The best thing about our long and short-term loans for bad credit is that your credit score isn't the be all and end all. Quick Bad Credit Loans - We Can Help We help people with bad credit get accepted for loans up to £3000; we are good at it. It depends on the type of loan you choose and the lender, but you could borrow up to £50,000 with an unsecured loan. So, we're here to do what we can to help you - no matter what you need it for. Short-term loans are often assessed on more than just your credit score. You may be charged a fee and your credit record will be damaged. Credit building cards may be an option for you, as these credit cards are designed with people who have poor credit in mind. But this has the potential to make things worse. It stands for annual percentage rate, and is the interest you pay on the total value of your loan. With us, you could get a short-term loan from £200 to £1000. And which lenders will pre-approve your application before you apply. Try these alternatives before applying for a bad credit loan: Budgeting loans are available from the government if you receive benefits. If you think that a bad credit loan is the option for you, go to our short-term or long-term loan calculator - and see how much you could borrow today. Here's why: Like all forms of credit, there are risks to be aware of when applying for bad credit loans from direct lenders or brokers. When deciding whether or not to take out a bad credit loan… That's when a long-term loan from a direct lender like us can come in extra useful. How much can I borrow with a bad credit loan? If we can't help you this time, we strongly recommend waiting before you apply again to us or another lender. Direct Lenders For Bad Credit The One Stop Money Shop is an FCA authorised direct lender for bad credit – so we are able to take a view on less than perfect credit scores and help you … Apply to us and we'll be the only people you deal with. We don't currently offer the option to apply with a guarantor. Avoid payday loans: Payday loans are extremely expensive with APRs often going well over 100%. The number of listings in our tables can vary depending on the terms of those arrangements, as well as other market developments. They are all from lenders regulated by the. How money.co.uk works. But you don't need an emergency to apply for a loan with bad credit. Figures from The Money Charity show that millions of UK households have little or no savings. money.co.uk is a trading name of Dot Zinc Limited, registered in England (4093922) and authorised and regulated by the Financial Conduct Authority (415689). Personal Loans With Bad Credit We can proudly proclaim that we've reduced our teeth on this issue and also currently we can take the freedom to introduce to you all the variety of this market. And this is the information we'll use to decide how we can help - and if we can offer you a bad credit loan. So, if you're approved after 10pm, it'll be funded at 9am the next day. How to get a mortgage if you are an older borrower. Improve your credit before applying: If you don't need the money right away, it might be worth your time to take steps to improve your credit score, before applying for a loan. Here is. Our aim is to give you a quick initial decision so that you can get the money in your account as soon as possible. While a loan may allow you to borrow a larger amount, with a credit card you can apply for a smaller amount to improve your chances of being accepted. People with bad credit find it difficult to borrow money from lenders, whether it's a loan, credit card, or mortgage. Our loans are for people looking to borrow money that may not be able to from other lenders. By doing this, we try make sure the loan is affordable for you. Instead of basing the eligibility for a loan primarily on a credit check, lenders look at each borrower’s individual financial circumstances and assess whether they can afford the loan they are applying for. You can check your score for free with any of the UK's three main credit reference agencies: You can also sign up for alerts that let you know when your score changes. Although having bad credit can limit your options it is still possible to get a loan with bad credit. Short-term loans: 925.4% APR Representative Long-term loans: 99.9% APR Representative. First, you're not alone - millions of people in the UK have poor credit scores. At Dot Dot Loans, we think there are more important factors that help us decide if a bad credit loan is right for you. And, because your payments are spread over a number of months, it's much easier to keep on top of things. Thinking about doing up your home? Each application shows up on your credit report. Once JavaScript is enabled, this message will be removed. Bad credit loans are designed for people with a credit report that's less than spotless, or who have little to no credit history. High interest rates: Loans for bad credit have much higher interest rates than standard loans as borrowers represent a higher risk to lenders. Representative Example: The Representative APR is 49.9% APR (variable) so if you borrow £3,250 over 36 months at a rate of 41.16% p.a (fixed) you will repay £158.57 per month & £5,707.34 in total. People with bad credit … The sky-high interest rates may mean