Need cash in a hurry but don’t have a squeaky-clean credit record to support loan applications with high street banks and lenders? Don’t worry, you have come to the right place!
The reality is that you know that you have bad credit and let’s face it, there aren’t a lot of decent financial options out there for you. Or at least that is the way it seems. Luckily, in the UK, Multi Month Loans doesn’t punish borrowers with bad credit for their financial pasts.
If you have made strides towards handling your debts better and/or your financial situation has changed, you do have decent loan options available to you. And you don’t even need to leave your home or office. You can apply for quick and easy bad credit loans online, and get approval in just a few minutes. In fact, if you apply today, you could have the money paid into your bank account before tonight. Undoubtedly, you are ready to learn more.
Get Bad Credit Loans, No Credit Check, No Guarantor
First and foremost, let’s bust the “no credit check” myth. There is no such thing as getting a loan based on blind faith alone. You need to show the lender what type of customer you will be. When you see “no credit check” loans on offer, it basically means that while your credit record will be checked, the information is only used to add more detail to a broad overview of your financial situation. The credit report plays a role, but it is not the deciding factor. And that’s the very reason why you don’t have to stress about applying for loans if you find that your credit history is less than ideal.
In addition to your credit report, the following information will help to achieve approval of your loan:
Lenders will want to make sure that you can actually afford to repay the loan amount. Completing an affordability assessment can help with this. Simply listing income and expenses so that accurate calculations can be made will go a long way towards proving affordability. This is one of the reasons why it is important to avoid applying for loan amounts that are more than you actually require. If your budget shows that you cannot afford the expected repayments or that your finances will be under strain, the loan will most-likely be denied.
Earnings or Monthly Income.
Whether you are on benefits, receive contributions from a family member, or are employed – you need to earn a minimum of £700 per month to be considered a suitable candidate for a short-term loan in the UK.
How do you handle your current credit/accounts? Are you responsible and diligent with monthly payments? If you pay on time and in full, you will be viewed as a low-risk customer.
What to Expect | Bad Credit Loans
Very bad credit loans are available at Multi Month Loans, but what can you really expect? Here’s what our clients love about our bad credit loans process:
- Use your loan at your discretion – no interrogations about the reason for your loan.
- 15-minute loan approval period.
- Apply for loans between £100 and £5,000.
- Easy loan repayment terms of between 1 and 24 months.
- 100% paper-free application – apply online.
- Low APR – this includes interest rate and finance charges.
Good Credit, Bad Credit…What Does it Mean?
Some people with a less than perfect credit score consider their credit rating to be “bad”. This isn’t really how the financial world interprets credit records. All individuals receive a ‘credit score’. This is a number that’s attached to your name and it gives lenders a general idea of how you handle your current debts.
If you are the type of consumer who misses payments or simply doesn’t make payments on accounts and have a “bad credit” score, this doesn’t deem you fit for a loan. In this instance, a bad credit loan won’t be made available to you.
On the flip side, if you receive a bad credit score in the past and you have changed your financial situation, you can receive a loan. This means that your financial situation has changed and you have been paying your debts on time, meticulously. Meaning that even with your poor credit score from past issues, you can still be found suitable for a loan.
Get the Loan You Need Today
Traditionally, loans with high street banks can take a long time to get right. They certainly don’t mind keeping applicants waiting and if you need extra money in a hurry, you probably don’t have too much time to play with. At Multi Month Loans, you can apply for quick loans online in a few clicks. Receive approval in just 15 minutes and before the end of the day, your financial worries could already be put to rest.