Compare the price of home collected and other cash loans available in your area at

Bad credit loans

Start your application for a bad credit loan from Provident today; subject to affordability

How much you need to borrow


rebrand minus



rebrand plus

Over how many weeks



Weekly Payment

Weekly Payment



Total to repay

Total to repay

What is a bad credit loan?


When people talk about bad credit loans, they’re referring to a type of borrowing that’s available to people who have a poor credit rating. If you have a poor credit history, it can be hard to secure a loan from mainstream lenders.


It might be you’ve had trouble keeping up with repayments for a loan in the past, or received a County Court judgement for outstanding debt.


Alternatively, you may have no credit history at all simply because you’ve never had a credit card or a loan before. This means lenders don’t have much evidence to suggest that you’re able to keep to the payment schedule of a loan, and therefore, they may be unsure in lending to you.

The advantages of a bad credit loan


The main advantage of a bad credit loan is you may still be able to borrow money, even if your credit rating is low. In some circumstances, keeping up with repayments on a bad credit loan may help you improve your credit rating. At Provident, we might be able to offer a helping hand when other lenders won’t.


As part of the application process for one of our loans, a member of our locally based team will sit down with you and carry out an affordability assessment to work out how much you can afford to borrow and make sure you can manage your repayments every week throughout the course of your loan.


The disadvantages of a bad credit loan


Interest rates on a bad credit loan tend to be higher than other forms of lending. This is simply because lending to someone with a poor credit rating can be considered a higher risk, so the interest rate typically reflects this.


Failing to keep up with loan repayments can damage your credit score. It’s important to remember, you may find yourself in a worse position if you’re unable to manage your finances. You should only consider applying for a loan if you know you can afford to make the repayments over the repayment period. You can use our loan calculator to understand how much the weekly repayments will be, based on how much you want to borrow, over the number of weeks you choose to repay.

Tips on improving your credit score


Improving your credit score can help build a better financial profile and make you more attractive to lenders. Bad credit loans typically come with higher interest rates than standard loans due to the risk factor, which may limit what’s available to you. Improving your credit score can open up the door for more money borrowing options.


There are a few simple ways you can improve your credit score:


  • Be wary of entering joint finances with people who have bad credit ratings, as this can link your credit profiles and may affect your chances of gaining credit
  • If you ever find yourself struggling with large repayments on a loan, speak to your lender to see what they can do. For example, they could agree to you paying back smaller amounts over a longer period.
  • Keep up with all credit card and loan repayments
  • Ensure there are no mistakes on your credit file. Even a slightly misspelt address can have an impact on your credit score
  • Make sure your debts are registered to you, at your current address
  • Register on the electoral roll at your current address

Key things to remember with bad credit loans


It’s important to ensure you can make the repayments on time. You should always look towards improving your credit score in the long term.


It’s also worth considering the total amount payable with the length of the repayment schedule you’re looking for. If you repay your loan over a longer term, you’re likely to end up paying a greater amount of interest than if you pay it off over a shorter period. However choosing to repay over a shorter period can also mean higher weekly repayments, so it’s important to think about what the best option is for you.

How to choose the right loan for you


Selecting the right bad credit loan can be tricky, so it’s essential you do as much research as you can before making any decisions.


Weighing up the pros and cons of the type of lending available to you, as well as browsing the full market to discover the best value borrowing out there, should lead to finding the right loan for you.


It is always worth checking your credit file before applying for any kind of credit. If you’re able to correct any mistakes that might be on there, this may well improve your score.


Understanding your credit file may also help you avoid applying for credit from lenders who are unlikely to accept you. This is an important factor to bear in mind, as being declined for credit can make your credit score worse.

Choosing a Provident loan


At Provident, we don’t just look at your credit score when you apply for a loan. We take your circumstances, income and outgoings into consideration to understand whether the loan is affordable for you. This means you can still apply even if you think you’ve got a bad credit rating. You can start your Provident loan application online or contact us over the phone, and find out in minutes if you’ve been accepted in principle.