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Bad Credit Payday Loans

If you suffer from a poor credit history and need a small, short term loan, your options may be limited.

Every day, thousands of people search the internet for short term credit solutions designed for people with an adverse credit history.

Cashlady speaking to people on the street regarding financial emergencies
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serious money problems. For help, go to moneyadviceservice.org.uk

Representative Example: Amount borrowed: £250 for 3 months. Number of repayments: 3. Interest rate p/a: 292% (fixed). Each repayment amount: £137.21. Total repayable: £411.63. APR 1272% Representative

The first question you should ask when considering any form of credit is: "Can I afford to repay my borrowing in full and on time?"

Loans designed for people with less than perfect credit scores often have high interest rates, which need to be carefully considered.

If you need a bad credit payday loan today, you can apply with CashLady, using our secure online application form. Our aim is to help you get a loan with the best APR possible.

What is a bad credit payday loan?

A bad credit payday loan is a small, short term loan designed to help customers overcome unexpected financial emergencies.

The interest rates charged on a bad credit payday loan can differ from lender to lender but the FCA caps on fees and charges by HCSTC providers always apply. These caps mean you should never pay more than £24 per month for every £100 borrowed and never more than double the original amount borrowed.

People with an adverse credit history can still be eligible for a bad credit payday loans

Small bad credit loans are designed to meet urgent cash needs. They are one of the few short-term loan products available to people with an adverse credit history.

If you take out any form of short term credit, It is critical that you always borrow within your means and repay your loan commitments on time.

What is bad credit?

Bad Credit is a term often used to describe the financial situation of somebody with a history of poor financial management or circumstances. People who have an adverse credit score are likely to have missed credit obligations (such as a loan, utility bill, or credit card)

Essentially bad or ‘adverse’ credit is the main reason why some borrowers find it difficult to obtain finance.

By definition, bad credit is an indication that suggests one borrower is riskier than another.

People with an adverse credit history can still be eligible for a small bad credit payday loans

Although a poor credit score could be the result of financial mistakes made in the past, it can also be the result of not having any borrowing history. Either way, a history of bad credit can often be an obstacle to obtaining a personal loan.

Bad credit loans - direct lender?

Any form of personal borrowing should be approved and issued from an FCA authorised direct lender. A bad credit loan product is no different. As a customer you have the option of making your loan application direct or through a credit broker like CashLady. .

If you are confident about your credit score and believe you should be approved by most bad credit loan providers, you may find it useful to compare the various options.

Fortunately, most direct lenders provide 3rd party customer reviews to help you make an informed decision.

One of the main advantages of applying with CashLady is that we scan the market (as we know it) prioritizing the lender that will give you the best deal in terms of APR and acceptance rates. You therefore have a better chance of finding a loan and getting a lower APR in the process when you apply through us.

Below is a list of the bad credit loan partners we actively work with, sorted by APR%. All are established FCA regulated lenders for your peace of mind:

Lender Rep APR
Guarantormyloan 48.9%
Safety Net Credit 68.70%
118 Money 99.90%
Satsuma 535%
MyJar 788%
Cashfloat 997%
Uncle Buck 1250.4%
Mr Lender 1256.4%
Ferratum 1270%
Wageday Advance 1281.8%
Sunny 1293%
Quick Quid 1294.1%
SwiftSterling 1298%
Lending Stream 1333%


watch the video understand badcredit payday loans


How can CashLady help me?

At CashLady we have a dedicated panel of FCA approved short-term credit providers. Many of our lenders may be able to lend you funds in an emergency, even if you have a poor credit history.

Applying for a payday loan with CashLady.com, even if you have bad credit, is completely free of charge. We will never charge you a fee for using our service.

When you apply for a loan with CashLady it means your application will be instantly seen by our panel of trusted lenders. As a borrower, this can mean more credit options and importantly, a higher chance of your loan application being approved.

Since 2007, We have helped more than 3 million people apply for short term loans. Today we are proud to serve many thousands of customers applying for short term credit.


Bad credit loans are often needed for financial emergencies like a car breakdown.

Please be aware that not everybody who applies for a loan with bad credit in the UK will be accepted.

As with any type of personal loan, responsible borrowing is important. You must be able to repay your loan commitments in full and on time. Doing so will help you avoid building up a cycle of debt, sometimes referred to as a spiral of debt or a debt trap.


What are the advantages of bad credit payday loans?

CashLady showing advantages of bad credit short term loans

  • Payday loans for bad credit are often available when you cannot get help elsewhere. They could be the difference between losing use of your car and being able pay for those emergency repairs.

  • The application process is relatively non-intrusive

  • Payday loans are unsecured loans. This means if you miss a payment you won’t risk losing a valuable possession, although there could be other financial consequences.

  • Applications can be completed online for speed and efficiency.

  • With some personal loans, you are tied into repayments for months (and even years). With a payday loan, your commitment will be over as soon as your short-term loan is repaid. You won’t have an ongoing commitment to pay back what you owe over many months.

  • Payday loans are for relatively small amounts of money. This keeps the cost of borrowing to a minimum.


