Bad Credit Check Loan Helped Me To Build A Credit History

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I looked everywhere for a loan. I applied online on numerous loan websites and at my own personal bank but I could not get a loan. Everywhere I went to turned me down. It didn’t really seem fair that I was being penalised just because I had never borrowed money before. It was more than unfair. I earned good money and had an active bank account and I had been at my job for over five years, so what was the problem?

Apparently Loan Companies and Banks have had to become stricter since the credit crunch and that means they have to be careful of people like me. They simply don’t know that If I get out a loan I will be able to pay it back, I am too much of a risk for them. They said to me the only way I could lend money is to find a guarantor. This way the loan is processed on the guarantors good credit, not my none existing credit, so I can start to build a credit score. This loan is classed as a bad credit loan for people in my situation.

My requirements were to find someone suitable to become a guarantor for my loan. They would need to have a perfect credit score, own their own property and be willing to take on my loan should I default on payments. This means they would have to be willing to pay it back in full. This could be anyone but who is going to want that responsibility on their shoulders.

Luckily for me that person was my Dad. He has helped me to build my credit score. I am happy in my job, I still live at home and I have more than enough money to pay back my loan in full.  This loan will help me to be a bit more independent in the future.

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