'Blacklisted' Borrowers Set To Benefit From Banking Bail-out

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'Blacklisted' borrowers are set to benefit from the Government's new banking bail-out - despite fears that credit terms could remain tough in the recession, say debt rescue experts at Credit Problems No Problem (http://www.creditproblemsnoproblem.co.uk).

'Blacklisted' borrowers are set to benefit from the Government's new banking bail-out despite fears that credit terms could remain tough in the recession, say debt rescue experts at Credit Problems No Problem (http://www.creditproblemsnoproblem.co.uk).

The Government's multi-billion pound bank bail-out - the second in a matter of months - will make it easier for borrowers to obtain 'bad credit' loans online as specialist lenders turn to the Treasury to underwrite billions of pounds of funding, predicts Credit Problems No Problem.

"The decision to launch a second bail-out of the banks was always going to be controversial and emotive," said a spokesman for Credit Problems No Problem - which specialises in unsecured loans online for people with County Court Judgements (CCJ's) and defaults.

"However, as long as the banks do not treat it as an excuse to borrow recklessly at the taxpayers' expense, this bail-out could be an important lifeline for families who fear they've been 'blacklisted' by the major lenders."

Credit Problems No Problem has already been taking action of its own to help safeguard the interests of 'bad credit' borrowers who need fast cash loans online.

For months the unsecured loans experts at Credit Problems No Problem have been widening their circle of lenders to ensure a steady flow of cash to 'blacklisted' borrowers needing funds.

The aim is to help borrowers who believe they have been 'blacklisted' to secure better 'bad credit' loans online - enabling them to consolidate their debts, cut their interest payments, pay off their debts much more quickly and help repair their damaged credit rating.

By significantly increasing its circle of lenders, Credit Problems No Problem is making sure that debt-stricken families can still get the unsecured loans they need: "If one lender decides to lend less or make its terms tougher, another can step into the breach," said the spokesman.

"That helps 'blacklisted' borrowers gain access to a wider range of finance sources - at a time when the Government's new banking bail-out is supporting lenders with insurance to give them greater confidence to borrow and lend."

Under the Government's second bail-out, the Bank of England will be able to buy up to £50 billion of assets directly from firms:

  • Banks will be able to cover their expected bad debts with Government insurance
  • The Bank of England will be able to buy stakes in companies in all sectors of the economy
  • Northern Rock has been given extra time to repay its loans from the Government
  • The Government is increasing its stake in Royal Bank of Scotland (RBS) from 58 per cent to nearly 70 per cent.

Under the terms of the bail-out, lenders will agree with the Government how much they could lose if a loan were not repaid. The Treasury will then sell insurance to cover around 90 per cent of the loan.

"Critics of the latest bail-out proposals have expressed their concerns, particularly as it comes so soon after the first rescue package for the banks," said the spokesman for Credit Problems No Problem.

"But the financial institutions need to be able to borrow and re-lend with confidence. In these tough times, it is vital that these funds cascade down to the hard-pressed families who worry about being blacklisted and urgently need money to help them restructure their debts and pay off what they owe."

Credit Problems No Problem holds a Consumer Credit Licence issued by the Office of Fair Trading. The company is also covered by the Financial Ombudsman.

Credit Problems No Problem is also registered with the Information Commissioner's Office for Data Protection.

For rapid help, phone 0800 412 5634 or visit http://www.creditproblemsnoproblem.co.uk

Notes For Editors

http://www.creditproblemsnoproblem.co.uk

Credit Problems No Problem Ltd
TBC House
Cavalier Road
Newton Abbot
TQ12 6TZ
United Kingdom
Tel: 0800 412 5634

Credit Problems No Problem was formed in 2003, bringing together a team of specialists that together offers 27 years of expertise to help applicants gain the unsecured loans they need.

From its UK head office in Devon, Credit Problems No Problem operates across Britain, sourcing loans for people with bad credit.

Credit Problems No Problem holds a Consumer Credit Licence issued by the Office of Fair Trading. The company is also covered by the Financial Ombudsman.

Credit Problems No Problem is also registered with the Information Commissioner's Office for Data Protection.

No fuss service - guaranteed.

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