Will a Bad Credit History Impact Me When I Apply for Emergency Loans?

Although emergency lenders, including online direct lenders in the UK, don’t place as much emphasis on credit checks as traditional lenders do, a borrower’s credit score will be a factor in the lending decision. Emergency lenders providing payday loans, understand borrowers may have had difficulties in the past and will work with them to overcome those past credit problems whenever possible. Emergency lenders evaluate each client individually and take a number of factors into consideration when deciding whether to offer payday loans to applicants.

It’s always important to protect your credit rating as much as possible. That means it may make sense to take a short-term emergency loan to cover a bill that will leave you with a bad credit score if it remains unpaid. Tight financial situations have their way of catching up with everyone at some point. If a short-term loan could protect your credit score from damage, it may be worth considering applying for emergency cash.

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Representative Example: Borrow £400 for 4 months: 3 monthly repayments of £156.09 followed by a final repayment of £156.07. Total repayment £624.34. Interest rate p.a. (fixed) 288.35%. Representative APR 1,267.9%. 

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