What are Bad Credit Loans?
If you have credit problems, we can help!
What are Bad Credit Loans?
Introduction
If you have a bad credit history or even no credit history, you may find it difficult getting the money you need or deserve through the regular channels, such as banks. This is because whenever anyone lends money, there is always a risk of not being repaid.
Bad credit loans allow people with a poor credit history to borrow the money they need, although they may have to pay higher interest rates than someone who has built up a good credit rating over the years.
Who are they for?
If you have been refused the credit you need and deserve, bad credit loans can help.
If you have had problems paying your bills or debts in the past, you may now have a bad credit record or history. Some people who have recently moved to the UK will be in a similar situation and find the banks are reluctant to lend them money. The list of reasons goes on to include CCJ's county court judgments, bankruptcy, redundancy and mortgage arrears.
How can a get one?
We have a number of products for different situations, take a look at the sections below, to help you choose the best one for you current needs, and apply online.
Introduction to Bad Credit Loans
We understand that getting a loans can be difficult for some people, for whatever the reason. They may have recently arrived in the UK, have been made reduntant, or have had money problems in the past. That is why we specialise in providing bad credit loans or adverse credit loans for our customers, where they have a good chance of being accepted. We also provide fast finance for people in a hurry who can't wait for the banks to review and approve their loans. Whatever you need the money for, we can help!
Payday Loans
Payday loans are perhaps the quickest and easiest type of loan available, often without a credit check. Apply online and money can be sent to your bank account on the same day you apply. Borrow up to £750 and repay on your payday. Simple.
- Fastest and easiest type available
- Simple online application
- No credit check needed and bad credit history OK
- Borrow from £80 to £750
- Money deposited into your bank account, often on the same day you apply
- Repay on your next payday
- Immediate decisions online
- You must be over 18 and employed full time to qualify
If you have a poor credit history or just need money really quickly, payday loans are the answer.
Logbook Loans
If you own a car, you can borrow money against the value of your car.
Borrow from £20 to £50,000. Your credit history or employment status is not important as your car logbook secures your loan. Simply drop off your logbook to your loan provider, keep your car and drive off with your loan in cash.
- Simple Application
- No credit checks
- Employment status is not important
- Borrow from £20 to £50,000
- Flexible repayments from 1 day to 12 months
- Get your cash loan in as little as 30 minutes
- Lower interest rates than Payday Loans
- Hundreds of branches nationwide
Unsecured Loans
Unsecured loans or personal loans generally take a little longer to be approved, and are the best option if you don't need your money immediately. You can borrow between £750 and £8,500. Anyone can apply, even if you have a bad credit history, are in arrears on your mortgage or have a CCJ. Unsecured loans or personal loans as they are sometimes called, generally offer a better APR than payday or logbook loans and can usually be repaid over a longer period of time.
- Anyone can apply, bad credit history or CCJ's OK
- Borrow between £750 and £8,500
- Lower APR than payday or logbook loans
- Usually repay less interest on your loan
- No security needed
- Can be used for any purpose - it's up to you!
Car Credit Loans
A car credit loan or auto loan is a special type of loan, just to help you buy a car. Usually the provider will also have a stock of cars for you to choose from, and so your cash and your new car can all be sorted out at the same time.
- Anyone can apply, bad credit history or CCJ's OK
- Lower APR than payday, logbook and unsecured loans
- Usually repay less interest on your loan
- No security needed ( except your new car)
- Drive away with your new car on the day you apply
- £1000 minimum part exchange for your old car with our providers
- Cash back for you to spend
Compare Loan Types Side by Side
| Payday Loans | Logbook Loans | Unsecured Loans | |
|---|---|---|---|
| Loan Amount | £80 - £750 | £20 - £50,000 | £750 - £8,500 |
| When is the Loan Paid | Same Day* | 30 Minutes | 5 Days |
| How is it Paid | Bank Account | Cash | Cheque |
| Apply 100% Online | Yes | Advisor Callback | Advisor Callback |
| Bad Credit Accepted | Yes | Yes | Yes |
| Security Needed | None | Car Logbook | None |
| Paperwork Needed | None | Car Logbook | Yes |
| Advisor Support | Yes | Yes | Yes |
| Repay Period | 1 Month | 1 Day - 12 Months | 2 - 4 Years |
| Must be Employed | Yes | No | Yes |
* As the loan is paid into your bank account, check with your bank to make sure the funds can be cleared on the same day they are deposited.
| Car Credit Loans | |||
|---|---|---|---|
| Loan Amount | Up to value of new car | ||
| When is the Loan Paid | Same Day | ||
| How is it Paid | Exchanged for car | ||
| Apply 100% Online | No | ||
| Bad Credit Accepted | Yes | ||
| Security Needed | None | ||
| Paperwork Needed | Yes | ||
| Advisor Support | Yes | ||
| Repay Period | Variable | ||
| Must be Employed | Yes |
