I Beat My Bad Credit With A Guarantor Loan

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I had to start admitting to myself that I was a compulsive buyer, I had run up huge debts on store cards and the interest was crippling. I had fallen behind on payments and no one would lend me the money to consolidate the debts as I couldn’t prove to lending companies that I would pay the debt back. My credit score was awful.

My mum and dad had seen that I had lost weight due to stress and not having enough money to eat. I loved all the good things in life but they were just getting me into a whole heap of trouble. All I wanted was to look good,  I broke down and confessed all to my parents. They said that they would help me to get a guarantor loan. They had never been in debt in their lives and did not want me to be in this position. They wanted to help but needed to make sure that I started to appreciate the value of money.

We went to a few loan companies and came across a couple that offered guarantor loans for people with bad credit like myself. I was working full time and my dad had got me an extra part-time job at the weekends to make sure I could afford to pay back the debt. They had a house and good credit so the loan was accepted.

I have definitely learnt that you should not get a credit store card, especially if you do not have the money to pay it all back. The future is starting to look brighter and my credit score is on the mend.

Filed under Abstracts, Bad Credit Loans, Credit Repair, Debt, General by on #

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