Can I Get A Loan If I Have Bad Credit?
I need a loan but if I have bad credit who will lend to someone like me?
If this sounds familiar to you, there is some good news. loans for people with bad credit exist, and you may even be able to get one today from LoanPig.co.uk, the responsible online lender.
Just because you have bad credit it does not mean you have to settle for anything less than a responsible lender. So, to make sure you get the best loans for people with bad credit, you need to be made aware of the best loans for bad credit that are out there? LoanPig have put together all the information in this one this page
Bad Credit Loans
Here’s what you need to know about LoanPig loans for bad credit in the UK:
- LoanPig loans are available to people with good credit as well as poor credit
- LoanPig’s instant loans for bad credit do not charge you a fee – the application is 100% free.
- LoanPig is a direct lender and a broker so you get your money directly from us or one of our panel of selected members
Maybe you’ve asked yourself some of these questions;
- What is a poor credit loan?
- Loans for bad credit with no credit check, are they legal?
- Bad credit loans with no guarantor, are they available?
- online bad credit loans, what to check for?
- Loans for bad credit – direct lender or broker?
- Credit cards for bad credit, which are best?
How did I get a bad credit history?
If for some reason you’ve missed a repayment of a loan or a mobile bill (or paid it late), had a vehicle or house repossessed, had your debt passed on to a debt collection agency, or taken bankruptcy within the last six years, this all will be marked on your credit record. These will all contribute towards a lower credit score, but there are ways for you to improve your credit score.
How can I improve my credit score?
First thing to do is check your credit score, there are 3 main credit bureaus, Experian, Equifax and Callcredit. Look for any mistakes, make sure that little things like accounts you’ve closed in the past are not listed as still being open, make sure to also double check any arrears that might be listed. Then, look at what you can do to improve your credit score. Closing old accounts that might be in the red should have a positive impact so find out how much you owe and close it.
Also make sure you are on the electoral roll, if you’re not listed, this can be a negative against your overall score.
Loans for bad credit with no credit check
Do you have bad credit but need a loan? Payday loans with no credit checks from a direct lender sound appealing, but is this really the best option.
You need a loan fast, but make sure it’s the right decision.
Are no credit check loans the best choice for people with bad credit in the UK? To answer this question, we need to discuss what exactly a credit check is, and why lenders perform one.
What is a credit check?
Every person has a credit report, available from a credit bureau, which reports all reference of credit that individual has had for the last six years. When you apply for a loan, the lender will want to check whether you will pay back your loans on time, or if sometimes, you are late to repay.
Do lenders have to check my credit record?
By law, every lender will perform a credit check prior to approving any loan.
When an authorised lender advertises “loans no credit check”, they generally mean that they will check your credit report but probably disregard what they see. Does this sound like the type of company you want to trust with your personal details?
LoanPig always perform credit checks to make sure our loans will help you, we perform checks to establish also establish if taking another loan will put you in a worse position
At LoanPig, we are happy to accept applications from people with bad credit as we know that you are not your credit score; you may have had difficulties in the past, but if you have been working to improve, we will not hold that against you. Apply now for a bad credit loan with a company you can trust, a responsible lender like LoanPig.
Loans for Bad Credit No Guarantor
You need a loan but no one will be your guarantor or maybe there is no one you feel comfortable asking, either way, it looks like a no guarantor loan is the one for you. All of LoanPig’s loans for bad credit are no guarantor loans
Can I get loans for bad credit with an instant decision in the UK?
If have really bad credit, that is fine, not all lenders base their decision on your credit report. More flexible lenders, like LoanPig will give you a loan as long as you can afford to repay it and it doesn’t put you in a vulnerable position, despite a poor credit history. Just remember, Loans for bad credit in the UK can have a higher APR than loans for good credit. That’s why you might consider guarantor loans for bad credit for the cheaper option. However, you can still find lenders who provide loans for bad credit without a guarantor for a good price. At LoanPig, we offer loans for bad credit in the UK with no guarantor, instant decisions available on all our loans.
Are cash loans for bad credit easy to obtain in the UK?
Cash loans for a bad credit rating are relatively easy to find in the UK if you know where to look. For example, if you apply with a traditional lender, you’re more likely to be turned down. If they do accept you, it will only be with a high interest rate to cover the risk of lending to you. However, if you apply for cash loans with a bad credit lender, you can find lower APR loans for bad credit that are easily accessible online. At LoanPig, you can easily apply for loans online for bad credit. We don’t require a guarantor and the cash could be with you in just a few hours.
