Instalment Loans

for Bad Credit

Borrow between £100 to £2000

Representative example

Representative 49.3% APR. Representative example: £2,000 borrowed for 12 months. Total amount repayable is £2,772.97 in 11 monthly instalments of £231.08 and one final payment of £231.09. Interest charged is £772.97, interest rate 38.6% pa (variable), min 3.1% APR, max 1326% APR, min and max term: 3 – 60 months.
Warning: Late repayment can affect your credit score cause you serious money problems. For help, go to

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Bad Credit Loans from Money Trumpet


Bad credit loans give people the opportunity to find a loan when other lending products such as a credit card or main stream lending may not be suitable. At Money Trumpet we believe that everyone should be entitled to apply for a loan, even with poor credit. This could be for an emergency or a planned event such as a wedding. We think if you can afford to comfortably repay a loan why shouldn’t you be considered. The plus side is if you meet your repayments it can help rebuild your bad credit score.


What exactly are bad credit loans?

If you have applied for a loan or any other financial product that requires a credit agreement and been declined you may have a poor credit score or due to difficulty repaying previous loans, this means that most of the mainstream or high street lenders will reject your application. In this situation, you need to find a lender or broker that can provide loans to people with adverse credit. This is where the name for this type of loan comes from. Bear in mind just because you have been rejected by one lender it may not mean your credit score is bad. Some lenders have rigorous criteria when it comes to loans and will reject people that others will accept.


Why am I being declined elsewhere?

When you apply for a bad credit loan, each lender will have their selection criteria along with looking at your credit score through one of the main credit reference agencies such as Experian or Equifax. The credit rating that you have will determine the likelihood of being accepted, defaults or CCJ’s will significantly lower your score.  If your application returns a low score due to a bad credit rating, you will be refused, especially if it is a high street bank. Before you apply for a loan see if the lender or broker will carry out a soft or hard search as repeated hard searches will be recorded on your credit file lowering the chances of approval. No previous credit history could also be a reason for rejection.


What are the Disadvantages?

The worst thing about having a bad credit history is not having the freedom to choose the best lender and the lowest APR/interest rate. Although you still have options open to you by taking out a bad credit loan, it needs to be said you won’t have a good a deal as your good credit counterparts will have and the loan will have higher interest. Direct lenders that offer these types of loans do so in the knowledge that their customers may have got into this position by defaulting on previous credit agreements. So, for them, there is a chance it could happen again and you won’t be able to pay back the loan. A high-interest rate is a way of being able to lend to people with poor or very bad credit. Sometimes you’ll pay twice as much back as you would with a standard lender. Bad credit lenders also tend to lend smaller amounts of money and have high interest rates so make sure you look at these before you get a loan with bad credit.


Can Money Trumpet help me find a bad credit loan?

We try to help as many people as we can, and to date, we have a pretty good record! Our partner Monevo, use many of the main direct lenders for bad credit as well as some lenders that provide loans to people with extremely bad credit. They help you find the best lender for your circumstances. The process is straight forward, and you can apply for a personal loan in as little as 2 minutes and if successful the funds can be usually be deposited in your bank account within 24 hours. If you are a UK resident, have a stable address history and are employed or self-employed you stand a good chance of being able to find a loan. Remember that Money trumpet is an introducer and not a lender, so we only help you find the best lender for your circumstances and don’t directly provide bad credit loans.


Can I get a bad credit loan?


  • Be a UK resident
  • Be over 18 years of age
  • Hold a bank account with a debit card
  • Be in receipt of a regular income


What can I do if I’m rejected?

If for any reason your bad credit loan application is not successful, our advice would be to try and find out what the potential issues could be. Never submit repeated applications for loans as this can damage your credit file even further. Request your credit report to see what is registered against you. If you find defaults, CCJ’s or late payments you should take appropriate action to improve your credit score before attemping to borrow money.


How can I check my score?

Everyone is permitted to see their credit file, and it’s advisable to do so regardless of your credit history. When you apply for a lan the lender will carry out a credit check. You can contact the main credit reference agencies such as Callcredit or Experian and order your credit profile over the internet. Alternatively, there are now several free websites that will provide your credit score and file free of charge. Try a search online as more and more are appearing. If you find you have a bad credit file you may find the complete guide to credit repair useful.


