When you apply to borrow money, the potential lender will examine your credit file to appraise your credit worthiness. They will then assign your application a credit score like excellent, good or poor. If it's a bad credit score, you will find it hard to get credit. A credit score can be termed bad when you have a weak credit history. Overdue or skipped repayments and legal judgements will have an effect your credit score. A 'CCJ' refers to County Court Judgement.

A CCJ is a judgement made in a County Court against someone in debt to someone else (a person or company) or a case where they have violated the provisions of a contractual credit agreement. A CCJ will set an acceptable reimbursement schedule so that the debtor can give back their debt. These judgements are a matter of official public record and will affect the debtor's likelihood of obtaining any more credit for the following 72 months.

Bad credit loans - also known as adverse credit loans - are loans for people who have experienced financial difficulty in the past and who may now find it difficult to get a loan and other credit. Things such as County Court Judgements (CCJ's) or a poor credit history can scupper the chances of you getting a personal loan because loan companies deem you a high risk. If you are self-employed, and even have a pristine credit history, you may find it just as difficult to get a loan due to your circumstances, which is unfair. However, there are more and more specialist loan companies that are sympathetic and able to offer bad credit loans to people - as well as loans for the self employed. Many of these companies do not charge excessively high interest rates as they have done in the past, meaning that you should be able to get a loan and pay a fairly realistic interest rate. Apart from the obvious benefit of taking out a loan for whatever purpose you need it for, having a loan can actually improve your credit scoring - making it easier for you to borrow money and get credit in the future! However, you will need to make your monthly repayments on time, and this will help improve your credit score over time.

Of course, when choosing a debt consolidation loan, do shop around. While there are understanding lenders out there willing to provide a loan without charging you the Earth, there are still, sadly, some unscrupulous loan companies. Do your homework - get several quotes; check out the interest rate and any financial penalties you would be liable for should you pay the loan off early. And make sure you are fully happy with the amount you are repaying. Here are some further details about terms associated with this topic.

When referring to a 'sub prime' lender, this is a loan company who lends money to borrowers with damaged or low / bad credit ratings. A normal borrower of a sub prime lender is someone who struggles to borrow finances from standard lenders. This is due to them having gone through financial turmoil in their history and now earning a poor credit rating. Sub prime loans are also called Non conforming loans.

A debt consolidation loan means that you take out a loan to get rid of current debts. So in essence you are lumping together all of your current debts, clearing them with a debt consolidation loan and then making just one payment monthly to settle the balance. You may find that it costs less as well, since obtaining a lower APR loan to clear a credit card with an outstanding balance accumulating interest at high APR makes perfect sense. Something else to think about is the psychological aspect of having just a single repayment every month to deal with rather than lots.

James Miller has lots of useful and significant articles that provide very helpful information not only about emergency tenant loans but also others related to instant loan with bad credit and car loan help.