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What are bad credit loans?

Poor credit history restricts individuals from borrowing money, and thus, they often look for the bad credit loans from the direct lender no broker to get smooth funding. As part of the personal loans, these loans are the specialised lending products for those with less-than-perfect credit scores.

Sometimes borrowing with higher interest rates bring positive outcomes for the borrowers such as quick funding access and improving credit scores if you keep making regular payments.

The rates are on the higher side because the lender is usually on the risk of lending those with not so good credit history. Still, some reliable direct lenders in the UK offer these unsecured loans on the competitive interest rates depending upon the affordability of the borrowers. However, these loans are also secured, and that will keep the interest rates on the lower side.

The better way to get instant funding is applying for bad credit loans online*. With not much documentation is involved, you only need to fill up a single page online form and submit it as soon as possible.

* You should be 100% sure that you can afford the loan repayments before signing the loan agreement. We will do the necessary credit check to go through your financial capacity.


Perhaps, the most considerable concern in front of the people with poor credit scores is finding out the guarantor. It is due to the less creditworthiness of these individuals, as no one trusts on their financial capacity.

At the same time, lenders also put the condition of having a guarantor with good credit score and a homeowner. Thus, it becomes more difficult or it takes a lot of time. What will be the best solution to this?

The answer to this is bad credit loans with no guarantor and no broker.

Yes, these specified loans suit best to the above situation. You do not need any guarantor while e-signing the agreement on bad credit loans. This facility is largely from the direct lenders.

Instead of personal guarantee, lenders want to look at the income capacity of the borrowers. Their recent financial performance also matters a lot.

Does 24cashfinances offer Bad Credit Loans with No Fees?

Loans are meant for reducing the financial burden of an individual. It is up to the lenders what strategy they follow and what terms they levy on a loan deal.

The mainstream lenders are too much specific about the credit scores. They often deny the loan applications with bad credit scores mentioned or provide loans on hefty charges. Therefore, people with poor credit history often worry about their loan chances.

The responsible direct lender like 24cashfinances always takes care of each individual’s loan aspirations. We are ready to assist people with low credit scores and offer bad credit loans with no fees at all. Only the interest rates that borrowers need to pay.

Apply now for our exclusive deals on loans, which hardly take 5 minutes to complete from your PC, laptop, phone or tablet.

We relax you by taking an instant decision on your application and allow fund disbursal on the same day. The process is faster than the brokers, and there will be no fee in between.

No Upfront Fees

You can apply for the loans with no extra burden. Get an obligation-free loan quote and confirm the loan deal only after analysing the manageable interest rates.

No Early Repayment Fees

Whether you want to pay weekly instalments or monthly instalments, you can repay your loan early any time with not paying any early repayment charges.

No Broker’s Fees

We are the responsible direct lender and committed to offering loans in a quick process. You do not need any broker to reach us. Our online presence is all over the UK.

No Hefty Late Repayment Fees

Circumstances can happen when you struggle to repay the loan instalments on time. You should not worry because we do not charge hefty fees on late repayment.

24cashfinances always welcome continuous communication with its borrowers. Therefore, we expect that you call us anytime if you want early repayment or have to make late repayment. We find out the best solution for you.


Bad credit is like a curse to your financial record. Many individuals in the UK have such issue because of their unstable monthly income. Fortunately, the direct lending marketplace does offer guaranteed loans for bad credit.

You may wonder how guaranteed loan approval is available for poor credit people. It is possible because the direct lender usually takes care of present financial scenario while dealing with loan applications with bad credit.

If the current performance is up to the mark and your credit score is improving, lender can approve your loan request.

Another major factor behind 100% guaranteed loans is the soft credit check. Unlike traditional lenders, the online lenders tend to pursue flexible approach. They may check your credit score but do not reject your application.

Again, your recent credit performance should be good and earning a good monthly income.

Bespoke Offers on Bad Credit Loans for People on Benefits

If there are some restrictions, then there are many facilities for people living on benefits or unemployed people. These individuals often struggle with limited income, and thus they have to face a poor credit score.

We assist them too by bringing affordable deals on bad credit loans for people on benefits. Indeed, the loan approval criterion varies from other standard loan options, but it consists of these conditions:-

How much part-time income you are earning?

What is your ability to repay the loan?

