First, it was the world’s markets crashing in 2008. Then in the middle of 2016, it was Brexit – or the decision by Britain to leave the European Union. Although these things might just be something you hear about on the television or radio news, they have affected how we live in the United Kingdom.
How? Well, we all know that our economy suffers but this then filters down to the man in the street. It becomes harder and harder for us to live our lives and get our salaries to last. In turn, we make use of credit products in ways they were not intended. For example, taking out a loan just to be able to pay your child’s school fees, or even using our credit cards to buy groceries each month. Using credit products in this way is dangerous and all it leads to is further and further debt.
And that leads to defaulting on payments, often through no fault of your own. In turn, people’s credit ratings drop lower and lower and lower. Eventually, a negative credit rating means that any form of credit is simply no longer available to them as financial institutions see them as nothing more than a massive risk.
This begins to influence every aspect of their lives. In fact, people often don’t realize the impact it can have. Take something as simple as a mobile phone contract. This is a form of credit which simply will not be available to you if you have a negative credit rating, have county court judgments against your name, if you have been declared bankrupt or if you are blacklisted.
And how can life go on without a mobile phone? Many people need them for their livelihood, for safety and security reasons or simply just to keep in contact with family and friends who live far away.
But there is a product that we have found that finally gives people with a bad credit rating the chance to own a mobile phone on a contract basis. According to this blog post, bad credit mobile phones not only allow people to secure a mobile phone across a range of contract options, it also allows them to choose from many different handsets.
How do bad credit mobile phone contracts work?
In fact, they are very simple. Find yourself a reputable dealer and simply apply for one. Many providers will allow you to apply online and can approve your application in a matter of a couple of hours. Or you could even visit their offices if you would like someone to just provide you with a few more in depth details as to how bad credit mobile phone contracts can benefit you.
You will need to supply some paperwork in your application. This includes either a letter from your landlord (if you rent) or from your bank (if you own a home) for proof of address. You will also need your last three months’ pay slips as well as three months’ worth of bank statements from your main account in which your salary is paid.
These documents help the contract provider determine how much you can afford on a contract each month. Once they have decided on an amount, they will show you a range of contract options which you can then choose from. Each contract will have handsets coupled with them. Don’t worry, there are often three or four different phones to choose from so you will definitely be able to find a handset that you like, possibly even one of the new flagship smartphones such as an Apple iPhone 7 or a Samsung Galaxy S7.
Bear in mind, some of the more expensive handset options may require you to pay an upfront deposit. This is returned to you on completion of the contract period.
If you already have a handset, consider a sim-only option. These are far cheaper and can be paid off as quickly as 12 months.