Bad Credit Secured Loan Shows New Light To Low Credit Scorers

Dec. 16, 2006 – The people with bad credit have hit upon a new way of getting over one of their most severe roadblocks, i.e. their bad credit history. And it is the time tested secured loan where the bad credit people have found solution. Chance for Loans, which is a leading loan arranger in the UK, claims that secured loan is the best way a bad credit borrower can raise funds at low cost.

To know the ‘how’, we talked to Marion Carter of Chance for Loans. She looks after the Operations Department here and enlightened us on the features of bad credit secured loan that make them rightly suited to bad credit people. “Risk, as we all know, is basically the reason why lenders are not ready to lend to bad credit people. The situation changes as soon as we place collateral. The lender knows now that borrower has to pay the bad credit secured loan in full; otherwise, his asset will be repossessed. So, with a bad credit secured loan, borrower always manages to get hold of competitive deals, in comparison to the other bad credit loans.”

Kirsten Cairns, who was adjudged bankrupt a year ago, agrees with Marion Carter. “You surely are able to secure very good deals with a bad credit secured loan. And you benefit two ways with this loan. While you enjoy the funds, your credit score too is improving with the regular payments.”

Chance for Loans comes up with attractive offers in bad credit secured loan deals. This it sources from lending agencies operating in the UK. For borrowers, this agency has many more financial products in store, including cash loans, tenant loans, logbook loans, etc. Visit http://www.chanceforloans.co.uk for more information.

— End —