Rates from 12.9% APR to 1625.5% APR.
Representative Example: £1,000 borrowed for 18 months. Repayment of 17 Months at £87.22 and final repayment of £87.70 The total amount repayable is £1570.44. Interest amounts to £570.44, an annual interest rate of 59.97%. Representative APR: 79.5% (variable)
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Why trust us?
At BadCredit.co.uk, we could help you get loan you need faster and with less effort. We quickly analyse our panel of lenders for you and present you with the best match, making the whole loan process of securing a loan easier and giving you significantly better odds of being approved.
Our group of lenders use cutting-edge technology to process applications quickly, which can lead to super fast approvals and even same-day funding from some lenders. But remember, approval speed and funding times might be different depending on the lender you’re matched with, so we can’t guarantee you’ll be funded on the same day.
We work with a wide range of lenders and brokers, and we compare them without performing a hard credit check on your file. Our panel carries out a soft search, which only you can see on your credit report. We use the information you provide to pinpoint the lowest cost lender in our network who’s likely to approve your application.
When you request a quote from BadCredit.co.uk, we use your information to connect you with a credit provider likely to accommodate your credit needs. Your data is protected using encryption on our SSL-secured website, and we neither store nor share your information with third parties, except for the lender or broker you are matched with.
Skip the phone calls and paperwork – simply fill out our form with the required details to match you with the ideal provider. Once submitted, you’ll instantly see your personalised loan and credit options tailored to your needs.
Unlike some of the larger comparison websites that are owned by product providers, who often push their own products first, BadCredit.co.uk is entirely independent and unbiased. Our dedication to impartiality ensures that we focus solely on providing you with the most suitable options for your unique financial needs, without any hidden agendas.
Frequently asked questions (FAQ)
The quickest way to find an approving lender for an emergency loan is to use a comparison website like BadCredit.co.uk. That’s because comparison websites can save you time as apposed to manually comparing a large number of lenders to find the best emergency loan provider.
BadCredit has 70+ providers site-wide and 30+ loan lenders. Our job is to match you with the most appropriate lender. Simply fill in our 2 minute form with basic information to kick-start the process.
You can use emergency loans to pay for anything you want since there’s no limitation on how you spend the money. However, here’s an idea of what you may want to get an emergency loan for:
- Car emergency repairs: Has your car broken down? Then you could get an emergency loan to pay for the repairs. It’s especially important if you need your car for everyday life, such as going to work or picking up the kids from school.
- Medical bills: It’s understandable if you want to get an emergency loan to pay for unforeseen medical bills. This could be to pay for an operation or medication to address an illness.
- Living costs: Are you having trouble paying for your living costs? You can alleviate the financial strain by getting an emergency loan. Note that an emergency loan will not alleviate the problem causing the financial hardship. Therefore, make sure you can repay the emergency loan on time.
- Home repairs: If your home needs repairs today, emergency loans could be a viable option. Use the loan to repair damage that if left unattended could potentially make things worse.
No, you cannot get an emergency loan without a credit check. However, you can get a quote with just a soft credit check, which we perform to match you with the right lender. Soft credit checks go on your credit history, but 3rd parties cannot see them.
Once you choose a lender and want to make a formal emergency loan application, the lender will perform a hard credit check. If you get rejected, your credit score may decrease. Therefore, it’s important to only apply for an emergency loan as a last resort.
The amount you can borrow with an emergency loan depends on various factors, including your credit score. As a rule of thumb, you can borrow more, the better your credit score, if you have a guarantor or assign assets as collateral.
Every emergency loan lender has different terms and conditions, including how much money they are willing to lend. Therefore, it’s wise to compare lenders to increase the chances of borrowing your ideal amount. Here at BadCredit.co.uk, we have 70+ providers site-wide and 30+ loan lenders.
Yes, you can get an emergency loan if you have bad credit, but there’s no guarantee of getting approved. Lenders will look at your credit score to determine the risk and possibly provide you with a deal. However, expect emergency loans with bad credit to have higher interest rates.
You could increase your chances of getting an emergency loan with bad credit if you have a guarantor. This is typically a friend or family member with a good credit rating. They will be liable for the emergency loan repayment if you cannot make them.
It’s important to increase your chances of a successful emergency loan application because if you get rejected, your credit score could decrease. This makes it harder to receive a loan in the future.
You would need to pay back an emergency loan based on the loan agreement repayment terms. This might be a few months or years. You could end up paying more interest when choosing a longer repayment period. However, the monthly repayment amounts are lower.
Therefore, those with limited funds could benefit from smaller monthly payments. It will increase the chances of making repayments on time, and that could have a positive impact on your credit rating.
Finally, you can choose to repay an emergency loan earlier than the agreed-upon date. Depending on the lender, this might incur an extra charge. However, the charge is usually lower than the interest you would have paid.
You can increase the limit on an emergency loan by considering the following:
- Guarantor: Add a guarantor with a good credit history, and you might increase your limit for the emergency loan. That’s because the lender will feel the loan is less risky because the guarantor could repay the money.
- Secured: Making the emergency loan secured means that you’ll add assets as collateral, which could be real estate or a car. In the event you’re unable to repay the emergency loan, the lender can take the collateral assets.
- Improve credit rating: Before applying for the emergency loan, you could qualify for a higher amount if you improve your credit rating.
- Compare lenders: Different lenders offer various loan maximum amounts. Therefore, you should shop around and compare multiple emergency loan lenders to find a deal matching your requirements. Using comparison websites like BadCredit.co.uk, will save you time because we have a large list of lenders.
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