Bad Credit Loans

If you’ve been refused a loan elsewhere or you don’t want to take out a loan with a guarantor, getting a secured bad credit score loan might be the best option for you.

Bad credit loans are ideal for those times when you need a cash injection relatively quickly. This could be for home repairs or even to buy a new car.

In order to know if you are trustworthy, banks will want to see evidence that you will make all repayments on time.

To get this evidence, they look at your credit history – a record of all the loans and significant transactions that you’ve made in the past. This record is known as a credit report and is expressed as a number called a credit score.

If you don’t have an established credit history – maybe because you’ve have missed the occasional payment on your credit card, incurred a CCJ, are young, or have migrated to the UK from abroad – the banks will typically think it’s risky to lend you money.

However, even if you do have a credit history but you’ve had trouble in the past repaying a loan or credit-card bill, this will be reflected by a lower credit score. And if you’ve had enough financial trouble that you have a bad credit score – typically a score under 720 – then the banks will still see you as unreliable and you might find it difficult to get a loan.

In the event that you need to borrow money but are seen by lenders as a poor or unreliable ‘bet’, special guaranteed loans for bad credit are a viable option for you.

To be eligible for a bad credit loan with Evolution Money, you must:

• Be aged between 21 and 70 years old
• Be a homeowner
• Live in the UK
• Be able to afford the repayments using your regular income.

We’re also happy to offer bad credit loans with no guarantor, meaning that you don’t need to find someone else to back up your application.

Here at Evolution Money, we like to say yes! We know that recent circumstances have been hard, and that many traditional direct loan lenders for bad credit like banks and building societies have either severely tightened their lending criteria or stopped lending altogether. This is why we take every case on an individual basis.

We don’t just look at your credit history but instead take a more holistic approach, choosing to focus on your current situation rather than your credit history. Even if you have been refused elsewhere because of a less-than-perfect credit rating, we don’t rely on automated credit checks so may be able to offer you a bad credit loan.

Why not contact us today to find out how we can help you?

Even if you have bad credit, you can borrow money from £5,000 all the way up to £100,000 with our secured loans. Repaid from between 3 and 20 years, these tailored secure loans help you to stay in control of your finances.

We know that applying for an online loan can seem like a long and daunting process. That’s why we’ve made it easy to apply for an online loan with poor credit.

Simply complete our online form and get your no-obligation quote today – or use our handy online loan for bad credit calculator.

We don’t believe that bad credit should be an obstacle for getting the loan you need. In fact, our approach to bad credit guaranteed loans means we’ve already helped thousands of people with adverse credit ratings get access to the loans they need – loans they just couldn’t get anywhere else.

And it’s an approach that means we can help you too.

Our guaranteed loans for bad credit have been designed for customers with adverse or poor credit in mind. Providing you with the ability to set the repayment terms.

As UK-based loan experts, we will assess your current situation and assist you every step of the way with your application.

If your application is approved, we’ll do everything that we can to get your bad credit loan to you as quickly as possible. The exact timeframe depends on several factors, including how quickly you can supply us with your documents and information.

Guaranteed loans are loans that you’re guaranteed to get, regardless of your financial situation or history. However, this type of loan isn’t available in the UK – and for good reason.

Credit and affordability checks protect you from taking out a loan that you can’t afford, which could potentially do further damage to your finances.

In the rare event that a lender does offer you a guaranteed loan, then they will likely charge you unusually high interest rates and fees to protect themselves against risk. Make sure that you only take out loans from Financial Conduct Authority-registered lenders. You can see that we’re approved on The Financial Services Register.

Yet even though we can’t promise you a loan for which you’re guaranteed to be approved, we can promise to take your full circumstances into account – not just your bad credit. Simply complete our online form and get a no-obligation quote today.