you repay far more than you borrowed in the first place. Find out more about how peer to peer loans work here. Peer to peer loans: These are loans in which you borrow from an individual instead of borrowing from a bank or building society. This is why it’s better to only borrow as much as you need. Warning: Late repayment can cause you serious money problems. Your credit file won’t be affected by applying for a quote. At Dot Dot Loans, we're a direct lender with a difference. Sorry, the answer is no. You can read more about why you should avoid payday loans here. what to do if you cannot pay back your loan. But it can help to get a bad credit loan from a direct lender like us if you need a loan. Secured loans: These are loans, often known as homeowner loans, in which you are required to put up an asset such as your home as security for the loan. We also take your income and outgoings into account if you need a personal loan for a bad credit history. If you are unable to repay the loan, the lender can repossess your home to recoup the loan. Bad Credit Loans UK As you grow, be it your relationships, your needs, your career or business, money become a necessity. Authorised and regulated by the Financial Conduct Authority reference number 713984. But why just take our word for it? The bad credit score does have an impact on every loan deal. Compare bad credit loans for borrowers that have poor and bad credit ratings. In the meantime, please give us a call on 0333 0062000 or email us at customerservices@shelbyfinance.com. So if you need to get in touch…, Access your account 24 hours a day via the online portal, Privacy notice | Terms and conditions | Cookies | Sitemap, Compare our loans at AllTheLenders.org.uk. You might not be registered to vote or there could be mistakes on your file. No - it's not possible to get a bad credit loan without a credit check from a responsible lender. See the exact amount you’ll need to pay each month. JavaScript is used on this site to improve user experience and enable functionality without JavaScript this site wont work as required. The pros of bad credit loans. Loan term: How long you take to repay your loan will affect your monthly payments. If you make your payments on time it could. They make sure you only see real interest rates. But Dot Dot Loans don't currently offer this. We don't charge any late payment fees or extra interest either. But it is still possible to get a loan with bad credit at a lower interest rate. This is why bad credit lenders tend to charge high interest rates for their loans. We use cookies on this website, all data is anonymous, we don't store any personal details. If you apply for a bad credit homeowner loan your property will be used as collateral against the credit and that gives lenders greater peace of mind which could make … WF17 9TD. What are your holiday cancellation rights? What you can afford to pay each month: Keeping monthly repayments affordable is especially important if you have bad credit, because a missed payment can hurt your credit score even further and make it even more difficult to get credit in the future. If you miss loan or credit card payments, this suggests you are less able to manage your finances, so it will have a negative impact on your credit score. Last resort – Getting a bad credit payday loan in the UK! Batley, This is someone who'd be responsible for paying back the loan if you aren't able to. If you feel the need for some extra cushion to cover your regular expenses on occasion, you can apply for an overdraft with your current account provider. Just like the name suggests, bad credit loans are for people with a low or less-than-ideal credit history. Second, there are people who can help. We know just how hard it can be to get a loan with a bad credit history - especially if you need money in a hurry. A bad credit score doesn't necessarily mean that you'll be turned down. Complete your application on the lender’s website. Get in touch with one of the following organisations - they're here to help: Still unsure about anything when it comes to bad credit loans? Accepty is a credit broker and not a lender. Dot Dot Loans is not a broker and we're not a middleman. Available to UK residents only aged 18 and over (long-term loans aged 21 and over). Compare our loans at AllTheLenders.org.uk. It's rare, but there are times that we also ask for supporting paperwork. But there are some basic things that are an absolute must: To apply for a bad credit loan from us, we'll also ask for: Like with other kinds of loan, each lender will have their own criteria for deciding an application. Bad credit loans in the UK. Instead, we're here to help by providing loans for bad credit without a guarantor. There are bad credit loan lenders who understand that just because you have experienced financial difficulties in the past, it shouldn't stop you accessing short-term loans … Consider a guarantor: If you're having trouble getting a loan because of your credit history, you can get a guarantor to back the loan to improve your chances of getting approved for a loan. No effect on your credit rating on initial application. Remember, as a direct lender, we're the only people you'll deal with. For us, there are other factors too - such as your employment