It’s possible to be unprepared for the unexpected. Sometimes, you don’t have enough cash to pay unexpected bills or take care of emergencies. What when you think “I need a small loan”. A small loan for bad credit can be a great option because it doesn’t require you to fill out all the paperwork required by a traditional payday lender.
What if your credit score is not good? You can still get the money you need, but don’t panic. LoanPig understands that you are human. We may have the right solution for you, whether it’s a payday loan or consolidation.
What Is Considered Poor Or Bad Credit?
Credit is the measure of how to trust lenders and merchants have in you to pay off financial obligations on time. Poor credit means that you’ve struggled to make timely payments or have had financial problems. This can impact your ability to get additional credit.
If I Have Poor Credit, Can I Still Be Approved For A Small Loan?
LoanPig has helped many people with bad credit get loans. This is because we use more credit scores than the standard rating. A credit rating does not tell the whole story. There may be many reasons why you have missed payments or been late on a payment. Even if you have a steady income, it is possible that you don’t have enough money in case of an emergency.
The online application takes only a few minutes and you’ll receive an immediate decision. You may receive funds as soon as a few hours after you have been approved for a loan.
What Can I Do If I Have Bad Credit?
When you need money to pay your bills, bridge the gap between your next paycheck, deal with emergencies, or get out of a bind, small loans for poor credit are a great option. Although you may have thought of a payday loan as an option, we are a better choice.
Our interest rates and fees are clearly stated. No hidden fees will surprise you.
You always know exactly how much you have to pay and when it is due.
We believe that you will agree with us that we offer a better way to help you get small personal loans for bad credit.
Strict Caps In Place
A total cap was also established by the FCA. This means that consumers will not have to repay more than twice what they borrowed.
Overdrafts, however, are not subject to these same restrictions. Overdrafts can cost you more than the original amount until they are paid in full. Unauthorised borrowing can be more expensive than authorised overdrafts. Banks may charge additional fees for these unauthorised borrowings.
Controlled By The Borrower
You can choose how much money you want to borrow and what repayment terms you would like when you apply for credit.
If your loan lasts for more than one month, you will receive clear information on the total repayment amount and any monthly instalments. You will also be given details about your repayment dates.
To tailor your financing, you can adjust the amount of the loan or the term.
It is a good idea to only borrow the amount you need. Borrowing too much can lead to additional expenses, which could cause financial difficulties. Borrowing too little will result in you paying unnecessary interest on the money you don’t need.
Most lenders will let you repay your loan early if you borrow more than you need.