Short Term Loans Bad Credit

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This is a difficult subject and is very contentious, as we, as a direct payday lender, do not agree with Short Term Loans for Bad Credit.

We are not being self righteous, or unfair but we feel that people with CURRENT bad credit need to be very careful about borrowing money.

This is particularly true when the lender is a payday lender or high cost lender. The danger of borrowing from these types of companies are that the interest rates charged are so high that if a borrower misses a payment it can be very expensive.

Some lenders will advertise themselves as “Short Term Loans Bad Credit” lenders, but as I say above care must be taken, as any default is likely to be reported to the borrowers credit file and could make the situation worse, as getting further credit could prove difficult. So the problem of having bad credit, could get worse by borrowing money.

Some direct payday lenders will claim that borrowing from them could improve your credit score. This “could” be true, but I really do not believe that a credit rating will improve just because you have paid back a short term loan. It is just not that simple and I do feel that companies that are making these claims should retract these statements or at least fully justify the claim.

We do consider people with historical bad credit who have shown more recent signs of improvement. We undertaken the same checks and ask the same questions and give no preferential treatment. As you might expect, we turn more people down with bad credit than we lend to.

We always say, please only borrow money if 1. You really need to borrow it and 2. You really can afford to pay it back. We do not want to lend money to people who want to buy a new pair of shoes, or need some money for a night out with their friends, we want to lend to people who need emergency cash, not a bit of extra spending money.

Warning: Late repayment can cause you serious money problems. For help, go to

Representative Example: Representative 1286.98% APR on a loan of £300.00 with 5 monthly repayments of £101.03 Total amount repayable £505.13 Annual interest rate (fixed) 290%

This article contains information about products/services offered by us as well as those that we do not offer.

Author: Internal Marketing Department