direct to you!
Loan Direct Can Help you
To Get a Loan
Loan Direct provides loans to people with a poor credit history, helping them access cash loans quickly and affordably. There isn’t a lending situation we haven’t encountered before and we can find solutions for most.
There are many reasons why people end up with a bad credit score, and sometimes it’s not entirely their fault. They may have lost their job, became ill and were unable to work, faced unexpected expenses, acted as a guarantor for someone who defaulted on payments and so on.
Life is unpredictable and when you find yourself in a spot of trouble, it helps to have a loan company that will listen to you without judgement. If you can provide a reasonable explanation for your credit history, we’ll do everything we can to get your personal loan approved.
How Do You Choose a
Bad Credit Loan Company?
The most important thing to know when choosing a finance company for a bad credit loan is that there are two types of lenders:
1. High-cost lenders
2. Low-cost lenders
Sadly, many people think that if they have a bad credit history, High-cost Lenders are their only option. But these types of loans attract high fees, interest rates of over 50% per annum and have shorter repayment periods. In times of stress, the last thing you need is to put yourself under more pressure.
By taking on a high-cost loan, you’re more likely not to be able to meet your repayments, and so your credit score will decline even further.
Can You Get a Small Loan
With Bad Credit?
What Is The Lending Criteria For
A Bad Credit Loan?
We look at three key factors when making application decisions:
- Affordability – can you meet your monthly loan payments?
- Regular income – is income going into your bank account each month?
- Equity – is a loan with collateral the best option for you? Not always, but in some cases we’ll require some form of security. Secured or equity loans are a valid loan option if you’re falling short of meeting our lending criteria.