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12 Month Loans - Bad Credit Accepted

If you have a bad credit rating, it’s understandable that you might think that it can be hard to secure a loan via traditional means when you need it. However, if you require money at very short notice, a short-term loan over 12 months with Little Loans may be a suitable solution for you if you can afford to meet all of the repayments on time and in full.

We know that unexpected bills and sudden changes in personal and financial circumstances can often result in cash being needed at short notice. Please remember though that having bad credit isn’t necessarily a barrier to being accepted for a loan of over 12 months anymore (subject to eligibility).

Little Loans works with over 40 reputable Financial Conduct Authority (FCA)-authorised and regulated lenders to provide borrowers across the UK with quick, competitive, and affordable cash loans, even if their credit history is less than perfect.

12 Month Loans for people with bad credit

  • Can you get an instant cash loan if you have bad credit?
  • Should you apply for a loan if you have bad credit?
  • Why should you use Little Loans if you have bad credit?
  • How does the process of applying for a loan with bad credit work?
  • Can you get free financial advice?

Can I get an instant cash loan if I have bad credit?

With over five million people successfully applying for one every year, short-term cash loans are now one of the fastest growing forms of borrowing in the UK. Working with our panel of FCA authorised and regulated lenders, we’re able to help a range of people with differing credit histories apply for different types of loans, including over terms of 12 months

Our user-friendly application process takes just 2-3 minutes to complete and, if you're approved by one of our lenders, you could receive your funds within minutes*.

Should I apply for a 12 months loan if I have bad credit?

Whatever the size of loan you decide to apply for, it’s important to ask yourself a few simple questions about your current financial circumstances as this will help you decide what type – and size – of loan is best for you.

How much cash do I need?

You might wish to consider taking out a short-term loan to provide you with the cash you need to cover unexpected financial emergencies but you shouldn’t borrow more than you really need.

Remember that you pay interest on the total amount of money you borrow, not just on the money you actually need. If there is something, you’d really like to buy but it’s not an emergency, it would be better to try to save up for it instead.

Do I need the money right now?

Our loan providers are able to deposit cash into your account within minutes so a short-term fast loan may be a suitable solution if you need money now and you can comfortably afford the repayments. We’re able to process your loan application in 2-3 minutes and then send your loan request to our panel of lenders for consideration straight away. If we find a lender on our panel likely to approve your loan, their application process also takes just a few minutes meaning that the delay in your loan being paid into your bank is minimal*.

How much time do I need to make my repayments on a yearly loan?

Although each lender has their own repayment schedule, your first repayment on your 12-month loan will generally be taken from your bank account on the same date in the following month. Subsequent repayments will then usually be taken on the same date during the rest of the term of your loan.

You may wish, when you’re applying, to set a specific date in the month on which your repayments will be collected – for example, the day you’re paid by your employer.

Each lender has their own preferred method of collecting repayments from their borrowers. If you are offered a loan, the date and amount of each payment will be shown to you before you make a decision on whether to accept the loan.

Can I actually afford to pay back the loan?

Each person's financial and personal circumstances are different so, if you're considering taking out new credit, it's important to be certain that you know how you'll repay your loan.

Taking out a loan over 12 months only makes financial sense if you're able to comfortably meet the regular monthly repayments until the loan has been paid off in full. In addition, making the repayments should not cause you any hardship.

Why should you use Little Loans’ to find 12 month loans if you have bad credit?

Nobody likes waiting around and it’s for this reason that we’ve fine-tuned our easy-to-use application process to make things as quick and easy for you as possible, even if you have a poor credit history.

If you have bad credit and need cash at short notice, Little Loans may be able to help. Remember that the bad credit lenders on our panel take into account your current personal and financial circumstances into account, not just what’s written on your credit file.

When we first start working with a new lender, we ask them about the kind of borrower they are most likely to say “yes” to for a loan. In order to increase the chances of them being a suitable match for you, we also find out about the type of loans they typically approve, including how much, how long for, and the purpose of the loan.

How does the process of applying for a loan with bad credit work?

Once you’ve filled in some basic information on our website, you’ll be transferred to the website of a lender on our panel – they will also ask for information on your current circumstances such as where you live and your employment status. They’ll then get back to you with a quick decision on your loan application.

If your loan is approved, funds are typically sent to your bank account within minutes*.

Please note that, as your loan broker, Little Loans don’t carry out any credit checks on you ourselves. However, when finding the most suitable partner for you, the lenders we contact initially on your behalf will carry out a soft credit check on you. Unlike hard credit checks, soft credit searches don’t have any impact on your credit score and they aren’t visible on your credit report to anyone but yourself.

Once we’ve heard back from the lenders we approach, we’ll then automatically re-direct you to the website of a lender on our panel likely to approve your application. Only this lender will carry out a full credit check on you if you submit a complete application with them.

To apply for a 12-month loan with Little Loans just you can fill out our quick and simple application form. It shouldn’t take you longer than a few minutes to complete.

Do you need free financial advice?

If you're struggling with your finances, there are six established debt charities in the UK which offer free advice, support, and guidance to borrowers who are concerned that their current level of debt is too difficult to manage. Please follow the following links for more information: StepChange, PayPlan, National Debtline, the Debt Advice Foundation, the Money Advice Service, and Citizens Advice.

Apply for a loan over 12 months for bad credit applicants

To apply for your 12 month bad credit loan through Little Loans, please click here.

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Representative Example: Amount of credit: £1200 for 18 months at £90.46 per month. Total amount repayable of £1628.28. Interest: £428.28. Interest rate: 49.9% pa (variable). 49.9% APR Representative. We’re a fully regulated and authorised credit broker and not a lender