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Loans for people with bad credit

If you have a bad credit history, it can be hard to secure a loan from mainstream lenders. You may have had trouble keeping up with repayments in the past, received a County Court Judgement or even have no credit history at all. Morses Club may still be able to help.

When we talk about bad credit loans, it refers to a type of loan that may be suited to people who have perhaps had a less than perfect credit history. Morses Club may be able to offer you a cash loan that could help if you come up against unexpected costs.

Can I apply for a loan if I have bad credit history?

At Morses Club, we don't just look at your credit score. We consider all your circumstances, including your income and outgoings to make sure that your loan is manageable and affordable for you.*

Morses Club is authorised and regulated direct lender and we have been rated Excellent on Trustpilot.

*Excludes people who have been declared bankrupt, applied for Sequestration, had a Debt Relief Order or an Individual Voluntary Agreement within the past 6 years.

How do our loans for people with bad credit from Morses Club work?

Morses Club is a direct lender for people with bad credit in the UK. If you are a new customer with a low credit score, you can apply online today to borrow between £300 - £1000. Our loans have different terms, which are based on the amount you want to borrow, however your weekly payment amounts are fixed, so you always know how much you need to repay.

  • Initial online decision
  • No hidden charges or administration fees
  • No guarantor needed
  • Fixed weekly payment amounts
  • Friendly agent home-collection service or repay online (link to customer app)
  • Fixed interest rates

As well as this, you'll have the security of knowing that you’re dealing with a reputable direct lender with a history of over 130 years.

Don't let a bad credit score put you off getting the loan you need.

Call or apply for a loan online and see if you could be approved in principle for a Morses Club loan. You will get an instant decision online on whether you have been accepted in principle or not. There's no paperwork involved; however you may need to provide documents during your affordability assessment.

How can I get an unsecured loan with a bad credit history?

As with other kinds of loan, the specific criteria that needs to be met for an application to be accepted varies from lender to lender. At Morses Cub we don’t just consider your credit history before approving you for a loan, we will take your income and outgoings into consideration to help make sure the loan is affordable for you.

Some loan companies would require a guarantor to co-sign with you when you apply, who would be responsible for paying back the loan should you not be able to. Morses Club don’t currently offer a guarantor loan option.

At Morses Club we understand that a poor credit rating isn’t always the full story. That’s why when you apply for a loan, we don’t just look at your credit score. We consider a range of factors, including your employment status and the affordability of loan repayments. This builds a fairer picture of your financial situation before we make a decision.

Who will give loans to people with bad credit?

A variety of lenders offer loans to those with bad credit scores, though these loans are usually offered at a higher interest rate. Most of bad credit lenders can be found online, and some research will give an indication of whether an applicant with a bad credit history will be accepted or not so make sure you do your research to find the best loans for bad credit scores. Morses Club will carefully consider each application.

Can I get a short-term loan with a bad credit history?

Short-term loans are often assessed on more factors than just your credit score. A bad credit score may not necessarily mean that your application is turned down. Each application is examined and considered before a decision is made to lend money. Some loan companies may offer loans for people with bad credit or very bad credit scores so do your research before you apply.

What is a credit score?

Your credit score is used by lenders to help determine whether you qualify for a loan, credit card or other credit. This is based on your credit history and how you've handled your finances historically.

There are many factors that go into determining your Credit Score:

  • Information on your credit report such as how much of your available credit you're using and total debt
  • Your history of credit account payments
  • Credit searches (such as when a credit application is made)

The three main Credit Reference Agencies in the UK that determine your Credit Score are Experian, Equifax and TransUnion. You can go online at any point to any of their websites and find out your Credit Score for free.

For definitions of other common financial terms, take a look at our jargon buster page.

Will a loan improve my credit score?

Taking out a loan may have a positive impact on your credit score if you make your payments on time. Making a late payment or missing a payment altogether will likely result in a negative effect on your credit score.

Applying for multiple loans at once or having an excessive number of loans will also likely have a negative impact on your credit score as it can appear that you’re reliant on credit.

Can you get a bad credit loan without a bank account?

To get a loan from Morses Club, you need to be over 18 years old and a UK resident. You have the option to receive payments into your bank account, or one of our friendly agents can deliver a cash loan to your door.

Can I get a Morses Club loan with no credit check?

No, it’s not possible to get a loan without a credit check from us as we are a responsible lender. Morses Club carry out credit and affordability checks on every applicant, and we cannot provide loans for bad credit without a credit check because we believe in lending responsibly.