Unsecured Loans For People With Bad Credit History

If you are looking for a unsecured loan for any purpose, and you have a poor credit rating, there are a number of options available to you.

The first option is a logbook loan.

A log book is a loan secured against your car or van, the amount you can borrow depends on the make, model and age of the vehicle, and providing the vehicle is clear or almost clear of any out standing finance there shouldn't be a problem getting the loan approved. Obviously the documentation for the vehicle must be up to date and in your name or the name of the person who wants to take out the loan.

The beauty of a log book loan is that there are no credit checks and acceptance is almost 100%.

Another option is a pay day loan or pay day advance, a pay day loan is basically a short term cash loan until pay day, this is a convenient service as the loan can be approved the same day in most cases, this is a good option if you only want to borrow a small amount to see you over.

For larger amounts, or if the above two options are not suitable for you circumstances, then you will have to use the services of a specialist high risk loan company, the only down side to this is the interest rates are a little higher than the high street banks. This is because people who have a poor credit score are considered more of a risk.

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