Do "Bad Credit" loans exist?

Derivative

behindthelines wrote: »

They can't offer the amount i'm looking for and i want to avoid them like the plague to be honest but thanks anyway

I understand this, but you have to look at it from the lender's point of view. In general, people with bad credit ratings have a high default rate. The high (sometimes, insane) APR rates on loans have to represent this fact.

I wouldn't lend to my best mate at 10%, never mind a random bloke off the street with a history of court cases. Regardless of how nice a guy you are, this is how they'll see it.

behindthelines

Enfieldian wrote: »

People with CCJs (Plural....!) Don't really have a good track record with paying their loans and debts so it is pretty unlikely than any lender would risk their money.... Unless it is for a small amount at ridiculous interest rates....

Provident will receive the capital back about half way through the repayment period so if you stop paying they have not actually LOST anything.....

I only have the one CCJ, it was for a relatively small amount (£240) from an O2 bill that was paid in full in 2004.. it's satisfied and was paid in full as soon as the court order was received...but it still seems to affect my credit rating

Tixy

If you had a CCJ in 2004 then it should no longer appear on your credit file - it will only stay on for 6years from the CCJ date. So anyone searching your file now won't know you ever had it.
Might be worth checking your credit files again to see what is showing and whether there are any other problems on your files that mean you are being turned down for mainstream credit.