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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.

What are the Top Payday Loans in the UK?

The top payday loans in the UK can help you obtain instant funding without much stress and hassle. The loans are short-term, personal loans which basically work like a cash advance on your salary. And because they are essentially personal loans, you don’t need to offer any kind of asset or collateral to become approved.

Payday loans however, are unique from conventional personal loans in a way that you don’t need to have a particularly good credit rating to qualify. In fact, you can even apply for the best payday loans for bad credit no matter how abysmal your current credit score and history is and still get approved so long as you have a stable source of income that can afford the loan and the agreed repayments.

In essence, payday loans are designed to provide temporary financial relief to borrowers who are caught up in unforeseen costs like car repairs and emergency medical bills and those who find themselves short of cash to survive until payday. To enjoy the top payday loans in the UK that provides the best deals for the right price, consider these important points:

1.) Attached Fees and charges

Even the most trusted payday loans online generally have attached fees and charges in their loan products and services and this is something that you need to expect right from the start. Now the more the fees and charges and the bigger they are, the more costly your credit agreement would be so be sure to carefully review the fine print before making an application for a potential payday loan deal.

why choose top payday loans

To enjoy the top payday loans and deals available, obtain as much quotes as you can from the best payday loans direct lender and try to find out if there are extra fees that you will need to cover which may include:

  • Processing fee – There are generally extra fees involve in processing payday loans which basically serves as payment for the necessary paperwork and documentation that the lender will do for you so your loan transaction can be completed in the quickest time possible. If you want to avail for the best online payday loans instant approval, the extra fees may be higher than a standard payday loan.


  • Late payment charges – There are normally fees or charges for late payments and the terms and conditions for this policy are highlighted in your contract. The top payday loans still follow the same rule but for a reasonably low amount. There are even reputable lenders who are lenient enough to pardon a late payment without any charge whatsoever.


  • Interest Rates –The top payday loans will always tell you upfront what the total cost of your loan deal will prior to entering into a credit agreement. Also, it’s worth mentioning that there are plenty of affordable payday loans at reasonable rates in the market today and you can easily find them online through a quick search in Google.

2.) Qualifying for the top payday loans

Fortunately, qualifying for the top payday loans is relatively easy and there are only a few basic requirements that you will need to meet to become accepted. Having a good credit rating is not important and the best payday loans no credit check online won’t even bother looking at your credit history.

Below are the usual requirements in taking out top payday loans:

  • Reliable source of income – You will need to have a steady source of income like a salary to become approved for payday loans which means being employed is a must. The top payday loans however, will still consider your application even if you are self-employed and unemployed so long as they see that your present income is viable for the loan.


  • Bank Account – The most trusted payday loans online will be the one to electronically transfer the approved funds to your bank account. And to ensure that you won’t miss out on your payments and incur possible penalties and blemishes to your credit history as well, they will be the one to automatically deduct the agreed payments from your bank account.


  • Verifiable address – So you can avail the most affordable loans loan at reasonable rates, you will need to present a verifiable address in your application. You can easily go about this by providing a recent utility bill or registering on the electoral poll.

3.) Borrowing amount

The top payday loans will allow you to access borrowing amounts anywhere from £100 – £2,000 depending on your needs and present circumstances. Normally however, the amount that you can qualify for will depend entirely on your financing situation. The best payday loans direct lender will always take into account your present monthly earnings and outgoings to determine the maximum borrowing amount that is ideal to your finances. You will never be approved for a credit agreement that is too hard to maintain or payoff.

4.) Loan term

Payday loans are generally designed for emergency funding which means that borrowers can secure extra cash quickly but are also required to pay back the money that was lent to them plus interest rate in a short period of time. The payment period will differ from lender to lender but the top payday loans often provide payment terms that are perfectly suited to your financial circumstances.

Normally, you will need to pay back the entire money that you borrowed and its interest rates within 30 days or in your next payday in many instances. However, the most trusted payday loans online will always consider your present financial circumstances to determine the ideal payment term that is best suited to your monthly earnings and outgoings.

In fact, some of the top payday loans in the market can give you the flexibility to pay back your loan for a number of months through monthly instalment payments if this is something that suites your finances better. So if you borrowed £1,000 for instance, the lender can give you the freedom to pay 1/3 of the loan every month for three months plus interest rates. There are also plenty of reputable lenders that allow you to make advance payments on your loan without any fee or charge so you can clear off your debt earlier and save money on a lesser interest rate payment as a result.

why choose top payday loans

The Lenders List

Loan amount
£100 - £3,600
Loan term
3 - 12 Months
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Loan amount
£100 - £5,000
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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
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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

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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

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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:
Loanora is NOT a lender – we are a licensed broker working with the most popular direct lenders in the market to find you the most suitable short-term loan plan. Our FREE quoting service compares more than 40 lenders quickly and finds you a lender with the lowest rate that they are willing to lend to you today.

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