Bad Credit Loans

It is a fact of life that circumstances can sometimes conspire against us. As many as 1 in 4 adults in the UK have had credit problems in the past - often through no fault of their own.

This can cause difficulties when applying for credit. We aim to side-step these problems and as such we have teamed up with lenders who can offer loans in the following circumstances :

• You have CCJs
• You are a senior citizen
• You are claiming benefits
• You are self employed without accounts

(Homeowners only. Different terms apply for tenants.)

Credit Scoring

Almost all reputable lenders use a system called credit scoring when deciding whether to accept applications for loans.

A secured loan is more likely to be accepted by a lender, especially if the client has had previous credit problems. This is because the lender has security - ie some guarantee they will be repaid.

Should your loan application be unsuccessful, Personal Loans for Bad Credit will not be told the reason for this, for Data Protection reasons. However, if this happens, we will email you with details of further options.

Credit Scoring Criteria

Applications are awarded 'points' or 'scores' for answers to questions on the application form. Different lenders add differing weighting to the application questions as they each have their own lending criteria, but in general they will look at:

• How long you have been at your address, and how often you have moved home
• Marital Status and number of children
• Accommodation status. Lenders often judge homeowners to be a better risk
• Employment and salary. Lenders prefer a stable employment history
• Existing or previous credit. If you have a history of prompt repayments this will encourage the lender.

There are various other criteria lenders use - each question on your form is important.

How Can I Check My Credit Status?

Visit checkmyfile.com for a free report.

Unsuccessful Applications

Personal Loans for Bad Credit will assess each application individually. We will inform you as soon as we have a decision from the lender. In some cases, we may not be able to find a lender to suit your circumstances. If this happens, we will email you promptly and offer further options.

If the lender declines an application, we are not told the reasons, however you are able to write to the credit reference agancies to check the information they hold on you. Please see the Loans FAQ section on this site for details.