Personal Loans for Bad Credit

Having a bad credit score doesn’t automatically make you a bad candidate for a loan. Yet some borrowers are finding that one forgotten credit card payment, or a repayment made later than agreed, has earned them a ‘poor’ rating from the credit classification agencies. In some cases, the reason you have bad credit is completely out of your control; you may be a young person who simply hasn’t yet had the ability, or life experience, to build up a good credit score. Or if you’ve been the victim of identity theft, you may have found it’s left a few black marks on your previously squeaky-clean credit score.

We are Here to Help

Sadly, the stringent rules of most big-name moneylenders mean that they are unwilling to overlook your personal circumstances and approve you for a loan. But fear not, there are options out there if you do need to secure a personal loan.

Simple Personal Loans is an easy-to-use, online personal loan finder service that offers access to one the largest panels of UK lenders, helping you find the right loan product for you, whatever your credit score.

Giving you More Choice

Even though Simple Personal Loans is a broker and not a direct lender, our service is fast, safe and, as our name suggests, really simple to use. Because we offer access to so many different lenders – and a wide variety of different products – we are confident that we can find you a loan to suit your needs, whatever your personal credit circumstances may be.

Simple Personal Loans also prides itself on offering customers a completely transparent service. All the information provided about the loans on offer will be presented in a clear, accurate and informative way, helping you make the right decision about what personal loan works best for you. If you do need any more information, a member of our team will be more than happy to put you in touch with your preferred lender to help answer any questions you may have.

Advanced online application

So how does it work? Simple Personal Loans uses an advanced online platform to access its panel of lenders, which means that the entire application process can be completed online. That means no phone calls, no paperwork and, ultimately, a no-stress process.

Using Simple Personal Loans is as speedy as using any payday loan service. We work to ensure you’ll receive the money from your lender within 24 hours of successfully submitting your bad credit personal loan application. If your application is received early enough, our lenders will strive to have your money in your bank account the same working day.

Fully Authorised

But if you do need a personal loan, but are concerned that your bad credit score may mean you won’t be accepted, We’re here to help. SimplePersonalLoans is an FCA-regulated company that’s dedicated to offering personal loans to people who may struggle to get the money they need by working with great panel of lenders and financial service providers.

We understand that many of our clients may have had financial difficulties in the past, but are now in a position where they can make loan repayments. A low or bad credit score, which is related to past events, doesn’t necessarily influence our lenders when making borrowing decisions.

Rather than concentrate on credit scoring as the main criteria for acceptance, they complete thorough affordability checks and base their lending decisions on those.

Personal Loans for Everyday Emergencies

Financial emergencies are a fact of life! Even if you’ve budgeted and have a small amount of savings, if several bills crop up together, or your car requires an urgent (and expensive) set of repairs, you can find that you just don’t have the ready cash to pay for everything.

That’s where a personal loan can help, we provide rapid access to short-term funds – just the thing to pay the garage or make sure that unexpected bills are paid on time.

No Collateral or Guarantor needed for our Personal Loans

When you apply for a personal loan with us, there’s no need to put any of your possessions (including your home) up as collateral. Our personal loans are unsecured, meaning no collateral is required.

Additionally, there’s no not necessarily a need to have a guarantor (somebody who agrees to make the loan repayments if you’re not able to). We assess the level of borrowing risk based on the information you give us, ensuring we only lend to people who meet our affordability criteria.

It’s easy to get a Personal Loan through

We’ve made our application process as fast and simple as possible – in many cases, our lenders are able to transfer funds into your bank account the same day that you apply.

To get started, use our loan calculator to work out roughly how much you can borrow (your lender will confirm the exact monthly repayments and confirm the loan APR and other details) – it gives you  information on the amount you’ll be paying back each month, so you can be clear on what you can afford.

Next, complete our short online application form. Once we’ve received that, they’ll make a rapid decision on whether to accept your application. Once you’ve accepted the loan terms and conditions, they’ll transfer the funds over to your bank account. It really is that simple!

Convenient personal loans with a fast decision-making process

We aim to offer as many people as possible access to the money they need to cover a short-term gap in their finances. We provide a professional, transparent service, ensuring you’re always clear about interest rates, the terms of the loan and the additional costs you may incur for late repayment.

Provided you feel able to keep up with the repayment schedule, we look forward to working with you to get you the personal loan money you need even if you do have bad credit.