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Will I Be Refused A Payday Loan If I Have Bad Credit?

Posted on by Laura

As the UK struggles to recover from the double-dip recession, the government are trying to extract money in every possible way be it increasing interest rates, fuel costs, pay freezes, pension freezes, and redundancies.  Therefore it’s little wonder that requests for a payday loan are at an all-time high as the average household is finding it harder and harder to make ends meet.

The UK banking system is largely responsible for the global recession due to their over-lending.  Consequently, the same institutions are now being incredibly cautious about lending people money.  This means that it is more difficult than ever to get credit or loans.  This is driving the demand for payday loans, as the application process is easier.

Typically, it is the credit report which determines whether or not a person is accepted for a loan request, therefore having a bad credit report can mean being refused credit or a loan.

Credit reports are official reports documented by three agencies (Experian, Equifax and Callcredit) which effectively creates a consumer profile of how you manage your finances.  It records every time a payment is missed or a CCJ is incurred etc.  These reports are what every single lender will look at when deciding whether or not to award a loan or credit.

The great thing about cash till payday loans is that they do not discriminate against people who have bad credit.  This is because most payday lenders do not even run credit checks therefore they are still prepared to lend a sum of money despite any financial history.

Therefore borrowing money in the short term means that cash till payday loans are a great solution, providing that the terms and conditions of repayment are adhered to.  If not, the loan recipient will incur more debt.

Cash till payday loans are a great source of income for people who have bad credit because the majority of payday lenders do not run credit checks.  Cash till payday loans are a great short term financial solution for anyone with bad credit, needing to resolve an immediate problem.



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Chris needed to borrow £100 until payday. He applied here online and got his money within the hour. Chris repaid his loan when he got paid 28 days later at a total cost of £125.

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