Which Payday Loan is
best for people with
Bad Credit?
We at FinanceJar will find the plan to best suit your needs!
We Cater For All credit histories.
Personal Loans
The best unsecured loans on the market.
Payday Loans
Short term loans at their finest and easiest.
Logbook Loans
Great when you want to change your vehicle.
Guarantor Loans
A helping hand is always appreciated.
Key points
- Various types of loans are available in a hurry – even with bad credit history.
- Application is typically done online and is fast and easy.
- Same day cash can in your bank account in under an hour, even with no guarantor.
Rebuild Credit History With Direct Lender For Bad Credit Loans Installment.
Basically, most borrowers experience having poor or even bad credit remarks and this does not only stain their credit history but also, affects their future lending endeavor. Banks and traditional lenders use credit scores as the basis whether the borrower is a risk or not; whether he is capable of repaying the loan or not. Therefore, those who have unfavorable credit scores are rejected not only once but many times. Fortunately, there are bad credit loan available to those who have been declined repeatedly.
What Is A Personal Loan?
A personal loan, from the name itself, is a type of loan used for personal purposes, meaning it’s not for business or commercial matters. It can be unsecured, such as installment loans, which can be used for several reasons such as funding a travel expense or consolidating debt.
Installment Loans Vs Payday Loans
There are many kinds of personal loans and some of which as installment and payday loans. Basically, payday loans, which are often referred as short-term loans, are offered in a small amount. However, it comes with a high-interest rate that needs to be repaid usually within two weeks, or until the next payday. On the other hand, an installment loan can be repaid on a monthly basis on fixed amount.
Most people find installment loans to be more convenient since they don’t have to pay in one lump sum, instead, they can settle their loan on smaller amounts over a period of time.
Choosing Direct Lender For Bad Credit Installment Loan
Applying to a direct lender with bad credit is helpful in rebuilding your credit. This is one of the best options instead of turning to payday loans and credit cards. Through this, borrowers can take advantage of having a more manageable stream of payments. In addition, this often comes with low-interest rates, unlike with payday loans.
Another major advantage of applying for an installment loan is that the lender can report the payment history of the borrower to several credit reporting agencies. This only means that the debtor can start building a better credit score again, providing that they are able to repay on time. Meanwhile, applying for a direct lender lessens the hassle of communicating with multiple companies. Therefore, your time and effort are wisely consumed on one company alone.
Managing Your Finances
The installment loans’ repayment schedule can help you, as the borrower, to avoid falling into bad or worse credit. An installment loans’ nature is to have equal monthly payments and a precise end date to your settlement schedule, therefore, you’re not pressured to compensate for a huge sum in one payment.
Since you’ve experienced having bad credit scores, you should take control of your finances well this time and take advantage of the benefits of installment loans. Prior to applying, be sure to assess your capability of repaying first to avoid committing the same mistake. See to it that you can repay on the agreed period so that you will receive good credit remarks. Finally, manage your expenses responsibly to avoid being trapped in the cycle of debt.
Bad Credit Loan FAQs
Can I get instalment loans for bad credit from UK direct lenders?
Yes! As a licenced credit broker, we understand that even people with a poor credit history will face times when they need additional cash in a hurry – and aren’t able to obtain it through traditional lending platforms such as banks. This is why we have stepped up to offer clients like you the opportunity to apply for loans when you need them most.
Will I know how much interest is being charged on my loan?
Most definitely! When filling in the online application form and e-signing the final documentation, the interest rate being charged will be fully disclosed to you. This will allow you to make the most informed decision possible.
What types of loans can I apply for?
At present, we offer the options of personal loans, payday loans, logbook loans and guarantor loans. This enables you to apply for the loan product that is most suitable for your financial situation. Keep in mind that different types of loans may also attract different interest rates.
What must I do if I think I am going to be late with a repayment instalment?
It is crucial to ensure that all repayments are made on or before their due dates, otherwise additional interest will be added on to the original amount of your loan. If you encounter difficulties with repaying an instalment, it is essential that you contact us immediately.
Does Financejar.co.uk provide the funds in my account?
We are an approved credit broker and not the official lender, so we do not provide you with the cash directly. We pass your information to the various lenders we work with so that they can provide you with a loan that best suits your financial situation.
How do you get paid for your services? Will this cost be passed on to me?
After you have been accepted for the instalment loans for bad credit direct lenders only product you have applied for, we will take our fee from the lender – not from you. No additional charges or fees will be added to your plan either.
See How We Compare to Some of Our Competitors
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Representative Example: Amount of credit: £500 for 12 months at £58.74 per month. Total amount repayable of £704.00. Interest: £204.00. Interest rate: 53.58% pa (fixed). 68.7% APR Representative.
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Representative Example £300 loan repayable over 6 months at £94.50 per month, Rate of interest 89% fixed; Representative 976.5% APR, Total Amount Payable is £567
5 most recent personal loan reviews
Responsible, Trustworthy and Thorough Boy are they everything I've mentioned in the title. These people have a very thorough process of money lending and repayment from the start to throughout the process on repayment. I'm a guarantor and I'm always told if there are any problems with the repayment. If not, I don't hear from them. They are very professional in the approach of lending money. They will advice a budget plan is completed so you know exactly how much needs repaid. Staff are very friendly and helpful. Things are pretty straight forward with Danske.
Review posted by Justin Browne, Burnley
- Customer Service
- Flexibility
- Ease Of Use
- Value For Money
Applying for a loan from Albemarle; the process was very easy, filling a form out online and then phoning Albemarle. A very nice young lady took the call and dealt with the application in a quick and efficient manner, after supplying the relevant information, and having it checked the loan was approved and the money was in the bank within a couple of hours. All in all an excellent company, the staff were very helpful polite and very efficient.
Review posted by Barbara Valkeith, London
- Customer Service
- Flexibility
- Ease Of Use
- Value For Money
Review of 3 Month Payday Loans U
Amazingly quick, just 24 hours. They check to make sure you can really afford the repayments. My guarantor wasn't a home owner just had a good credit history. Very pleased with every aspect of the service they have provided. Would definitely recommend to anyone.
Review posted by Tracy Egerton, Rushden
- Customer Service
- Flexibility
- Ease Of Use
- Value For Money
Representative example: £400 borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% (variable)