What is your credit history?

If you qualify on these conditions despite poor credit scores, you can borrow funds without any hassle.

The salient loan features for the people living on benefits are:-

  • More than 97% loan approval chances are there
  • These are small loans and suitable for the financial emergency
  • No collateral is needed, as these are unsecured loans for bad credit
  • We offer loans on flexible repayment plans, which unemployed people can easily follow
  • Loans are available only on your affordability to repay

These are higher interest rate loans but also have a higher acceptance rate. Borrowers have only one concern, i.e. such loans are expensive than usual. 24cashfinances vouches for the best deals to prepare for the concerned borrowers, including competitive interest rates.

Acceptance on Benefits

We are a new-age lender and have borrower-friendly loan deals. Unlike other mainstream lenders or private lenders in the UK, we are ready to accept applications of loans on benefits even if you have a bad credit score.

We can accept these benefits as the mode of making loan repayments:-

  • Disability allowance
  • Unemployment benefit
  • Family allowance
  • Severe disability allowance

We suggest you apply for bad credit loans for people on benefits only during financial emergencies. We bring quick approval when you have a sudden financial crunch due to unexpected bills, medical issue or car repair. You should not use loans for long term financial goals.

Is it difficult to get approval on bad credit loan?

The digital way of borrowing makes any loan easy to get approval from the lender. However, people with poor credit profiles need to work hard more for loan acceptance, but they do get especially from the UK direct lenders.

The approval on loans for people with bad credit depends upon several things:-

How bad your credit score is right now?

Are you capable of borrowing on higher interest rates?

You should know that your one late repayment three months ago has a lesser impact than having the County Court Judgement (CCJ) against your name. While applying, you should not have such issues because they will reduce your chances of availing the loan. As far as credit score is concerned, you can check it by approaching credit reference agencies like Experian. Or, we can do this favour on behalf of you that will save your time a lot.

Your agreement on the higher interest rates indicates that you can afford the loan throughout the prescribed term. It will help you to get a bad credit instant loan with no hassle.

To make loans more accessible for you, we first work on improving your credit scores. Our lending experts are ready with their fee-free advice and give valuable suggestions like:

  • You should be committed towards current credit performance

  • Do not use too much credit cards and keep its use below 20%

  • Double-check your credit report to avoid any errors

  • Keep your name in the electoral roll as long as possible

  • Do not go for many loan applications in a short period

Follow these suggestions and make easier getting bad credit loans in the UK.

Why my credit score is bad?

As long as you have poor credit scores, it does affect your chances of getting future borrowing. Therefore, it becomes essential to know why you have the bad credit score and why you thus need loans for bad credit.

  • Missed Repayments:You have several missed payments on your previous debts, and thus you have the low credit scores. It happens in the past, but you need to concentrate now on such matters more sincerely.

  • County Court Judgement (CCJ):Missed repayments, bank defaults, bankruptcy and County Court Judgement (CCJ) cause your credit score worst a lot. CCJ against your name harm your borrowing chances a lot. Some people even struggle with their very bad credit scores when they have CCJ. Removing this tag becomes essential, and thus, the need for very bad credit loans comes into the picture.

24cashfinances is committed for both the people with bad credit and very bad credit scores. We can even provide cash-at-the-door facility if they do not have a bank account. But all such things depend upon borrowers’ affordability to manage the loan.

Is availing bad credit loans a right decision or not?

To improve the credit ratings, applying for bad credit loans is indeed the right decision to get money without any hassle. In the marketplace, several lenders prefer people with better credit rating, as they can ensure timely repayments.

The direct lenders in the UK offer poor credit loans those who are struggling with low credit ratings. These loans come as another chance of borrowing irrespective of their adverse credit history.

Why Bad Credit Payday Loans Right for You?
  • These loans are the best for the instant funding access as there is no hefty documentation involved.
  • The lenders may sometimes offer you flexible repayments plans that would help in improving credit scores.
  • These are the unsecured loans with bad credit. It means borrowers’ collateral is safe and without any risk
Bad Credit Loans Can Be Risky Sometimes
  • These loans have higher interest rates than typical loans. Thus, we provide as per your affordability.
  • You cannot opt for long term funding with these loans, as they are more suitable for the financial emergency.
  • In case of CCJ or bankruptcy, the lender may perform a hard credit check with the permission of the borrowers.

