Get Loans for People with Bad Credit
If you have bad credit, you may be eligible for small loans for bad credit from our lenders. Whilst we are unable to guarantee approval, we do our best to connect you with bad credit direct lenders who offer high acceptance rates. Our lenders meet the highest standards of responsible lending, and only offer money to applicants they believe can afford the repayments.
Whilst our panel of lenders do offer guarantor loans for larger amounts, you won’t necessarily need a guarantor for a smaller sum. You also don’t have to be a home or car owner to apply for online loans for bad credit in the UK. We keep our application simple to reduce stress and eliminate fuss when you need clarity.
What Are Unsecured Loans for Bad Credit?
Really bad credit loans can offer a financial solution to borrowers with a poor or limited credit history. Bad credit loans UK lenders offer funds not just according to credit checks, but affordability checks too. This gives you the fairest chance to gain access to the money you need. These checks are designed to ensure you can manage repayments throughout the duration of the instant loans for bad credit. This considers your credit score, your current financial situation, employment status and cash flow.
Same Day Loans for Bad Credit With Personal Loans Now
At Personal Loans Now, we can connect you with direct loans for bad credit with no guarantor or security required. We believe that everyone should get the chance of receiving financial help when they need it. A bad credit score isn’t always a direct reflection of your ability to repay what has been borrowed — that’s why we are determined to help you find the best loans for bad credit from the lender that suits your needs.
Whether you want emergency loans for bad credit, or you’re looking for car finance, we are here to help. We’ll find you bad credit loans in the UK from direct lenders on our panel. We bring you the best pre-approved offers from lenders to best fit your situation so you can get the financial assistance you need.
You can also use our Credit on Demand app if you’re in need of bad credit loans online with an instant decision. We offer you access to not only our lenders’cash loans, but to the entire market to provide you with the best deals. The application is simple and there are no charges with using our app, giving you the loans you need quickly.
Borrow From A Bad Credit Loans Direct Lender in the UK
We are proud to offer loans from an excellent panel of direct lenders offering loans for very bad credit. With our fast loans for bad credit online application, you’ll instantly receive a list of high acceptance offers, so you can choose the best one for your needs. Debt consolidation loans for bad credit without a guarantor or security for up to £7,500 are available as well. Fill out our application and tell us what you need – we’ll help you find the right loan today.
We search the market for the lowest rates on your requested loan amount and repayment period, and our results are entirely personalised for you! It’s important to know that each lender processes your application with their own criteria, so acceptance can vary.
Get An Instant Decision with Debt Consolidation Loans for Bad Credit UK
When you apply with Personal Loans Now, we take into account all of the details you provide us with and run fast credit and affordability checks. This helps us determine whether you can afford the amount you’ve chosen to borrow before showing you your list of pre-approved loan offers.
With one application, we narrow down the best offers for you on the market to reduce the time you spend searching. This offers you a stress-free application process.
Long Term Loans for Bad Credit With No Guarantor
We eliminate the fuss of applying for a loan with a guarantor by helping you find bad credit loans without one. You can compare loans with bad credit regardless of your credit score and without the need for someone to co-sign. This ultimately speeds up the process without compromising on safety or security. Many of our lenders offer bad credit loans with a low APR, designed to offer financial assistance without relying on anyone else. All the lenders on our panel also conduct full affordability checks to ensure that a loan won’t pose a risk to your financial situation.
How Personal Loans Now Can Help with Low Interest Loans for Bad Credit
As a reputable bad credit loans broker, we help you access funds when you need them – even if you’ve got bad credit. We connect you with bad credit direct lenders offering the best rates on the market to make the low APR loans for bad credit application simple. Many of lenders provide an instant decision to ensure you’re never left in the dark. Our online application will give you access to not only cheap loans for bad credit, but to the entire loan market. Our panel of direct lenders for very bad credit can offer you the cheap loans bad credit funds you need.
Your loans for a bad credit rating application will be personalised with real-time rates available. Choose the personal loans for bad credit in the UK you want and have complete control over who your details go to. You will have peace of mind that there will be no additional searches on your credit history without your permission.
We are a bad credit loans broker in the UK regulated by the FCA. We have helped over 50,000 loan applicants just like you access the funds they needed. At Personal Loans Now, we believe affordable credit should be accessible to everyone, and that is why we have created a fair, safe and simple application to speed up the borrowing process. We have high approval rates and are fully GDPR compliant. You can rest assured that borrowing through Personal Loans Now can give you access to the funds you need with ease.
Bad Credit Loans FAQs
Am I Eligible To Borrow From Bad Credit Loans Direct Lenders?
