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Which payday loan is best for
people with bad credit?

Which payday loan is best for people with bad credit?

How Much Cash Do You Need?

 

Get Money Quickly when You Need It
When you have to have funds, you don’t want anything to stand in your way. Your bank may want to run a credit check on you and make lending into a long, drawn out process. You may not have time for that. Getting the funds together on your own may not be an option. You have a looming bill, and it needs to be paid right away. How do you get the funds for that?
It’s easy. Just apply for the loan you need through Power Funder. We make lending so easy that anyone can do it, no matter what their credit or financial situation is like.

How to Get Paid
Once the lender the loan comes from approves you for the loan, you can have your money deposited directly to your banking account in the next day or so. It can take from 1-3 days for the money to transfer. Once it does, you can start using it immediately.

Who Qualifies?
Almost everyone who applies for one of the loans offered by our many lenders is approved for at least one loan. You may not have a lot of options if you have made some serious financial mistakes in the past, but we will try to ensure you qualify for a loan that is close to what you are looking for. The better your financial situation, the more likely you are to qualify for the loan you want. That’s because lenders are looking for people who aren’t risky for them. They want people who are likely to pay them back on time, and when they take a look at your finances, they will determine if that applies to you.

How to Repay the Loan
The lender will make repayment arrangements with you. You will be responsible for sticking to the arrangements and repaying the loan in full, including any interest and fees accrued. If you pay late, then additional fees and interest may be added, increasing the cost of the loan. Be sure you make all payments on time and notify your lender if you are having problems doing so.

Single Parent Loan

Raising kids all by yourself whether as a single mother or father is already a huge challenge, but when unforeseen circumstances come your way, you’ll definitely get a headache. Every parent often worry about having enough money for food, clothes, and entertainment for their kids, on top of the usual monthly expenses such as rent and utility bills. When you’re a single parent who is a bit tight on the budget, you can sometimes feel as though you’re facing a dead end with no one else to turn to. However, this is not true because there are still options for you. You’ll find many solutions to your problems if you’ve found yourself stuck in this situation, and one of these is the single parent loan.

What is a single parent loan?

A single parent loan usually comes in a form of payday loans or quick cash loans. They are one of the fastest ways to get the money you need for any necessities at hand. You may need money for medical or dental bills, groceries, clothes, urgent trips, unplanned events, repairs, and so on. A single parent loan is most helpful to you especially when you are short on savings or have no emergency savings at all. why choose single parent loan It’s not a surprise for families to run out of money unexpectedly due to unforeseen circumstances. For single mothers and fathers who have poor credit scores but need immediate cash, you can count on single parent loans. The eligibility criteria for a single parent loans is basic. You must have an income, a UK resident, must present proper identification, must have appropriate address, and must have a bank account. As a single parent, you can borrow small amounts of cash from payday lenders. The amount you can borrow can start from as low as £100 and can go up to £2,000. As the loan term, lenders can give you three to twelve months for repayment. However, if you want to settle it the soonest, some lenders would ask you to repay it in two weeks or when your next paycheck arrives, making a one-time lump sum payment. Note that a single parent loan is inherently more expensive than other credit options. This is due to the high risk involved and the fast, easy, and convenience it provides to consumers. The good news is that this type of loan is unsecured and short-term. Meaning, you don’t have to put up an asset as a collateral to get a loan approval. These loans can be settled in a short period, which means you can easily be free from the debt. A single parent loan is just as safe as any traditional loan. It is important to keep in mind though that single parent loans are not designed to provide for you over long terms. Hence, take out a single parent loan only when you are left with no alternatives. By paying them back on the agreed date, you can ensure that you do not incur heavy interest or additional fees on your loan.

For Low-income or Unemployed Single Parents

For single parents with low income, there are sources of additional income like financial aid, pension and benefits. Considering these other alternatives might actually be a better option for some single parents, but you can still apply for a payday loan. just be certain that you can make the repayments comfortably. Payday loans for single parents are fast and easy to apply. No excessive paperwork is needed. They’re user-friendly terms and conditions, and have simple online application that is safe and secure. With a single parent loan in the form of payday loan, you can take care of unexpected emergency expenses, look after various unforeseen needs around your house or simply manage expenses until your next paycheck comes.

Taking out a Single Parent Loan

Most lenders of single parent loans operate online. You just fill out the application form on the lender’s website. As soon as you submit your application, the lender will review and process it. You will get to know about whether your application was accepted or rejected within minutes from submitting. Approved loan applications are further processed quickly, and the funds are transferred to your bank account at once, typically within the day. A single parent loan can affect your credit score in a positive or negative way as well. Every loan application you make that involves a credit check will be recorded on your application. This can influence your credit score and assessment of your credit history by future creditors. If you pay your loan dues on time, it can boost your credit score and will eventually improve your credit history. If you regularly miss payments, default on your loans or keep rescheduling them, it will have a negative impact your credit score and credit history.

For Single Parents with Bad Credit

The credit score is not solely the basis for loan approvals. So, if you have a bad credit history, there is still hope for you. Many payday lenders accept loan applications from single mothers and fathers even if they have bad credit. What these lenders are looking for is for you to have regular employment or sort of income. Other requirements are general.

Conclusion

Being a single parent is no joke at all. It’s even a lot harder if you have a low income, and then come emergency expenses. Generally, a single parent is juggling family life with a low-income job or financial assistance through the government. Should times get tough, don’t panic. There is help out there for you. You might need immediate cash for unexpected expense such as a broken-down car, a medical costs or a high utility bill that will blow your budget completely out. This is where a single parent loan could help you. You can access a single parent loan from online lenders or payday loan lenders. They’re easy and quick to obtain. However, note that a single parent loan has a much higher interest rate compared to other traditional loans. It is important that you make sure you can afford to make the repayments on schedule to avoid further financial trouble. why choose single parent loan

The Lenders List

Loan amount
£100 - £3,600
Loan term
3 - 12 Months
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Loan amount
£100 - £5,000
Loan term
1 -12 Months
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5 most recent personal loan reviews

Review of Police Credit Union

Since the very start coming to PCU back in June 2016 I have been 100% happy with the way the whole staff have looked after me and helped to make my future a lot happier for myself and family thank you PCU.

Review posted by David Green

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of AA

I have used the AA twice now and on both occasions they were extremely helpful and courteous to deal with. I would certainly not hesitate in recommending them to anyone.

Review posted by Patricia Greaves, Warrington

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Future Finance

My daughter applied for a loan with me as her guarantor. I only got a call to confirm a few details on the application form and money was in my account within 24 hours. Fantastic service and would recommend Future Finance loans to anyone refused a loan by the high street banks. Thanks for taking the financial stress from my daughter.

Review posted by Freda Humphries, Maidstone

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

To guarantee authentic and unbiased reviews we have used Trust Pilot.

Representative Example:
305.9% APR. £400 borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% (variable)

Please note:
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Rates from 45.3% APR to 1575% APR – we provide a no obligation quote, your APR will be based on your personal circumstances