If you want to take out a loan but have a bad credit rating, you will probably find your options are limited.
However, there is no such thing as a credit blacklist and even if you have a poor credit rating, CCJs or have been turned down elsewhere, there may be a lender who will lend to you.
This site provides details of some of the companies who are more willing to provide loans for people with bad credit history.
A number of people now find themselves having to turn to poor credit loans because they are unable to access credit from high street banks.
Poor credit ratings are affecting people in every section of society. In the current financial climate even a single mishap in someone's credit history, such as a missed payment on a mobile phone bill, is now taken more seriously by lenders.
Missing a credit card payment, forgetting to pay a utility bill or incorrectly setting up a direct debit resulting in a payment not being made on time can all trigger an impaired credit record. Even late payments will be highlighted on your credit file and will count against you. Such discrepancies can result in your credit rating deteriorating, which usually means you'll have to pay a higher rate of interest to reflect the increased risk you represent to the lender.
Consumer indebtedness as a result of the economic downturn continues to be an issue, therefore lenders are likely to place even greater importance on credit scores for the foreseeable future.