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By: Fred Wasserman

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Wednesday, 20-Apr-2011 16:53 Email | Share | | Bookmark
Can You Get Quid Loans With a Poor Credit History?

A poor credit rating can prevent any consumer from being able to get access to finance, particularly from traditional sources. Due to the banking collapse and continued global financial slowdown, lenders have to be even more particular about who receives loans and who doesn't. Invariably this means that many with a poor credit history suffer. However, one solution may be a Quid Loan.
Most payday loan providers have a much more open policy when it comes to lending. Rather than excluding some applicants on the basis of their credit rating, they are willing to consider other more prevalent factors - such as salary.
The unfortunate thing about the credit rating system is that a consumer can be downgraded due to historical irregularities. It is a snapshot of your financial history over the last six years and therefore issues from your past can have a huge impact on your present rating. Therefore, whilst it is a solid indicator, there are inevitably some issues with the system that mean hundreds of thousands of people can't get finance.

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