Frequently Asked Questions
Can I qualify for a secured loan even if I have bad credit?
While it can be difficult to arrange for a loan from a traditional lender if you have bad or adverse credit, a number of specialist loan companies provide secured loans to clients with bad credit. The terms will be different (lower loan amounts and higher interest) but they should be able to offer you some options.What is a credit search?
A credit search is conducted through a Credit Reference Agency, using personal details you provided in your application. This is done in order to evaluate your credit history. The credit search is reflected on your record.When do I receive the funds from my loan?
This is usually deposited into your bank account within a few days of a final decision regarding your application.How are repayments made?
Repayments are normally done through Direct Debit from the bank you arranged the loan with.What is credit scoring?
Based on the information in your application, a credit score is reflected that rates your ability to repay your loan.Can I apply again with the same lender if I am not accepted the first time?
Yes. Generally you will have to wait up to three months before reapplying, depending on the lender.When does unemployment insurance payout begin?
This is usually specified at the time your policy is arranged. It can be after 30 to 90 consecutive days of unemployment.How long does my unemployment insurance payout last?
You can specify at the time you take out the policy if you want to be covered for up to twenty-four months.
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