Bad Credit

How to get a loan with bad credit

Whenever a person thinks of taking a loan, the first thought is to assess his credit rating in the market to ensure that any lender would be willing to give him money on the basis of his past record of re-paying his debts on time. However, if due to some misfortune you have a bad credit rating in the market, it can be next to impossible for you to get a loan if you approach any lender directly. 12 Loans is a unique loan facilitating platform in the UK which can help you get a loan from a reputed lender even when you have a bad credit rating. For detailed information of how to get bad credit loan from 12 loans, visit their website http:/

How can you get a bad credit rating

The credit rating of any individual is determined on the basis of his discharging his obligations as a debtor. A person who repays the borrowed money on time and in fixed instalments with no defaults and due interest payment will always enjoy a good credit rating. however, credit rating can fall if the debtor does not pay the debt on time or delays payment. Moreover, if a person goes for debt management solutions like Individual Voluntary Arrangement or even declares bankruptcy, it can negatively affect his credit rating to a great extent.

How can 12 Loans help

Bad credit loans from 12 Loans is possible because 12 Loans has a network of lenders through which it can facilitate loans. As compared to lenders, the professionals at 12 Loans attempt to understand the financial difficulties and the reasons behind it for any person who approaches them. After giving due consideration to the reasons for the bad credit rating, 12 Loans tries to help the individual by bringing him in touch with trusted lenders. The same lenders may not be willing to give a loan to the same individual had he approached them directly. However, when a reputed company like 12 Loans recommends an individual to them, the lenders are more lenient in their view and are willing to take a chance.

On the other hand, if you do not have a credit rating at all because you have never had the occasion to borrow money in the past, again 12 Loans can be of big help. The team at 12 Loans will simply assess whether your financial capacity is sufficient to pay back a loan before forwarding your application to the lenders.

Debt Calculator