£50 Payday Loan
Will my bad credit history stop me from getting a £50 payday loan?
Loans for smaller amounts such as a £50 payday loan the market is awash with short term loans in the UK, are not usually dealt with by banks and building societies. Even if you found one that did deal with smaller loans, even say a £100 loan too, but you should be able to get a no guarantor loan with bad credit still if your record isn’t too bad and what the lenders are looking for, you would have to make sure that your credit record is looking good as a poor credit score and history will have the banks turning you away every time but short term lenders and brokers can sometimes do instant £50 loans.
So, if you have a bad credit record what are your money lending options?
Where can I borrow £50 payday with bad credit?
You always have the option of trying to borrow money from your parents, or siblings, or maybe even a close friend but there are loads of payday loans online to choose from, online loans for the UK is a thriving business. This isn’t always ideal though and being indebted to those close to you can often put a strain on relationships so avoid short term payday loans if you can, if you still think you need a £50 loan today read on for more interesting info.
If you own a vehicle, you may be able to use the log book as collateral to borrow money against, but there is always the risk of you losing said vehicle if you can’t keep up with repaying the loan, but that probably means you won’t get a same day payout loan because there will be much more paperwork.
There are also unregulated loan sharks that loan money to people who can’t go through the usual channels but they can be very expensive and even dangerous.
So what’s left? Well, these days there are also online lenders who offer quick loans to people with poor credit ratings.
Short term Loans
These are loans especially suited to those who have had credit problems in the past and now suffer a poor credit score because of them.
The credit checks made by short term loan lenders are far less strict and thorough than the ones done by banks and credit companies, don’t get me wrong, if you try to get a £1000 loan it will be more complex, but for small amount quick cash loans are quite straight forward with a decent history. This means that even if your credit is bad, you can still get a loan.
It also means that these loans can be organised quickly and you can have the money transferred to you in a very short time.
These loans are nearly always for smaller amounts than traditional loans and are expected to be paid back quickly, either as a lump sum, or in a few instalments.
Finding short term loan lenders
Finding a lender who deals with these short term loans is no longer as difficult as it used to be thanks to the internet, the internet is full of online payday loans specialists. In fact the problem you now have is looking into all of these different lenders to see who has the best reputation, and which one will offer you the best terms on a cash loan today.
If you’ve got plenty of time on your hands don’t rush into a quick payday loan deal, then I suggest you really do your homework as making the wrong choice from the start will have consequences later.
However, if like most of us time is not a luxury we can afford and you need a fast loan today, spending hours comparing lenders isn’t realistic, especially if you need the money in a hurry.
By contacting a short term loan broker you can actually turn over the searching, comparing, and even application of these loans to the short term credit broker meaning to borrow money in the UK is really easy with the right credit history, so don’t expect a payday loan without a credit check, they just don’t exist, but payday loans for people with bad credit do.
After they have done the hard work for you, they will come back with the best loan offers and you can go over them in more detail before you decide.