Financing furniture even if you have a bad credit record is possible. To benefit from such solutions, what you need to do is make sure that you do the necessary research to find a store that will work with you.

What it means to have bad credit:

Having a bad credit record essentially means that your credit record has been negatively affected, due to past actions on your part. You may have missed payments for a few months or you may be over-indebted – leading you to fail to make payments. Credit bureaus keep a record of these negative results so that whenever you try to access finance, the creditor is able to check your previous payment history behaviour.

What can you do about it?

The best way to change your circumstances is to take action. Make the necessary efforts to clear your credit record. Pay your outstanding debts. This may improve your credit record.

Fortunately there are ways to get access to finance for purchasing furniture even if you have a bad credit record.

There are leasing companies that offer specialised services. These services may be provided at higher interest rates and are personalised to a certain extent.

Lease-to-own solutions can be created, whereby a leasing company can set up a contract with you and you pay them back over a set period of time.

Payments can be arranged by way of debit order and repayments can be made over a period of time agreed upon by both parties.

To be approved, you usually need to be employed and have an active cheque account. You also need to furnish your personal details, such as identification, banking details and proof of residence.

Your affordability is assessed and is used to determine whether or not the loan solution will be granted to you.

If you are looking for such a solution, make an effort to find a company that is willing to create a personalised solution for your needs.