What are poor credit loans?
Available in a variety of sizes, from the very small right up to thousands of pounds, loans for poor credit also feature a variety of repayment periods; enabling you to select the best plan for you and meaning you are not forced to accept unfavourable loan terms. Furthermore, to make these loans more accessible, many poor credit direct lenders are now looking at a variety of factors when considering your application for a short term loan.
In the past, lenders would focus on your credit score, poor credit direct lenders realise such scores never truly tell the full truth about your situation. As such, they will now consider other issues such as your current financial situation when considering your application. This has resulted in more people than ever before being able to borrow money with poor credit.
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Poor credit loan questions:
Q1 – Is a poor credit loan right for me?
Q2 – How much can I borrow and for how long?
Q3 – How quickly can I get a poor credit loan?
Q4 – Which is the best poor credit loan lender?
Q5 – How long does it take to improve my credit score?
Is a poor credit loan right for me?
Poor credit short term loans have risen in popularity in recent years due to more mainstream lenders only lending to people with a good or excellent credit score. In the past, if you had poor credit, it would have been extremely difficult to be approved for a short term loan. As a result, people were forced to turn elsewhere, often succumbing to the promises of untrustworthy lenders who would then charge incredibly high interest rates and suddenly unveil a whole host of hidden charges. This meant that a poor credit loan was often the very last resort for many people. Seeing this was clearly unfair, many lenders have begun offering poor credit personal loans, featuring favourable interest rates and repayment terms.
The amount of money that you will be able to borrow will be different for each person. OUr broker partner works with a range of direct lenders who specialise in providing poor credit loans and you can use an Eligibility Checker to see your likelihood of being accepted. It is likely that if you have a low salary, it will be more difficult to be accepted for a higher loan amount, so only apply for what is needed.
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Our broker partner has access to a large panel of lenders who offer instant decisions. This means that your application will not take any longer simply because you suffer from poor credit. Available online and on any mobile device, computer or tablet, our partner can help you find the best same day loans for you, 24 hours a day, 365 days a year. Offering competitive repayments and providing you with complete control over your loan, our broker partner will do everything they can to ensure you quickly get the right loan for you, on your terms.