Why are bad credit loans with guaranteed approval illegal in the UK?
If a broker or a direct lender is offering you guaranteed loans for bad credit, they are not carrying out any credit or affordability checks. A direct lender or broker who promises you a guaranteed loan before you even apply is acting irresponsibly. After all, maybe you have no income at the moment and cannot afford to repay the loan. In the UK, it is illegal for any type of lender to provide credit without carrying out any credit or affordability assessments. Instead, you can apply for a loan with bad credit from LoanPig, we look beyond just your credit score.
Where will I find instalment loans for bad credit from direct lenders only?
If you are looking for a bad credit payday loan, you might not be able to afford repaying your loan in one payment. In that case, you can apply for short term loans or instalment loans for bad credit from direct lenders instead. Installment loans are repaid over a number of payments, leaving you more money each month to manage your other expenses. The best loans for bad credit in the UK are from direct lenders only. By borrowing direct without brokers involved, the process is smoother and faster to complete. UK loan companies for bad credit must clearly specify on their website whether they are a lender or a broker or in LoanPig’s case, both, giving you the best of both worlds as a short term direct loan lender and a loan broker.
LoanPig offer bad credit loans with no guarantor
We offer loans for bad credit with no guarantor because when you agreed to repay the loan on time, we believe that at the time you took out the loan, you could due to our affordability checks. If the repayment date is approaching and you realise that you won’t be able to repay, please give us a call and we’ll rearrange your payments, into a solution that will help everyone. No guarantor necessary.
Online Loans for Bad Credit
Why do you want an online loan? It is fast and convenient? Then you have come to the right place, LoanPig bad credit loans online are all three.
Our online application form is specially designed for speed, allowing you to quickly fill it out on your smartphone, tablet or computer, whichever is more convenient to you.
Quick Loans for Bad Credit
Our quick loans for bad credit can offer you funding on the same day, so you’ll get the money quickly into your account. There are no extra charges for this fast service because if you are applying for a quick loan, you need the money fast, and we aim to get that money to you as fast as possible.
Can I get Loans for bad credit near me?
You may prefer to take out a loan from a high street lender, rather than a lender online. This is understandable, as it can be quite difficult to tell the difference between a loan shark and a genuine FCA approved lender online. Make sure that any company you visit online, with a view to taking out a loan with is FCA approved.
Where is the Nearest Short Term Loan Lender?
To find a local lender, you could google “Loans for bad credit near me” and look at the results. Remember to look for reviews, so you can get an idea on how reputable they really are.
Loans for Bad Credit Direct Lender
Looking for a direct lender? Well, you’ve come to the right place! LoanPig is a direct lender, and all our bad credit loans are funded directly from our account to yours.
It’s important to understand whether your lender is a direct lender or broker and what exactly the difference is between them. More importantly, which one should you choose when looking for a loan?
A Broker versus a Direct Lender
When you’re looking for loans for bad credit, direct lenders are the ones who will end up giving you the money, if they accept your application. If you apply with a broker, they will send round your application to a panel to try and find a lender who will accept it. Many people prefer to look for loans for bad credit from direct lenders only, as they are uncomfortable with the idea of brokers passing round their personal details, but fear not, as long as you state that you wish to opt out of any company using your information, then you have no need to worry. You might however prefer to stick with one or two lenders that they’ve used before, and are comfortable with.
Using a broker to find a loan for bad credit may save you time, as you only have to fill out the application form once and it is submitted to several lenders so you’ll get the best of both worlds from a short term loan broker and a payday loan direct lender.
LoanPig offers the Best of Both Worlds
At LoanPig, you have the best of both worlds. We are a direct lender you can trust. If your application is accepted, we will send you the money directly. Although we can’t accept every application, but we want to offer you a facility so we will then act as a broker and try to find a lender who can help you.
Can I Get a Credit Card with Bad Credit UK?
Trying to find credit cards for people with bad credit in the UK? It can be tough trying to find the right one. Have you considered LoanPig bad credit loans? If you need the money urgently, it may be worth your while to borrow with LoanPig until you can get that credit card sorted, but don’t over extend, make sure you can afford it.
How can you get a bad credit credit card in the UK? Let’s find out
If I Have Bad Credit, Are No Credit Check Credit Cards for Me?
