How long can I borrow £4,000 for?
The lenders on the CashLady panel offer £4,000 loans with repayment terms between 12 and 60 months.
The longer the term, the more time you’ll have to spread the cost; however, if you choose a shorter duration, you will pay less in interest and, of course, clear your borrowing quicker.
What are my chances of getting a £4,000 loan with bad credit?
Several of the lenders on the CashLady panel are willing to consider applications from people with all credit scores, from excellent to poor.
Whatever your credit score, you should always think very carefully before applying for a loan. Loans are serious financial commitments, and you need to ensure that you can afford to make your monthly repayments without this affecting your ability to pay for necessities, such as housing costs, bills and groceries.
Will applying for a £4,000 loan affect my credit score?
Using CashLady to search for a £4,000 loan will not affect your credit score. We use soft search technology, which doesn’t harm your credit score or leave a mark on your credit file. Soft searches are only visible on your credit file to you, and the company who carried out the search.
If we’re successful in finding you a loan and you wish to make a full application with the lender, a hard search will be carried out by them. A hard search will leave a mark on your credit file and will be visible on your report for up to 12 months. Multiple hard searches within a short space of time could result in a decline to your credit score.
What do I need to do to apply to borrow £4,000?
In order to use CashLady to search for a £4,000 loan, you’ll first need to make sure that you meet the eligibility criteria.
You must:
- Be over the age of 18;
- Be a UK resident;
- Have a UK bank account and valid debit card; and
- Have a regular source of income paid directly into your bank account.
How can I use CashLady to search for a £4,000 loan?
- 1. Tell us a little bit about yourself by completing our straightforward online form.
- 2. Using the information you’ve provided, we’ll run a soft search and scan our panel of lenders for a loan to suit you.
- 3. If we find you a loan, you will be redirected to the lender’s website. You can find out more about the loan and decide whether you’d like to go ahead and make a full application.
- 4. Should you choose to proceed, the lender will require some further information to carry out their additional checks, which will include a hard search.
- 5. If the lender is satisfied with the outcome of their checks, they will send you a loan agreement. Before you sign and return, you should make sure that you’re happy with the terms and conditions.
I need £4,000 now; when will my money be sent?
Your £4,000 loan could be sent the same day your application is approved, although the time it takes for the funds to become available in your account will depend on your bank’s policies and procedures.
Please note that payout timescales vary between lenders.
I’ve taken out a £4,000 loan, but can no longer afford my repayments; what should I do?
Making late repayments or missing them altogether could result in late fees and additional charges. Your credit score will also be harmed.
If you’re struggling to make your monthly repayments, you should contact your lender as soon as possible. This may feel nerve-wracking, but please try not to worry. Your lender will appreciate the fact that you’ve reached out and explained your situation, rather than just missing repayments. They will work with you to find a solution moving forwards.
I’m worried about money; where can I find advice?
Money worries can leave us feeling anxious and overwhelmed. Whatever you’re facing, it’s important to remember that you’re not alone. Help is always available; even if you don’t feel like talking to anybody just yet you can always access online resources. Charities and organisations such as StepChange, MoneyHelper, Citizens Advice, and National Debtline offer a wide range of information and advice on debt and money management.