What Is a Very Bad Credit Loan Direct Lender?
If you have an inferior credit profile, getting a loan seems impossible. However, fortunately, there are several very bad credit loans from direct lenders in the UK to date. These lenders understand that everyone deserves a chance to get financial help despite their unsatisfactory credit score.
These very bad credit loans from direct lenders of UK-based financial institutions are highly in demand these days. The entire market of payday loans has recorded a substantial increase in applications across the UK. The market continues to increase and shows no signs of slowing down.
Moreover, when you borrow from a bad credit loan direct lender, you won't have to pay liaison fees anymore since the institution processes everything on your behalf without a middleman.
Who Is a Direct Lender?
Direct lenders for bad credit allow customers to apply for a loan with a financial institution. Unlike other types of lenders, a direct lender helps you acquire a financial loan and get your money directly without having to work with a loan broker.
Getting in touch with a trusted payday loan UK direct lender is a huge advantage for a couple of reasons. First, these lenders consider approving loan applications from customers with very poor credit scores. Second, they do not impose expensive processing fees, unlike traditional loan brokers.
What Is a Credit Score?
Your credit score essentially reflects your creditworthiness. Customers' credit scores serve as financial institutions' basis of whether they are able to afford the loan repayments or not. Moreover, your credit score is also a measurement of how trustworthy you are in fulfilling your financial obligations. The higher your credit score is, the better your chances of getting your loan application approved.
However, customers with a poor credit score can only hope to get payday loans bad credit direct lender offers. Luckily, if you are in dire need of financial help, the bad credit loans direct lender institutions offer to date have high approval rates.
What Counts As Bad Credit?
Finding a financial institution that will approve your loan application can be extremely difficult when you have a poor credit score. For this reason, the payday loans for bad credit direct lenders institutions offer are a great help.
Large lending agencies and banks use various systems for assessing. However, most of them consider their client's credit scores.
Here are the three main credit score evaluation metrics used in the UK:
- Experian: 560 and below is Very Poor, 961 and above is Excellent.
- Equifax: 278 and below is Very Poor, 467 and above is Excellent.
- Callcredit: 550 and below is Very Poor, 628 and above is Excellent.
How to Find Poor Credit Loans Direct Lenders in the UK?
You can find payday loan lenders for bad credit on the Internet or offline. You will find a vast array of businesses as this type of loan is very popular now. It is a manual process and requires a lot of time
You can also seek help from UKBadCreditLoans. We are an online broker that can connect you to lenders with instant loan decisions even for poor credit applicants.
|How much can I apply for?||£100 to £5,000||Zero-obligation quote|
|Length of the repayment||1-36 months||Quick payout|
|Interest rates (variable)||49.7%||Zero paperwork|
|Can I apply with poor credit standing?||Yes||Bad/low credit considered|
|Do I have to pay a lump sum?||No||Flexible repayment|
|When am I allowed to apply?||24/7||2-min simple application|
How Can UKBadCreditLoans Help You Find Bad Credit Loans?
UkBadCreditLoans is a payday loan broker responsible for finding the best payday loans UK direct lender for you. Our job is to connect you to reputable lenders and bring you the safest, quickest, and most reliable loans with minimal impact on your credit score.
Here at UKBadCreditLoans, you won’t have to worry about your credit rating. There are a lot of payday loans for bad credit in the market right now, and we do our best to find the best one with an interest rate that won’t be impossible to afford.
Looking to Borrow Money Easily?
Representative Example: Rates from 43.1% APR to 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £1,200 borrowed for up to 75 days. Total amount repayable is: £1506. Interest charged is 0.34% per day, amounting to £306, annual interest rate of 124% (variable). Representative APR: 49.7% (variable).
Are These Poor Credit Direct Lender Loans Safe?
If you search "payday loans direct lender bad credit" you will see an overwhelming number of lending institutions across the UK. This is because these lenders believe that people with bad credit profiles should be given a chance to get short-term loans.
These loans are proven and guaranteed safe, especially if you partner up with a trustworthy lender with the help of UKBadCreditLoans. These lenders ensure that all of their customers' confidential information is safe. Thus, those who wish to apply for such a loan should not be worried about having their private information compromised.
Frequently Asked Questions
Is it difficult to get loans with bad credit?
Fortunately, direct lenders not only consider clients' credit scores when approving loans. As long as you can afford the loan repayments, your application can get approved in no time.
How to check my credit score?
Every year, you may get a copy of your credit report from the three credit bureaus.
How can I boost my credit score?
You can improve your credit score by paying your loan repayments on time.
What can the direct lender loans for bad credit be used for?
These loans can be used for emergency expenses such as unexpected car repairs, emergency medical bills, unexpected household bills, etc.
How much can I borrow?
Your loan amount depends on your financial capacity to pay for the loan repayments. The approved amount for direct lender loans for bad credit is also based on the borrower's current financial standing.
When can I receive the money?
Once your loan application is approved, you can have your money deposited into your bank in as fast as a few hours.