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If your financial problems have reached the point where you do not see a way out and you feel as though you are drowning in debt, your best way out is through declaring bankruptcy. Filing may well allow you to get your finances back on track Thankfully, there are now several web sites that are there to help people like you with bad credit to find the fast personal loans that you need. When you have bad credit, the first thing that you should be looking for is a loan company that
As many as 450,000 people are making multiple applications for mortgages and loans before being accepted, a new study has revealed. research by GE Money Home Lending indicates that applicants for finance are having to try in several places before being offered credit.But repeatedly applying for credit is not only time consuming, it is also detrimental to the borrower, the organisation noted. And knowing where to look to find the right kind of finance could be an important thing for individuals to do, it is suggested.Head of mortgage marketing for GE Money Home Lending, stated: "The focus in the mortgage market is now on availability more than anything else, with financially strong and experienced lenders the most likely to offer credit. In addition there are a number of dedicated specialist lenders with strong pedigree who may be able to help meet borrowers' needs."But the expert said that when people are looking for a loan or a mortgage, they should as far as possible aim to apply to lenders where they feel they have a good chance of application success. Also "reputable, professional" brokers are well placed to help people, he said.The organisation claims that now is the time when the mortgage intermediary market is most important to consumers, particularly because around 450,000 people had to apply four times or more when looking to borrow money through a mortgage.Indeed, the research indicates that up to 3.4 million consumers stated that they had been declined for secured loans, unsecured loans and mortgages in the last year and a half - as a result of the credit crunch claim the organisation.Although some people call it a day after rejection, others are prepared to keep applying until they find a sympathetic lender, the company claims. It states that just short of 30,000 applicants applied more than eight times when applying for one type of loan.But consumers should be aware that each failed application could be logged on to a credit reference, so may go against borrowers in future. That is why people should think twice before making multiple applications, they added. Rather than that, it suggests the the use of an intermediary may help with the success rate.Earlier this year, the company noted that making some of the most popular home improvements, such as a loft conversion or the addition of a room through an extension, could help to increase the value of a property by more than 50,000 pounds. And for consumers looking to increase the value of their house, considering a loan to help cover the costs of such work may be one option.In a similar vein, householders have recently missed the opportunity to take advantage of capped rate energy tariffs, according to a study by the Motley Fool. Following the latest round of price hikes from utility providers, some consumers have attempted to switch to fixed tariffs, but not all have been successful, the organisation claimed.
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