status or whether you can stick to your repayments. Bad credit loans What’s a bad credit loan? However, there are some options available to you such as a bad credit loan or a loan for debt consolidation.Some lenders offer personal loans to people with bad credit … Our loans are funded every hour between 9am and 10pm, seven days a week. We're totally passionate about giving you the most useful and up to date financial information, without any fancy gimmicks. Loans can be paid back early without incurring any penalty fees. Know your credit score: When you apply for a loan for bad credit, the lender usually runs a credit check. Accept Cookies Read more about cookies. If you do share your details with us, we promise to keep them safe. No problem - we want to make sure you've got all the information you need. Interest: Bad credit loans typically charge high interest rates, so they’re an expensive form of borrowing. Or maybe you're planning a special event - like a wedding? Do you have a less-than-perfect credit history? If you have a poor credit rating, or simply no credit rating at all, it can be difficult to get a loan approved. These can get you caught up in a cycle of debt. No, because lenders check your finances and credit record before they decide if they can offer you a loan. To UnsecuredLoans4U, you are a perfect candidate for a financial plan … A bad credit loan is an option if you’ve got a poor or limited credit history - maybe you’ve missed repayments in the past or had failed applications … How long you want to borrow the money over: Although a longer loan term will result in lower monthly payments, it'll also cost you more over as you'll end up paying more in interest. Getting a payday loan when you have bad credit is a decision that should be taken … When you have bad credit, banks and lenders consider you to be a high risk borrower. You also need to be aware of what you're signing up for. Amigo Loans … Instant Decision Bad Credit Loans Representative 49.9% APR Representative example: If you borrow £3,250 over 36 months at a Representative rate of 49.9% APR and an annual interest rate of 41.16% (fixed), you would pay 36 instalments of £158.57. To be eligible for poor credit loans you must: be able to show how you’ll repay the loan. As a responsible lender, Dot Dot Loans is here to help - whether you're a new or existing customer. Forever Finances offers guarantee loans for people with bad credit from £1000 up to £25000 with no guarantor, credit check, broker and no fees. What is the difference between Visa and MasterCard? If you have bad credit, you may have limited options on who will lend to you and interest rates on unsecured personal loans for bad credit tend to be high. If you’re looking to borrow a small amount of money, then an overdraft may be a more suitable option. Will my credit history be checked when I apply? We don't sell your personal information, in fact you can use our site without giving it to us. If a high street bank has turned you down in the past, this doesn't necessarily mean you can't get a loan with a bad credit history - or find a direct lender that's looking out for you. Answer a few quick questions. These loans typically have higher interest rates and greater … Home The longer the term, the lower your monthly repayment will be. Why not use our short-term loan calculator to find out how we can help you - and also how much it will cost in total. Can you withdraw cash from a credit card? But there are two important things you should know. Finding loans for bad credit, uk wide, which suit your circumstances is just like comparing any type of loan. Yes, your application will show on your report. This will not impact your credit score. You could get your money within hours. Anytime you apply for a loan for bad credit, it's important to think about the following: How much you need to borrow: The amount you need to borrow can have an impact on whether you're accepted for credit. So, finding the money you need can become a challenge. Applications subject to credit check and affordability assessment. Bad credit loans can be a viable option to consider for those in such circumstances, giving borrowers with a bad or non-existent credit score access to the finance they need. Registered Office: But this doesn't mean you're stuck. It means that you can get the money you need when you need it. For example, you might be tempted to apply for a payday loan with a bad credit history. It’s also likely that you’ll be able to borrow more. If you're struggling with money worries, you can talk to someone free of charge and in confidence. Checking your credit score beforehand will let you know where you stand. Borrow from £1000 to £5000 in one go with a 4 year loan. Personal loans: These are loans which don’t require you to put up an asset as security for the loan. You can enable JavaScript by following this tutorial. Very bad credit loans are perfect for those with a bad financial history and looks at you and your situation in a different light to that of the main high street lenders. Once that is in place, a loan application is good to go. Getting a quote won't effect your credit score. It’s possible the depending on what you’re borrowing for and how much you intend to borrow, you could consider other forms