unsecured bad credit loans fast

Short Term Loans For Bad Credit From £100 To £2,500

Bad credit loans are loans for people who may have had poor credit in the past, no credit history to show, or do not meet the traditional lending criteria. However, they still require a loan.

Payday Pixie do not carry out any credit history checks, however if we are unable to offer you additional finances we may refer you on to one of our selected partners who may want to carry out a credit history check. The reason we do not directly carry out any form of credit history check is due to the alternative information that we gather from you in our application form such as, address details, monthly salary and employment history.

It is important to remember that these lenders are ok with you having a bad credit history. Lenders are nowadays more concerned with your current situation, such as your employment status, and are therefore more likely to approve your loan based on this information rather than your previous credit history. As such, it is important to always be as accurate as possible in your application. Remember, a credit check will always be performed on you when you apply for a loan. Therefore, you should always ensure that the details you provide are correct as this will greatly improve the likelihood of your bad credit loan being approved and quicken the entire process.

For the purposes of the information you’ll find on this page, I’m defining bad credit loans as loans that are available to those with a bad or poor credit history. Your credit history is determined by the record of how you have used any credit accounts that have been made available to you. Credit accounts are accounts that show up on your credit file – so contract mobile phones, accounts for your household utility bills, any bank accounts, credit cards or loans. If you’ve never had a credit account, you’ll fall into the bad credit category too. If you’ve made three or more late payments or defaulted on a credit account, then you have what will be considered a bad credit history If a court has passed a County Court Judgment against you at any time within the past six years, you will also be considered to have a bad credit profile For anyone outside of those criteria, you’re in the wrong place. Instead, visit our good credit loans or fair credit loans pages.

Borrowers with bad credit can turn to personal loans instead of credit cards or payday loans. The personal loan may allow them to have a more manageable stream of payments, and sometimes a lower overall interest rate. The other major benefit of a personal instalment loan is that the lender should report unsecured bad credit loans fast the borrower’s payment history to credit reporting agencies. This may help the borrower build a better credit rating when payments are made on time. Loan shoppers should confirm a lender reports to credit bureaus and which credit bureaus they report to in order to ensure they enjoy this benefit.

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