The sole intention here at Guarantor Loans UK is to become a primary resource within the subprime market. Providing guidance on the best loan products available in the subprime market is of great interest here, but there is also great interest in the next phase. This next phase is hopefully directing UK consumers from the subprime market towards the prime market. This transformation can be like heaven to hell, but many people who successfully make that transformation can become more balanced and organised people down the line. It doesn’t matter if your credit score sets of a flashing red alarm each time you make a general loan enquiry. Walt Disney was made bankrupt and he later went on create a multi-billion pound empire – his financial credentials if he was still around today would be better than most peoples.

The same goes for Donald Trump who hit dire financial runs with bankruptcy and yet he is today the master of business and has over a billion pound price tag on his head. There have been many more popular cases and the point I am trying to get at here is that everyone makes mistakes – we’re only human and just because your financial past might have disaster spelt all over it, that doesn’t mean that you can’t change that status. Sure, it does take time, but if you do take the all important steps then things can improve from this day on – just remember, no more mistakes. I myself have had a ridiculously bad past when it comes to debt, but I learned the hard way and this has made me a better person for it today! Becoming completely organised, becoming stress-free from debt and becoming more responsible is the positive direction that we need to head towards. Let’s look at simple ways to get back on the right pathway…

How to Improve Your Credit Score

- Are You Listed on the Electoral Roll?
It is believed that 1.6 million people across the UK aren’t! The electoral roll list shows who is registered to vote in a particular area and it is used to prevent fraud. The major credit reference agencies compile information on you, including whether you are currently listed on the electoral roll. Each time a credit check is made this becomes an important factor in determining whether you can be accepted for a loan product. If you are unsure if you are listed or not, head to the AboutMyVote website if need be to obtain your local authority’s registration form. Many people move home and simply forget to get listed and this is extremely important.

- Join a Bank That Has a Great Online Banking Facility
I recommend Barclays. Internet banking allows you to organise all of your payments from the comfort of your own home. There should be no excuse that you couldn’t head down to the bank during the snow blizzards when you can do what’s required simply and efficiently online.

- Managing Existing Debts
Plot your finances on your laptop or on a piece of paper and write down who you owe money to and how much money you owe each of them; it may help to receive a free credit report as well! Your intention will be to list when payments need to be made and importantly which arrears (if you have them) need to become priority one. From my experiences, do make sure that rent and council tax are looked at closely – if these debts go wrong you can either be made homeless or have some savage bailiffs banging down your door and these people are not very nice people at all! It would be good idea to collect all of your documentation for your finances and to then organise them neatly in a drawer. As far as managing debts goes, try to pull them all together so that you have less creditors to deal with at once.

- Communication with Your Creditors
Don’t think that ignoring them is a good solution. Try to communicate as much as you can and keep records and receipts of when you have contacted them. I talked in the debt consolidation article about organising (if need be) longer instalment plans to help your current situation – just make sure that you are sending them some kind of funds. In the future, it is always vital that you do communicate with your creditors if you can not make a payment on the specified date required.

- Payments to Your Creditors
Make sure you pay your credit card bills, loan payments etc on time, each and every time, when they should be. Doesn’t matter if you did the complete opposite of this in the past, just switch things around and become financially sound. If need be, set up standing orders that cover the minimum payments required each week or month. If you can, perhaps pay ahead of time to stay one step ahead of the game.

Switching from Subprime to Prime
At this moment in your time, you may be one those people that creditors wouldn’t touch with a barge pole – this can change. Budget your current spendings, work longer working hours so that you can pay of the debts that are causing you stress and increasing horrific late fees. You can either try to build to a point where you have no credit (all paid off) or you ideally want to get to a place where you are simply on top of your finances whereby you have become stress-free from harassing debt chasers. Just how financially sound you want to become depends entirely on your own personal circumstances. Maybe you don’t want to have another debt on your shoulder ever again, or perhaps you would like to be one of those people that gets offered super low interest rates on credit cards and loans. Whichever direction you may wish to take, just remember to follow what has been covered on this article and either way you will get there in time.

How Guarantor Loans Can Help
If every loan application you make gets spat back at you then these footprints on your credit profile are not good to have. The advantage with a guarantor loan is that there is no reliance on a credit check and so from the simple backing of a loan guarantor you can receive the desired funding and be given the chance to improve your credit score, since this guarantor loan will be marked on your credit profile as a debt that is being paid. You are showing that you can be trusted here and since new customers have access to up to £3000 – you can consolidate a number of debts into one and then spread the guarantor loan payment over a long duration of time, creating a small and more manageable monthly fee. This to me is one of the best ways to get back on the map and improve a poor credit rating. I hope the above tips can help to create a more balanced financial destiny for you.

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