When you are looking for short term loans, bad credit can really hinder your chances of getting approved. Whether you have a mountain of debt, miss your loan repayments, or have had your home repossessed; this tainted credit score can prove problematic.
If you’re in this position, you may think it impossible to secure funds. Luckily for you, this doesn’t always have to be the case. At Payday Agency, you can still apply for one of our unsecured loans – even if your credit rating isn’t the best.
What Are Bad Credit Loans?
Payday loans for people with bad credit scores are specially created products for people just like you. Even if you’ve been refused credit from lenders before, we offer payday loans for bad credit.
Anyone can apply for our cash advances; just as long as you are over 18, have a bank account in your name, and take home a net wage of £750 or more a month. It really is that simple.
A poor rating won’t hinder your application. As long as you meet your repayments, and meet our requirements, you’re highly likely to be accepted. A loan from us could really help you out of a sticky situation, which is why we’re proud to be one of the few lenders offering these loans.
Are There Any Risks?
Taking out any kind of loan has its risks. If you incur late fees by missing your repayments, you can leave an even bigger stain on your credit rating. You can also make your situation worse by needing to take out multiple loans to cover the cost of your initial one.
Having said that, the borrowing process can be hassle-free. Our payday loans for those with bad credit have a quick and easy application process. Our form is easy to understand and free of technical jargon; you’ll never find yourself confused by the wording we use.
We search through over 20 trusted lenders to find the one that will work best for you. Then, once approved, the money could be in your account within minutes.
How Can You Improve Your Credit Rating?
There are a number of ways to improve your credit rating in the UK. The truth is though; there is no ‘quick fix’. If you have bad credit and can’t get a loan, you should speak to a financial adviser. A professional will be able to aid your specific circumstances, and offer you the best advice.
A number of things you can do, though are:
- Make sure all your bills are paid on time
- Have a regular wage go into your account each month
- Have no standing orders or direct debits returned unpaid
Being refused credit is obviously a distressing time, but all is not lost. Our short term loans for people with bad credit can take a weight off your mind. Whether you have costly bills or a household emergency, you can still borrow the money you need in a hurry.
Poor Credit Personal Loan Guarantee!
Poor credit scorers often find it difficult availing loans. Lenders turn down the requests of such borrowers as they find them to be risky borrowers. Poor bad credit personal loan guarantee can help such borrowers avail loans quickly. These loans are specifically meant for bad credit scorers. A personal loan can be used to meet any of the personal needs like buying a car, for home improvement, financing your child’s education, paying for a holiday trip debt consolidation etc. The choice is left with the borrower. Personal loans can provide a borrower enough time for repayment of the loan amount. A borrower can also make use of secured personal loan. This loan is taken against a security but the unsecured loan doesn’t need collateral.
The rates of interest on secured loans are lower than the rates on unsecured loans.
It’s a paperless loan and there’s no risk of losing out on collateral in case of default on payment. If you require a hefty sum of money for your shopping needs you can opt for a secured loan by offering your property against it.
Borrowers in need of money urgently can make use of poor credit instant decision loan. These loans offer an easy way to deal with credit problems. Those, who wish to take out a loan for a major purchase or to consolidate your debts, can benefit form these loans. These loans are devoid of any credit check. Hence, a borrower need not worry about a bad credit score anymore. Many lenders promise an instant decision for a certain percentage of borrowers. This means that your application will need more consideration if you’re self-employed or have a poor credit rating. Bad credit personal loan gives a borrower the option of availing loans despite credit problems.
Your County Court Judgment, IVA, defaults on payment or bankruptcy situation will no more prevent from availing loans.
There are many people who wish to own a car but cannot afford to buy one due to unavailability of funds. Such borrowers can make use of a cheap car loan. These loans are available without security. Being a tenant, a borrower can still opt for a secured car loan. The car bought itself serves as a security and there’s no additional security needed. Those who miss out on car loan repayments will have their cars confiscated. If you are finding it difficult to make a choice as to which car to choose, you can seek help from professionals. Cheap car loans provide an opportunity to a borrower to choose from a wide range of car loans right from a new car, used car.