Securing payday loans with an unappealing credit rating can be a difficult task to accomplish. Some may even believe that it’s impossible to secure “Bad Credit Payday Loans” if their credit rating isn’t attractive. Well, we can tell you, this is not the case. Some lenders do offer “Payday Loans No Credit Check” and “Payday Loans Online No Credit Check”. There are also lenders out there who are willing to do credit checks, and approve borrowers who they believe will pay back their loan, despite the unattractive credit rating.
Representative 546.1% APR (fixed). Representative example: £200 repaid over 3 monthly instalments of £134.76. Total charge for credit £404.27. Interest £204.27.
Some lenders believe that people deserve another chance to prove they can borrow responsibly. Many of our financial mistakes are made at a young and irresponsible age. These life choices continue to effect our credit rating, which has a merciless view, and does not take the bigger story into account. But that does not mean borrowers up and down the country have to take that view.
Despite the fact you’re looking for lenders who offer bad credit payday loans, our advice is to head over to Experian or Clear Score. Your main aim here, is to start to build up your credit rating. The only way to do that, is to borrow responsibly and show that you are willing to repay your debt. Taking out a loan and repaying it on time is a great way to show this. There is no better motivation for repaying your loan, than watching your credit rating rise. So go set up an account today.
Head on over to our application page. We will ask you a series of questions in regards to your personal information, income and expenditure. Our aim here, is to get a better understanding of your current situation. We work with many lenders across the country, who take into account, borrowers with bad credit ratings. Having many healthy relationships with a variety of different lenders, improves your chances of getting accepted for a bad credit payday loans.
First of all, a credit rating provides the lender with an overall score, for them to determine how reliable that borrower is. Every lender will have a set criteria which the borrower must pass. Each lender has a different criteria, so don’t lose hope if one lender rejects you.
Your credit rating could be low for a number of reasons:
1. No repayment of a loan
2. Late repayments for a loan, mobile phone contract, credit card
3. Debt passed to a debt collections agency
4. Bankruptcy
5. Repossessions
