Payday loans – no credit checks
From broken boilers and broken down cars to a delayed pay cheque or unexpected utility bill, life’s little emergencies don’t discriminate when it comes to your credit score.
Finding personal loans without credit checks isn’t easy and the vast majority of lenders will use some form of credit scoring when it comes to your payday loan application. However, there are different types of borrowing options which can be used to increase your chances of acceptance.
First things first, let’s take a quick look at exactly what credit checks are.
What are credit checks?
Credit checks are carried out by lenders to give them a snapshot of your overall ability to manage credit. They’re not only used to take a look at your existing lines of credit, but to confirm personal details such as your name, date of birth and address.
There’s a common misconception that only those with a less than perfect credit history can be affected by payday loans credit checks. In fact, those with no or very little credit history can also be at a disadvantage if they apply through a lender that heavily favour credit scoring as part of the application process.
Can I get payday loans with no credit checks?
Most lenders use credit checks as part of their risk assessment process. Finding short-term loans without credit checks is almost impossible in today’s lending climate.
All FCA authorised lenders have agreed to lend responsibly, this means that they will complete the necessary checks to reasonably ensure that you can afford the repayments and that taking out the loan in the first place doesn’t put you in a worsened position financially.
This means they will always have to do credit checks on you for any loan application, but don’t despair, not all lenders see you just as a credit score number, they’ll take into account what you financial situation is now, not just from the past.
They’ll look at if your repayment habits have improved or if your overall debt balance is reducing and make a decision based on the whole picture, not just that score.
So if you are looking for a Payday Loan with No Credit Checks, simply complete our short online application form and we’ll match you with lenders who are ready to say yes