Secured or Not Secured – That is the Guarantor Loan Question

The possession of a poor credit rating and the need to obtain a loan has previously been a nightmare combination for many people.

Often leading to being continuously turned down by mainstream lenders including banks and building societies, it is not only extremely dispiriting, it can also cause even more damage to your credit rating.

The reasons for having a poor credit rating can be varied, it may be due to recent problems making repayments, you may have too much debt on file, it may be due to getting yourself into debt a long time ago as your credit history can follow you around for 6 years. The ability to repay a loan now is often well down the list of things a lender looks for and if your credit rating is not up to scratch, your application is destined for failure right from the beginning.
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