Want A Guaranteed Unsecured Loan With CCJs ?

Unfortunately there is no such thing as a guaranteed unsecured loan when you have CCJs (County Court Judgements). Each lender assesses you on a different basis the main things took in to account are any defaults or CCJs if you have any then these affect whether your application for finance is accepted or not. The interest rates offered also depends on your personal circumstances. So the monthly payment ultimately does.

Unsecured loans are less likely to be successful if you have CCJs in your past credit file. Even if you are accepted for an un-secured the monthly payment amount due to the higher interest rate might be offered. If you are a homeowner then a secure loan is more or less guaranteed. As long as you have enough equity in your property then most secured lending finance companies will accept you. Even if you have a very bad credit file with CCJs and defaults.

The reason why the interest rates on secured loans opposed to unsecured loans is lower as the money the lender as given you is more or less guaranteed to be paid back. Even if you stop paying back then the lender can take your property from you as they normally go second charge on the property after your bank or building society.

Which type of loan is best for a customer with CCJs depends on the loan amount that is required. A smaller loan would normally be OK with County Court Judgements on a unsecured basis. However for larger loans particularly home improvements or debt consolidation that may need to go over a monthly payment term of 10 years plus we would suggest a secured credit loan. However neither loan is guaranteed and both depend on the lenders criteria and your personal circumstances.

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