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Short term loans for bad credit – What do you need to know?

Those with low credit scores might think they won’t be able to get a short term loan for bad credit, but with New Horizons, they have an excellent chance of success. We process thousands of applications every day and approve 92% of them. All of the lenders that we work with use soft search technology, which means that you can apply for a bad credit short term loan without having your credit score impacted in any way

Many direct lenders are now offering short-term loans for people with bad credit. As with other short-term loans, these loans are often for small amounts of money and feature a short repayment period; usually around one month. Specifically designed for people with bad credit, these short-term loans provide people with instant access to funds in times of emergency.

Short term loans for bad credit questions

Q1 – Will my bad credit rating affect how much can I borrow?
Q2 – Are short term loans for bad credit more expensive?
Q3 – How do I apply for a short-term loan with bad credit?
Q4 – Is a bad credit short term loan right for me?
Q5 – Do short-term loans feature a credit check?
Q6 – What is a bad credit loan?
Q7 – Do New Horizons offer short term loan for bad credit?

Will my bad credit rating affect how much can I borrow?

Short term loan bad credit direct lenders in the UK offer a variety of loan amounts and terms. If you are looking for the cheapest short term loans or low-interest loans bad credit, our panel of direct short term loan direct lenders may be able to help you borrow from £50 to £5,000 over 3 to 36 months.

Are short term loans for bad credit more expensive?

Bad credit short term loans online are available to customers who have a good credit rating and those who have a poor credit score. The rates offered will be dependant on your credit score, how long you have been in your job, how much you earn and your ability to repay the loan. That means low-interest loans bad credit does not mean you will get the cheapest deals on the market, at New Horizon’s we will help you find the best UK short term loan for your circumstances.

How do I apply for a short-term loan with bad credit?

We believe that having a bad credit score should not stop you from obtaining a short term loan when you need one. Thankfully, many direct lenders in the UK now agree with us. Therefore, to help people with bad credit scores get access to the short-term loans they need, we have created a simple application process.

Using the information you provide to us, we match you with reputable lenders who we have calculated can give you the best deal and also who are most likely to approve your loan. This allows you to quickly compare the loans being offered to you, as well as eliminates the worry of your credit score is negatively affected by your application being denied. Applying for short term bad credit loans has never been easier. There are more and more direct lenders in the UK now offering such loans, the unfair disadvantages of having a bad credit score are finally less evident.

Is a bad credit short term loan right for me?

Direct short term loan lenders offer a variety of rates and terms. If you have any bad credit in the past six years, you are likely to be declined by high street banks; however, UK short term loans may still be an option for you. You can apply for short term loans online at New Horizons, and our short term loan direct lenders will use soft search technology which won’t impact your credit score.

Do short-term loans feature a credit check?

The short answer to this is yes. If you apply for a short-term loan in the UK, The Financial Conduct Authority requires the direct lender to perform a credit check on you. There is no way around this, no matter what some companies would lead you to believe. However, this is not as bad as it once was. While previously, this would have likely made it difficult for people to get short-term loans if they had a bad credit score, many lenders are now changing how they assess a person’s suitability. If a company is advertising short term loans with no credit check they should be avoided.

Understanding that there are many people with bad credit scores who are wrongly penalised, many lenders now offer short term loans for people with bad credit in the UK. As a result, an increasing number of people are passing credit checks despite having poor credit scores and are therefore being given equal access to short-term loans when they need them.

What is a bad credit loan?

Bad credit loans are a product to help customers who are looking for a short term loan but who have had some credit problems in the past. If you are looking for a direct lender short term loan, we can introduce you to some of the best UK short term loans.

If you have missed payments on credit in the past, had a default or a CCJ, being approved for the best short term loans can be a challenge. At New Horizons, however, we can assess your likelihood of being accepted for a short term loan for bad credit without impacting your credit history.

Do New Horizons offer short term loan for bad credit?

As a loan introducer, New Horizon’s partners work with a variety of short term loan direct lenders, meaning that if you are struggling to get approved for a short term loan, we may be able to help, even if you have a poor credit score.

I am struggling with my debt and can’t get a loan to consolidate, what next?

If you are struggling to meet your monthly repayments, and you have been unable to reduce them, you can seek advice. Firstly, speak to your creditors if you are going to be unable to make a repayment. They may be able to help you.

www.moneyadviceservice.org.uk
www.stepchange.org
www.nationaldebtline.org