My bad credit is getting my loan applications rejected! How do I improve my credit rating?
BAD CREDIT LOANS, WHAT ARE THEY AND HOW DO WE GET THEM?
Your credit score or rating is what lenders use to decide if you are a risky customer or if you are a good credit risk.
If you have a bad credit rating then it may negatively affect the chances of you getting a loan.
HOW DID I GET A BAD CREDIT RATING?
Most of the time if you are suffering from a bad rating then it is probably due to an unpaid loan, or bill that you haven’t settled. If you default on a loan then the lender is within their rights to add a bad credit entry on your credit rating.
If you think you have been unfairly given a negative credit rating by a lender or biller then you should first attempt to speak with the company and try and have them reverse or remove the entry if it is incorrect. If it is correct you may be able to negotiate with them to repay the debt and have them remove or edit the entry on your account.
We do find lenders who can offer loans for people with bad credit because we believe that customers are more than just a credit rating.
We understand that sometimes situations happen that are out of our control or are misunderstood and result in an unfavourable outcome.
This doesn’t always mean you are a bad customer, and this is why we find lenders that use a different method of assessing.
The lenders we find use cutting-edge technology to decide who they approve for a loan, this technology looks at more recent spending and saving habits of an individual and gives a more accurate example of where the customer is at with their finances at the present time.
HOW DO I IMPROVE MY CREDIT RATING?
There are a few ways you could improve your credit rating:
- Make your repayments on time each month.
- Ensure you have paid any outstanding debts.
- Pay your bills on time, many people are unaware of the fact that late payments to utility and phone companies or even paying your rates late can be noted on your credit rating as a default!
- Make sure you update your address and personal details when you move, if a lender or billing company cannot get messages to you through your listed address this can affect your credit rating as a failure to notify address change.
I AM LOOKING FOR BAD CREDIT CAR LOANS, DO YOU FIND LENDERS THAT OFFER BAD CREDIT CAR LOANS?
As bad credit is not the only thing our lenders will look at, we can help you get a loan of up to $5,000! If you want to put that towards a car, be our guest!
DO YOU OFFER BAD CREDIT LOANS GUARANTEED APPROVAL?
Yes! We find lenders that offer cash loans for bad credit. We can find lenders for our customers who have had credit problems in the past, however, we cannot guarantee approval. At the end of the day, it is up to the lender that we pair you with to make the final decision on your loan application.
What’s an example of how repayments work?
Of course, if we find you a lender, they will outline their repayment process, however, we can give you an example of a typical repayment process.
Since we’ve been blessed with the internet, some lenders are able to set up automatic repayments! So, you can say goodbye to setting hundreds of reminders for repayments and say hello to quick and easy repayments.
Repayments are no problem! In most cases, there is no need to wait in line at the post office or even having to remember to bPay your repayments!
If the lender approves your bad credit loans they may ask you to nominate a day that would suit you for your loan repayments to be debited from your account.
Then, they’ll likely set up an automatic direct debit on your nominated day so there is no need to stress or worry about making your repayments!
Therefore, if you are looking for a loan but are suffering from an unfavourable credit rating, you may be wise to try to improve your current financial situation by getting your repayments in order and improving your credit rating. This will ensure you get the best deal possible when applying for a new loan!
If you are already on the way to improving your credit then why wait? Apply now and we can help you find a lender for bad credit loans and fast!