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Debt Management & Debt Advice Freephone 0800 634 5521
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© Debt Emergency
Debt Management & Debt Advice
Debt Management & Debt Advice
"An unsecured loan is also known as a personal loan"
Freephone:
0800 634 5521
0800 634 5521
Non Secured Loans
A non secured loan is also known as a personal loan. Providers use different names to describe the same product. A personal loan is sometimes described as a non secured loan because it allows you to borrow money without having to provide security against it, such as your home or car.
Instead, a non secured (or personal) loans provider will base their decision on granting you the loan by using your personal credit history. This is verified by a credit check to determine your credit rating.
Instead, a non secured (or personal) loans provider will base their decision on granting you the loan by using your personal credit history. This is verified by a credit check to determine your credit rating.
How does a credit check work?
The lender will use an approved credit reference agency to make a search on your name and address, and any previous addresses, which you give in your personal loan application.
This credit check involves calculating your credit rating, which shows how risky it will be to give you a personal loan. Each time a credit check search is requested by a lender, it will be noted on your credit rating by the credit reference agency and detailed in any future credit checks.
If you have had no previous credit issues, a credit check should be very straight forward and you should be eligible for the majority of personal loans.
No. Any information we gather from you is used solely to make an accurate comparison of unsecured personal loans. A loan provider will only ask for an actual credit check when you complete and submit a personal loan application.
The lender should always inform you if a credit reference check is being carried out. And you should also be told if credit account information will be stored with a credit reference agency.
I have a bad credit rating. What can I do?
Be honest and tell us when you make your comparison. There are some unsecured loans available if you have bad credit. If our partners cannot find a suitable unsecured loan, they will provide you with details of how you can still borrow the money you require.
If the purpose of getting an unsecured loan is to pay other debts, or any other purpose let us advise if this the best option, if it is we will get you the best loan available through our panel of loans providers, however if it is not we will provide an alternative solution to give you a choice ofd options call our team of friendly experts today on 0800 634 5521.
The lender will use an approved credit reference agency to make a search on your name and address, and any previous addresses, which you give in your personal loan application.
This credit check involves calculating your credit rating, which shows how risky it will be to give you a personal loan. Each time a credit check search is requested by a lender, it will be noted on your credit rating by the credit reference agency and detailed in any future credit checks.
If you have had no previous credit issues, a credit check should be very straight forward and you should be eligible for the majority of personal loans.
No. Any information we gather from you is used solely to make an accurate comparison of unsecured personal loans. A loan provider will only ask for an actual credit check when you complete and submit a personal loan application.
The lender should always inform you if a credit reference check is being carried out. And you should also be told if credit account information will be stored with a credit reference agency.
I have a bad credit rating. What can I do?
Be honest and tell us when you make your comparison. There are some unsecured loans available if you have bad credit. If our partners cannot find a suitable unsecured loan, they will provide you with details of how you can still borrow the money you require.
If the purpose of getting an unsecured loan is to pay other debts, or any other purpose let us advise if this the best option, if it is we will get you the best loan available through our panel of loans providers, however if it is not we will provide an alternative solution to give you a choice ofd options call our team of friendly experts today on 0800 634 5521.
