Looking for long-term, flexible finance? Payday Loan Now can help you. If you require a long-term loan even with bad credit, then contacting us can be the best option for you.
A bad credit long-term loan is borrowed for a longer time period of more than a year. This type of long-term loan is specifically designed for people who have very poor credit score. They are offered at a low-interest rate often as compared to the short-term loans.
Why Should You Take a Long term Loan with Bad Credit?
There are many benefits of bad credit long-term loans that can be very helpful for people with poor credit score. Some of them are as below:
Can People with Poor Credit score Apply For Bad Credit Long Term Loans?
Traditional lenders like banks won’t approve your application if you don’t have a stellar credit history, but with some research, you can easily find direct lenders who offer bad credit long-term loans with less than perfect credit history as well.
Application Process of Bad Credit Long Term Loan Online
If you are interested in a long-term loan, Payday Loan Now has the best available loan options for you. For many years, we have been privileged to provide competitive funding to people in need. We understand that how important money is for you and time is important.
Therefore, we have a simple and straightforward application. You just need to complete our online application form that asks for the total amount you want to borrow and when you want it along with some personal information. We could help checking the provided data and you can get a decision from us in just 4-5 hours.
What Can You Use A Bad Credit Long Term Loan For?
Bad Credit Long-term loans are debts that can be paid off in a year or more. These type of loan now has the knowledge of what purposes or situation compel you to go for a personal loans that is available for an extended period. We have been offering Bad Credit long-term loans to people of the UK for their needs for years. These needs can include, but aren’t limited to:
Improving your credit rating:
Do you have a bad credit file history in your financial profile? Nothing to be worried as you can get the money you need in your bank account easily. You can select through our outstanding deals in long-term loans for poor credit people. We are in business to lend money as per your comfort. You will get a competitive interest rates and other loan terms based on your present financial capacity.
Consolidating your debt:
Consolidating your debts in one larger loan which can be easily repaid over an extended time period means that you’re offered a definite date of when your debts will be over and let you handle your monthly budgets as well. As a loan broker with years of expertise and experience, Payday Loan Now has many Bad Credit long-term loans to suit your diverse needs. This loan may need your property as a security against the loan. So, you should make sure that you easily afford the monthly repayment with your normal income since you have the risk of losing your property. If you do not keep making the monthly repayments on time.
Businesses often take long term loan to help finance their business. A secured and Bad Credit long-term business loan can be used for investing in resources, stocks, premises, and other expansion plans.
Home Purchase or Renovation:
To have your own house or renovating your current property can be an ever-living dream. But, getting the money you need can be the hurdle sometimes. Stopping yourself isn’t a good option since Bad Credit long-term loans are there to help you with a monthly repayment option of a year or more.
What Qualifies As Bad Credit Long Term Loans?
A Bad Credit long-term loan offered by Payday Loan Now can offer more flexibility and breathing space to pay back the loan over 1 year to 20 years. Because of the great extent of involved financial commitments, sometimes long-term loans may be secured against a car, home or other assets. Though clients can settle down the loan early on, the monthly payments are usually done on a installment basis. Keep in mind that late repayment of loan could affect your credit score.
What Qualifies You For A Bad Credit Long Term Loan?
If you meet the following requirements, you can apply for a Bad Credit long-term loan online:
Those who meet the eligibility requirement mentioned above can apply online for a Bad Credit long-term loan through Payday Loan Now. However, your loan approval is not guaranteed with these eligibility criteria. We will perform a thorough credit search for your application. So, we need to make sure whether you will be able to make the monthly payments or not before approving.
Bad Credit Long Term Loan FAQs
Ans: At Payday Loan Now, we don’t process any long-term application with checking credit scores in the UK. We as a trusted service follow responsible lending terms and treat every client fairly and equally. We approve a loan only if we think that you can manage your finances and afford the repayment terms. We have already helped thousands of clients like you to get the funds they need which are proof of our high-acceptance rate. In case, you do not pass our credit check, we will have to decline the application. If we don’t approve your loan application, you won’t be necessarily refused by other lenders out there. You can try your luck somewhere else.
Ans: Usually, long-term loans don’t call for a guarantor. But, some lenders approve a Bad Credit long-term loan only after co-signing by the guarantor. It completely depends on the money you are looking to borrow along with your credit score. In case of bad credit, lenders might offer you the required loan with a guarantor only. And the guarantor will be somebody with a high credit score. However, if the borrower himself/herself has a good credit rating, no guarantor is needed.
Ans: Payday Loan Now offers Bad Credit long-term loans for those with a great credit score from £1000 to £25000. However, those with a bad credit score are limited to borrowing £7500 as a maximum total amount because of higher lending risk.
Ans: Payday Loans Now works fast to offer the loan and funds you want. Our online loan application takes you 3 minutes only to complete and you can rest assured to get a decision in just a few hours. You can get the money in your account on approval on the same day itself.