Poor credit is now a problem for a large percentage of consumers in the UK and is causing serious issues for people. Not only does a poor credit rating prevent consumers from obtaining credit, from mortgages to telephone contracts, it takes credit availability away from those who need it the most.
Having a poor history of repayments can make you a higher risk and getting a loan on your own may be close to impossible.
That’s why, at 1Plus1 Loans we see the need for our type of “poor credit loan”. We realise that people make mistakes in life and we like to give those people a second chance, by bringing their finances back on track.
Taking on the responsibility of repaying a loan may not be the answer for you. If you are already having problems paying your current debt, it may be better for you to seek advice from the money advice service.
Not all consumers are lucky enough to have a friend or family member who will stand guarantor for them and this itself can create a problem. Our solution is to allow tenant guarantors in the near future, opening up a string of opportunities for people presently unable to provide a homeowner friend or family member to vouch for them during an application and access the credit and gain the ability to move forward.
All credit is subject to meeting our credit worthiness and affordability criteria.
Last updated: 29/12/2020