Concerned a bad credit score or past finance may affect you when applying for a personal loan?
We know that things don't always go to plan, but we're here to help. As a responsible lender, we listen to your unique loan circumstances and can make lending decisions that are both responsible AND fair for you. Find out more about getting a bad credit personal loan.
Our knowledgeable and friendly staff are here to help and will take the time to understand your current financial situation. From there, our team can establish whether a loan is the best option for you and even help you plan a household budget to make sure you stay on top of your loan repayments.
Understanding your personal loan
As a responsible lending company, we want you to be 100% clear about what you’re signing up for. That’s why we’ve broken down everything you need to know about personal loans right here.
- You can get a personal loan for many reasons, like for a new car, travel, or to consolidate other debt.
- There are some rates and fees attributed to your loan, but we make everything clear so there are no surprises. Play with our loan calculator to find out more, or read up on our Rates & Fees page.
- A secured loan is one where you can provide us with a charge over one or more of your possessions as security. If you can’t keep up with your secured loan repayment, we may consider seizing the security – meaning you could lose your home or any asset used as security.
- An unsecured personal loan is one where you do not provide us with a charge over one or more of your possessions as security. Other common types of unsecured loans include credit cards, student loans, and peer-to-peer loans.
- We’ll use your financial history to determine if you qualify and how much money you can borrow. If you have a good credit score and have kept up with loan repayments (if you took a loan previously), we’d be more likely to approve your loan application. If you’re looking for unsecured personal loans with bad credit, it can be a tougher process to get a loan. You could try applying for a secured loan instead. Or, contact our friendly team at Instant Finance to discuss how we could help if you have a poor credit score.
- Instant Finance offer secured and unsecured personal loans. The type of personal loan would be based on a range of factors, including your circumstances, affordability, security you may be able to provide, credit record and whether you are borrowing responsibly.
- Have a play with our loan calculator to see your repayment amount and the total costs. When you’re ready to take out a personal loan, apply online.
