Bad Credit Loans - Common Questions Answered

Our most common questions about UK bad credit loans

General Questions

Can I apply for a loan if I have a bad credit rating?

Yes you can! Here at Pay Day Bad Credit we welcome applications from customers with a bad or poor credit rating. We are able to do this by taking all of your current circumstances into account, such as current employment, ability to pay and the nature of your credit history. Many of our existing clients have a less than desirable credit rating but were approved for one of our loans. If you have any questions, one of our customer service team will be happy to assist you.

Do you perform a credit check when I apply?

Yes, we do. The FCA require all authorised UK-based lenders to perform thorough checks to ensure that the loan is right for the applicant. However, having a bad credit rating does not necessarily mean you will be refused, as we consider many other factors before we give you a decision. Our goal is to assist you in getting the right loan for your own circumstances.

Do I need a guarantor to apply for a bad credit loan?

No, you do not need a guarantor to apply for one of our loans, even if you have a bad credit rating. We have thousands of clients throughout the UK who have been approved for a loan despite a poor credit score. We understand what our customers need and that’s why we recommend speaking to one of our friendly customer service representatives in order that we may assess your situation fairly. We have high acceptance rates and you could even have your money on the same day. For more information, see no guarantor loans.

How much could I borrow with a bad credit loan?

You can borrow any amount from £300 – £1,500 from Pay Day Bad Credit when you apply for one of our bad credit loans. The application process takes only two minutes and you will receive an instant decision. On the application form you will see a clear repayment plan to help you make an informed decision before you proceed with the loan. Once approved, you could have the money in your bank account within a few hours, it really is that simple!

Application Questions

Which details do I need to apply for a bad credit loan?

In order to consider your bad credit loan application, we will need your bank account, work and personal details. Our friendly staff will be able to inform you within a couple of minutes if your loan application has been approved, rejected or needs to be reviewed. If sent for review, you will usually know our answer the same day. We always explain our decisions to our customers and we keep you fully informed every step of the way.

How long does the application take?

It takes less than two minutes to apply for your bad credit loan with Pay Day Bad Credit. Once we have your application we aim to provide you with an answer as soon as possible, which is usually a couple of minutes after receiving your application.


More questions?

Our highly trained team is waiting to assist you

If you have any further questions about bad credit loans, our application process or any other related questions, please feel free to call, send an email or even write to us. An adviser will respond promptly to your request.


Money Advice

How to get help with your finances

For free impartial advice on your financial matters, visit the citizens advice bureau or moneyhelper.org.uk

Representative example:

Borrow £700 for 6 months. 1st monthly repayment of £168.45, 4 monthly repayments of £224.60, last monthly repayment of £112.20. Total repayment of £1,179.05. Interest Rate p.a. (fixed) 185.39%, RAPR 611.74%. Our APR includes all applicable fees. Daily interest is capped at 0.798%.

Payday Bad Credit is a trading style of Western Circle Limited – Company Registration Number: 7581337. We are fully authorised and regulated by The Financial Conduct Authority.
FCA full permission license: 714479
ICO Registration Number: Z3305234

Payday Bad Credit terms and conditions apply.

Applicants must be 18 or over. All loans are subject to affordability, applicant verification and traditional credit checks via various national databases by Payday Bad Credit responsible lending policy. Loan limit maximum of £1,500.

In most cases, loan decisions may take up to 30 minutes during office working hours.
If your bank does not support Faster Payments, funds will be sent to your account the same day as approval so long as you’re approved by 16:30.

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