It sounds appealing to get a credit card without them knowing your bad credit history, but unfortunately, every credit card company has want to perform a credit check. So, if you have or have had bad credit, does this mean that you might not be able to get a credit card in the UK?
Bad Credit Credit Cards
There are some credit cards that are specifically designed for people with bad credit in the UK. They are there to help you rebuild your credit score, by allowing you to borrow a small amount of credit every month and repaying it on time.
This will show up on your credit report, signalling that you are paying back on time, improving your repayment habits, making it more likely for lenders to lend to you.
There are some bad credit credit cards in the UK with instant approval, but think about what you are signing up for, is it the right one for you? Or would prefer to give the company some time to check your credit history and determine whether their product will really help you? A responsible lender
Debit Cards for bad credit
There are no special bank accounts for people with bad credit, they are just called basic bank accounts. This means that if you have bad credit, you are still able open a bank account. Once your account is open, all banks will give provide you with a debit card linked to your account, but depending on which account you choose or how bad your credit is, you might not get an overdraft or a cheque book. Since you only able to use the money that you have in your account with a debit card, you will not need debit cards for bad credit specifically. Of course, if you have bad credit, your bank may not approve an overdraft facility on your account.
If I Have Bad Credit, is a Credit Card the Right Choice?
Sometimes, a credit card may not be the right option. If you only need the money right now, it makes more sense to apply for a bad credit loan, this may reduce the temptation to continue borrowing in the future if an on tap facility isn’t available. LoanPig loans for bad credit have safety features in place to help you get back on your feet, and possibly back out of debt.
LoanPig Loans for Bad Credit
If you need a loan, and you’re worried about your credit report, then LoanPig loans are best for you. Safe loans from a direct lender, no guarantor required, with same day funding at no extra charge which is everything you could possible want in a loan. At LoanPig, we care about how taking a loan out with us affects you, not your credit score. Apply today and finally receive the service you deserve.
Can I get a Loan with Poor Credit
If your credit score isn’t doing too well at the moment, you might find it hard to find a payday loan or even a short term loan. At LoanPig, we realise this and we’ll do everything we can to try and help you.
So just what is a bad credit loan? There isn’t a product called ‘bad credit loans.’ but many lenders will not offer loans for people with poor credit, so these people often search for “loans bad credit” or “short term loans for people with bad credit” to find lenders.
It’s important to realise just what is meant by the term “bad credit.” Your credit file contains all sorts of information, and maybe not all of it is as you would like it to be. If you have a history of missing repayments, lenders should be wary of lending to you, as it shows a risk for them and you when trying to pay back the loan. Depending on what type of loan you are looking for, a poor credit history may prevent you from being approved.
Can I get a loan with bad credit now?
Improving your credit will dramatically improve your chances of being approved by payday and short term lenders. However, at LoanPig we are happy to accept applications from people with bad credit because if we see that you’re making every effort to improve, we might not need to hold your past against you.
Can I get a Loan if I have a bad credit history?
When someone has bad credit, they may search for “loans for bad credit no credit checks”, thinking this will increase their chances of getting a loan, but this is far from the truth. When you apply for a loan with a responsible lender like LoanPig they will look at your credit history to ensure that you are not taking on too much debt when taking on this new loan and make sure to not make your situation worse.
Guaranteed Loans for Bad Credit
Although it sounds very reassuring to feel that when you apply for a guaranteed loan that you will definitely be approved, but for a bad credit payday loan, all short term loan lenders in the UK are required to perform adequate affordability and credit checks before they approve a loan. That means that no responsible or ethical lender will be able to guarantee to give you any short term loan. Apply for a bad credit loan from LoanPig for your good chance of getting a short term loan or payday loan from them or one of their panel of direct lenders.
Loans for people with bad credit
If you have a bad credit score it can become more difficult to find a short term loan lender who is willing to lend to you, lenders are less likely to lend to you and people are unlikely to agree to be your guarantor, but don’t worry, there are still options available
What is a guarantor loan?
Some loan facilities require you to have someone are your guarantor before the lender will agree to lend to you. A guarantor is someone who guarantees to repay the loan if you can’t or don’t for whatever reason.
As you can imagine, it can be very hard to find someone who will agree to be a guarantor for you. Therefore, people will try to find a loan that does not require a guarantor at all.