Borrowing with bad credit

People with bad credit are becoming increasingly common in the UK, and with the huge levels of consumer debt that have dogged the UK over recent years it comes as no surprise that bad debt levels have rocketed and a rising number of individuals and households have found themselves with poor credit.

In the past having bad credit made life extremely difficult, as no lender would entertain the idea of letting someone with poor credit borrow money. This meant that those with poor credit would find it very difficult or even impossible to get anything from a car loan or mortgage to a loan or a credit card.

The good news is that things have changed over the years, and tougher competition amongst lenders coupled with increasing numbers of people with tarnished credit has means that lenders have had to start looking at filling this gap in the market by tailoring financial products to meet the needs of those with bad credit.

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