Instalment Loans

for Bad Credit

Borrow between £100 to £2000

Personal Loans

for Bad Credit

Borrow between £2000 to £25000

60 Second Form

Instant Response

Fast payout

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 cause you serious money problems. For help, go to

Bad Credit Loans from Money Trumpet


Bad credit loans give people the opportunity to borrow money when other lending products may not be suitable. At Money Trumpet we believe that everyone should be entitled to apply for a loan if you need an injection of funds. This could be for an emergency such as unforeseen repair bills, or it could be for 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 make sure 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 it may be likely that you have poor credit, 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 cater 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 is bad. Some lenders have rigorous criteria and will reject people that others will accept.


What can I use the money for?

It is advisable to use these types of loans in an emergency which can cover a whole host of different things. You may have an unexpected car repair bill, or you may need a loan to top up a wedding or holiday but whatever the reason you should always make sure you are able to repay the loan comfortably. It is important to remember that these types of loans should be treated as long-term. If you need to borrow more than £25000 then you might need to find a guarantor.


Why am I being declined elsewhere?

When you apply for a loan, each company will usually undertake their selection criteria as well as run a check through one of the main credit reference agencies such as Experian or Equifax. Depending on the score that comes back will determine the likelihood of being accepted, defaults or CCJ’s will significantly lower your score.  If your application does return a low score due to bad credit, you will be refused, especially if it is a high street bank. Before you apply for a loan see if the lender or broker carry out a soft search 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 of bad credit loans?

The worst think 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 by taking out a loan for bad credit it needs to be said you won’t have a good a deal as your good credit counterparts will have. 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. 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 company. The other negative point is if you are trying to borrow over £5000 you may be out of luck as bad credit lenders will rarely go over this amount. Lastly, if you default on this type of loan you be unlike to get another chance until you have gained a good credit score again.


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 as well as some lenders that provide loans to people with terrible credit. They help you find the best lender for your circumstances. The process is nice and simple, and you can apply for a loan in as little as 2 minutes and if successful the money 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 provide you credit. Apply Now for loans up to £2000


Standard requirements for a 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 application is not successful, our advice would be to try and find out what the potential issues could be. Never submit repeated applications as this can damage your credit file even further. Request your credit file 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. The other option is to find someone to act as a guarantor for your loan but remember this will mean they are putting their house at risk should you fail to repay the loan.


How can I check my score?

Everyone is permitted to see our credit file, and it’s advisable to do so regardless of your credit history. You can contact the main credit reference agencies such as Callcredit or Experian and order your credit file over the internet. Alternatively, there are now several free websites that will provide your credit score and file free of charge. Try a search on Google as more and more are appearing.


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 market rather than just one lender, meaning more choice, and for those with bad credit, a better chance of being accepted for a 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. Whoever you use always make sure that that the lender is regulated by the FCA (Financial Conduct Authority).


How much can I borrow?

We cater for bad credit loans between £100 to £25000 if you need to borrow a more significant amount of money you may be better looking at alternatives or simply saving up. It is doubtful you will find an unsecured bad credit loan 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 to borrow less than £100 it probably makes more sense to ask a family member or friend instead.


What is the process to apply?

The bad credit loans application process is straightforward and should take no longer than a couple of minutes. Simply click on the get a quote button at the top of the page and complete each section of the form. In most cases you will have an immediate decision, sometimes you may have to wait while the lenders carry out a few checks. You may be asked to provide identification, bank statements or payslips.


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 cater 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.


Do you charge any upfront fees?

Absolutely not, we never charge any fees at any time. We do receive a fee or commission should you be approved for a loan, but this does not affect your interest rate or your repayments. Never pay a fee to anyone for applying for a loan.


What if I can’t repay the loan?

Before you think about taking out a loan make sure you have planed all your outgoings, 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 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


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

Many people have found a loan through Money Trumpet that 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 criteria. If you aren’t successful don’t give up hope, you need to look at your file to see where the issue lies.


Do you report back to the reference agencies?

As an introducer Money Trumpet does not but the lender that provides you with your loan will do. Therefore, you should always keep up the loan repayments and if you struggle to make sure you communicate.


Alternative options to bad credit loans

It can sometimes make you feel like an outcast when banks and other lenders refuse to lend you money 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 in a position where your profile has declined, 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 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 payments on time for any loans, cards or any other financial agreement and your score should start to increase.


Can I repay early?

In most cases, 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.