If you are looking for a CCJ loan, there are a couple of things that you should keep in mind. First, you will need to look at the interest rates that the bank is charging on your CCJ loan and how they will be calculated. If you are offered a CCJ loan with a fixed rate, this means that the payments will never change, even if interest rates skyrocket. This is a very common type of CCJ loan and most people prefer this type. The second type of CCJ loan is a variable rate loan and if you have poor credit, this may be the only option open to you. When you get a variable rate CCJ loan, this means that your payments will fluctuate as the interest rate market changes. If the rates go up, the payments on the loan will go up as well. If the rates go down, your payments will be lower. While there is some risk in getting a variable rate CCJ loan, many people prefer them, particularly if the rates are already high when they apply. You will also need to pay attention to the terms on your loan to make sure that they are satisfactory before you sign the agreement.
Related reading: CCJ Loan
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