Simple Online Form
With our simple online form, we streamline your loan application process quick and straightforward. Complete your application online by filling out the proper details.
Bad Credit Loans are a type of Personal Loan for People who have a Low Credit Score or No Credit History, and come in various forms such as Secured Loans that require borrowers to provide collateral, Unsecured Loans that do not require collateral plus some Payday Loans or Short Term Loans meant to address immediate financial needs which charge Higher Interest rates. However, if your previous Credit Management has been Poor, you’ve had Missed Payments or you have a Poor Credit Score, it may prove challenging to get a Loan through conventional Lending. Generally, Banks and High Street Lenders will see you as a Higher Risk.
A few Online Lenders agree to give out Loans for Bad Credit at a slightly Higher Interest rate even after one has a Poor Credit History. Though these Poor Credit Loans can be crucial in offering financial support, there is a need to treat them cautiously. This is shown by the fact that their rates of Interest are mostly Higher than the traditional ones due to the Bigger Risks involved for the Lenders. It is therefore important that you read the Terms given and understand what Interest rates apply together with any Fees payable hence being sure it suits your Budget and Repayment Ability.
CashCompare helps borrowers in finding a suitable financial solution for their needs. We work with a vast panel of Lenders and other Brokers who offer online loans for bad credit in the UK. Our Loan Matching Service will try to connect you to a suitable Lender once you complete our loan application form. Thus, you do not have to search through multiple lenders or broker's websites to find the loan. We do not charge any fees to use our website or services.
We're committed to making your borrowing experience as simple and stress-free as possible.
We understand that time is of the essence, and you need your money asap! Obtain a prompt decision in no time with our user-friendly designed loan application process.
Fill in our Application Form with Complete and Valid details to find the best Prospects.
With the Provided Details, Our Loan Matching Service will start Searching for a Direct Lender.
You will be presented with a No-Obligation Quote. If you do not like it, you can close the web page.
Once Approved, Get your Loan Amount directly deposited into your Bank Account.
With our simple online form, we streamline your loan application process quick and straightforward. Complete your application online by filling out the proper details.
You can apply for a loan round-the-clock from the comfort of your home, any day, even on weekends and holidays.
Browse our loan offers with no strings attached. If you think it's not the right fit, you can close the web page - no obligations, no hassle.
Our application process is free with no hidden fees as we believe in transparency and honesty. If approved, lenders will present you with no obligation loan quote.
Determining that a bad credit score is the reason behind being declined for credit can be discouraging and stressful. To help you understand your financial health, we have sorted the list of the most common reasons for poor credit. This will provide insights into your financial situation and enable you to take informed steps towards improvement.
Here are the factors you can consider improving them.
Missing Payments: Sometimes payments slip through our minds, but even one missed payment can have vast consequences on your credit profile. So never skip your payments.
High Credit Card Balances: Maxing out your multiple credit cards can indicate to lenders that you are taking an unnecessary financial burden surpassing your credit limit.
Financial Hardships: Unforeseen circumstances can lead to financial strain so having rainy-day savings might negate the need to take any credit.
Lack of Credit History: Borrowers who have recently got their credit cards or those who are first-time borrowers of personal loans should wait for some time to build their credit profile.
Credit Report Errors: Check your credit report with the credit bureaus on a timely basis to rule out any mistakes.
Major credit bureaus like Experian, Equifax, and TransUnion play a significant role when it comes to assessing creditworthiness. Each bureau has its standard scoring model and criteria for determining credit scores.
| TransUnion | Experian | Equifax | Credit Rating |
|---|---|---|---|
| 0-550 | 0-560 | 0-279 | Very Poor |
| 551-565 | 561-720 | 280-379 | Poor |
| 566-603 | 721-880 | 380-419 | Fair |
| 604-627 | 881-960 | 420-465 | Good |
| 628-710 | 961-999 | 466-700 | Excellent |
Applying for an online loan with bad credit is straightforward. Start by visiting our website and locating our loan application form. Fill it out, providing accurate information about your financial situation, such as your income and expenditure. Don't worry, we treat all data with strict confidentiality and compliance to regulations.
Despite having bad credit, our lending partners take a broader look at your financial picture, considering factors like your current income and ability to repay, rather than solely focusing on your credit history. We understand that everyone can face financial bumps, and your credit history shouldn't be the only determinant of your financial future.
Once your application is submitted, our system will connect you with potential lenders from our trusted network who can provide online loan for poor credit. They will assess your application, and if approved, you could have the funds in your account quickly.
Remember, while online loan with bad credit can help in a financial pinch, responsible borrowing is crucial. Always borrow within your means and have a repayment plan in place.
You may be concerned if you require a guarantor to take out a loan with bad credit. Ultimately, it will depend on the specific lender you are applying to and the loan terms. However, there are options available for bad credit loan without a guarantor.
Some lenders may require a guarantor for a poor credit loan. It’s because they consider the bad credit borrowers at a higher risk, and having a guarantor provides security for the loan. A guarantor is someone who agrees to repay the loan if the borrower is unable to make repayments. Typically, a guarantor should have good credit and a stable income.
Additionally, some lenders specialize in providing no guarantor loans for bad credit. They consider factors other than credit score when evaluating loan applications for bad credit, such as employment history, income other financial obligations. The lenders use this information to determine the ability of loan repayments.
While these loans may come with higher interest rates, they can be a viable option for borrowers who cannot find a guarantor or do not want to involve someone in their financial matters. Consider the loan terms carefully before you apply, and make sure you can make the loan payments on time.
Shop around and compare the terms from different lenders to find the best loan suitable for your needs and financial situation.
