There are many non banks and other financial lending institutions which take advantage of people suffering from low credit score on their credit file. Recognising their urgent need to get personal loans to rebuild their financial stability, banks and financial lending institutions charge very high interest rates for their personal loan products. Probably because of sheer desperation, people with poor credit rating think they are left with no option but to go on with their personal loan application despite the high interest rate. Making this choice proves to be more burdensome to borrowers in the long run as they try to keep up with these rates. In case they miss payments, it will surely do more harm to their already ailing credit score. This is the vicious cycle of personal loans with high interest rates and bad credit scores.
Since we have already recognised the reality of the vicious cycle of personal loans and bad credit, let us now deal on how to get you out of it.
Let’s face it– if your credit score is far from being good, getting a personal loan may be more challenging for you. Allow us to help you. With our expertise and experience in handling loan applications, we are in the best position to advise you on how to get a personal loan despite your present credit rating.
By engaging our services as your personal loan broker, we make sure that we get to the bottom of it all. We will study your financial condition and assess your eligibility for a personal loan application. We will cross check to make sure you qualify with the policy of our listed lenders to make sure that we only recommend to you lenders which will be able to provide loan products that you will be eligible for. This eliminates the risk of having multiple lender credit enquiries made on your credit report, which tends to pull down your credit rating even further.
Although some people may discourage you from getting the service of a personal loan broker,you should know better. Even if you have to pay the service of a personal loan broker, you will realize that it will save you more money in the long run rather than when you decide to apply for a personal loan yourself. Since we have an extensive network of financial lenders, we will be able to provide you with all the options available to you, which you may not actually be able to achieve if you plan on getting a personal loan yourself. You can then choose the loan product which has the lowest interest rate and has the most flexible terms.Lastly, with over 90% approval rate for the loans we have brokered for our clients in 2012, you can be sure that you have to worry no more of being rejected as we work hard to get your personal loan application approved. Also,if your patient, we have a way to turn a bad credit client into a good credit client saving you even more money.
For more information on our service, please visit our website at www.personalloanscarloans.com.au or call 1800 88 LOAN (5626) today.