Borrow £250 to £3,000
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- Bad Credit Accepted
- Fast Payout
- No Fees
- Secure Application
Short Term Loans
£250 – £3,000
Online decision
Responsible lenders
Rates from 278% to 1576% APR
3 – 12 month repayment
Personal Loans
£1,050 – £3,000
Whole of Market panel
Trusted panel of lenders
Rates from 5.7% to 278% APR
3 – 36 month repayment
Representative 481.6% APR.
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).
Bad Credit Instalment Loans Online
Key Features
- Instalment loans are a popular way of lending by making regular repayments.
- If you have bad credit, an instalment loan can make managing your finances easier.
- Comparing UK direct lenders will help to keep the interest rates (and therefore repayments) as low as possible.
Bad credit instalment loans online offer a fantastic way for people with bad credit to get access to much-needed funds fast. These loans are considered to be an absolute godsend for many people, and without them, they would have become destitute. It’s common knowledge now that the banks and credit unions only care about your credit score when assessing a loan application and their circumstances as to how you got bad credit is meaningless to them. You could have been in a terrible accident and had no choice but to get into debt to cover medical bills and wound up with a bad credit score as a result. Guess what? The banks still don’t care, and your current income level and ability to make repayments is also irrelevant to them. So, what are you supposed to do?
Borrow anything from £100 to £25,000 today.
Quick online application takes minutes.
What Are Bad Credit Instalment Loans Online?
These loans are designed for people who have bad credit, and they are to be paid in instalments. The application process is also done online, so there’s no need to have to physically go and visit a lender at their place of business. The pay frequency can be agreed upon by you and your lender, and you may be able to enter into a weekly, biweekly, or monthly repayment cycle. Because the loan is repaid in multiple chunks rather than a lump sum, the repayments can be a lot more affordable for many people, and that’s why these loans are very popular.
What Are The Benefits of These Loans?
Because this loan gets repaid in instalments, you have the opportunity to pay it back slowly over time while still having enough money left over to survive. This can make it so much easier for people to still live their lives as they were before without having to sacrifice too much money at the same time. This can really enable you to cover an unexpected expense which has arisen out of nowhere and let you get back to living your life without having to worry about it anymore. If you have found yourself in a bit of a tough financial situation and need access to some money quick, then you need to act now and do something about it. You already know that the bank is not an option and they aren’t going to help you. So, why not take a look at bad credit instalment loans online to try and fix your troubles?
Should I Get One?
Financial predicaments don’t tend to fix themselves, and they require action to be taken in order to make something happen. This is exactly what you need to do, and you now know about a type of loan which can aid you in doing so. Whether you need to money to pay the handyman who made urgent repairs to your home or perhaps you have an overdue bill you forgot about, you could be approved for your loan application within 24 hours and in some cases on the same day if you apply for it online. Alternatively if you are thinking of adding extra security to your agreement or just looking to reduce the interest rates by minimising the lender’s risk then adding a close friend or family member to the plan as a guarantor can be a great way to do this. If you have someone that can fill that slot and think it would be a good idea then visit our guarantor loans no credit check page to get more information or apply now.
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More Bad Credit Online Installment Loan FAQs
Will multiple applications affect my existing credit history?
Owing to the fact that lenders may sometimes check your credit history when you apply, applying for multiple loans could have a negative effect on your existing credit history. It’s important to only apply if you know you will be able to repay your loan on time.
What type of information must I give when applying?
When applying for bad credit loans online, you will be asked to provide the following information:
- Your full name
- A valid UK-based physical address
- Proof of any income you receive (whether you’re employed or receive disability, for example)
- Details of an active bank account that can be used to deposit loan funds into
- A valid and active mobile number – this will be used to verify the rest of your information
How is a decision made regarding the amount of cash I can borrow?
After you provide information pertaining to your current income and expenses, the lender’s online system will calculate how much you will be able to safely borrow and instalments to repay – without going into any form of financial difficulty along the way.
I’ve lost my job and can’t repay my loan on time. What now?
If you find yourself in this situation, you need to contact your lender as soon as possible to let them know what has happened. However, additional interest charges may be levied until such time as you are able to repay your loan in full.
Are there disadvantages to obtaining instalment loans online?
Although still strictly industry-regulated, bad credit loans will incur higher levels of interest than that which is levied on loans obtained from regular banks or lending institutions. However, the lender you’re working with will inform you how much interest will be charged at the time of application. This will enable you to decide whether you still want to apply for a payday loan or not.
