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16 Jul 2018

Is It Possible to Get Unsecured Bad Credit Loans?

Unless you are clairvoyant, you will never know what is around the next corner. Your car might break down and you can’t afford to get it fixed, or you need money for something else but because of your bad credit you can’t get a loan. That is where we at Bonsai Finance come in.

We have long-standing relationships with many lenders and because of our experience in this sector we can help you find the perfect unsecured bad credit loan.

Our financial connections ensure that you are only offered the best rates by our partners so that the loans they are suggesting are affordable for you. You may have bad credit, but that won’t stop us finding the perfect loan for you with the best online rates.

What Are Unsecured Bad Credit Loans and How Do They Work?

Normally, it can seem impossible to get loans for bad credit or if you have nothing to secure a loan against. Some lenders will just look at your credit rating, and if you have had an unfortunate time with late repayments or you have missed them altogether they may decide not to approve a loan for you as they deem you a bad risk. In those situations it can be possible to put up some collateral so that the lender has something to seize if you don’t keep up repayments. This is called securing the loan, but not everyone will have something that they can offer for collateral.

We also realise that there may have been unusual circumstances for your debt problems in the past and that now you may not be in the same situation, however your bad credit score won’t tell the whole story and may prevent you from getting a loan approved regardless. Luckily, we can call on our partners in the loan industry, and once we have established your current position with regards to employment and repayment possibilities, we can match you with suitable lenders who can provide unsecured bad credit loans with reasonable rates for just your situation.

Requirements for an Unsecured Bad Credit Loan

If you have bad credit and nothing to secure against a loan, you may feel there is no point in applying for help but you would be wrong. You may have a bad credit history and low credit rating but that is no barrier for us. We can find you a loan with competitive interest rates even if you have CCJs, and you can start to take control of your finances again.

All we ask of you is that you are at least 18 years old and a resident of the UK. We also need you to have a valid UK bank account and be employed full-time with a continuous income. This is all the proof our lenders require in order to quote a rate for you and provide you with a loan. It is that simple, so just fill in our straightforward online form and let us find you the solution to your problems that you can afford.

Step Up and Boost Your Credit Rating

It may seem impossible to restore your credit rating and put yourself back onto a secure financial footing, but taking out a loan can actually make a difference to bad credit. There are ways you can improve your credit score, and repaying a loan on time is one of them. You may have had problems in the past with paying back loans for all sorts of reasons and it may be that your credit rating has taken a nosedive, but we are here to help. Just fill in our simple online form, and we can go about finding you unsecured bad credit loans from our partners. As long as you continue to pay back the repayments when they become due, this could boost your credit rating and make you financially free once again.