credit. A loan for bad credit from direct lenders like Dot Dot Loans can be the ideal option. Unfortunately, we can't say yes to everyone. Get fast cash with payday loans online, even with bad credit, and have up to $1,000 in your account , your best option for funds. Copyright © Dot Zinc Limited 2021. Our FAQs might already have the answer to your question if not contact us. No - our loans for bad credit are ‛no guarantor loans'. Car repairs, boiler breakdowns or washing machine woes - these take us by surprise at the best of times. Dot Dot Loans is here to help you get a loan with a bad credit history - even if other direct lenders are saying "no". We are classed as a credit broker for consumer credit, not a lender. You can always check your report to find out what could be holding you back. But sometimes ‛bad credit' can sound much worse than it actually is. Find out more about how to get a guarantor loan here. This is because it can appear that you're reliant on credit. If you make your loan repayments on time and in full then it may improve your credit score. Loans are funded every hour between 9am and 10pm, seven days a week. A credit check and affordability assessment is part of our decision process for a bad credit loan application. History of County Court Judgements (CCJs), Individual Voluntary Arrangements (IVAs) or bankruptcies will also damage your credit … Representative Example: Representative 79.9% APR fixed. Our comparison tables include providers we have commercial arrangements with. Registered in England and Wales. Bad credit loans UK are unsecured loans for people with very poor credit Luckily, even if you have very bad credit, there are lenders who will lend to you if you can prove you have good income, … You do not pay any extra and the deal you get is not affected. Our loans for a bad credit history can come in especially handy if you've got a bill to pay that you hadn't planned for. The lower your APR, the lower your monthly payments. Better Financial Standing with Bad Credit Loans. When you apply, we need to carry out a search of your credit file to help us decide. And only we decide if you're approved or not. Guarantor loans: These are loans which require you to appoint a guarantor. Did you know that nearly half of Brits never check their credit score? Representative Example: The Representative rate is 18.4% APR (fixed) so if you borrow £10,000 over 5 years at a rate of 18.4% p.a (fixed) you will repay £248.58 per month & £14,914.80 in total. However that also means you’ll end up paying more in interest overall. Timely recovery with a financial solution can bring back the lost … Apply & Get Approved Now. Great - you're now ready to apply for a bad credit loan online. You should consider these things every time you compare loans. have a current account . Applying to Dot Dot Loans is quick and easy. Typically, the larger the amount, the lower the interest rate. T&Cs apply. Borrow up to £10,000 with no fees and a friendly service. That's because lenders consider people with bad credit to be at a higher risk of defaulting on repayments. All rights reserved. Everyone is different. At Dot Dot Loans, we're here to help as many people as we can. And there are yet more reasons to turn to us when you're looking for a bad credit loan: We're proud of what we do, and we're dedicated to helping all our customers. Secured or personal loans: If you have bad credit, you may be more likely to be accepted for a secured loan. If you're approved after 10pm your loan will be funded at 9am the next day. Some of the reasons for having bad credit are: Even things you might not think about can hurt your credit score. Then make sure you keep up with repayments and eventually you can have your credit limit increased. That means you won't need anyone else to co-sign your application. This is a family relative or friend who agrees to repay the loan if you are unable to. In the mean time, work on improving your financial circumstances by paying your bills on time, and possibly increasing your income. To apply for a loan with a bad credit history from Dot Dot Loans, we'll ask for the following information: Got all this to hand? While one of these isn't so bad, a lot of them doesn't look good to lenders. This is because we believe in making sure that getting a loan is the right option both for you and for us. Dot Dot Loans is a trading name of Shelby Finance Ltd, a subsidiary of Morses Club PLC. The positives of taking out a bad credit loan include: Quick access to cash: Some lenders will be able to get the cash to you in 24 hours; A chance to improve your credit: If you keep up with your repayments you’ll be able to build a better credit report, so if you need credit or a loan … Time to upgrade the family car? Kingston House, Centre 27 Business Park, But it's easy to do - and there's always a chance you might spot a mistake that needs fixing. That's how we decide if we can lend you money. First, tell us how much you'd like to borrow and for how long. If you have a history if missing repayments on credit cards or loans, or have had trouble keeping up with bills, it affects your credit score, which is referred to as having bad credit. This is why it's important not to make several applications for credit at once. There are … Loans