Bad credit cash loans are an invaluable product for those looking to cover a short-term emergency, but who have a mixed credit history. The problem many people have when their credit history is mixed is that they struggle to obtain further finance. At Moolr we are passionate about finding finance for all. Further finance can help you rebuild your credit rating, but should only be used in the right circumstances. Explore our site, take in the advice and decide the right path for you.
Our cash loans, or short-term loans, are known as unsecured loans. This is a loan which is not secured on any asset. Since there is no security attached to this type of loan, loan providers may see you as higher risk. Thus, interest rates may be higher than on loans that demand assets as security. This is common sense, as lenders offer rates according to trust. They want to be confident that the borrower will make timeous repayments until the debt is fully repaid. The borrower must themselves be confident that their budget allows them to make the repayments. It is a two-way bond. Bad credit cash loans may carry higher interest rates as the mixed credit rating will remove some of that trust. This does not mean you cannot acquire finance though.
The great thing about bad credit cash loans is that the lender does not impose restrictions on what you use the money for. Lenders don’t mind if you’re paying for emergency repairs on your car or for unpaid bills. It’s a way to help you out when you need it. Of course, this should only be for things that you really need. Short term loans should never be used to fund a treat or a luxury purchase. Be responsible when planning to borrow money.
As part of our overall compliance policy, at Moolr we commit to treating our customers fairly in accordance with the Financial Conduct Authority’s (FCA) Treating Customers Fairly (TCF) Principles. Our staff are passionate about what they do and are specifically trained to ensure customers are treated fairly. Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.
Our principles involve ensuring that products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are target accordingly. Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale. Where customers receive advice, the advice is suitable and takes account of their circumstances.
If you require further information, don’t hesitate to check out the wealth of advice available on this site, from our blog section to our FAQ page and more.