Bad Credit Problems?

There are many reasons why you might have a bad credit rating but, in the majority of cases this means:

• You will be turned down for credit by your bank or building society
• Your existing credit is in arrears or you have missed repayments on your loans or mortgage

Ocean Finance specialise in arranging people who have a bad credit rating and our range of bad credit loan planss are designed to meet all circumstances.  Our loans can be used for almost any purpose including debt consolidation.

An Ocean Bad Credit Loan Could Help If

• You have an adverse or a bad credit history
• You have current or past mortgage arrears
• You have had County Court Judgements (CCJ’s) registered against you
• You are behind with the repayments on your other credit (Debt Consolidation)

What is a Credit Rating?

When you take out credit from a bank or other financial institution they will keep a record of how your account with them is conducted with a credit reference agency.  This information forms your credit file and, if you miss payments or you get into arrears this will be recorded.

Most financial institutions will look at your credit file before granting further finance; if your file shows that you have not kept up with your repayments or your credit is in arrears they may refuse to lend to you.

The more payments you miss or the further your credit falls into arrears the lower your credit rating will become and the more difficult you will find it to obtain credit.

At Ocean Finance we understand that not everyone has a perfect credit rating and we specialise in helping people in just these types of circumstances with our large range of bad credit loans.