If your finances have the affordability to bear the high-interest rates, then you can easily avail high acceptance bad credit loans from the direct lender.


There is no doubt that a bad credit score hurts every individual. Still, it has a bigger impact on those with unemployment. Fortunately, bad credit loans for the unemployed are there to assist them financially.

People with no full-time income often face troubles in keeping their credit score up to the mark. They have to rely upon their part-time income, and most of its part goes to the regular expenses.

Covering unexpected expenses becomes impossible, and thus it will disturb their credit score.

The loans for bad credit with unemployment act in this situation. The loan aspirants receive instant funding through online applications. No documentation and no legwork are required to get the amount.

24cashfinances, as the dependable private lender in the UK, understand the compulsion of jobless individuals.

Therefore, we have brought up the deals where loans for bad credit with no guarantor and no fees for unemployed are quite the possibility.

Our primary objectives of providing you with these loans are:-

Funds for everyone:

We want to fund the financial needs of everyone, including the unemployed people. Therefore, we do not ask for loan purposes but expect that you use funds for the right purpose.

Acceptance of unemployment benefits:

We want to open up every way so that you can have benefited from our loans. Consequently, you get the loan approval even if you are living on unemployment benefits.

Supporting you until finding the new job:

There is nothing to worry about finances when the wait for the new job gets longer. We are ready to help you financially throughout that period.


Many people with poor credit histories struggle to win everyone’s trust. Therefore, they cannot find out a guarantor for themselves. Here in this situation, you still have a chance to get a loan with bad credit and no guarantor.

Yes, possibilities are there to get the loan approval despite no guarantor being there. A guarantor is a person who takes the responsibility of making pending loan repayments, which the primary borrower fails to pay.

Taking someone’s loan guarantee is a huge responsibility. When the main borrower defaults, the guarantor holds the onus of repaying the remaining instalments.

Therefore, it has been found that people often hesitate to take the guarantee of someone with poor credit history. It is where the concept of no guarantor loans for bad credit comes into the picture.

If not the guarantor, you get the loan approval on given below criteria:-
  • Monthly income capacity
  • Recent financial performance
  • Collateral
  • Loan amount

If you are good on these aspects, then you become our pre-qualified borrower to get even 2 year loan with bad credit. In addition, you will have the following benefits to your favour:-

  • You do not have to show your credit report, as we follow no credit check policy to ensure affordable loans only;
  • With no guarantor, you do not need to reveal your financial situation to everyone;
  • We offer flexible repayment terms, which bring a better chance of credit score improvement;
  • People with no credit history can build a positive start of their credit history.
  • The loan aspirants will have fee-free guidance from our loan experts.

What do direct lenders need to grant loans for bad credit people?

There is no doubt that affordability is the crucial factor for loan approval; the lenders still need more from the borrowers because they are on the risky side. To avail bad credit loans online on the instant decision, you need to fulfil these conditions:

  • Proof of Income

    Lenders do require proof of full-time income or other sources of funding. It remains the sole factor in a bad credit loan approval. However, some lenders are also flexible in their approach, and they can accept part-time income or benefits as repayment sources.

  • Proof of Collateral (Optional)

    Some lenders also demand proof of the collateral in case the borrowers need to borrow a large amount of money. However, this demand is flexible and may not apply to those looking for loans for bankrupts in the UK.

Since loans for poor credit are available only for low credit people, the requirements to lend the money to the borrowers are comparatively limited.

What are the benefits of loans with bad credit at 24cashfinances?

If you need to borrow money but struggling with low credit scores, it is essential to know the benefits that you get with the loans. With getting the fee-free advice from our lending experts, you get an idea of what you can gain with bad credit loans from direct lenders in the UK.

24cashfinances provides the significant benefit of EASY LOAN REPAYMENTS. We offer flexible repayments that vary into two categories:

Bad Credit Loans Monthly Repayments

  • Options of both fixed and flexible monthly instalments
  • Automatic payment deduction option
  • Repay monthly instalment up to 60 months
  • 100% Online application facility with no documentation
  • Bad credit monthly repayment loans are suitable for both personal and business purposes.

