Frequently Asked Questions

Our most frequently asked question below:

Can I really apply for one of these loans?

From our experience we have found that when people have turned down for a loan previously, they need to find a lender who will not penalise them for past financial mistakes.

  • Our lenders will lend to you
  • Though before they lend, our lenders will do a very brief check just to make sure the applicant is not bankrupt, in a Trust Deed or IVA
  • They are not interested in your current score, missed payments or even CCJ’s.
So the accurate way of describing this is that your financial record will be very briefly checked, but not scored.

Why are you loan more widely available?

Most lenders look at your credit score as one of the primary deciding main factors as to whether they will lent or not.

  • Our lenders so things differently
  • Instead of looking at your credit file our lenders ask that you find someone to back your borrowing, a friend or family member, and it’s their credit file that our lenders will look at and not yours
  • You will be borrowing money and making the repayments, but just in case you do not the lender will be approaching your guarantor to make the payments

It is therefore very important that you are very able to make your repayments, for we are sure you will not wanting to be calling on your guarantor to be making these payments for you?

What if I cannot find a loan guarantor?

Over 10 percent of people who take out this type of finance did not originally think that they would be able to find a guarantor.

  • The key is to firstly make sure that you can address their concerns up front and display that you can comfortably afford the repayments
  • Then make a list of all the people you know who also trust you, this list will probably be longer than you think, friends, work colleagues, parents, relatives
  • Then all you have to do is ask them, for they may even say yes!
  • If you have been through this process and you cannot find a guarantor, unfortunately at this stage we are unable to help.
Our lenders finance is better value than others on the market and have lower APR’s, because they require borrowers to have a guarantor.

So how quickly can I get the money?

£50 to £750 is available in 1 hour and £750 to £10,000 in as little as 24 hours.

  • Our short term lender has a particularly streamlined online process
 
  • To be able to get the cash in one hour you will need to fill out the online application and have all your supporting information ready (see next question)
  • The longer term finance options take a little longer, up to 24 hours from the time you submit your completed application.

How much does borrowing cost?

Our lenders finance are specifically for people with bad credit ratings, so they are more expensive than other options you may get from a high street bank or other mainstream lenders; but much cheaper than other fast solutions such as payday-loans.

  • We do though have a number of different lenders so costs do vary
  • To get an initial assessment of costs please see our Calculator
  • To get detailed fees and charges from each lender you will need to apply  and then you will receive a number of no obligation offers which details the exact cost and charges
Please note there are:
  • No application fees
  • No early redemption charges
  • No broker fees – we get paid by the lenders

Can I apply online?

Our application is completely online

  • This helps to make the application to pay-out process fast and efficient, plus discreet

What information do I need to apply?
I only need the money for a short period of time, can I also pay it back quickly?

  • You can pay back your borrowing at any time you wish without any early redemption penalties of charges
  • However much you borrow, if you want to pay back early you can

How much do your borrowing options cost?

APR's are 627%  which is significantly less that other  TV advertised products which can be as expensive as 5,000% APR!!

  • To find out though what this means and the actual cost to you please use our calculator
  • Please note that there are no application fees or early redemption fees

What criteria does my guarantor need to meet?

They need to have a clean credit file (or as the very worst marginally imperfect), be a UK resident over 18.

Who can my guarantor be?

This can be anyone, your parents, relatives, friends, colleagues.

  • Apart from meeting the criteria, your guarantor should be someone whom trusts you to pay the loan back, for if you do not they will be liable for making your repayments.

How quickly can I get the money?

Our lender has a highly streamlined process means that you are able to get cash in 1 hour!!

  • All you need to do is fill out the online form, have your debit card (to verify your identity) and you loan backers details ready and the cash will be with you in one hour!

What happens if I cannot pay back on time?

The interest is calculated on a daily basis, so every day that you pay late the interest charges will be

  • So the quick answer is that if you do not pay back on time you will be incurring greater interest charges, which will rise over time
  • So you really need to pay back as quickly as possible
  • If that is not possible, it may be worth thinking about a longer term borrowing solution where you can spread your payments
  • Our longer term options are around 50% APR versus 627% APR for short term borrowing
If you are worried that you may get into difficulties with short term borrowing, why not find out how much the longer term options will cost you with our calculator.

Can I still get a loan even if my recent financial history is poor?

You will still be able to get a loan with us.

  • We have a wide range of specialist lenders who offer a range of available products, even if you have a low score.
  • The products we offer require you to find someone to guarantee your repayments; they become your backer and our lenders look at their file rather than yours.
  • Our products are significantly cheaper then many of the current available options. To find out how much you can afford to borrow, go to our Loan Calculator

Under what circumstances will my application be accepted?

Quite simply, as long as you can meet our lenders criteria you will be eligible for a number of poor credit loans:

  • Eligibility criteria No 1 is that your credit score does not matter!
  • There is lender criteria that you need to meet, such as being over 18, having UK residency / bank account & debit card, plus not being in an IVA, Trust Deed or Bankrupt
  • You also need a friend, colleague or family member; to be your guarantor. For more information see Guarantee Criteria

How much can I borrow and what can I use the money for?

(1) £50 to £750 for typically up to 30 days and

(2) £750 to £10,000 from 1 year to 5 years

  • To specifically find out how much our lenders will lend you will need to apply and you will be send a number of offers.
  • In terms of what the money can be used for, whilst we do encourage people to only borrow for absolute necessities, in reality as long as you meet the lending criteria you will be able to borrow the funds for any purpose.

Are you just another expensive type of payday-loan?

No!

  • Payday finance are extremely expensive, with APR’s as high as 5,000% APR!
  • Our lenders products are typically APR 49.4% for loans up to £10,000 and 630% for loans below £750
  • Our poor credit are much more affordable and better value than payday loans

How do I find someone to guarantee my borrowing?