Is it better to use a direct lender or broker?

Even if you have excellent credit using a licensed credit broker will give you access to the full loans with bad credit market rather than just one lender, meaning more choice, and for those with poor credit, a better chance of being able to borrow money and obtain a personal loan. There are exceptions when some people have a good relationship with a direct lender that they have used for years but even so with the internet and a good broker can create a high acceptance rate. So, in our opinion a reputable broker is always the way to go, why settle for one quote when you can scan the whole market and find the best one. Always look at the representative example which should be displayed on the websiteWhoever you use always make sure that that the lender is authorised and regulated by the Financial Conduct Authority (FCA).


How much can I borrow?

We cater for bad credit loans between £100 to £25000 if you need to borrow a more significant loan amount you may be better looking at alternatives or simply saving up. It is doubtful you will find unsecured bad credit loans for more than Twenty-five thousand pounds. The loans we can help find are not really for the long-term and are mainly used to cover sudden emergencies or provide quick-term solutions. If you need a loan for less than £100 it probably makes more sense to ask a family member or friend instead, even for loans of £100 the direct lender will still perform a credit check.


I’m unemployed, can I still apply?

Being unemployed will significantly decrease your chances of being approved, but we do work with some lenders that can provide loans for people that are unemployed but remember they will also look at whether you can afford to repay the unemployment loan. You need to consider how much money you have coming in and what is left to repay a loan after all your outgoings. If you are looking for something small, it may be worth asking a family member or close friend to help.


What if I can’t repay the loan?

Before you think about taking out a bad credit loan make sure you have planed all your outgoings and know exactly how much you will repay, so you know you can afford the repayments. Sometimes unforeseen circumstances arise such as redundancy or illness, and you can find yourself struggling to meet the loan payments. If you find yourself in this situation, always contact the lender to discuss your options. Never bury your head in the sand as this will lead to a damaged credit file. If you find yourself in trouble, contact the It can be difficult getting a loan with bad credit so if you default on that it will damage you credit file even more and dramatically affect your credit score.


I have an extremely bad credit rating; will anyone help me?

Many people poor credit that have found a loan through Money Trumpet had given up hope of finding a loan. Our partner works with many bad credit lenders who can help even extremely bad credit histories. So, although we can’t guarantee it, you certainly stand a chance of being accepted. It will also come down to the loan underwriters and whether they deem your credit history to be suitable for their loans criteria. If you aren’t successful don’t give up hope, you need to look at your credit report to see where the issue lies.



Alternative options to bad credit loans

It can sometimes make you feel like an outcast when banks and other lenders refuse your application and more often than not its when you need to borrow the money for an emergency or need a fast loan. Although bad credit loans are one option, there may also be ways to help with an alternative to payday loans for bad credit. This is also a straightforward application.


Rebuilding your history

If you find yourself being declined due to poor credit, you can start to take steps to increase your score. Depending on what is recorded against you the steps you will need to take will be different. First, you should request your file as mentioned above to see if you have a poor credit history and to see what the credit reference agencies have recorded. If you have been made bankrupt or have an active IVA, there’s not much you can do but wait. Any CCJS that are unpaid will cause a problem. Contact the creditors and arrange a payment plan, once they are paid, you can have them marked as satisfied. No CCJs are good, but a satisfied one tells a lender you have been responsible enough to clear your debt. Keep making monthly repayments on time for any loans, cards or any other financial agreement and your score should start to increase.


Can I repay the loan early?

In most cases loans can be repaid early, this will be possible, but each lender will have different rules on this. If you want to repay early, most lenders will provide a settlement figure which will incorporate the loan and a portion of the interest rates. If you have a poor credit history it may be better to stick to the agreed term to build up regular repayments. This will look good to other direct lenders.


The loan application process

To apply simply choose your loan amount and click apply now and you will be taken to the bad credit loan short form. After completing this you may be able to get a decision within 2 minutes.