Bad Credit Loans

Don’t Break that New Year’s Resolution because of Bad Credit

2016 has landed and is now well underway, so how are the New Year’s resolutions that we made coming along? Are you staying strong and sticking to the plan, or have you started slipping and resorting back to your old ways?

In research carried out by YouGov, specifically looking at New Year’s resolutions in Britain, it was discovered that 63% of people involved in the study were planning to make a new year’s resolution. †Those resolutions generally consisted of the usual suspects, the ones that we have all made ourselves, or watched friends and loved ones try to achieve. Aims such as losing weight or to get fitter and eat healthier were amongst the most popular. Making time for friends and family were also high on the results list.

The research also asked the question as to whether those involved would stick to their resolutions and how long it took before they were broken. Sadly 3% of people admitted to breaking them the same day, with a further 8% of people making it to the end of the first week. 13% managed to make it all the way to the end of the first month but only 1% of subjects were able to make it through the entire 12 months. 10% of people stated that they never break new year’s resolutions!

So what should we take from this? Only a few people admit to being able to make and keep a resolution that becomes a permanent change, so it makes you wonder why we make them at all?

The bottom line is that we make them because we know they are good for us in the long run. They act as a reminder of what we have been meaning to change but simply haven’t got around to it yet. Removing a bad habit or a negative lifestyle choice can only be a good thing, so don’t feel bad if you don’t manage it the first time around. Stay positive and try again but you don’t have to wait for the new year to do it!

Moving the subject on slightly, if you are on the George Banco website reading this blog then there is a possibility that you have a financial issue on your mind. Why not address the issue by making it your resolution to resolve the problem permanently? Instead of making a New Year’s resolution to eat better or to get out more, why don’t you make one resolution to focus on your bad credit?

If you have ever suffered from bad credit you can find that it will play on your mind more than anything else in your day, it can become all-consuming, affecting every decision you make, especially if you need credit and quickly. In order to resolve those feelings you need to take control of the situation and to do this you need to understand exactly what the issue is and how it can be addressed. †The following three steps can help.

Understand what the credit agencies see when they assess you

There are a few credit reference agencies out there to help you gain a better understanding of why you have bad credit. †The two main agencies are Experian and Equifax, both of which offer online tools that can help you pinpoint what has caused the issue (if you don’t already know) and what can be done to resolve it.

Get a clear understanding of your finances

The next step should be to clearly understand your personal finances. You can do this by creating a personal budget spreadsheet, we covered this in an earlier blog if you would like to read it please click here. It won’t immediately fix the issue but it will help shed light on the bigger picture.

Understand where you can access the bad credit funds needed

If you have followed the previous two steps you should at least be in a better position to know where you stand with your personal finances and what you can do to address the issue of having bad credit. The remaining step is to find out where you can access money quickly. Many people assume that because they have been turned down for a credit card or a bank loan in the past that they will automatically be refused credit everywhere, but this is not the case. Here at George Banco we specialise in loans for borrowers with bad credit and our application process is easy to complete. You simply fill out the form and we do the rest.

We have been providing these types of loans for 3 years now and have helped thousands upon thousands of people with bad credit histories to access the necessary funds despite them being refused elsewhere.

So if you have already given up on your New Year’s resolution, make another one now – fix your personal finances and be part of the 1% that stick to it!