need when you need it, and ultimately pay more interest than you need to. Remember, it’s your money. At Cash Direct we know what lenders look for and can help you understand and possibly improve your bad credit over time to give you more borrowing options in the future. Ultimately that will mean getting the best loan when you need it and paying lower interest and repayments in comparison to a higher interest rate loan with a bad credit history. We all know that applying for loans can be time consuming and a stress in life, so why not start that process in the best shape you can put yourself in. You should also know that the more times you apply for loans, the worse your credit history will look to a potential lender. At Cash Direct, once we understand your personal credit history, borrowing needs and circumstances – as a responsible lender we can then help you consider the best options to borrow money that suits your needs and budget. You should also know that improving your bad credit is often very straight forward and can save you a lot of money over time.
The credit score represents a sort of score of your credit history and is what lenders will use to assess the risk of lending to you. If you default on a loan, or even utility bill like phone, gas, electricity, it can all have a major negative impact on your credit score and impact your ability to borrow in the future. You should always avoid this, but when it happens, ask for some time and enter a repayment plan to make good on that debt. That will improve your long-term credit score as lenders will see that you have a paid status on a recorded default.
Yes. We are always happy to discuss the situation that led to a bad credit situation. If we can be comfortable with that situation, and you can demonstrate an ability to make your repayments on a loan now, we can explore helping you with a bad credit loan to get you back on your feet.
Need a loan and concerned, take a few minutes to apply online now and find out if we can help.