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You should not be overtly worried about your past blemish credit history in availing a new loan. Bad credit is seldom a big hurdle for the borrower and the lenders as well. This is mainly because of growing competition in the loan marketplace. There are not plenty of lenders who offer bad credit personal loans for any purpose like home improvements, buying a brand new dream car, for clearing past debts, meeting wedding or holiday expenses and so on.

Usually lenders like to take the bad credit borrower's home or any property that has good value in the market, as collateral. Once you have offered your property as collateral, getting any amount of loan becomes easier as you have cut risks for the lenders. Secured bad credit personal loans are thus offered without may enquires to people who defaulted on payments in past, made late payments, have arrears or county court judgments. The advantage of secured bad credit personal loans is its competitive rate of interest. Also you can borrower greater loan for larger repaying duration of say 25 years.

Unsecured bad credit personal loans are approved without collateral. Interest rate however goes higher with every drop in credit score. So check your credit score first. You would be given smaller amount ranging up to ₤25000 for 5 to 10 years of repaying duration. Make sure to check you credit score and also make efforts to first improve it a bit by paying of some outstanding debts. This way you get bad credit personal loans at desired rate.

You can locate many bad credit personal loans lenders on internet who claim to be having a suitable deal. Take rate quotes first. Compare lenders for individual interest rates. You will sure come across a lender offering you the loan at better interest rate.