What are the disadvantages of a payday loan for bad credit?

Two people discussing the risks of taking a bad credit payday loan in the UK

  • Our top ‘advantage’ also features here. Payday loan are often available to consumers that might have applications rejected elsewhere. This can make a loan tempting in non-emergency situations. It would be wrong to treat them as a handy alternative to a traditional long-term loan.

  • Payday loans usually come with a higher APR than other types of personal finance. There are now restrictions and price caps in place to protect consumers, but it is always wise to be aware of exactly how much you’ll be paying in total.

  • The definition of a ‘payday loan’ states that it should be there to bridge the gap between your next pay cheque. As a result, you won’t have long to pay back what you owe which can sometimes create a problem.


Frequently asked questions

  • Will a poor credit history affect my chances of obtaining a payday loan?
    The answer in most cases is ‘yes’. But it does not mean your loan application will fail. This is where we can help because we submit your application to many lenders. Affordability will be based on your current financial circumstances and behaviour. It is also one of the best reasons to use a licenced credit broker. An FCA authorised short term credit broker (like us) could give you with a better chance of obtaining the finance you need. Especially if your credit rating is a concern.

    Woman explains the importance of personal credit history in lending decisions

  • Does it matter how bad my credit is?
    Your unique credit score will be an important factor in lending decisions. If your credit score is particularly low, it may prevent you from obtaining any kind of finance. This is because lenders assess the risks associated with providing money. If you have a long history of missed payments, it could be a preventative indicator. To get a better understanding of your credit report why not try a free credit reporting website such as noddle. The better your credit score, the better your chances are.

  • Does taking out a payday loan imply bad credit?
    Not necessarily, although we do find they are often applied for by to those with lower credit ratings. Most lenders will take this into consideration.

You can read more on how to avoid bad credit in the UK and our special guide about what is your credit score.

If you want more information about how to rebuild your credit rating, we created a serieswhich should give you plenty of useful information.

Will applying for a bad credit loan, affect my credit rating?

Applications for loans, whether they are accepted or rejected, will normally require a formal credit check before approval. Doing so will leave a footprint on your credit file. If you already have an adverse credit history, further credit searches could make your situation even worse. Multiple footprints on a credit file can indicate to lenders that you are unable to manage your finances effectively.

Making multiple loan applications in quick succession can damage your credit file. It is recommended that you don’t move on from one lender to another.

If you are declined by one lender after they have performed a hard credit search, it may be worth waiting a 14 days before you re-apply with another provider. This is because the next lender will be able to see your most recent application and successive loan applications may give a negative impression.

CashLady explaining how multiple loan applications can damage your credit file


Will my payday loan application be approved even if I have bad credit?

Bad credit payday loan approvals depend very much on specific circumstances.

Any provider of bad credit finance has to make sure that the loan is affordable to you. They will look at your earnings and subtracts all your expenses. These include rent/mortgage, utilities, transport, food, credit expenses. Also, any other recurring expense. The amount remaining needs to be enough for you to be able to repay your loan.

There are still many loan companies that mention high acceptance rates in their advertising. They do so to appeal to borrowers with poor credit ratings. Strict regulations from the FCA are in place to protect customers from irresponsible lending.

Alternatives to bad credit payday loans


If you are looking for other options to a payday finance, our suggestions include guarantor loans, peer to peer loans and credit unions. Eligibility depends on your credit score.

To discover more about guarantor loans, read our in depth series for Guarantor Loans.

For a complete list of alternatives – see our guide to Payday Loan Alternatives.

CashLady sitting on a bench showing alternatives for payday loans with bad credit

Could a payday loan for people with adverse credit help?

Short term finance solutions for people with less than perfect credit histories can come in useful. Some creditors may be able accept applications depending on many considerations. They key factor is your ability to repay the loan.

Even if you’ve made mistakes with your finances in the past you might still be a good match for payday loan products. We work with lenders that will consider your loan application based on many factors.

It’s important to note that payday loans are designed to be responsibly borrowed and repaid. This is why you must be employed to get one.


Summary: Bad Credit Payday Loans


If you need to borrow money for any reason, but find yourself unable to access more mainstream finance options, due to a poor credit history, a small bad credit payday loan can be very useful.

If you are able to pay back your loan repayments each month, you may start to see your credit score rise. This could mean access to better loan offers in the future (with more competitive APR’s) and access to more mainstream credit products.

Youtube Video about badcredit paydayloans

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Representative 1272% APR
Representative Example
Amount borrowed: £250 for 3 months
Number of repayments: 3
Interest rate p/a: 292% (fixed)
Each repayment amount: £137.21
Total amount repayable: £411.63
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CashLady.com is a credit brokerage website owned and operated by Money Gap Limited. We are not a lender and do not provide credit to consumers. If you make an application through this site it will be shown to a selection of UK based lending partners for careful consideration. Applicants must be 18 years or over and approval is subject to status. We will never charge a fee for our service, but do receive a commission from lenders following successful introductions originating from this website. Any information we provide is for the strict purpose of illustrating the lending process only and does not constitute any form or financial or legal advice.

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