Bad Credit Loans

Personal Loans for Bad Credit

Unexpected expenses, debt consolidation, or buying a car can make finding the right finance important. But being declined for a loan due to bad credit or other financial factors can be frustrating and stressful.

Oakbrook Advance offers personal loans with clear terms and a simple online application process. With a soft-search eligibility check before you apply, you can explore your options without affecting your credit score while borrowing responsibly through affordability checks.

I want to borrow

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Total repayable

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( It won’t affect your credit score )

Representative 39.9% APR

Representative example

Borrowing £2,000 over 24 months at Representative 39.9% APR and Interest rate 39.9% p.a. (fixed) with monthly repayments of £116.07 and a total amount payable of £2,785.68 This example is for illustration purposes only. The rate and / or term you are offered is dependent on your individual circumstances Rates from 20% APR to maximum 69.9% APR. Loan terms from 12 to 36 months.

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What are Bad Credit Loans

If you find yourself in these or similar circumstances, we offer loans for people with bad credit of up to £5,000, that could provide you with the finance you need. What's more, applying for a loan for bad credit is quick and easy with our simple online application form. You'll get an instant response and checking your eligibility won't affect your credit score.

Our personal loans for bad credit are flexible. Depending on the amount you borrow, you can spread your payments from 12 months to 36 months.

Our bad credit loans are designed to help people with poor credit scores or a bad credit history. All of our bad credit loans are 'no guarantor loans', so you don’t need to be a homeowner to apply. If you’ve struggled to secure credit elsewhere, a bad credit loan from OakbrookAdvance may be a suitable option as it's possible that a low credit rating and poor credit history are to blame.

If you’d like to learn more about your credit rating and how it might be affecting your ability to secure a loan, then our OakbrookAdvance Blog is a great resource. You can learn about factors that affect your credit rating, how you can improve your score, increase your chances of approval and how you can budget for larger projects.

Why Is It Usually Difficult To Get a Loan With Bad Credit?

If you’ve struggled to be approved for credit in the past, then a poor credit history and a low credit rating may be to blame for this. Low credit scores could mean that many banks and lenders may not want to lend to you. However, our loans specifically designed for people with bad credit may be able to help you secure the finance you need.

Why Apply for a Bad Credit Loan?

There aren’t any additional fees to pay
You could pay back your bad credit loan early
Our loans for people with bad credit can all be managed online

Get a Quick Quote for a poor Credit Loan

You can get a quick quote if you’re looking for a poor credit loan by applying online. These quotes are commitment-free and can allow you to get a better idea of what kind of poor credit loans we could offer you and what repayment plans are available. This can also help you to be certain that the loan we offer is the right option for you.

After this, you can simply fill in your personal details and we’ll give you an instant decision. Upon approval, we will try and send your money to your account as soon as possible. However, during busy periods, this could take up to 5 working days.

I want to borrow

Over

${ loanTerm } monthly repayments of

£${ monthlyRepaymentAmount | formatCurrency }

Total repayable

£${ totalRepayableAmount | formatCurrency }

Check my eligibility

( It won’t affect your credit score )

Representative 39.9% APR

FAQs - People Also Ask

Can I get a loan with very bad credit?

Yes OakbrookAdvance considers applications from customers with very bad credit. We look beyond your credit score at your current affordability. A soft search won't affect your credit file when you check your rate.

What is a direct lender and why does it matter?

A direct lender lends its own money and makes its own lending decisions there are no middlemen or broker fees. OakbrookAdvance is a direct lender, regulated by the FCA.

I've been refused everywhere can I still apply?

Being declined elsewhere doesn't mean we'll say no. Each application is assessed individually on current affordability, not just credit history.

Do I need a guarantor to apply?

No. OakbrookAdvance does not require a guarantor. You apply as an individual and we assess your own income and affordability.

Will applying affect my credit score?

We run a soft credit search when you check your rate — this does not affect your credit score. A full credit search is only carried out if you proceed with a full application.

What counts as bad credit?

Bad credit generally means missed payments, defaults, CCJs, or a limited credit history. Even if your score is low, you may still be eligible if you can afford the repayments.

How much can I borrow with bad credit?

You can apply for between £500 and £5,000, repayable over 12 to 36 months. The amount offered depends on your individual affordability assessment.

Loans for People with Bad Credit

At OakbrookAdvance, we offer personal loans for bad credit from £500 for a short term loan, to help you manage your finances, to £5,000 loans, to help with things like home renovations and improvements. You can learn more about the costs of these in our handy guide.

Whether you’re looking for car loans or kitchen loans, we offer all types of loans suitable for people with bad credit, and because we run a soft credit search, getting a quote for one won’t affect your credit score.

You can learn more about what a bad credit score is here.

OakbrookAdvance Bad Credit Loans

Here at OakbrookAdvance, we believe that people should be able to access affordable loans, despite their circumstances to make borrowing money more accessible. This is a belief that we place at the heart of everything we do and every decision we make.

Plus, you can get a quote without affecting your credit score, and if your application is approved, we will try to pay your money into your bank account the same day or the next working day. However, during busy periods this could take up to 5 working days.

We’re also one of the few providers who offer loans starting at £500, and there aren’t any additional fees to pay.