Pixie Loans has been around for some time now, making loan processes easy so that people in need of money get the loans they need, without further stress.
Although we make sure to lay out a super-easy and convenient process for you by handling all the tedious work on your behalf, when it comes to bad credit guarantor loans, the process might be managed a bit differently.
You’ll be surprised to know that at Pixie Loans, we can also help you with finding no guarantor loans even with a bad credit score!
The most common practice for applying for a loan by people with a bad credit history is to present a guarantor, someone close who takes responsibility to pay a missed installment on behalf of the borrower.
Whereas, a no guarantor loan is the opposite, where you apply for a loan on your own, without presenting a guarantor to the lender.
For a person with a bad credit score, applying for a no guarantor loan might seem impossible because banks may not offer it directly. Pixie Loans uses a wide variety of lenders, so we don’t rely on high street banks providing our loans.
How can you apply?
People with a strong credit score are normally clear to apply directly through banks for a loan because there is little questioning of their credibility. But such direct processes may be difficult for people who have had a rough ride in the past in terms of finances.
Hence, Pixie Loans has been working as a broker for many years, helping people in dire need of money to borrow some without a hassle!
If you’re still confused why you should apply for no guarantor loans or bad credit guarantor loans through us, here is how we might be of help to you:
If you default on a no guarantor loan – meaning you are solely responsible to pay back the loan amount – you will need to contact the lender and tell them that you are having problems. If you do not speak to the lender, you can incur additional default chargers, additional interest and potentially a CCJ (County Court Judgement) if you continue to miss payments.
Even then, if you’re unable to pay it back, it will further decrease your credit score, making you ineligible for loans in the future, and yes, then even Pixie Loans won’t be able to help you with it.