Do No Credit Check Loans Exist?
Firstly, loans with no credit checks don’t exist, when searching for no credit check loans you need to be aware that although loans are available for people with bad credit, there will always be a credit and affordability check completed to safeguard you from taking out a loan you cannot afford to repay or that isn’t right for your situation.
Credit checks from lenders and credit card issuers give the possibility of affecting your credit score. If your credit is already not in the best place, the last thing you want is for anything to make it worse. A bad credit loan from us works in your favour. This is because they give you an opportunity to show future credit agencies that you can borrow and repay in full and on time.
Using a Bad Credit Loan
Bad credit loans are of great assistance when minor monetary difficulty comes around. Our loan solutions are currently arranged to help you with short term hardships in your finances. Plus, they’re convenient for avoiding embarrassment as you don’t have to ask anyone but the lender re unanticipated bills and debt consolidation for example. The loans are also handy for covering necessities, essentials and unexpected bills.
How do I Repay My Loan?
Your loan repayments will be agreed and arranged with you during the loan application process. Paying back your loan on time is to your favour as it will show you are in control of your finances and may improve your credit rating. The repayment period varies, for your convenience. which enables you to set it for the best time for you as it can be between one and twelve months.
The interest rates of our loans are dependent on a few factors. The factors contain the borrowing amount you choose and the length of time you need the no credit check loan for. They also include your personal circumstances, along with your financial history.
Getting Your Loan
Applying for our loans is relatively easy. After your personal details, income, expenditure are entered, we’ll review your details using a combination of soft credit search and affordability checks and if we are not able to lend to you ourselves, we send them to our panel. The panel contains the UK’s leading short term lenders, so you’ll receive a decision quickly.
Next, you’ll be directed to the lender’s website to go through the necessary affordability and credit checks, accept the loan and electronically sign the documents. Furthermore, as the process is online instead of through phones that only operate during business hours, we’re available for you to quickly apply 24/7. Moreover, you’ll need to submit a statement of income and expenditure. You may need to present a copy of your ID (driving licence or passport) as well.