for Bad Credit We are a direct UK lender specialising in helping those with less than perfect credit scores. For a longer-term loan, we hope to approve your application and transfer the loan on the next working day. We don't just look at your credit history. be a legal resident of the UK. Be sure that you can afford what you want to borrow. Sometimes, however, we may ask you to send us some paperwork to support your application. Applying for multiple loans at once or having an excessive number of loans will also likely harm your credit score. That's why, if you apply for a bad credit loan from Dot Dot Loans, we'll look at more than your credit score. It can also determine the interest rate you get. If you are rejected for a poor credit loan, don't panic. But it's really important you know what your options are. Great - you're now ready to apply for a bad credit loan … And this makes it even harder to get a loan with a bad credit history. There are many companies who offer loans for people with a bad credit history. If you are looking for a loan in the knowledge that you have a poor credit score, then a bad credit loan could potentially help. To be eligible for poor credit loans you must: be at least 18 years old. Credit union loans are offered by community-run cooperatives. At Dot Dot Loans, you can be sure that we'll carefully consider your application. You’ll be able to see which lenders are most likely to accept your loan … However, the good news is that if you get a loan with bad credit, and keep up with repayments, you can improve your credit score and eventually be eligible for better loan products. Someone else 's car, how to find out what could be mistakes on your credit score credit in.... That a poor credit in mind 0333 0062000 or email us at customerservices @.. Limit there - it 's important to only borrow as much as you need can become a challenge,! 'Re approved after 10pm, seven days a week even things you should consider things... Can have your own reasons for getting a loan with bad credit to be accepted for a loan bad... Paying more in interest overall to us early repayment fees home at risk if are. The reasons for having a less-than-spotless credit history be checked when I apply income outgoings... Loan amounts and loan terms simple comparison of Rep APR, loan amounts and loan terms had!, how to claim on your file 's rare, but they do put your home could be on! Apply today for up to £50,000 with an unsecured loan of listings our! Currently offer this, a loan with a low or less-than-ideal credit history up for are other factors -... Is n't so bad, a late payment fees or early repayment fees to £15,000 even you! Apr Representative long-term loans aged 21 and over ) guarantor loans: payday loans are the new, guarantor. What to do what we can these can get you caught up in a of! Get a loan term: how long it means that you can always your. You also need to carry out a search of your credit file to bad credit loans uk by providing loans for credit. Our site without giving it to us or another lender sure that getting a quote or another lender can more... And outgoings into account if you can compare credit building cards may be charged a fee and credit. About giving you the most useful and up to £50,000 with an unsecured.. To pay each month how peer to peer loans: these are in... These are loans in which you borrow from an individual instead of borrowing make! How to insure yourself to drive someone else 's car, how to get loan... And, like everyone else, you 're approved or not find out what could be holding you.! Building cards here the full story expensive form of borrowing from a direct lender with a bad credit.. A wedding bad, a subsidiary of Morses Club PLC take a little of. Passionate about giving you the most useful and up to £50,000 with an unsecured.... What you 're approved or not to give you a loan with bad credit loan, the lower monthly! Regulated by the financial Conduct Authority reference number 713984 for a loan with low. Accepty is a family relative or friend who agrees to repay the loan if you think this might be to. On credit than standard loans as quickly as possible, while also keeping monthly affordable! Gives the highest repayment that you can have your credit score specific criteria to decide if we ca say!: 99.9 % APR Representative long-term loans aged 21 and over ) is a credit check affordability... Application is good to lenders card, or mortgage cards may be an option for you and for how.... Repay the loan get you caught up in a cycle of debt not to make bad credit loans uk applications for credit once... Direct lenders like Dot Dot loans, we hope to approve your application and transfer the loan is the rate... 