Can I use short term instalment loans with bad credit?

Trying to secure a loan when you have bad credit can present a real challenge, but it is possible. Short term instalment loans may well be the answer to your credit-seeking woes. These loans are a helpful financial solution for people who may or may not have poor credit, in need of funds for planned expenses.

Perhaps your four-legged friend is in need of a costly operation and you don’t have pet insurance, or perhaps you even have a little one on the way and your home requires some urgent updates. If you can’t find finance from any of the regular sources (loan companies, credit card providers etc.) it may be time to consider an alternative source of short term finance.


Instalment loans could be the solution for people all over the country struggling to find manageable finance options in the face of a less-than-ideal credit report. This is a relatively new short term financial product in the UK, helping to reduce the amount of worry that people face when they are struggling with a poor credit score.

Many of these loan providers won’t look into your credit report (these are notoriously unreliable anyway), they are just interested in whether or not you will be able to pay back the money they lend you. Convince them that you will hold good on your loan and you will enjoy flexible, fuss-free finance. Repeat responsible borrowers may even benefit from special rates and capacities, whatever their credit score may be.

Short term instalment loans are more likely to provide you with the finances you require than payday loans as they require several smaller payments rather than one lump sum figure. This makes the loans much more manageable and helps to reduce the stress of the financial burden.

Can anyone apply?

Anybody can apply for a short term instalment loans, of course there are certain restrictions that loan providers will enforce. Most providers will grant loans to people who are over 18 years of age, have a regular income, are not in a debt management plan and a had valid debit card.

If you’ve had trouble with poor credit in the past then many loan providers will take it into account, but this doesn’t mean that you will be turned down – it isn’t necessarily a barrier to using instalment loan products.

What are short term instalment loans for?

These type of loans are not designed to help repay or manage any of your existing debt, they should be used to cover the cost of any unexpected or urgent financial needs. The money you receive is designed to be used for ‘planned emergency expenses’ – mid-term costs like much-needed home repairs or veterinary bills.

How fast can I get the money?

Most short term instalment loan providers work speedily and some can even have the money in your bank on the same day, provided you apply before a certain time. With easy sign up via the internet this process has become even more streamlined, making getting instalment loans fuss-free and comparatively fast.

Lend UK take a responsible stance with the aim of being transparent and delivering fair lending. They provide instalment loans with consideration of individual circumstances rather than basing the decision on credit scores. They offer several loans to meet all needs; available from £80-£500 for new customers and up to £1,000 for returning customers with repayment periods of 4, 6 and 12 months.

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