Unsecured loan and that is without a guarantor? Yes, it's possible now! Even if you have a very bad credit history in past but currently you have a steady income source to repay the loan means you are eligible for bad credit loan direct from the lender without paying any broker fees.
The lenders verify your credit history to check your score to determine if you are a good candidate to grant credit to.
The credit score falls into two main categories good credit score and bad credit score. The credit score can be between 0- 999. Higher the score, the higher are your chances of getting a loan. A low credit score usually makes it difficult for the person to get a loan from the lender.
With Everyone Finance you don't need to worry about your credit history, we do have loans for very bad credit and the rate of interest may vary a little bit according to your credit record and yes, of course, good credit score always gets a very low-interest rate.
Refer here to see the distribution of bands according to your credit score:
Score | Band |
---|---|
0-299 | Very bad |
300-579 | Bad |
580-669 | Fair |
670-739 | Good |
740-799 | Very Good |
800+ | Excellent |
No guarantor means that you don’t need a co-signer to get a credit from a lender.
To understand the No guarantor let's take a quick look at what Guarantor loans mean. They are loans that require a co-signer for that borrower to get a loan from the lender.
That means if for any reason the borrower is not able to make the repayment of his credited loan, the guarantor i.e. the co-signer will take up the responsibility for paying the loan amount on behalf of the borrower.
Now we know that what bad credit and no guarantor means, let's understand the concept of no guarantor loans for bad credit.
Loans for bad credit no guarantor is the type of loan which can be given to a borrower despite his bad credit score or even if he does not have any bondsman.
People often don't apply for loans because of their bad credit score and because they don’t have anyone who can back them.
But that is not an issue for lenders now as they are giving loans to people having bad credit and no guarantor.
The credit score depends on several factors it depends on how you manage your debts and finance. It means that you should have a good debt clearance rate, you should make your repayments on time, no repayment amount should be pending. Having a bad credit score makes it hard to get a loan, but it isn’t impossible. If someone lends you money even if you have bad credit, the chances are you would have to pay it with an interest rate higher than usual.
As mentioned above getting credit is now a lot easier even if you don't have a guarantor or you have very bad credit. The easiest part then that is applying for a loan, there are a lot of lenders accepting online application. Fill in the details submit and the amount gets credited to your account with 15 minutes. Apply today and get very bad credit loans no guarantor no broker direct lender. Apply Now!