Many people are often unable to get an unsecured loan due to their credit history. Unlike with the secured option, an unsecured loan carries far more of a risk to the lender and a decision is only made on the lenderÂ’s calculated risk assessment that the applicant will be able to repay the loan. The lender will usually do this by asking one or more of the credit reference agencies to run a check on the applicantÂ’s previous borrowing history to determine whether or not they pos…
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