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Can I Get A Loan With Bad Credit FAQ

Can I Get A Loan With Bad Credit?

Home > Our Loans > Homeowner Loan > Secured Loan FAQ > Can I get a loan with bad credit

You could get a loan with bad credit, and there are different types you could apply for. Just because you have a bad credit rating, does not necessarily mean you cannot secure a loan.

A secured loan could be a suitable option if you have bad credit. With an asset like a home or a car acting as security, the risk to lenders is reduced.

This means some secured lenders may not see your credit score as a decisive factor. So that could mean a better chance of approval compared with unsecured loans.

  • An unsecured personal loan could be difficult to secure if you have a bad credit history.
  • A guarantor loan requires somebody else to may any repayments that you can’t.
  • Secured loans or secured homeowner loans involve an asset, such as a home, to act as security on the loan.
  • Short term loans require quick repayment and come with high APRs.

Many types of loans are referred to as ‘bad credit’ loans – they’re aimed specifically at applicants with low credit scores.

Short term loans can be a suitable option for small amounts to be paid off within a month or so. Their APRs can be upwards of 500%.

Guarantor loans are available over longer terms than payday loans. They require somebody who trusts you to co-sign the loan. They would then have to repay the loan if the borrower wasn’t able to.

Secured or homeowner loans usually have the longest terms. They require an asset, like a home, to act as security on the loan.

Warning: Late payment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

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Our Address

Evolution Money,
9 Portland Street,
Manchester,
M1 3BE


Registered Company Number: 06987852

Contact by Phone

General Enquiries:
0161 814 9158

Complaints:
0161 814 9165

Contact by Email

Evolution Money Limited is a licensed credit broker and service provider to Evolution Lending Limited. If your application doesn’t meet the underwriting requirements of Evolution Lending Limited we may pass your information to other lenders and brokers. Evolution Money Limited is a company registered in England & Wales, registration number 06987852 and registered at 8 St John Street, Manchester, M3 4DU. Authorised and regulated by the Financial Conduct Authority, firm reference number 708324.

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Fair Processing Notice

Who we are:

Evolution Money Ltd, Progressive Money Ltd and Evolution Lending Ltd are all wholly owned subsidiaries of Darwin Loan Solutions ('the Group').

We take your privacy seriously and will only use your personal information to

A) Discuss loan offers and provide you with the products and services you have requested.
B) If you take out a loan with us and become our customer, it will also be used to manage your loan.

We'll keep your details for up to 12 months to enable us to help you with your loan application. If you don't take out a loan with us, we will delete your enquiry details unless regulations say we must keep them for longer.

This won't change any marketing preferences you've already chosen.

How we control and process your data:

Our companies hold and process your personal data in accordance with Data Protection law in the UK. We are committed to maintaining the privacy and protection of all personal data collected in connection with our broker and loan services. We may share your information with credit reference agencies and other companies for use in credit decisions, for fraud prevention and for debt collection purposes.

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If you're happy to be contacted about these, please click the boxes to tell us how you want us to get in touch with you.

You can change how we contact you at any time by simply getting in touch with us on FPNandmarketing@darwinloansolutions.co.uk or 0161 814 9210.

Your choices do not affect your enquiry/loan application in any way.

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You can change how we contact you at any time by simply getting in touch with us on FPNandmarketing@darwinloansolutions.co.uk or 0161 814 9210.

Your choices do not affect your enquiry/loan application in any way.

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Please read the full details of our Fair Processing Notice including Credit Reference Agency Information Notice (CRAIN) Click here to see a copy of the CRAIN.

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Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

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Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

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