Monthly Archives: May 2016

Why Guarantor Loans are so Popular…

A Credit rating or score is a very important financial measurement these days. It is a criterion that most debt institutions use to analyze the financial standing of a person. Based on this factor and other allied elements, the lender decides whether or not to provide a loan to a potential borrower. However, nothing in this world is perfect. Small financial hiccups can occur in any person’s life leading to a black spot or stain on his or her credit history. Such repayment delays or defaults due to uncontrollable factors are hard to remove from the credit score.

In the past, having a bad credit history meant no more loans or debt. But this is not the case anymore. People with a poor credit history can still get a loan approved by the lender. These are a specialized form of loan products. One such type of loan is the guarantor loan. This is a very popular loan in the UK financial markets. They are also known as loans with guarantor.

This sort of loans, as the name implies, are not secured with a physical asset or collateral, but with the guarantee of a person. This person is known as the guarantor and has to be someone having good credibility both financially and personally.

Over a short space of time it have become one of the most popular types of loans amongst borrowers. There are a number of different lending companies and institutions that offer these types of loans to their customers. Although the loans are unsecured still they are considered to be less risky and very safe. The reason for this is that if for any reason the borrower defaults or fails to repay, the loan amount will be paid back by the guarantor.  These are easy to get, hassle free personal loans that can be obtained from online as well as offline sources. If you are looking for quick access to money and getting your loans approved without the hassle of getting into credit ratings, then loans with guarantor are the best choice for you.

There are a number of different advantages that such guarantor loans have on other types of loans. These may include the following:

•It is a method of rebuilding your credit history as the loan amount will be in the name of the borrower and not the guarantor

•Good repayment history will further open avenues for debt borrowing in future

•Easy to get

•Quick and fast processing

•Many online options available to compare and choose from

•Pricing of Guarantor loans are much less than other forms of loans

•These are less risky for the lenders as there is a guarantee to be repaid by the guarantor.

These are only few of the reasons why people opt for loans with guarantor. The popularity of these types of guarantor loans and lenders is increasing day by day because of all the advantages that they offer their customers.

Scottish Debt advisory agency win award

As the condition is today, most people in Great Britain find themselves struggling to budget their necessities and consequently land in serious financial crisis. They seek for debt advice in Scotland from professionals to help them out of the situation. If you ever find yourself in such a circumstance, it’s the correct time to avail debt advisory services help in Scotland.

A few of the reliable and trusted companies have been awarded for their excellent services that they have offered. With these agencies, you can easily pay off your big amounts reducing them into small quantities.   

What does the debt advice in Scotland do?

Now Scotland differs a little to England as they have a unique legal system. So, if you are in Scotland, there are some top companies that deal with your debt solutions efficiently.

What do they do?   

  • These agencies help you to manage debt in the best possible way.
  • They help you pay back huge amounts of unaffordable debts.
  • They know how to guide you efficiently and sympathetically.
  • If there is any case of equity release, the experts can skillfully solve the matter. You will be able to keep your asset with yourself.
  • The agency of debt advice in Scotland communicates with your creditors to make peaceful and agreeable settlements for repayment.
  • Above all, they provide you debt advice so that you can make a systematic and strategic move for all money matters.

Debt advisory agencies in Scotland follow debt management plan to minimize the payment scheme in monthly instalments.

Agencies awards:

The major firms have also won many accolades for their excellent service towards mankind. The awards range from treating clients fairly to best technology used for the year. Top debt counsellors are also honoured for their valuable and worthy guidance they extend to people of the country. These are the recognitions of their work and that’s why people in their crisis seek debt advice in Scotland.

Services provided by these Scotland debt advisory agencies:

Their job is not only to provide oral guidance. These agencies take all possible methods to reduce you pressure of reimbursement and pull you out of severe financial trouble. Have a look at the services these professional companies offer.

  • Secured Trust Deed:

With this scheme, you can enter into a formal agreement that is within budget, which is generally up to 36 months. Within this period, you have to repay a certain percentage of the amount that you have borrowed.

  • Bankruptcy:

This service best suits for those who have unaffordable debts. In Scotland, the term bankruptcy is legally known as sequestration. By availing this method, you might have to pay any of your assets in return of your debts. Although it may severely affect your credit rating yet after 3 years, you will be free of debt.

If you think you can do these things all alone, then you are sure to make the situation more complex. During severe crisis, instead of panicking, if you seek debt advice in Scotland as soon as possible, you can again live a happy life.