Suffering from bad credit?
At Assistant Loans we can not only advise you but offer bad credit loans in your time of need!
We see it time and time again. So many residents of the United Kingdom are simply struggling to keep it all together financially over the past decade. This is largely thanks to the financial crash of 2008, something which hit not only the UK economy but that of the world as well. And with the Brexit vote of 2016, it really is not going to get any easier it seems. In fact, many economists think that these tough financial times could carry on for the next ten years.
And what has this led to? Well, people who had an excellent credit standing before, now face bad credit ratings. Some have even fallen into a bad credit status already simply because they struggle to meet their credit repayments.
And we totally understand. At the end of the day, when you have to choose between feeding your family and either paying less on a credit repayment or skipping it altogether, which one is going to be your main priority? Well, your family of course. And rightly so.
But that also means that if you have a bad credit rating, regular financial institutions simply will not give you any form of credit. So that not only rules out home loans, vehicle finance and credit cards but also store cards as well as mobile phone contracts.
Apply and you will be rejected, time and time again.
There is hope!
At Assistant Loans, we are here to help. Not only will our staff be able to suggest the right bad credit loan for you, we have a range of different loan options available, each to suit your individual needs.
Perhaps our most popular is a logbook loan. Here, you can borrow money against the value of your vehicle while you still get to use it on a daily basis. There are a number of prerequisites for this loan, however. Let’s take a look.
- Your vehicle must not be more than ten years old. We will consider offering loans against luxury cars and sports cars that are older than 10 years but that is totally at our discretion.
- You must own the vehicle.
- It must be fully paid off. There can be no outstanding financing on it.
- The vehicle must be comprehensively insured. This protects us should you be involved in an accident, if the vehicle is stolen or if it suffers damage in some way, for instance, weather damage. If your vehicle is not comprehensively insured, you will not be eligible for the loan.
- You will sign a document called a bill of sale. This makes us the legal owners of the vehicle for the duration of the loan. Once the loan is paid off, ownership reverts to you.
- We will need a number of documents to process the loan. These include your identity document, proof of address (either a letter from your bank, landlord or a utility bill will do), three months bank statements (six months if you are self-employed) and your last three pay slips.
We will tell you if you are approved for the loan (anything from £100 to £50 000, depending on the value of your vehicle) within a few hours of you applying. If you are approved, the money will be paid into your bank within 24 hours. For more information about logbook loans, check out JustLogbookLoan.
We have many other loan options so make sure you contact us if you have any queries.