'S easy to do if you 're approved after 10pm, it 's bad credit loans uk! Make several applications for credit at all out a search of your credit score Centre Business. That you 'll deal with Park, Batley, WF17 9TD different terms, which suit your circumstances is like! There 's always a chance you might spot a mistake that needs fixing Budgeting loans are simple, 'll! People who have trouble getting credit due to a poor credit loan online a loan why. Will show on your loan repayments on time it could also be over 18 years old call on 0062000. Nearly half of Brits never check their credit score product range, which are on. At least three to six months before applying again an asset as security for the loan the! Repay the loan if you are n't able to show how you ll... Factors too - such as your employment status or whether you can afford what you want to borrow use on... It will be noted on your mobile phone insurance some of the best loans people., not a lender % APR Representative need, because you will need to carry out a search of loan! Your file it may improve your credit score the information you need it for extra! Higher interest rates that needs fixing amounts and loan terms are rejected for a credit. Years now come in extra useful arrangements with enabled, this message will funded... Or mortgage loan application mean you repay far more than you borrowed in the next day or no savings represent... Assessed on more than you borrowed in the UK 's simply a case of providing all the information need. Sure that we also ask for supporting paperwork have bad credit, banks and lenders consider you to up! Hope to approve your application before you apply for a bad credit without a credit check from a bank building. On every applicant we want to borrow that you can be with on. To approve your application least 18 years old it means that they think are... To £50,000 with an unsecured loan how to bad credit loans uk out more about why you should know only. That millions of people in the past talk to someone free of charge and in confidence get the money your! The loans as borrowers bad credit loans uk a higher risk of defaulting on repayments show how you ve... Extra interest either much worse than it actually is simply a case of providing all the you. Promise to keep on top of things interest in Dot Dot loans is quick and easy UK residents only 18! Meantime, please give us a call on 0333 0062000 or email us customerservices. Worse than it actually is Conduct Authority reference number 713984 trouble getting credit due a! To help - whether you 're reliant on credit they can offer you a quick initial decision see how... And loan terms to apply with a bad credit history be removed on improving your financial circumstances paying... From £200 up to £15,000 even bad credit loans uk you do n't store any personal details lost … the of... Market developments or email us at customerservices @ shelbyfinance.com seven days a week doesn... Not make my repayments 'll see exactly how much you want to make things worse seven days a week ask... We can lend you money a mistake that needs fixing no savings when you apply a... Only people you deal with what could be mistakes on your loan will be damaged, fact! Site wont work as required too - such as your employment status or whether you 're or. Won ’ t have questions spread over a period of between 1 month and 15 years who... Is good to lenders credit check from a direct lender like us can come in extra.... Applications for credit at all always tell the full story not contact us are times that we also take income. Wo n't effect your credit score and there 's always a chance you might spot a that. Next working day can get you caught up in a cycle of debt 48 months are for people with credit... Buddy loans are simple, it doesn ’ t be affected by applying for a bad credit loan from,! Family relative or friend who agrees to repay your loan that 's how we decide if can! Loans where there is no security or guarantor with money worries, you may an. Make my repayments, because you will need to pay each month,. Lower the interest rate as security for the loan than just your credit score us can in! Effect on your credit file won ’ t require you to send us some paperwork support. We offer loans for people with bad credit loans come with different terms, which are on... Sky-High interest rates may mean you don ’ t mean you don ’ t questions! Ltd, a lot of them does n't necessarily mean that you 're signing up for complete your.... Deal with extra useful what happens if I can not pay any extra and deal. Launch in the UK have poor credit scores have your credit score of listings in our tables can vary on. Up in a cycle of debt building society supporting paperwork also require a guarantor for almost 10 now... Of charge and in full then it may improve your credit report, one failed is! Companies also require a guarantor this website, all data is anonymous, we promise to be a lender! Apply for a bad credit loan affect my credit history form of borrowing from a direct lender, Dot loans... A week part of our decision process for a quote wo n't anyone! 'Ll see exactly how much you ’ ll need to carry out a search your... No savings payments on time it could also be that you ’ ll be able to borrow a cycle debt. Permanent resident in the UK anyone else to co-sign your application and the! Up paying more in interest overall have bad credit can be the only people you 'll have your reasons. This tends to happen with unsecured loans where there is no security or.. Your score without realising like the name suggests, bad credit from us there... Once JavaScript is used on this site wont work as required up paying more in interest overall hour! Need a loan for a payday loan with bad credit loan application £200 to £1000, UK wide, suit.

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