There are lots of people who could be your guarantor and back your application. Friends, family members, work colleges, plus anyone else whom you have a relationship with, someone who trusts you.

  • They will need to have a clean (or very marginally imperfect) credit rating plus meet the criteria
  • Remember that it is you who will be paying the money back, all they are doing is providing the lender another way of getting paid just in case you were to default on the payments
  • Step one we recommend making a list of all the people whom you think could be suitable guarantors
  • Then prepare well so you can answer all their potential questions before they ask them

- Why do you need the money, how much will you be borrowing and for how long?

- Can you afford your repayment?

How can I make someone comfortable about being my guarantor?

Before asking someone to guarantee you loan we recommend preparing for all the questions that they may ask you:

  • How much you will be borrowing and why you are borrowing the money?

People will just need to be comfortable that you are borrowing the money for the right reasons

  • How much your repayments will be and over how long?

Not only do you need to be very comfortable with your repayments; but the person guaranteeing you loan needs know that you can afford the financial commitment. If necessary you may need to be quite open with them, just to make them confident that you will and can repay the money.

To find out how much the repayments when borrowing differing amounts over different periods of time please see out Calculator.

Can I pay off the loan early or make lump sum payment so it’s paid off quicker?

You can both pay of the balance early and make lump sum payments so it is paid off quicker:

  • All interest is calculated on a daily basis, so as soon as you make extra payments your interest charges will reduce
  • Also if you want to pay the balance off completely, you are able to at any time and you will not be penalised for this

What are the fees and charges?

To find out how much it cost with our calculator  will give you an approximate cost across all our lenders. Please note there are

  • No enquiry fees
  • No early repayment  fees
  • No broker fees (we are paid by the lenders)
Get a no obligation quote  to get an exact breakdown of all fees, interest and charges. Note, you do not pay us anything, we are paid by the lenders.

What can the money raised be used for?

Anything! Unlike a high street bank, our lenders are not concerned about what the money raised will be used for, (though we do encourage responsible borrowing). Typically people use the loans for:

  • Replacing or repairing a car or vehicle
  • Home maintenance and repairs
  • Emergency cash to last to the end of the month
  • Debt consolidation, such as paying off expensive payday finance and credit cards
  • Holidays
  • And much more…..

How long will it take to get a loan?

As quickly as 1 – 24 hours depending on how much you are borrowing

  • Small loans from £50 to £750 are available in as little as 1 hour!
  • The streamlined application process and all you need to provide is your debit card details and your guarantors contact details for you to receive your cash directly into your bank account in as little as one hour!
  • Larger loans from £750 to £10,000 can be with you as quickly as 24 hours from the time of receiving your completed application.

Can I make over payments to pay the balance back early?

You can make an overpayment at any time you wish

  • the interest is calculated on a daily basis so every time you do pay back more money, you will greatly reduce the overall cost of your borrowing
  • You can also settle at any time and for all our lenders there are absolutely no penalties for early repayments*

*This was true at the time of writing, though please always double check your offers terms and conditions as lenders occasionally do make changes

Can borrowing money help to improve my rating?

Yes, getting finance and paying back as promised with no missed or late payments will help

  • On your file lenders can look back as far as 6 years, and look at any missed payments and CCJ’s, also loans that you have honoured and paid back successfully
  • As a result you will have a better choice at better interest rates in the future.

My recent financial history is poor, can I still borrow money?

The quick answer is YES

  • The way our lenders work is that you are required to get a friend or family member to be your guarantor
  • So long as they have a good history our lenders are not concerned if yours is not good*
  • By guaranteeing your borrowing, your friend or family member basically agrees to make the payments if you cannot
  • If your friend or family member trusts you, and you demonstrate to them that you can afford the repayments, there is not be a problem
  • *Note: our lenders cannot lend to those who are formally insolvent (IVA, Trust Deed or Bankrupt).

What Criteria Must I Meet To Get A Loan?

We get quotes from the best selection of bad credit lenders in the UK, specific criteria is therefore subject to change and may slightly vary, but the following summarising the primary criteria:

  1. Over 18 years of age (max of 65 for above £500)
  2. Income over £100 per month including benefits (over £500 only)
  3. UK Resident (excluding Isle of Man)
  4. Not insolvent (IVA, Trust Deed or Bankrupt)
  5. Have a UK bank account and a debit or credit card
  6. Have a friend, colleague or family member with a clean credit rating who can be your guarantor
Criteria for your Guarantor is as 1-4 above plus:
  1. Good (or marginally imperfect) credit rating
  2. Tenant or homeowner (homeowners will help you get borrowing over £5,000 plus better rates)
  3. Income over £400 per month for £50 to £500 or £500 per month for £500 to £10,000.

Will I Be Checked?

You will be checked simply to make sure you are not insolvent (IVA, Trust Deed or Bankrupt)

  • Missed payments, CCJ’s are not a problem, so please be relaxed about this.
  • Your friend, colleague or family member who is guaranteeing your borrowing will though be checked and a clean history (or very marginally imperfect) for them is important

How Much Can I Borrow?

From our range of lenders you can borrow from between £50 and £10,000

  • £50 to £750 short term for up to a month

These  are designed for short term emergencies for a maximum of one month only. The application process is fast and it’s possible to get your cash in one hour. Apply Now

  • £750 to £10,000 longer term from 24 to 60 months

Available from 12 to 6 months, these are more cost effective than the short term options. The application process is also quick with loan pay outs as quickly as 24 hours. Apply Now



One simple application will get you multiple loan offers in minutes

*Multiple offers apply to loans over £750 only

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