The rising debt in the UK has reached to alarming point. The financial institutions, survey companies and concerned departments are engaged in finding the reasons and to manage the situation. The recent restrictions imposed over the Govt. financial agencies including the mainstream high street banks have made it a marathon task to get a Loan from regular banks especially if one has bad Credit score. Getting no credit check loans from a Govt. agency is almost impossible because FCA has made it mandatory to confirm the borrowers’ payment capability through credit check. Can you improve credit report? Can you avoid bumps over the credit score history? Can a no guarantor loan be helpful for credit score betterment?
Why You Need ‘No Credit Check Loan’:
Having bad credit score is very common in the UK. The numbers of people even don’t know the reasons that caused the dent to their credit history. Don’t be one of those approaching the nearest direct lender providing high interest rate ‘short term loans no guarantor’ with lots of unseen expenses because knowing all the possibilities may help you improve credit report. Check the list here:
1- Late payments - The credit history accounts 35% of credit score. Pay credit card dues on the time.
2- Defaulting on payments – The presence of long term pending unpaid accounts adversely affects credit score.
3- A charge off account - An account is labeled as ‘charged off’ when a lender sees that borrower doesn’t intend to pay the balances. The ‘charge off account’ is extremely harmful to credit score.
4- Collection Accounts - Lender sells the delinquent debt to a 3rd party professionally engaged in debt collection. Avoid this situation at your best; I may even make you lose your job.
5- Defaulting on loan – Being a defaulter always make you a bad borrower irrespective to circumstances like unemployment, late salary, stopped payment, loss in business, dull business season etc.
6- Filing bankruptcy – It is the worst remark on credit report.
7- Foreclosure - The presence of foreclosure shows that you not able to keep the payments on time and you lost your property because of being financially weak.
8- Judgments-It is the legal process to force you pay the debt; almost the last action taken by the lender.
Experience Short Term No Credit Check Loan Good:
The short term loans no credit check are bad or good; the answer of this commonly asked question is ‘It depends upon the need, urgency, available options, approach, roadmap, selection of direct lender etc’. Most of leading direct lending agencies in the UK offer the variety of no fee no credit check loans for unemployed, payday loans, loans for start up business, 12 months short-term loans etc. The justification of loan type and approach depends upon your in-depth knowledge of lending industry and experience with previous borrowing.
This post first appeared on Bad Credit Loans Direct Lender In United Kingdom, please read the originial post: here
