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Even in this day of easy (very easy!) consumer credit, from banks and their credit card subsidiaries, it is still possible to wake up at night with a sinking feeling that all is not well with your finances. That you owe a lot of money and it’s becoming difficult to meet loan repayments on time. That, indeed, you may end up marked as bad debtor in a credit company ledger.In the UK, secured loans and bad credit can go together. And then they do, those uncomfortable nocturnal thoughts can be a thing of the past.The function of securing a loan against an asset such as a family home, is well known. Often it is done to generate cash quickly when there is a medical emergency or an event that cannot be delayed like a family wedding. And at these times people are probably quite relaxed about filling in the forms and stepping out with enough money to meet the situation.But there are other times when getting a loan secured against a property or another type of asset comes as a tremendous relief. Perhaps a person has had a low income, has been injured to the point where even poorly paid employment is difficult, means have dried up, and family is not able to help much. For those people, the sudden discovery that they can clear their debts with a loan against the family home comes as a giant relief.