It is estimated that as many as one in four of the adult population in the UK have experienced some form of bad credit. If you're having difficulty getting a credit card, personal loan or mortgage due to poor credit history, don't despair as there are some lenders who are sympathetic to people who have experienced credit problems in the past.
Adverse credit problems can be linked to a loan default, rent or mortgage arrears, missing a payment on a mobile phone bill, county court judgements (CCJs), being a discharged bankrupt or other financial problems as a result of divorce or being made redundant.
If you're having trouble getting a credit card or have been refused in the past, all is not lost as there are some credit card providers who offer credit cards to people with poor credit history, bad credit rating or people with no previous credit history.
So if you have a history of defaults, arrears, CCJs, or bankruptcy, the good news is there are a few bad credit, credit card providers who offer you the chance to rebuild your credit rating whilst enjoying the convenience of using a credit card.
Very often banks and other lenders are unwilling to provide loans to people with a low credit rating. However there are a select number of lenders who won't hold your past credit problems against you and offer loans for people with adverse credit.
You can borrow money for any purpose including debt consolidation, buying a new car, home improvements or a holiday. Products are available for tenants and homeowners.
Most mortgage lenders only want to deal with people who have faultless credit histories and substantial deposits.
But money problems can affect everyone. Sometimes people get into debt through no fault of their own and, even if they have been to blame, want to sort things out.
Only a small number of lenders offer mortgages for people with a bad credit rating. Independent poor credit mortgage brokers can advise you on the best deals.
Many high street banks and traditional lenders simply will not lend to people with poor credit history, even though the cause of the problem may have been short term. Redundancy, sickness or divorce can result in CCJs, arrears or defaults.
Some companies specialise in car finance for people who have been refused elsewhere. They're only concerned with your ability to pay now and in the future, and not with any problems in your past.
Perhaps one of the biggest changes in attitude on the part of lenders in recent times is their approach to people with less than perfect credit histories. When the credit crunch and ensuing economic turbulence arrived in 2008, lenders en masse turned their backs on borrowers who had blotted their credit copybook.
In the current market, any past financial transgression will weigh heavily against you. If you are burdened with a low credit score, your choices of financial products will be severely restricted and may have already been declined credit. However, there are still some lenders who are more accommodating and this site promotes a selection of products where you have a higher chance of approval.