Payday Loan Bad Credit Lenders

Thousands of people are searching the internet each day for ‘payday loan bad credit lenders’ to help them overcome short term loan financial challenges. But if you are looking for a bad credit loan and want more information before you submit an online loan application, BingoLoans has you covered.

What are Payday Loan Bad Credit Lenders?

In short, payday loan bad credit lenders are short term loans designed to help customers with a poor credit history overcome unexpected financial emergencies. This means that lenders will be open to accepting loan applications from those with a not so perfect credit score.

Any form of personal borrowing should be approved and issued from an FCA authorised direct lender.

Will my Payday Loan application be approved if I have bad credit?

Payday loan approvals depend very much on specific circumstances. Any provider of short term finance has to make sure that the loan is affordable. They will look at your earnings and subtract all your expenses. These include:

  • Rent/mortgage
  • Utilities
  • Transport
  • Food
  • Any other recurring expense

The amount remaining needs to be enough for you to be able to repay your loan commitments each month.

Improving your credit score is vital

No matter, if any lender says that they are open to accepting applications for those with a poor credit score, you should try and improve your credit score as much as possible. So this should be your first priority. This means evaluating your existing lines of credit, making a plan to repay them on time, even considering debt consolidation. Reducing debt may not build your credit as quickly or efficiently as you would like, but getting back to zero means patience.

How can BingoLoans help?

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

When searching for a loan, choosing a direct lender or broker may seem like a difficult choice. At BingoLoans, we’re able to give you the best of both worlds being both a direct lender and a broker. This means that either ourselves or one of our panel of lenders will be with you throughout your loan journey.

If you’re considering taking out a short term loan, be sure to apply now or begin using our loan calculator today.