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Representative 305.9% APR. Representative Example: Loan Amount - £400 | Borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly installments of £187.31.
Interest charged is £161.92, interest rate 161.9% pa (variable)

CCJ Loan Direct Lenders

If you want to take out a loan and there is a CCJ in your credit profile, then your options are quite limited. You certainly won’t be able to enjoy as much freedom as those who have strong credit ratings and a lot of lenders won’t entertain your loan application the moment they discover that you have a CCJ. Nevertheless, you will still be able to take out a loan if you know where to look and understand what your options are. To maximize your chances of getting approved, then you might want to rely on CCJ loans direct lender.

CCJ loan lenders will have their own criteria when it comes to lending. Being at least 18 years of age, a legal resident of the United Kingdom, and have your own bank account are typically the norms. Aside from these three basic requirements, however, lenders will also look at your:

Your Income

CCJ loan lenders will look at how much money your making to determine the amount of loan that you can afford and for how long. If you’re employed, they will require you to submit a copy of your paystub. If you’re self-employed, they will require proof of income. The most likely route would be to submit tax returns anywhere from 2 to 5 years depending on your lender.

Cash Flow

No matter how large your income is, if your expenses are bigger, then this can mean a negative return. That’s why lenders will also look at your free cash flow when they evaluate your application for a CCJ loan. To have a better grasp of your cash flow, a CCJ loan direct lender will examine your expenses or typical expenses for people with your income range and compare it to the amount of money you will need to pay for your loan’s repayments.

Debt to income ratio

Debt-to-income ratio is something that almost every CCJ loans direct lender will carefully look at in your application. Basically, a debt-to-income rate reflects your total monthly earnings versus your payments on existing debts or loans. For instance, if you are earning £4,000 before taxes and you have a £1000 mortgage then your debt to income ratio will be 25%. Lenders will include all payments on every kind of debt such as mortgages, personal loans, auto loans, and the like when determining your debt-to-income ratio. Depending on your lender, you won’t get approved for a CCJ loan if your debt-to-income ratio is higher than 40% – although every lender will have a different cap.

Depending on the CCJ loan lenders, other areas in your application may also be spotlighted to determine whether or not you are eligible for a loan. They may include things like your bank account and your assets which are good indicators of savings and present resources. They may also include other non-financial things like the school that you graduated and your profession.

Finding CCJ Loans from Direct Lenders

The continuously increasing demands for loans and other loan services and the consequent increase in the number of borrowers with unpaid debts have prompted traditional lending firms and institutions to come up with a credit scoring system that has proven to be detrimental to the borrowers’ finances in the long term. This credit scoring system, which was devised and designed to help lending firms address similar problems in the long term, allowed for borrowers to be easily segregated according to the standards set forth by the lending firms. Under this credit scoring system, borrowers whom the lending institutions saw as incapable of paying off their debts in the future were easily segregated from those whom they perceived to be highly likely capable of paying off their debts with no problem at all. With this credit scoring in place, borrowers with income levels that do not meet what the lending institutions have decided as the only allowable minimum were automatically given poor credit scores, while the borrowers who either frequently or repeatedly failed to make their payments automatically had records that indicated their bad payment histories. As a result, borrowers with poor credit scores and bad payment histories were automatically precluded from securing any type of loan from any of the traditional lending firms and institutions. And although this credit scoring system was proven, without a doubt, of great help to all of these lending firms, it produced repercussions that were inevitably detrimental to the borrowers’ finances in the long term.

Since borrowers with bad payment histories and poor credit scores were no longer qualified to secure loans from any of these legitimate lending institutions and firms, they were often left to choose between securing loans from lenders operating illegally or selling off their properties in order to raise money in times of urgent financial emergencies. And while securing loans from underground lending firms do provide borrowers with the short term financial relief that they usually urgently need, the long term consequences that are normally associated with these types of loan services often leave many in even much more difficult financial circumstances. With the excessively high interest rates that are inherent to these kinds of loan services, borrowers who avail of these loan options usually end up in a cycle of even more difficult financial situations.

Getting Loans for CCJs and Bad Credit from Direct Lenders

As the number of borrowers with bad credit who found themselves in similar cycles of financial difficulties continued to increase, an entire new market comprised entirely of borrower with poor credit was inevitably created. And as borrowers continued to clamour for safer, more affordable, and much better loan services in this newly developed market, innovative new loan solutions were later on introduced by the lending firms and institutions. Through innovative new financial services such as loans for ccjs and bad credit from direct lenders, borrowers now have much better loan options to rely on in times of urgent and serious financial conditions. While it was previously impossible, individuals with CCJs or court county judgments for non-payment of previous debts may now apply for loans even despite their ongoing financial conditions. With ccj loans from direct lenders as well as other similar lending solutions, borrowers need not have to have a hard time securing loans especially in times of emergency financial situations. With the help of the latest advancements in technology and online security, as well as the continuous evolution of the lending industry, innovative new financial services like loans for ccjs and bad credit from direct lenders are now so much more easier to access.

Through innovative new loan solutions like ccj loans from direct lenders, borrowers may now easily submit their loan applications without even needing to leave the comfort of their own homes. Because everything is now easily accessible online, borrowers now have the convenience of being able to submit loan applications from anywhere, and at any given time. And since loan applications can now be easily accomplished entirely over the internet, borrowers can now expect for these applications to be processed as soon as they are submitted. Consequently, the approvals of applications for ccj loans from direct lenders can now be completed in as little as just a few minutes after the applications have been submitted. The release of funds for these approved loans, on the other hand, can now be accomplished in as little as just mere hours after these loan applications were submitted.

Due to these very convenient features of innovative new loan services like ccj loans for bad credit, these loan solutions are now being considered one of the best options in times of urgent financial conditions. But because of the fact that ccj loans from direct lenders are normally small loans that are typically arranged in such a way that borrowers can easily repay over short payment terms, these loan solutions do not make good options in addressing much more complex financial conditions. In complicated financial situations that may require loans in far higher amounts and preferably much longer payment terms, borrowers are always better off choosing secured loan options, which allow borrowers loans in much bigger amounts which they can repay with ease and far longer payment terms.

How to Get a Loan

The common misbelief in many borrowers is that just because that just because acquiring loans from the lenders directly saves them from having to pay for loan brokers’ fees, it also follows that choosing these option yields the most benefits. What many of these borrowers fail to realise is the fact that since these loan brokers naturally maintain connections to different lenders across various regions, it is a given that they also have extensive access to all these different lenders’ different discounted lending services. As a result, borrowers who opt to acquire loans with the help of loan brokering firms actually enjoy a lot more benefits and so much more savings in the long term.