Bad Credit Loans

Are you finding it hard to get approved due to a bad credit history?

If you have bad credit and are on a low income, getting approved for a mainstream loan will be difficult. Payday loan providers are the main lenders who will provide funding but at a high cost. Be very wary of taking out a loan with a payday lender as you may be putting yourself in a worst position should you not be able to make the repayments on time.

Options for bad credit loans may be limited but there are a other ways of getting financial help. There are many government and non-profit grants to help individuals and families in the UK. These can help everyday living costs such as food, housing, utilities, childcare and emergency funds.

* Popular Loan types – See loan and benefit options for specific circumstances here.

Crisis Loans
Which have now been turned into the Local Council Support Scheme which is provided by your local authority. They provided funds for emergencies such as avoiding eviction, putting food on the table, health issues and other serious living issues.

Budgeting Loans
These are no interest loans for those who have been on benefits for at least 6 and a half months. Similar to the local Council Support Scheme, these funds must be used for household essentials.

My Home Finance
If you have been tempted to take out a payday loan, this may be a better option for you. My Home Finance provide cash loans up to £500 and with a relatively low interest rate 29.9% when compared to payday lenders. This is a great alternative for those who need cash with no purchasing restrictions attached to the funds.