Borrow from £100 to £25,000
- Apply For £ 50 - £ 1,000
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- Bad Credit
Whole of Market panel
Trusted panel of lenders
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: Cash price £7,500. Deposit £0.00. Total amount of credit £7,500.00.
60 monthly repayments of £137.22 Total charge for credit £733.20. Total amount payable £8,233.20. Interest rate 3.8% fixed. 3.8%APR Representative.
We are a Credit Broker and not a Lender
Payday Loans Can Turn Your Credit Woes Around
People with bad credit have been turning to payday loans for help for some years now. Payday lenders don’t pay much attention to credit problems, focusing more on how much their loan applicants make rather than what their credit score is.
If you have suffered financially because of your bad credit, you don’t have to get depressed about your chances of being approved for a loan. There are lenders who are willing to approve your loan applications in an instant; you just have to apply at the right places. Your bank isn’t going to be much help when your credit is poor. They base a lot of their lending decisions on your credit, but other lenders, outside of the banks, will be happy to put you forward for guaranteed direct loans.
How Payday Loans Work
A payday loan is quite different from a bank loan. With bad credit payday loans with guaranteed approval from direct lenders, you are almost certain to be approved for the loan. Your credit rating isn’t even a factor, in most cases. The lender will be looking at your income and seeing if you make enough money to be able to pay back the loan on time.
Every lender is looking to assess your risk before they let you borrow money from them. Your risk level tells them how likely you are to repay the loan or to make payments on time. Usually, your credit rating is a good assessment of your risk. It shows what kind of borrower you have been in the past and how well you repaid your debts as agreed.
However, payday lenders realise that many of their clients are coming to them after their own bank turned them down due to their bad credit and the easy application process. They provide an alternative to banks by basing your risk assessment on your income. If you have ample income to pay your bills and still have money left over to make loan payments, then you are considered low risk to them. The more money you have left over after you meet all your financial obligations, the less of a risk you are to them.
How much money you bring in also determines how much the loan will be for. If you only have a little bit of money left over after you pay your bills, then it may take you a while to pay back a large loan. You will likely only be approved for a small loan then.
You Can Be Approved
Bad credit payday lenders with guaranteed approval by direct lenders are a good opportunity for you to get the money you need. You can be approved with little problem and not have to worry about what your credit score says about you. Only a few rare payday lenders will even look at your credit score they might though be the cheaper ones. Even then, they aren’t likely to turn you away simply because of your credit. They may use your credit to determine how much you will pay in interest, but they are still interested in lending to you.
Payday lenders want your business, and if you can find bad credit payday loans with guaranteed approval from direct lenders, then you should have no problem getting a loan from them. There are a number of them to choose from, so be sure you shop around for rates to get the best one.
What if I can’t keep up my loan repayments?
If you can’t keep up with your loan 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 credit file this could make obtaining credit 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.