If there is one thing half of this world finds indispensable today, it has to be credit.You find yourself admiring, and well, debating with yourself if you should the 65 GBP worth shoes; that or eagerly wishing for an low risk car loan. But here’s the thing, you have a damaging bad credit history from your previous loan.
Now, what are your options? And to point it out, do you?
Starting off, let us first understand how we generate a bad credit history, as well as its implications. You find yourself deciding to charge the 65 GBP worth of shoes you have coveted. This goes on for a few more counts, having charged your mortgage, as well as the mobile phone bill in your tab.
Belatedly realizing that you have more than you can handle – hence, being unable to pay them, as you should. How financial institutions go about it is giving you a poor credit standing. With a score card in hand, this being a certain tool with a criteria, they would be able to rate whether you are (or will be) financially responsible. More so, they will be able to determine whether you are near bankruptcy, or down the pit hole.
This then makes it difficult for you to get credit for just about anything – as being unable to get yourself anymore of those fancy shoes, or that dream car. Worse, it may transcend to difficulty in getting a job (in cases when you are scouting for one). With a bad history, in the true sense of the word history, it would be very difficult to regain credibility once you apply for an easy loan or cash advances, for example.
Difficult? Yes. The real world can be very harsh in such circumstances, or especially in this circumstance, despite many attempts to revert this bad credit rating.
So what’s the fastest or easiest remedy? Applying for a loan that does not require a credit check.
With only a British passport and a UK address (where the bank will send your statements to), it would be rather easy for you to avail of this non status bank account. You can check with a number of banks that offer this, as Barclays, HSBC,Llyoyds, NatWest, Abbey and RBS.
You can check the packages they offer, as well as that of their basic current accounts. Don’t expect you’d get a Visa or Mastercard, though. This would highly be unlikely. What you would be getting would be a bank card you can simply use in an ATM to withdraw cash.
Hence, it wouldn’t matter if you have the poor records, be they through bankruptcy, insolvency, CCJ, or default. These banks are your options in allowing to open a current account to pay your bills accordingly, and work onwards for a better credit score.
Now, you would be very careful when you eye on any lovely footwear you pass by, right?