How long do I have to pay the money back?
We understand that many people struggle with a bad credit score or less than perfect financial history, and we don’t believe that you should be penalised too severely for mistakes made in the past.
If you have bad credit, it doesn’t necessarily mean that you won’t be able to get a loan when you need one. We work with a panel of UK lenders, many of whom deal with bad credit lending on a regular basis. What’s important is whether the loan that you have applied for is realistically affordable given your current situation.
To this end, our site hosts a quick affordability assessment, which will help you to decide whether a loan is a right move for you. If you can afford to repay what you owe each month and won’t be leaving yourself without some money left over, you may well qualify for a loan even with bad credit.
How long you have to repay will depend on the amount you have borrowed, with the lenders on the Little Loans panel allowing you to apply for between ?100 and ?10,000 with repayment terms ranging between 3 and 60 months.
Ultimately, you can choose a repayment term that suits you and that will realistically allow you to make repayments on time without getting into further money troubles. If you borrow ?1,000, for example, you can choose a repayment term of 3, 6, 12, 18, 24, or even 36 months. It’s all about what works for you.
Can I still apply if I’m on benefits?
Emergency costs don’t discriminate, and we know that people who receive benefits still need to borrow money from time to time. What matters is that you have a steady income that will give lenders the comfort they need to know that the money they offer will be repaid.
Some of the lenders on our panel are happy to accept certain benefits as a form of regular income, and so you may be eligible even if you are receiving state support. The lenders and loans available to benefits recipients do vary, however, and the types of credit available to somebody on Disability Allowance will be different from those available to people on shorter-term forms of benefits.
Will emergency loans have an impact on my credit rating?
Almost any form of borrowing has the potential to impact your credit rating, but when you apply via Little Loans you can rest assured that your credit score will be unaffected, at least until you decide to proceed with a full application with one of the direct lenders from our panel.
This is because our application process uses only a ‘soft’ credit check to help determine your eligibility, meaning that no mark will be left on your credit record. We will then match you with the lender from our panel that is most likely to approve your application, which could help you to avoid making multiple applications to lenders which could in turn have a negative effect on your credit rating.
How can I apply?
It’s easy to apply with Little Loans. You can start by using our quick and simple eligibility checker to get a rapid indication of whether you qualify for a loan with a lender from our panel. If it’s good news, you can then complete our easy online application form Hawaii payday advance, at which point we will conduct a soft credit check to help determine which lender is the most likely to approve you for emergency borrowing.
Once we’ve identified the lender who appears most likely to approve your request, you can then choose to complete a full application directly with them. At this stage, they will carry out a full credit check and whilst this could impact your credit score, you’ll have limited the risk of having to apply to multiple lenders without knowing if you even have a chance of getting accepted.