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- Bad Credit
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From £1,000 to £25,000
Rates from 5.7% to 278%
3-36 month repayment
Borrow up to £3,000
Rates from 278% to 1576%
3-12 month repayment
Representative example: £500 borrowed for 5 months. Total amount repayable is £991.85 in 5 monthly instalments of £198.37. Interest charged is £491.85, interest rate 236.1% pa (variable). Representative 481.6% APR.
Instalment Loans Online For Bad Credit
Instalment loans online for bad credit can present you with an amazing opportunity to get some cash fast if you have bad credit and can’t borrow money from a bank or credit union. You probably already know that the banks don’t lend to people who have bad credit scores. They don’t care if your partner left you and you got stuck with insurmountable debt, or if you had a terrible accident and needed to get into debt in order to cover your medical expenses, you’re still treated the same as someone who is a serial debtor. There is hope, though, and thankfully there are loans for people who have bad credit so read on if you’re interested.
What Are Instalment Loans Online For Bad Credit?
This is a type of loan for people who have bad credit, and they can be repaid in instalments. The application process is also done online so you don’t have to physically travel to a lenders location to do it and you can save a lot of time because of this. The repayment frequency is usually monthly, but this can also be negotiated with your lender if weekly or biweekly repayments suits you better. Because it’s paid off in installments, they can be much more affordable for people to cover because they can still budget their finances accordingly to have enough money to survive.
Why Are They So Popular?
As mentioned above, the option of paying in instalments can be great for many people because they can budget better. As opposed to other loans where you will have to make a lump sum payment to finalise the debt, these loans are paid off in small chunks. This can make it so much more manageable for many people, and they prefer this method because they can just allocate some of their pay from work to cover the repayments. In addition, the whole thing can be organised online, and you don’t even have to leave your home. The application process has also been streamlined to make it as easy and straightforward as possible without taking much time at all to complete. You could even be approved that same day or not long after in most cases and be able to have your money sooner.
So Should I Get One?
Everyone needs money at some point in their lives, and everyone has bills to pay. Whether your beloved family pet got into a terrible accident and you need to pay the vet, or maybe you have that utility bill you forgot to settle, there can be many reasons as to why you need to borrow money. Lenders who specialise in these loans aren’t like the banks, and they know how easy it is to get a bad credit score, especially if it wasn’t your fault or the situation was unavoidable. You don’t need to worry about the discriminatory attitude that the banks have, and you can just make your application online today with ease. Bills don’t pay themselves, and you’re going to have to do something about yourself, so act now before your financial problems get bigger.
Alternatively, if you think that you would like some extra security with your agreement then one possibility is to get a close friend or family to become a guarantor. If you have someone that is willing to help add security to your finance plan then visit our guarantor loans no credit check page for more information.
What if I can’t keep up my repayments?
If you can’t keep up with your repayments you must contact your moneylender immediately and advise your struggling with the monthly installments some companies will adjust your monthly installments to reflect what you can afford to pay back on a monthly basis please note that this can also extend your term of the agreement and probably the amount of interest that you end up paying back. You’re never advised to just stop paying your agreement as this may result in interest being charged on the agreement and missed payments showing on your file this could make obtaining further down the line a lot more difficult.
What do i do next?
Next is the fun bit you need to click on the apply button and fill out our simple online form designed to make sure the whole application as smooth and pain free as possible. The whole application process from start to finished shouldnt take you longer that 3 minutes its as simple as you can get.
*Subject to lender approval and requirements.