Poor Credit Loans

Wiggle yourself out of financial trouble and secure your future with our bad credit loans today. Get started with us now!

How Much Do You Need?

£500
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Can I Apply for Loans With Very Bad Credit?

Bad Credit is a term used to describe a low or poor credit score. The common causes of bad credit include late payment of bills, defaulting on loans, and bankruptcy filing.

Bad credit loans are loans given to people who have poor credit scores. Getting a loan approval with bad credit from traditional lenders might not be easy, and even when you do, you’re likely to be eligible for a small loan with a high-interest rate.

At PaydayLoansUK, we realize how difficult it is for people with bad credit scores to get loans, and this is why we partner with lenders that can grant your loan request quickly, even with a bad credit score, as long as you can guarantee a means of repayment.

Do Poor Credit Loans Impact My Credit Score?

Every time you apply for a loan, lenders carry out routine credit checks which can affect your card rating or credit score. These drop-in credit score points may ruin your chances of getting a loan elsewhere.

For this reason, our partner lenders carry out only soft credit checks, which have no impact on your credit history. You are in a good position to improve your credit score if the loan is approved and you pay it back on time.

What Factors Will Be Considered When Accessing My Application?

Lenders consider certain factors when accessing your application for a poor credit loan. Some of these factors are listed below.

Credit score

Lenders carry out a credit check to know how you managed borrowed money in the past. A poor credit score can limit your chances. However, with our bad credit loans direct lenders, you can be sure to get a loan even with a bad credit score. They are in business specifically to cater to people with poor credit.

Income and employment history

Typically, lenders want to know if you can comfortably repay your loan within the loan term. They get an overall idea of this by looking at your employment history and monthly income. With this information, they can tell if the loan cost is affordable for you or not.

Value of your collateral

Collateral is any valuable asset that you can give to the lender if you are unable to pay your debt. The chances of landing a loan are higher with collateral in the discussion. The credit ceiling or maximum loan amount when you turn in collateral.

How to Apply for a Loan With Bad Credit

Our loan application process is easy, even for bad credit loans. Here’s how to apply for a loan with bad credit at PaydayLoansUK.

Fill out our loan application form

This process will only take you a few minutes. Provide the basic details - name, date of birth, contact information, social security number, and other information asked of you.

Connect with a lender

We then connect you to a large network of lenders. The lenders review your application and complete the final checks, including a credit check as required by the FCA. A bad credit score is no hindrance though. If they consider the loan affordable for you based on your debt-to-income ratio and employment history, you should get approved and sent a quote.

Review quote

Ensure that you familiarize yourself with the lenders’ interest rates and repayment terms - as provided in the quote - before deciding on what lender to go with. The quotes are free and without obligation to commit.

Get credited

 Once satisfied, sign the quote to accept it. You can expect to be credited anything from that hour to the following business day.

Advantages of Getting Bad Credit Loans From Us

Easy online processes

Applying for bad credit loans from us is easy from start to finish. Your loan is approved within minutes after filling out our application form, and you will be funded immediately.

Our bad credit loans come with a fair rate

We provide credit loans with a flexible repayment schedule, a clear and transparent rate, and no hidden charges. You have a high chance of acceptance even with your bad credit score.

We offer you many options

As an FCA-authorised broker, we connect you with many genuine direct lenders at once. With us, you can be sure to get competitive rates, from which you can make your decision.

Quick funding is guaranteed

At PaydayLoansUK, we understand that emergencies are no respecter of credit scores. So we try to empower you financially as soon as possible even if your credit profile isn’t so attractive.

Disclaimer: you won't get these benefits anywhere else!

What Can I Do to Obtain Better Rates and Higher Limits?

You need a good credit score to obtain higher loans with better rates. Listed below are some ways to improve your credit score.

Get a handle on bill payments.

Your payment history has the biggest impact on your credit score. Settle your credit commitments in due time to improve your credit score.

Make the most of a thin credit file.

Fatten up your credit card so that you have enough credit history on your report to generate a good credit score.

Consider debt consolidation

If you have multiple outstanding debts, consider taking a debt consolidation loan to pay them off. In this way, you will have just one payment to deal with and you will be able to do so faster. This will improve your credit score in the long run.

Above all, use credit monitoring services to track your process.

FAQs ( Frequently Asked Questions)

How Can I Check If I Have Poor Credit?

Before applying for a loan, you should check your credit score to know what to expect. The easiest way to do this is to check your credit report from any of the three main credit reference agencies in the UK - Experian, Equifax, and TransUnion.

Why Choose a Bad Credit Loan?

You may get a bad credit loan to consolidate pending payments and debts, do a home remodel, make a large purchase, build credit or take care of a medical emergency and other such emergencies.

How Can I Raise My Credit Score?

Time is the greatest healer, they say. This applies to credit profiles too. Ensure that you pay off any pending credit commitments and over time, your credit score will be back to normal.

Is My Data in Safe Hands?

We are a reliable FCA-accredited loan broker and partner with only good lenders. Be rest assured that your data is safe with us.

How Long Does It Take to Get Bad Credit Loans?

One of the advantages of getting your bad credit loans from us at PaydayLoansUK is that your account will be approved within 15 minutes after you apply for the loan and you should get funded within hours after approval.

How Much Can I Get?

Your approved loan amount depends on the lender’s evaluation of your debt-to-income ratio and employment history. But the max credit ceiling is £5k.

Get Your Bad Credit Loan Approved Within Minutes!

Mainstream lenders may reject your loan request if your credit score is bad, but we won't. At PaydayLoansUK, we connect you with lenders that will approve your credit loan within minutes. Get started now.

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