Bad credit loans. Consolidation loans for bad credit
Credit loans history is information about the borrower of funds kept in the credit loans bureau, containing information on the fulfillment of the obligations assumed under credit loans agreements that have been concluded with banks.
The bank, when issuing a loan to you, must make sure that you comply with the terms of the loan agreement, therefore it is often required to provide an income statement, provide guarantors or it is necessary to provide the contract with collateral. At the same time, the bank is obliged to study the credit loans history of a potential borrower.
Credit loans histories are kept at the National Bank. For this was created a credit loans bureau. This bureau accumulates data on all loans received by individuals and legal entities to reduce credit loans risks.
The formation of credit loans histories takes place on the basis of information provided to the National Bank by commercial banks.
How not to spoil the credit loans history?
All banks and non-banking organizations operate according to the same rules. Therefore, the decision-making mechanism for granting a loan is also similar.
let's briefly list what needs to be done in order not to spoil the credit loans history:
- provide valid information
- try not to have late payments
- optimal age from 21 to 65 years
If you enter false information, it will fall into your credit loans history, and any bank can see that you specify information that is different from the truth. It is also a mistake to think that if you were refused in one bank, then in the other they will definitely give. The chance that they will give you a loan in another bank is always there, but it is not great.
There is a degree of risk for a bank that gives credit loans to persons under the age of 21 and over 65 — because their social status and working capacity cannot fully guarantee the fulfillment of all contract terms.
You must try to avoid late payments, because this will be reflected in your credit loans history, and upon the subsequent conclusion of a loan agreement, you may be refused or set more stringent conditions.
It is also interesting that if you have no credit loans history, then there are also risks for the bank. The bank does not know you as a borrower of cash, so it will be alarming. In such a situation, it is recommended to take a small loan in order to be sure that it will be repaid, which in the future will have a positive effect on your story, which will be the first to be paid attention to.
How to get a loan if a bad credit loans story?
There are several ways to give you a loan with a negative credit loans history:
- contact the Bureau of credit loans Stories
- use the services of a loan broker
- apply for a credit loans card
- get express loan
- secured loan
When you contact the credit loans Histories Bureau, you should write an application for changes in such a history, which in fact will be your commentary on past payments. In this statement, you specify:
- reason for the delay
- present financial position
- certificate of avoidance of delay in the future
A loan broker will help you get a loan on more favorable terms, because he has a direct connection with most banking organizations; therefore, his services cannot be neglected.
Making a credit loans card is a simpler loan option for both you and the bank; it may be worth considering this option if your loan amount is not so large.
Express loan is very similar to the previous version. However, in this case, within a couple of minutes, the bank will not be able to check all the data about you and will miss something. So maybe you are lucky and the bank will approve the loan.