Short Term Loans Bad Credit
Money issues aren’t anything new, they tend to show up unexpectedly and disrupt us. Even when we have a solid plan for how to manoeuvre our finances until our wages arrive. If this occurs and credit is an easy and accessible option, the adversity can be a harder blow. When traditional credit types are out of reach to you, our short term loans bad credit can provide the breathing room you need. Plus with PM Loans, you won’t have the annoyance of upfront costs, as we don’t charge them.
What are the eligibility requirements?
Being eligible for short term loans bad credit it easy, to progress just meet our eligibility criteria. Here’s our clear and concise eligibility criterion.
You meet the criteria if:
- Are aged 18 or over
- Reside in the United Kingdom
- Are in employment (however, in some circumstances other forms of income may be considered)
- Are able to meet the affordability checks which we and our lenders request
Is PM Loans FCA Regulated?
The FCA regulates PM Loans. For those who aren’t aware, the FCA is the Financial Conduct Authority. FCA regulations have put a price cap on the highest amount a customer should payback. As of January 2015, customers should never have to repay more than double of the original borrowed loan amount.
How to advance your credit
Enhancing your credit score can be done by methods such as being registered on the electoral roll and making sure repayment is made on time. Developing your credit can be essential to making your financial life more effective as controlling and managing money becomes easier. View these reasons for why a good credit score can hugely benefit you:
- Your credit limits increase. Because you demonstrate that you can repay what you’ve borrowed on time, banks will be willing to allow you to borrow higher amounts of money.
- Increased negotiating influence. Having a good credit score provides you leverage to negotiate a lower interest rate on a new loan or credit card
- Better car insurance rates. Auto insurers tend to use a bad credit score against customers. Insurance companies believe that those with a bad credit file tend to file more claims. Having a good credit score allows to fork out less money on your car insurance.
- Access to more offers. Having a higher credit score means enhanced chances of approval.
Find out more on bettering your credit score from the Money Advice Service.
Why choose PM Loans?
Selecting PM Loans for short term loans bad credit is better for you as we’re not just a direct lender but a broker too. As a consequence, you get to reach to a diverse and wide variety of different lenders and products. Accordingly, sourcing the ideal loan product fits both your needs and situation.