When you apply for bad credit loans online with Personal Loans Now, we’ll connect you with a panel of responsible direct lenders who each have specific lending criteria. Most lenders will only fund loans to applicants who meet the following requirements:
- You are 18+
- You are a UK resident
- You have a regular income
- You hold a UK bank account
We will ask you for a number of personal details throughout your application. This includes your employment status, if you need loans on benefits with bad credit, monthly outgoings and your address. These details will only be used to ensure that we can offer the best loans and rates possible in the shortest time.
What Is A Bad Credit Score?
Credit scores are a numeric value given to your history of credit. This shows how ‘credit-worthy’ you are considered to be. The higher the number is, the more trustworthy you’ll appear. If you need loans for a bad credit score, this could be for a number of reasons, including:
- Limited Credit History
- Missed Repayments On Existing Loans
- High Levels Of Existing Credit
- Incorrect Details On Your Report
When you have a low or bad credit score, you’re deemed untrustworthy by lenders. This is why it can be difficult to get short term loans for bad credit in the UK when you need them. All lenders, including bank loans for bad credit, will run a credit check before accepting your application, using one of three UK-based credit reference agencies:
- Experian – 0-560 Is Poor, 961-999 Is Excellent.
- Equifax – 0-278 Is Poor, 467-700 Is Excellent.
- CallCredit – 0-550 Is Poor, 628-710 Is Excellent.
They will use this information to calculate the risk of lending that loan amount to you. As safe lenders, all Personal Loans Now lenders perform credit checks as part of their decision processes. However, your credit score is only one of many factors they take into account when deciding to accept applicants. Therefore, our lenders have high acceptance rates, even if you have a bad credit score.
How Do I Improve My Credit Score?
While you can get bad credit loans through Personal Loans Now, improving your credit score can set you up for larger loans in the future. Our panel of responsible and safe lenders do not offer bad credit loans with no credit check, so you’ll want to look into the cause of your poor credit. For those who haven’t had much credit in the past, you can improve your score by taking out more credit. Paying it back in the agreed instalments will help to build a healthy credit history. Those who have defaulted on payments in the past, or have a CCJ, will require a little more work to improve their scores.
By meeting repayments and paying your debts, you can be in a more secure state to borrow more money at better rates in the future. You can consolidate your debts into a single loan with a lower interest rate in some cases. This will help to make these repayments more manageable overall.
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Will a Loan From Bad Credit Loans UK Lenders Improve My Credit Rating?
If you get accepted for a bad credit loan, it will work in the same way as any other loan with your credit score. If you meet the agreed repayments in full and on time, you could see your credit score improving. This will happen providing you are keeping up with any other debts or payments throughout the same period. You need to ensure that you are maintaining all loans or consolidating your debts into a single payment. This will help to ensure that all payments are on time each month.
If you default on a loan, this can have an adverse effect on your credit score. All the lenders in our network are regulated by the Financial Conduct Authority (FCA), and will only lend to applicants who can afford the loan. They will not accept applications if they decide that funding a loan is likely to leave you in a worse financial state. We support responsible lending, and are eager to give every borrower a chance. However, it’s important to ensure you only apply for what you can afford to borrow. This will help to increase your chances of gaining loan acceptance.
Are Bad Credit Loans Safe?
As a trustworthy broker, we work hard to make sure that our every lender in our system lends responsibly. Each of our lenders has full checks and security in place to ensure the safety of you and your loan. We understand that a bad credit score doesn’t automatically mean you can’t afford a loan. Nevertheless, the lender you choose to apply with will always run affordability checks to make sure that you don’t run into any financial trouble. We don’t want you to have a loan agreed that you can’t comfortably pay back.
Rest assured that with us, you can access the money you need without fear of running up high-interest rates. You’ll also not cause your credit score further harm, providing you keep up with the agreed repayments. We’ll connect you with lenders who will consider your current financial situation and work out feasible repayments with you. We want to help you find the right loan, but we’ll never forward your details to another lender without gaining your permission first.
Are Bad Credit Loans Unsecured?
At Personal Loans Now, our wide network of lenders gives you access to both secured and unsecured loans. When filling out your application, you can specify if you prefer to only search for unsecured loans. This means that you can borrow funds without having to put any of your assets at risk. Whilst secured loans require you to put up your home or car as collateral, unsecured loans put the risk on us as lenders. For this reason, interest rates may be slightly higher. However, you can benefit from the peace of mind that your valued assets aren’t at risk.
Apply now for Bad Credit Loans to see your personalised rates!