Bad credit loans

Loans for people with bad credit

If you have had problems with credit in the past, or are currently experiencing financial difficulties, you may think that you won’t qualify for a personal or secured loan.

However, there are loans available and here we highlight your choices and the issues you need to consider.

Compare loans for people with bad credit

Even if you have a CCJ or have been refused credit in the past, you can still compare and apply for loans with uSwitch today

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Is a secured loan the best choice for people with bad credit?

If you are a homeowner and have a history of bad credit you are more likely to be offered a secured loan rather than a personal loan.

A secured loan does offer more choice as:

  • the eligibility criteria are generally less rigorous than a personal loan
  • the amount you can borrow is higher than a personal loan
  • the repayment term can be longer

However, the lending company is only able to offer these benefits because its risk is reduced by having your house as security against the loan. You need to think very carefully before taking out a secured loan. If you default on your payments you could risk losing your home.

Check your credit rating

CompanyPriceOther information Apply
30 day free trial
£14.99 a month
Identity Fraud Insurance
Email & SMS alerts
30 day free trial
£14.95 a month
Weekly alerts
Customer support team
30 day free trial
£7.99 a month
Three credit agency checks
Debt advice centre
Identity theft protection
£19.99 One off credit report check
No monthly subscription
30 day free trial
£7.99 a month
Unlimited credit report access
Alerts and tools
Support to improve credit rating

What other steps can I take to improve my credit rating

  • Debt consolidation loan. If you want to control your debt by having one manageable, monthly repayment, a debt consolidation loan could help you.
  • Pay off your loans. If you are able to pay off the loan and accrue no further debt, this will be seen as a positive value towards your credit rating.
  • Check your credit report. It is a good idea to check your credit report before you apply for a debt consolidation loan or secured loan.

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