WARNING: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

Please note: We are a broker, not a lender, and do not make credit decisions.

Rates from 35.9% APR to max 1304% APR. Minimum Loan Length is 3 months. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 3 months. Total amount repayable is £411.63 in 3 monthly instalments of £137.21. Interest charged is £161.63, annual interest rate of 292% (fixed). Representative 1192% APR (variable).

Subject to application being approved by the lender. Not all lenders are able to provide up to £5000

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Information on Very bad credit payday loans without guarantor in the UK

Trying to find a payday loan when you have very bad credit can be difficult. But rest assured that all is not lost.

Here at 1st Class Loans, we want to try to help every person that visits our website, by either providing helpful information and tips as alternatives to borrowing or by helping you to find a solution to a very bad credit payday loan.

On this page we will cover the following information, to help you make a decision on whether or not you need a bad credit loan without a guarantor:

  • Do I really need this bad credit loan?
  • What other options are available instead of a Short-term payday loan?
  • How can I improve my credit score?
  • Are payday loans the reason I have bad credit?
  • What are No Guarantor Loans?
  • Do you credit check for a no guarantor payday loan?
  • Why are interest rates higher on very bad credit loans?
  • Why a bad credit PingTree loan might be best for you.
  • What happens if I get accepted by a guarantor lender?
  • Last resort – Getting a bad credit payday loan in the UK!

1. Do I really need this bad credit loan?

Getting a payday loan when you have bad credit is a decision that should be taken likely. Not paying the loan back on time and in full, can be more damaging to your credit score affecting your chances of obtaining credit in the future.

It may seem like the easy option to just to get a quick loan, but you should always do some research before making a final decision.

To make sure you understand everything, please continue reading.

2. What other options are available instead of bad credit payday loans?

There are a number of ways to get money in an emergency such as – applying for a credit card aimed to help people improve their credit score, speaking to your bank about an overdraft limit, or purchasing goods that you need on a store credit account.

However, some of these options might be limited if you have a very bad credit score.

Sometimes it may be easier to get the funds you need when you’re restricted by your credit history, by looking at alternative ways to try and raise money:

There are numerous of other ways to raise money, and we have found a great article offering some great tips that we hope will benefit you; see >> student blog on 40 ways to raise money for more details.

3. How can I improve my credit score?

Unfortunately, there isn’t a quick fix to improving your credit score – however, investing time to understand what’s impacting your credit score and committing to improve this over time, is one of the best things that you can do for your future self.

There are a few things that you can do to help you improve this.

First and foremost, is to sign up to view your credit score. We find that one of the best free credit reporting solutions to sign up for is ClearScore. Not only do they have a great, easy to use app, but they also send great emails to help coach you on debt, financial savings, and how to improve your score.

Second, is to apply for a credit card aimed at people with bad credit to help improve your credit rating. We’ve shopped around and found that Barclaycard Initial offer competitive rates, along with free access to your Experian credit report. A credit builder card can be a great way to help improve your score, as long as you remain within your credit limit and make the monthly payments on time.

Thirdly is to check that you are registered on the electoral register at your home address. Not being registered on the electoral register can have a large impact on being approved finance. This is because the lenders don’t have proof of your address, making you a much higher risk to lend to.

For more information about your credit report and on how you can improve your credit score, please visit The Money Advice Service

4. Are payday loans the reason you have very bad credit?

Are you finding yourself getting a payday loan just to pay off another payday loan? If so, we recommend that you seek financial help. We have written a debt blog, to try and explain about debt and to help point you in the right direction on how you can help yourself to manage your finances and debt.

5. What are no guarantor payday loans?

A guarantor loan is quite simple – this is where someone you know, with a better credit rating, commits to paying back the loan in full if you can’t meet your repayments. This system has been used for a long time buying and renting property’s, buying cars and now for borrowing money. These are generally used when someone has limited, or bad credit.

A no guarantor loan is an opposite – you will have to make the full repayment yourself. If you fail to do so, this will damage your credit rating and you could be left with a CCJ.

6. Do you credit check for a no guarantor payday loan?

Many people go looking for a no credit check loan with no guarantor but are there such a thing? The answer to this is no. All lenders will carry out a credit check on you, and unfortunately, there is no getting around this.

Although, applying through 1st Class loans will only leave a soft credit search on your record which won’t affect your credit score. Only if you get accepted by a lender, will you have to go through a full credit search. For more details on this, visit our no credit check payday loan page.

7. Why are interest rates higher on very bad credit loans?

The reason why lenders charge more interest for very bad credit loans is due to risk. Having a bad credit score is either due to having no or limited credit history, so there’s nothing to show your previous payment history to see how likely you are to pay back the loan.

Another reason for having a bad credit score is due to not handling previous credit agreements in the best way, by missing payments or making late payments etc. Lenders will categorise you as a higher risk borrower, and therefore will charge you more interest on your loan. Therefore, making sure you can commit to the repayments before taking out a loan is vital with bad credit loans.

8. Why a PingTree bad credit loan might be best for you.

If you use a direct lender site or a comparison site and you have bad credit, chances are you might get rejected, which can be time-consuming if you have to apply with numerous lenders and can be even more damaging to your credit score.

Getting a 1st class ping tree bad credit loan can benefit you in the following ways:

9. What if I get accepted by a guarantor lender

If you do get matched with a guarantor lender and don’t want to proceed, we recommend you reapply to see the second lender you are matched with.

10. Last resort – Getting a bad credit payday loan in the UK!

We say last resort because we mean it, we always recommend looking at other solutions other than getting a fast loan no guarantor.

However, if you have looked at other options and you still decide that you need a very bad credit payday loan, then 1st Class Loans might be the best option for you.

If you haven’t found a loan when applying through 1st Class Loans, the chances are quite high that you may not get one anywhere else and trying could impact your credit rating further. If you have tried all options to raise money but haven’t been successful we recommend you seek financial help from the following websites:



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