What is a Bad Credit Loan?Written by John Mussi
A Bad Credit loan is a personal loan for people with bad credit rating because a bad credit rating or credit history can make your life a misery. However created, your past record of County Court Judgements, mortgage or other loan arrears can live on to deny you access to finance that other people regard as normal. Bad credit is where a borrower has a credit record which discloses a default on repayment of a debt or loan facility. Sometimes existence of a county court judgement does not mean that borrower is a bad payer as bill or debt in question may be subject to a genuine dispute. However if record shows a number of County Court Judgements this a warning sign to any financial institution of a possible bad credit. If you have a bad credit rating or adverse credit rating you may find it difficult to obtain a standard personal loan. These types of loans are also known as poor credit loans. A Bad Credit loan is a personal loan for people with bad credit which is secured on your home. It frees up spare capital (or equity) in your home for you to use on whatever you want. A Bad Credit loan is ideal if you want to raise a large amount and have a poor credit history – you may be able to get a Bad Credit loan even when you have been turned down for an unsecured loan. If you are a home owner with equity in your property, a Bad Credit loan can bring that normality back to your life.
| | Car insurance gearing up to drive down costsWritten by Richard Green
For once finances seem to be going in favour of UK motorist, with Esure (http://www.esure.com/) announcing plans to double its share of UK's car insurance market - a move which is likely to spark a price war, other internet-only direct insurers passing on to consumers savings based on their low overheads, and specialist insurers offering reduced rates for their particular target markets. A trial pay-as-you-go scheme from Norwich Union (http://www.norwichunion.com ) is also creating a lot of interest for money conscious motorists. The pay-as-you-go scheme uses a small box costing an initial £199 which is fitted in driver’s boot, to record when and for how long a driver actually uses their car. The box stays in contact with a satellite which is sent regular updates of journey data stored on box, tracking vehicle and then delivering information to insurer. The driver is then charged based upon how far at what time they used their vehicle. “We got a statement”, said one member of trial, "which showed what mileage we had done, and on what days of week, as well as if we had been driving in evenings or peak hours."
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