Loan on Bad Credit

[Chuck]

Say I have bad credit. How can I still avail of loans?

[David H]

I'm curious. Why would you want to have a new loan when you are having trouble paying your current ones?

[Chuck]

I don't have credit problems. In fact I'm looking to invest. I'm just asking that question out of curiosity. Are you saying then that it is possible?

[Prof Henry]

I don't have credit problems. In fact I'm looking to invest. I'm just asking that question out of curiosity. Are you saying then that it is possible?

Why do you think we are in a financial crisis?

[Ted]

I don't have credit problems. In fact I'm looking to invest.

Planning to take advantage of the slump?

[Prof Henry]

Say I have bad credit. How can I still avail of loans?

Because of the number of people with bad credit applying for loans, some lenders are now willing to risk it. There are two forms. Secured and unsecured. You can read about unsecured loans here.

Regardless of what type of loan you apply for, the amount you can usually get is between £5000 to £75000. If you want something higher (which I would advise not doing) than £75000, you have no choice but to have a collateral of very high value. Repayment duration of these loans ranges between 5 to 30 years.

[Daniel Smith]

Because of the number of people with bad credit applying for loans, some lenders are now willing to risk it.

Again? Haven't they learned their lesson yet?

[Chuck]

Planning to take advantage of the slump?

Something like that.

[Chuck]

Regardless of what type of loan you apply for, the amount you can usually get is between £5000 to £75000. If you want something higher (which I would advise not doing) than £75000, you have no choice but to have a collateral of very high value. Repayment duration of these loans ranges between 5 to 30 years.

These are actually good amounts if you ask me.

[Hyverlith]

Again? Haven't they learned their lesson yet?

Why? What do you mean?