If you have had financial difficulties in the past, a bad credit bank loan can give you a second chance to reach a positive credit status.

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.

Interest rates on bad credit loans can be higher than other personal loans because of the perceived risks to lenders, but they are a readily available alternative source of funding for people affected by poor credit ratings.

Why would I need a bad credit bank loan?

If you have had a County Court Judgement against you that has not been resolved, or if you have failed to repay a previous debt, shopping for a loan, whether secured or unsecured, can prove to be an expensive and drawn-out process. Banks are often willing to loan money to you regardless of your credit, however you will have to pay the cost for your past mistakes, including a much higher interest rate.

A bad credit bank loan isn't just for those who have outstanding debt. If you are in arrears, have declared bankruptcy in the past year or have a substantial amount of debt already, you may have to settle for a higher interest loan. Additionally, you may be forced into such a circumstance even if you are relatively innocent. Whether you are self-employed or are otherwise unable to verify your income, chances are you will have to apply for a bad credit bank loan simply to