Payday Loans for Bad Credit History

Miss-Payday.co.uk is a direct lender that specialises in payday loans for a negative credit history. It is what we do! Our Expertise and Speciality. You know that when you apply with us, for a short term loan we will provide you with the best and most trusted payday loan experience and service that you demand.

When we receive your Loan Application, we first check your eligibility to apply as follows:
1. UK Resident.
2. Over the age of 18 years.
3. Have a UK Bank Account.
4. Do not have any other Payday Loans with another Lender.

Following this, we perform our own internal review of your Application to ensure that you are able to meet the repayment terms of your loan without any undue hardship. If successful, you will not be subject to a Broker Service and will receive your loan directly from us.

The loan will be funded the very same day – usually, the same hour – which means you can apply and receive your loan while you are out shopping or wherever you need it most. Since we are a Direct Lender, your entire Application process is free of any fees. We do not charge you for applying and therefore you will avoid any Broker Fees by submitting an application to us.

Poor Credit Rating Loans

As one of the UK’s most recognised and best Lenders, we know that it is all to easy to find ourselves in a cycle of debt that results in a poor financial rating being being formed. As such, we have positioned ourselves to specifically help those who have once had a poor financial history but are now wanting to repair that and improve their credit history. Our Low Credit Rating Loans are the very best available.
All loan Applications will be considered, you do not need to worry if your credit loan history is unhealthy.

Continuous Payment Authority Service for Payday Loans

We also do not use the Continuous Payment Authority service. We rely upon you making your due payment or payments at your discretion. This puts you in charge and you do not have to worry about a Direct Lender removing monies from your account when you are not ready for them to do so.

Credit Reference Agencies for Payday and Short Term Loans 

We do not use 3rd Party CRA’s. All Applications are thoroughly reviewed in-house which means that when you apply with us, it is essentially subject to only a ‘soft search’ and no mark is left on your Credit Loan Files with any of the CRA’s.

Regulation for Payday Loan Lenders

As a Lender in the Financial Sector, we are regulated and authorised by the Financial Conduct Authority following an extensive approval criterion to ensure that we work in the best interests of the British Public.
Our procedures and bad credit loans are designed to provide you, the Customer, with the very best service.

Direct Payday Loan Lender means no Broker Fees 

Since we provide loans ourselves, we do not rely upon a fee from our alternative Broker Service. As such, we do not have any Broker fees which saves you paying for a service that may or may not result in your getting a loan.

Your preferred Direct Payday Loan Lender

So why use Miss-Payday.co.uk as your preferred Payday Loan Lender?
1. We are a Payday Loan Direct Lender.
2. We do not charge any fees.
3. We do not use the Continuous Payment Authority service.
4. We accept Applicants with a Bad Credit Score.
5. We do not use 3rd Party CRA’s for Credit Reports and Credit Checks. We make all Lending Decisions internally.
6. We are Licensed by the FCA.
7. We are Members of the Consumer Credit Trade Association and subscribe to the Good Practice Charter.
8. We do not charge any Broker Fees.

What else is there to know about Payday Loans for a Negative Credit History?

Poor or bad credit rating loans should only be borrowed by people who have turned a corner with their low credit score history.

If you are still trapped in debt, then these bad credit loans are not at all suitable for you. Indeed, they will only make your situation worse that it already is. You need to have escaped from your debt cycle and be in a healthy position financially to repay any new borrowing that you enter into.

Providing that you do only take out loans that you can comfortably repay, then your on-time repayment will demonstrate to the Lenders – and the Credit Reference Agencies – that you are no longer a bad risk and therefore your poor credit rating will become a good credit rating.

Will you pay more for Bad Credit Loans? 

In short, yes. Unfortunately, all Lenders view those with a low credit rating as a higher debt risk than those with a good credit rating. It stands to reason that if you lend money to someone with a very good track record of repaying on time that they represent the least risk. It is therefore prudent to offer those individuals attractive, low-cost interest rates.

A poor rating conversely, is a higher risk and does result in more defaults. These defaults need to be costed and they push up the cost these types of loans. It does seem unfair that those who can more easily afford a loan are able to borrow far more cheaply than those who can least afford it. However, the risk model and non-payment factors does have to be allowed for. For this reason, avoiding a negative credit rating is very important.

Why do I have a Low Credit Score? 

There are many reasons as to why you might find yourself with a poor credit rating, such as:

  1. You may have failed to repay a debt on time.
  2. You may have defaulted on a loan or loans altogether.
  3. Too many applications for Credit in a short period of time. This does not look good to Lenders.
  4. Too many declines for Credit over a short period of time.
  5. No credit history at all. If you are new to an area then you may have no history for Lenders to make a judgement upon, invariably, this will count against you as they adopt a cautious stance             and see you as potentially high risk until shown to be otherwise.
What else can you tell me? 

We’ve covered much of what you need to know about your loan application with us today and urge you to also read our Privacy Policy and agree to our Terms and Conditions before you proceed.