Bad Credit Loans FAQs
• What is a Bad Credit Loan?
• Bad Credit Loan Pros and Cons
• Bad Credit Loans FAQs
What can I use a bad credit loan for?
How do I make sure I get a good interest rate?
What will my repayments be?
How much can I borrow?
What information do I need to provide?
How long does it take to get my bad credit loan?
Can I repay my bad credit loan early?
Can I top up my loan?
What if I'm ill or if I'm made redundant?
How do I apply for a bad credit loan?
What can I use a bad credit loan for?
Most people use Bad Credit Loans for short term use until to get them through until their next payday.
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How do I make sure I get a good interest rate?
Use the internet and shop around as many different providers as possible, remembering to check and terms and conditions and/or small print.
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What will my repayments be?
This depends on how much you borrow and over what period of time but expect them to be extremely high.
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How much can I borrow?
This depends on your circumstances, i.e. salary and credit history. If you have an extremely low credit score, i.e. below 490, you may be asked to pay for a percentage of the loan upfront.
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What information do I need to provide?
As with any loan, you will need to provide all your personal and financial information, although the criteria for a Bad Credit Loan is generally lower than a normal Secured or Unsecured loan.
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How long does it take to get my bad credit loan?
Some lenders can have your money to you in as little as 24 hours.
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Can I repay my bad credit loan early?
Check your contract before taking out a Bad Credit Loan to make sure you can repay
it early without incurring penalties if you come into some money.
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Can I top up my loan?
A lender will usually let you top up your loan providing you have kept up with the specified repayments.
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What if I'm ill or if I'm made redundant?
Ask your broker about Payment Protection Insurance or PPI. This will cover you incase of a sudden change in circumstances.
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How do I apply for an bad credit loan?
You can apply for a bad credit loan with The UK Debt Advisor. Call us free on 0800 043 2027 or use our free call back service.
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