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A bad credit rating needn't haunt you forever

When you're looking for loans bad credit history is the kiss of death: it makes some lenders shun you, while those that will still lend you money charge hefty interest rates for the privilege. However, a bad credit history isn't permanent. Can we fix it? Yes we can!

When it comes to loans bad credit history means less choice and higher interest rates – but a bad credit record isn't permanent, and you can take steps to fix it. The first thing you should do is stop applying for loans: unsuccessful applications stay on your record for up to 12 months, and they act as a warning sign to other lenders.
Rather than ignoring it and applying for loans bad credit history is something that you should try and fix before incurring any more debts. That means budgeting and possibly getting help with your existing debts; the The Consumer Credit Counselling Service runs a freephone number on 0800 138 1111 where you can get practical advice about sorting out errors on your credit history, dealing with your debts and getting back on your financial feet.
If you're having real problems with existing debts, think very carefully before considering any type of loan – especially those designed for people with a bad credit history, which tend to be expensive. Sorting out your credit record can take time, but it will pay dividends in the long term. helps you find the best loans companies for your specific needs, and gives you background information on the various types of loans available in our loans articles, more loans articles and still more loans articles.

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