Bad Credit Loans are being advertised almost everywhere they can be. The rates of interest associated with these loans are very high. The rates are worked out based on the loan being classed as a “short term loan” and the vulnerable consumer is often caught out as this is usually the last loan to be added to a personal portfolio of multiple debt agreements.
When people search for bad credit loans they often find that they are asked to pay a fee for an online search. Do not pay these companies £50 or a similar amount to do something you can do yourself.
Loans can be taken to clear debts and consolidate debts ( put into one) but usually they just all add up to one big debt problem. The fact that you end up borrowing money at higher rates every time you manage to get approved means that gradually your average interest rate is increasing.
Call our personal debt helpline today in confidence and find ways to clear debts without loans!