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The mainstream lenders like banks and other lending institutions are very much choosy in granting their funds. They are stingy when an application comes from a person with a bad credit score. Fortunately, alternatives are available for them, such as bad credit loans in the UK.
At Loanorganisation, we look ahead to your past credit record to judge whether you can qualify for a loan or not.
Do you have a poor credit rating and lack financial credibility? It is okay for us. We offer loans to poor credit people irrespective of low-income status or living on rent. A significant part of our lending service is that we accept government benefits as well as the criteria for loan approval.
We are here to assist you even if other traditional or private do not look at your financial needs.
Loans for bad credit are the bunch of money provided to those with low credit scores ranging from 561-720. However, the score depends upon the agency where you want to check.
There has been a trend that poor credit loans have higher interest rates for borrowers. It is especially in comparison to the standard loan options. We manage the interest rates properly and try hard to finalise them according to your financial capacity.
We offer tailor-made deals on loans with bad credit not an issue at all. Features like flexible repayments and loan terms can improve your credit score and meet your personal ends.
If your credit record has a score below 561, you can approach us anytime as we are the specialist lender of bad credit loans. If you still have confusion regarding the figures of credit scores, see the below table mentioning credit ratings of different agencies.
| Credit Scores | Experian | Equifax | Callcredit |
|---|---|---|---|
| Excellent | 961-999 | 811-1000 | 628-710 |
| Very Good | 881-960 | 671-810 | 604-627 |
| Fair | 721-880 | 531-670 | 566-603 |
| Poor/Bad | 561-720 | 439-530 | 551-565 |
| Very Poor | 560-0 | 538-0 | 550-0 |
Do you want to know which loans are accessible under the category of poor credit loans?
We have a wide range of loans available for people with less-than-perfect credit scores. However, we have classified them into two types: secured loans for bad credit and unsecured loans for bad credit.
Some loans are secured for people with the blemished credit report. It means that you will have to offer an asset to secure the loan amount. The asset can be your car or in cash deposit. Here are the features of secured loans for poor credit people:-
Another category is unsecured bad credit loans. Here, your credibility and mouth promise work for the loan approval. However, we have made your monthly income as the loan criteria, as it helps us make affordable deals that suit your income capacity. Look below the features of these unsecured loans:-
You can decide whether secured or unsecured bad credit loans can match your current financial needs. Once you decide, you can start applying for bad credit loans with the below-mentioned procedure.
Do you need a loan instantly? Applying for loans for bad credit from Loanorganisation is straightforward, and the UK people with low credit or poor credit can have approval within a single business day.
You only need to fill out a quick and single-page online loan application. Once you do this, you get approval fast. Subsequently, we deposit the desired amount directly to your active bank account. Below is the detailed bad credit loan application procedure.
Send us your loan query, and we will revert to you with one or two loan deals. You can choose any one of them and start applying.
Start filling out a single page online form mentioning all personal details. Submit it and get the approval within a few minutes.
After approving your loan application, we release the bad credit loan amount to your provided bank account. Now, you can use the money for your financial purposes.
At Loanorganisation, our approach to lending can be described in two words: Feasible and Flexible. Still, it would be better for you first to analyse your income capacity and how many funds you need
Once you decide, you can apply online by using your laptop or Smartphone. We take a quick look at your income and credit score, if available. Furthermore, we can approve loan applications with no credit check if your recent financial performance is satisfactory.
With having loan amount to your account, mark the repayment date into your calendar and start making timely loan repayments until the term ends.
A loan usually fulfils your financial desires and financial needs. Sometimes, loans make way for a secure financial future. Availing of quick loans for bad credit can open the door for you from where you can enter into financial satisfaction.
Here are the possible reasons why you need poor credit loans:-
Manage Surprised Expenses: You can plan for planned expenses but not for unexpected ones. These can be in the form of medical urgency or broker appliances. With these loans, you have quick cash in your hand to deal with such issues.
Reconstruct your Credit Score: If you can show your capacity to repay, a loan is always a better way to rebuild your credit scores. We help you with offering flexible repayment terms, and everything is on track.
Pay Educational Expenses: If you are a student, you will be keen to learn new skills. Forget your bad credit score and get funds from us to pay the fees of a new course or purchase needed stationery.
Buy a Brand New Car: Sometimes, you lack sufficient money while purchasing a new car. There must be some financial gap that you can fill these personal loans for bad credit. You can also use the amount as your down payment.
Financial Help to a Friend: It is always pleasing to help your friend when he is in deep financial struggle. It is more pleasing if you want to borrow for him despite your own credit rating is poor. Apply for our loans to help him and to improve your own record too.
Loanorganisation offers loans for bad credit with no guarantor on benefits, which are meant to you a lot. There are three utmost loan benefits for which we are most dedicated. These are:-
No Guarantor Needed
People with low credit scores often have the problem where no one agrees to become their loan guarantor. If you try hard, then it will only waste your time. No need to do this as you have the option of bad credit loans with no guarantor.
No Credit Check
These are no credit check loans. It means we do not check the credit history of the borrowers. Instead, we approve loans for them on their current financial performance. It is the reason why we are the right lending hub when it comes to bad credit loans with no credit check, no guarantor from a direct lender.
No Fees
Another advantage you have with our loans is no extra fees you need to pay. You pay only the interest rates and those will be according to your current income capacity. It means you easily expect loans for bad credit with no guarantor and no fees from a direct lender.
Often people get confused between poor credit loans and very bad credit loans from direct lenders in the UK. We make this clear to you as we are the responsible loan provider.
As mentioned above, bad credit is the upper category of very poor credit rating.
It means people have the chance of availing of loans but not for the larger amount. Lenders are very much specific in funding these people. However, if they are earning well, we can offer business loans or long term loans for bad credit.
Therefore, we offer only affordable loan deals that prove easy for each borrower.
Very bad credit loans or adverse credit loans are for those with the poorest credit record or CCJ (County Court Judgement).
These people have the slightest chances of loan approval depending upon their recent performances.
We also assist people with adverse credit but only when they have a financial emergency. In these options, borrowers’ income capacity matters a lot.
The best thing that makes us different from other bad credit loans providers in the UK is we look to your present only, not what you have done in the past.
Judging the loan application on the past record may not be wise to anyone, especially those who are performing well now. Therefore, we offer loans to sustain your financial future and to build your future as well.
If we conclude the reasons of why choosing us, then these points are enough for you.
The stage is set for you. Do not think too much. Just start to apply for loans for bad credit now.
If bad credit loans are based on your income and affordability, you have every chance of improving your credit score. However, you have to make each monthly instalment on time.
We will suggest you not do this as it may impact your credit score. If you apply at Loanorganisation, you do not need to apply anywhere as we provide everything that your finances want from a direct lender.
Yes, you can easily qualify as we have a specific loan product called bad credit loans for the unemployed. In this, we can approve your loan application on these bases:
We offer bad credit loans for the maximum duration of 5 years. If you want smaller monthly instalments, then a longer duration is fine. Otherwise, you should opt for a smaller loan period.