If you have to borrow with bad credit, the loan amount limit depends on several factors, including the lender you agree with, income, and credit history. Many lenders are hesitant to provide loans for people with bad credit, or they may offer loans with high interest rates. These lenders may provide bad credit loans and are willing to work with borrowers with less-than-perfect credit.
When applying a loan with bad credit, it is better to determine the loan amount and what you can afford to repay. Reconsider your budget with the associated costs of the loan before applying.
Lenders will evaluate your income and expenses to determine your debt-to-income ratio. A higher debt-to-income may find it hard to qualify for a loan or result in a lower loan amount. Some lenders may also require a guarantor or collateral to secure the loan.
Typically, some lenders offer short term loans ranging the amount between £300 to £1500 with the payback terms of 3 to 12 months. Ensure you do the research and compare the terms from multiple lenders. It will help you find the best loan with the terms and repayment options that work for you.
Firstly, it's crucial to understand that there is no such thing as a guaranteed approval loan with bad credit or good credit. Getting approved for a loan can be challenging if you have bad credit and need a no guarantor loan. However, some lenders may offer bad credit loans without a guarantor at higher interest rates.
While the lenders may not require a guarantor, they may conduct credit checks and charge higher interest rates to offset the risk of default. Therefore, compare various lenders and read the terms carefully to find the best loan option suitable for your financial situation.
Before you apply for a bad credit loan, check your credit score and understand the terms, including the interest rate and any fees associated with the loan. It is also important to consider alternative options before applying for a loan with bad credit. Do proper research and choose a reputable lender who offers fair terms and conditions. If you are unable to make the loan repayments on time, you may find yourself in a cycle of debt. Consider all your options carefully, before proceeding.
Though it is possible to secure loans even with bad credit and no guarantor, the options are very limited. Typically, lenders may ask for a guarantor or some form of collateral to reduce the risk of lending for people with less-than-perfect credit. It's essential to be cautious while making informed decisions about getting no guarantor bad credit loans.
Finding a direct lender willing to offer loans to individuals with extremely bad credit can be challenging. While we aim to connect you with suitable lenders, including those who consider applications from individuals with a history of very bad credit but the loan approval is not guaranteed.
Applying for a loan through us is a straightforward process. Visit our website and complete our user-friendly loan application form. In this form, provide accurate details regarding your income, expenditure, and financial circumstances.
Once you submit your application, we will match your profile with potential direct lenders from our trusted network. These lenders will review your application, and may contact you for more information.
Remember, direct lenders, especially those willing to offer very bad credit loans would have to adhere to the FCA guidelines and may require a minimum credit score for consideration of your loan application. They may also consider a wide array of factors such as your income stability, employment history, and your ability to make repayments on time.
Though loans for people with extremely bad credit can provide financial relief, they should be considered responsibly. Only borrow what you can repay, and always make sure to have a repayment plan in place to protect your financial future.
We, as a credit broker, can assist you in several ways to find a bad credit loan as we work with a large network of lenders. Many of them specialize in providing loans to individuals with bad credit. This extensive reach can help you find lenders who are more understanding of your financial situation and more likely to approve your loan application. Thus, you do not have to go to multiple lenders and other brokers' websites to find the loan. Apply through us filling in your complete details to check if you are eligible.
No, we do not charge any such fees for using website services. We are committed and provide you with a transparent platform to help you find the best loan options. Any commission received if you choose any of the products offered by participating lenders or brokers, or if they refer you to them.
Applying for a bad credit loan through us gives you access to a large network of lenders who offer loans even with bad credit scores. Our user-friendly platform makes you find the suitable financial solution according to your loan request. You can easily access from the comfort of your home, we have streamlined the loan application process as smooth as possible. If you doesn’t qualify for the requested loan amount, our lenders may provide you the alternative solution under no obligation to accept it. If approved, you may get loan on same day and sometimes it may delay due to lender or bank policies. You can apply through us easily we do not charge any fee to use our services. While approval isn't guaranteed and is ultimately up to the lender's discretion.
If you feel that you are having difficulties managing your finances, you can find free, independent advice and support at Citizens Advice, National Debtline or at MoneyHelper.
We do not perform credit checks. To determine your loan eligibility, lenders will perform a soft credit search and present you with a no-obligation loan quote. If you accept any lender’s loan offer, then they will conduct a hard credit search.
We, as a credit broker, can assist you in several ways to find a bad credit loan as we work with a large network of lenders. Many of them specialize in providing loans to individuals with bad credit. This extensive reach can help you find lenders who are more understanding of your financial situation and more likely to approve your loan application. Thus, you do not have to go to multiple lenders and other brokers' websites to find the loan. Apply through us filling in your complete details to check if you are eligible.
No, we do not charge any such fees for using website services. We are committed and provide you with a transparent platform to help you find the best loan options. Any commission received if you choose any of the products offered by participating lenders or brokers, or if they refer you to them.
Applying for a bad credit loan through us gives you access to a large network of lenders who offer loans even with bad credit scores. Our user-friendly platform makes you find the suitable financial solution according to your loan request. You can easily access from the comfort of your home, we have streamlined the loan application process as smooth as possible. If you doesn’t qualify for the requested loan amount, our lenders may provide you the alternative solution under no obligation to accept it. If approved, you may get loan on same day and sometimes it may delay due to lender or bank policies. You can apply through us easily we do not charge any fee to use our services. While approval isn't guaranteed and is ultimately up to the lender's discretion.
If you feel that you are having difficulties managing your finances, you can find free, independent advice and support at Citizens Advice, National Debtline or at MoneyHelper.
We do not perform credit checks. To determine your loan eligibility, lenders will perform a soft credit search and present you with a no-obligation loan quote. If you accept any lender’s loan offer, then they will conduct a hard credit search.