Refused Credit – Guarantor Loans Could Be The Answer

Oct 13, 2014 Blog RSS feed Taking out a loan is a big decision to make at any point in time. This is especially true if you already have existing debts or are currently receiving only a low income. It is therefore very important that you choose a loan wisely. However, choosing a loan can also be a minefield if you suffer from a poor credit record. If you have recently been refused credit or have a low credit score or bad credit history, a guarantor loan could make it much easier for you to be accepted for a loan at a much more affordable rate than many of the other bad credit alternatives which are currently available. Generally speaking, lending institutions adopt the attitude that if you can get someone to stand by your side and agree to repay the loan on your behalf should you be unable to do so, this will reduce the risk sufficiently for them to look past any previous credit problems that you may have had. How Exactly Do Guarantor Loans Work? Lender responsibilities now extend fro
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