It is never easy to run a business and many out there (I know) agree with me on this. From the last 10 years, I am (Logan Clark) in the transport business of providing taxi service. I was doing great and had a good reputation in the industry. Things were going quite perfectly until everything went upside down due to the fire accident last year. I cannot even explain how pathetic was that for me and my business. In the late night incident, the fire caught all the taxies parked in the area, leaving a monstrous loss behind.
Things became bitter than worst
The long-term loans that I took for the business growth suddenly became bulky, as I was not able to pay the debts. I had no income but a lot of obligations that were going pending day by day. The result was obvious, expected but frightening. I got into very poor credit situation due to not paying the debts for a long time. I was not able to see any solution but to just feel stressed about my condition.
I took countless rounds of the finance companies and financial consultants to help me with some sort of solution. They looked hopeless on most of the aspects. The insurance thing was there to cover the loss, but the loans taken in the name of business were acting aggressively.
I never heard of very bad credit loans but they do exist
While discussing the problems with one of my few friends Paul Merton, I came across a ray of hope. Paul was a financial advisor and had a deep knowledge of the available opportunities. He told me about the specialized loan products that are available online. Direct/online lenders provide them. Their aim is to help the worst credit scorers break the vicious circle through the very bad credit loans uk. You borrow funds, repay on time and by the end of the tenure, the credit rating improves. I was in a desperate need of fund and took it as an opportunity.
The choice of lender was difficult until I came to know about one
The solution was there but what about the source. The loans for very bad credit were in abundance but how to know about the authenticity of the lender? Here again, I took help from Paul who suggested me one of the names that he suggested to one of his clients.
The names of the lenders were New horizons, British-lenders.uk, unsecuredloans4u and some others. I shortlisted these three and found British Lenders (the liberator) most promising. The reasons are – This lender has the APR lesser than the other ones, they provide funds on the 49.9% APR. The one I chose is much lower than this, the final rate is decided to depend on the case, but at least it is not this much high. I was given funds with the customized deal, yes, the interest rate is high in very bad credit loans but customization helped. Installments were a little big but I was given the liberty to schedule installment date according to my convenience.
My calculations went like this
|Loan amount I asked for||£8000|
|I qualified for||£7000 (Not a bad deal)|
|My tenure||12 months|
The revival was gradual but promising, thanks to British Lenders
As you know, such severe situations can never be easy. However, somehow I managed to pay my installments on time. Gradually I was improving and by the end of the tenure, I at least achieved a better state. Due to my timely repayments, I could qualify for a short-term business loan to carry on with my future plans. I know I still have to go long as the loss was HUGE but things are far better now.
My concluding note…….
However, I feel better because at least I have come out from the stressful very bad credit situation. Business is coming on track again. It will show on my credit records for 6 years but on the ground level, I am improving day by day. Few of my friends too are helping me financially. But you know what, the important help is the one which helps you make the very first step because that is the most difficult. British Lenders helped me take that first step towards betterment. Also, I am thankful to my friend Paul who told me about this life savior lender.
Description – Never ever lose hope no matter how dense is the maze. Financial matters are complicated but with reliable financial opportunities, you can always win back your peace of life just as I did due to British Lenders.