If someone asks you to smile genuinely while in the pathetic condition of very bad credit situation, then? Perhaps, you cannot do that and the reason is very obvious. After all, how one can expect to have an actual happiness if financial mess is so big. Fair enough. However, you also have to believe on some solutions that are actually taking shape in the finance industry.
Very bad credit loans – Meet the smile giver
Have you ever heard about the new age direct lending? If yes, you can dare to believe that something is there for very poor credit scorers too. That ‘something’ is in the form of specialised loans that treat such complicated circumstances. To ensure the ease of the beneficiary, they are accompanied by some features. The very bad credit loans with no guarantor and no broker are for the same purpose.
The prime idea behind the loans for worst credit scorers
You borrow funds from the lender on the customised rates. The instalments are obviously small and then you pay the funds on time. At the end, when the loan is paid off on time, your credit rating shows a rise. You may not enter in that ‘good credit score’ zone but at least come out from worst credit score tag.
Relief in a small-time
If you are thinking that because your credit situation is very poor and you have to wait long for the loan procedures, then you are wrong. The purpose of direct lending is to get things done faster as the procedures happen online.
You can expect to get the funds in maximum two days. And several lenders like First Finance work on the bank holidays too, in that case you can be more sure of unobstructed borrowing.
The application process goes smoothly in 3 brief steps – apply, get approval decision and receive funds.
How to make sure you apply safe and flawless to the lender?
With already so many critical situations due to extremely low credit score, it becomes necessary to be cautious. Whatever you do, you need to be on your toes. Applying to a very bad credit loan lender demands several dos and don’ts.
- Application to many lenders at the same time? NO, NEVER, EVER
Yes, it is natural to feel the haste to get funds to get rid of huge turmoil and financial frustration. But that hurry may create a bigger worry. When you apply to many lenders at the same time, they do credit check and that leaves search footprint. Also, the lending companies take you as credit hungry. All these situations invite rejection and for sure, you do not want that.
- Cooperate with the lender and follow the guidelines
You cannot be very decisive in your loan deal while in very bad credit situation. Especially, if you are going to an established lender, the experts there know things better. They just need your cooperation to do things properly. Your responsibility is to follow the guidelines and provide every required information. Express your expectations on customisation or repayment schedules but do not get unrealistic.
The above solution of very bad credit loans can be your saviour if used in the right way. You should use the opportunity well and get to a better situation in financial life. Any by the way, there are also the options for the loans for bad credit with no guarantor. When you move from very bad credit to poor credit situation, you can take these loans to move to the fair or good credit score performance