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bank loans bad credit

What Are Bad Credit Loans?

The first priority for any potential borrower should be improving their credit. 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 creating a foundation to rebuild your credit upon, and that should be your top priority.

Getting a payday loan with Swift Money is easy. Just apply online, providing details of your income and expenses, submit your application, check your email and receive money in your bank account! It doesn’t get any easier than that and it’s the same simple process even if you have bad credit, because we don’t use your credit score or credit history as criteria for deciding whether to grant your loan, or what kind of interest rate to charge you.

The answer in most cases is yes’. But it does not mean your loan application will fail. This is where we can help because we submit your application to many lenders. Affordability will be based on your current financial circumstances and behaviour. It is also one of the best reasons to use a licenced credit broker. An FCA authorised short term credit broker (like us) could give you with a better chance of obtaining the finance you need. Especially if your credit rating is a concern.

There are many kinds of lending here we’re focusing on the pay day type. These are short duration that have benefits and disadvantages. Regarding the bad, they are made at high interest and include fees which are extremely high. This is not the bank loans bad credit avenue you wish to take unless there is a good reason, as in you can’t get by without it. Even after applying for one, you should be thinking about the steps you’ll take in order to not repeat the mistake of needing to borrow at such high interest.