Bad Credit Loans Pay Weekly Repayments

  • Chance to quickly end the loan term
  • Repay the amount on your next payday
  • Make payment weekly up to 3 months
  • Apply through text or online application and we can provide doorstep service too
  • Bad credit pay weekly loans favour during extreme financial emergencies.

Before applying for bad credit loans, it is essential to check your eligibility for the particular loan deal. We will check your credit scores before approving your loan application, but it will not affect your overall credit profile.

What Challenges are Ahead of applying for Very Bad Credit Loans?

Credit scores are the integral part of the loan process. Traditionally, loan applications are accepted or not accepted based on the borrower’s credit score. People with bad credit scores face a tough situation in the loan marketplace, which has been tougher for those with very poor credit scores.

Yes, finding your name in the category of lowest credit score people is something like a blot to your financial creditworthiness. For the lenders, you are the risky borrowers and may not be eligible to acquire financial assistance.

In such tricky circumstances, very bad credit loans have arrived as the most vital financial help. You should not think that these loans are accessible from traditional lending institutions. They may offer but on the very high-interest rates and with lots of obligations.

You perhaps the best deals on very poor credit loans from the direct lenders. They have accepted a much softer approach to the people with any credit scores. We are also among them and ready to help them financially with bespoke deals on these loans.

Despite the approval chances, you still need to work hard for finding a loan with the adverse credit score. These are the possible challenges that you have to face:-

  • You have to keep your recent credit performance up to the mark, as it will put a good impression on the lender.
  • You have to maintain your efforts in improving the credit scores. However, we deal with a soft credit check approach or sometimes no credit check.
  • You make sure to ask for a smaller amount as it reduces the risk factor. You can also repay it easily with a steady income.
  • You may have to bring a guarantor who should be the person with good credit history and a homeowner.
  • You must not have bankruptcy charges against your name. However, we may accept CCJ in rare cases.

If you go par with these challenges, you will get affordable deals on very bad credit loans.


Do You Offer Bad Credit Loans with No Credit Check?

The Financial Conduct Authority (FCA) does not allow any lender to offer bad credit loans with no credit check. Thus, 24cashfinances does check the credit score of each applicant to provide affordable loans.

Are Loans for bad credit available with no guarantor?

If the recent credit performance is up to the mark and looks satisfactory for us, we do not hesitate to offer bad credit loans with no guarantor needed. The interest rates will be on the higher side, and thus, you should only agree if you can afford those rates.

What is the difference between bad credit loans and very bad credit loans?

In the UK marketplace, both bad credit loans and very bad credit loans from a direct lender are available. The features and benefits vary to each other despite the similarity of higher interest rates.

The bad credit loans are offered to those having scores between 561 and 720. On the other hand, very bad credit loans are accessible for those with 0 - 560 credit scores.

Does 24cashfinance offer unsecured loans with bad credit?

Yes, we do offer unsecured loans for bad credit people for up to £10000. We do not look at your past credit mistakes but prefer your recently improved credit performance to grant the loan approval.

Is there any deal available on bad credit payday loans?

Due to the low credit rating, getting the funds on an emergency seems challenging. 24cashfinances does create the opportunity to apply for payday loans for bad credit from direct lender in the UK. These are small cash loans and can be repaid weekly on the next salary day.

How do Bad Credit Loans work?

Bad credit loans are short-term loans and are available online. These loans work according to the given below steps:-
  • Send an online loan application
  • Lender reviews your credit profile with mandatory credit check
  • If everything works fine, your application receives approval
  • You get the amount on the same day

How long does it take to apply for bad credit loans?

You can apply for bad credit loans in one day or, in fact, within a few minutes. However, you have to approach a direct lender offering loans online. There is always a chance of getting loan approval on the same day.

How much can I borrow?

The maximum amount you can borrow with having bad credit is £10000. If you are applying for business loans with bad credit, this figure may increase by £25000. It largely depends upon the lender to lender.

How does the loan repayment work?

Loan repayments can be made fortnight, weekly or monthly. You can decide according to your income capacity. The best repayment mode for bad credit people is monthly as it gives more time to arrange the instalments.

What if I am not able to pay back the loan on time?

Not paying the loan on time can have two consequences:-
  • Your lender will levy an extra penalty, and the loan becomes costlier
  • Your credit score will be affected, and it may down to very bad credit