It’s also worth keeping in mind that making numerous applications over a short period of time could negatively impact on your credit score. This is because all direct lenders are required to conduct a full credit check before accepting a loan application. For each full credit check conducted, a temporary marker will be left on your credit file and these can reduce your credit score and harm your chances of accessing further credit in the future.
At Little Loans we specialise in finding loans to suit your needs, whatever they may be. If you have a low credit score, we could help you to apply for a loan with a lender who is most likely to approve an application even despite your situation. Whilst all loans are subject to status, the application process on our website is designed to make it easy to apply for a bad credit loan online.
Because our application process involves only a ‘soft’ credit check, there is no risk of your credit rating being impacted until you decide to make a full application with a lender from our panel. Even then, you stand to benefit from access to multiple lenders as we work with a broad array of UK loan companies who provide credit to people from all backgrounds, each with their own unique credit history.
The loans we help to connect borrowers with are flexible and you can borrow between ?100 and ?10,000, to be repaid over three months to five years depending on the amount you wish to apply for.
How much can I borrow?
Our carefully selected panel of direct lenders provide flexible loans for people with bad credit of between ?100 and ?10,000, with repayment terms ranging between 3 and 60 months. Whether you will qualify for the loan amount you seek will depend on a number of factors, in particular, whether your current financial circumstances will allow you to reasonably repay what you borrow.
You can use our Quick Check tool to assess your affordability and get an indication of whether one (or more) of our lenders might be willing to consider your application.
How quickly can I receive the money?
If your application is successful, the money could be sent to your bank account in just minutes*. This will depend on the amount you want to borrow, along with the systems and processes used by your bank which unfortunately are outside of the lender’s control.
The time to actually receive the money will be influenced by the speed you bank processes incoming payments, what day of the week it is, whether it is Bank holiday and other factors.
What are the repayment terms – how long to pay it back?
Our trusted panel of lenders offer a number of different repayment terms depending on the amount of money borrowed, allowing online payday loans Bridgeport on you to stretch out repayments to make your bad credit loan easier to cope with.
If you need to borrow less than ?1,000 you can choose a repayment period of 3,6 or 12 months. It isn’t a problem if you need more though, and our lenders may be able to provide a longer repayment period of up to 60 months. Keep in mind, however, that interest charged over longer periods of time could see you repaying a larger total sum.
What happens if I can’t afford the repayments?
Failing to make payments towards an outstanding loan can have serious consequences, and it’s important to borrow responsibly. That being said, if you are concerned that you will be unable to meet your repayment obligations, contacting your lender at the earliest opportunity could help you to avoid trouble in the future.