If your credit report shows County Court Judgements, Individual Voluntary Arrangements, and bankruptcy you are considered to have poor credit.
While many lenders will reject your loan application,
Inspired Loans has developed a unique product to serve borrowers with poor credit.
Known as a poor credit secured loan, you will not face refusal, and you will not have to struggle to get this loan through Inspired Loans.
How Do They Work?
Poor credit secured loans have been designed especially for borrowers with poor credit. Straightforward loan refusal is not how Inspired Loans operates.
First, loan experts thoroughly review your application. Next, lenders who offer poor-credit secured loans review your credit score. Your credit score helps them decide on the terms and structure of a bad credit secured loan.
Credit Scoring Is Not Always An Issue
Since a credit score does not depend solely on past credit issues, you stand a decent chance of getting good poor credit secured loan deals.
Borrowers who have opted for a poor credit secured loan also have the right to the lower available rates. Inspired Loans recognises this right. However, the lower available rates of interest for a loan for poor credit history will not be the same as a regular secured loan.
Because offering a poor-credit secured loan involves greater risk, the interest rate will be slightly higher.
Nevertheless, poor-credit secured loans will include offers and discounts forwarded to Inspired Loans by partner lenders.