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Representative Example: Loan Amount – £200 | Borrowed for 10 days | Interest: £9.89.
Total Repayment: £209.89 (Fixed) | Representative APR: 728.9% 
We are an Introducer Appointed Representative of Quint Group Limited, who are a credit broker not a lender. Cashcomet.co.uk Introduces customers to Monevo Ltd for the purposes of obtaining a loan. Cashcomet.co.uk does not provide any loan or consumer credit products directly.

 

Personal Loans

Moving Forward Starts Here

A personal loan can help you take control of your finances.

Personal Loans

See Why They’re Happy

Our customers rave about On Stride Financial. We’re just happy to help.

Why Choose Cash Comet

We offer more than just personal loans…

Loan Customisation

Choose a loan option that works best for you.

No late fees

What you see is what you get – no hidden or late fees.

Dedicated Customer Service

It’s our job to make sure your questions are answered.

Unsecured Loans for Bad Credit: Finding the Best Loan Options

As loans have become increasingly important to man and his businesses over the years, the profound effects brought about by the increasing demands for loans left many borrowers in a difficult position. As the number of borrowers hoping to get loans continuously increased so did the number of those who were unable to pay off their debts. Because of this, traditional lending firms and institutions have decided to take measures aimed not only at significantly reducing the number of delinquent accounts, but also at easily segregating borrowers who will likely be capable of paying off their loans without any problem from those who may not even be able to pay off their loans at all. With this credit scoring system, individuals with income levels that fall below what the lending institutions deemed sufficient were consequently given poor credit scores, while borrowers who often missed out on their payments — regardless of their reason — found their records automatically reflect bad payment histories.

Although this system proved to be extremely helpful to the lending institutions, it left borrowers with poor credit in difficult situations. Since borrowers with poor credit scores and bad payment histories were automatically precluded from taking any more loans from any of the legitimate standard lending firms, they were often left with very few and often uncomfortable alternatives. Because borrowing money from close friends or members of their family is not always possible, many borrowers with poor credit scores were left with no other choice but to take underground loans from those lending illegally. And while this option does allow borrowers the temporary financial relief that they eagerly seek, the long term repercussions brought about by the excessively high-interest rates inherent to these loan solutions often leave borrowers in neverending difficult financial situations. As more and more borrowers fall into the same financial trap due to the unforgiving credit scoring system, the steadily growing number of borrowers with bad credit has, later on, paved the way for the creation of an entirely new market.

why choose unsecured loans

Getting Unsecured Loans for Bad Credit

As demands for more reasonable, affordable, and secure loans continued to increase in the newly created market of borrowers with bad credit, lending firms and institutions have soon taken notice. With the evolution of the lending industry and the latest advancements in online security and technology, innovative new financial services were soon introduced in the lending market. Through these innovative new loan services, borrowers finally have better access to more reliable, much more affordable, and far safer loan solutions. Among the most important of these innovative new loan services are the unsecured loans for bad credit. With unsecured loans, borrowers now have easy access to different loan services even despite their bad credit. Because applications for unsecured loans do not ask borrowers to submit impossibly hard to procure documents and requirements, borrowers are ensured must faster approvals and more efficient services. Through innovative new loan solutions such as unsecured loans, borrowers need not have to enlist the help of any guarantor, nor do they have to submit any collateral just to get approval. Unlike application procedures for most of the conventional loans that are being offered by many standard lending firms, applications for unsecured loans do not entail waiting for long hours in long lines just to submit applications, nor do they involve even longer waiting when it comes to approvals as well as the release of approved loans’ funds. With innovative new loan solutions such as unsecured loans, borrowers now have better financial alternatives, even despite their bad credit.

How to Get Unsecured Loans and Instant Loans

Through the latest advancements in technology and online security, as well as the continued evolution of the lending industry, borrowers with bad credit now have access to more convenient and much more affordable financial services. With unsecured loans, instant loans, and other innovative new financial services, borrowers can now easily accomplish their loan applications entirely over the internet. And because each step of the application procedures required in procuring unsecured loans can be completed online, borrowers now have the convenience of being able to submit their applications from anywhere, at any time. Through online applications for unsecured loans, borrowers can now simply submit documentary requirements over the internet. And since applications for unsecured loans are submitted online, they are processed as soon as they are submitted.  Approvals for loan applications, on the other hand, can now be expected in just a few minutes after they are submitted; while the release of approved loans’ funds can now be completed even on the same day that the applications were submitted.

Because of these features of unsecured loans and instant loans, they often make great loan alternatives in times of urgent financial crises. In situations that involve unexpected expenses such as that of hospital bills, car repairs, urgent home repairs, and other similar expenses, borrowers may easily avail of unsecured loans and instant loans to address their ongoing financial conditions. But while unsecured loans and instant loans make good loan options in times of tight financial situations, they do not make good resolutions to more complicated financial conditions. Since unsecured loans and instant loans are small loans that are normally paid over in short term payment conditions, they do not make good financial alternatives in situations that require loans in much higher amounts.

Taking Unsecured Loans from Direct Lenders

Many borrowers often believe that by not having to pay for loan brokers’ fees, they are saving money by borrowing from the lenders directly. What is unknown to many, however, is that because loan brokers have a network of connections to many various lenders across many various areas, they consequently have comprehensive access to the many various promotions and discounts that are being offered by lenders across their many different lending services. Because of this, borrowers who secure loans with the assistance of loan brokers are actually ensured far more benefits and much more savings in the long term.

why choose unsecured loans

10 Tips for Borrowing Personal Loans

Ask Questions.

If you have any questions or concerns regarding your personal loan, don’t hesitate to contact your lender’s customer service department. It’s their job to make sure there are no issues with your loan.

Make Your Payments On Time.

Most lenders charge late fees for missed or late payments. Try to make your payments on time to avoid any unexpected charges. If you know that you may miss an upcoming payment, contact your lender beforehand to come up with an alternative solution.

Repay Your Loan Early.

If your lender doesn’t charge an early repayment fee, consider paying off your loan early. Doing so could greatly reduce the interest accrued on your loan.

Don’t Borrow Too Many Loans.

By borrowing too many loans, you run the risk of falling behind on payments and acquiring many late or missed payment fees. Only borrow what you know you’ll be able to repay comfortably.

Read Your Contract.

Make sure you read and understand the contract before signing your loan agreement. Many of your loan’s rates and terms will be explained here in detail, so it’s an important document to review before proceeding.

Check Your Information.

Before submitting a loan application, review your information to make sure everything is accurate. This will accelerate the approval process and allow the lender to make the most accurate lending decision regarding your application.

Review Your Credit Rating.

Borrowers with good credit ratings will typically receive better rates than those with less-than-perfect credit. Your credit rating will also let lenders know if you’re a high- or low-risk borrower.

Read the Eligibility Requirements.

Not everyone is eligible to apply for a personal loan. Before spending too much time on an application, check the lender’s eligibility requirements first to see if you qualify.

Shop Around.

Make sure you shop around and compare APRs before applying for a personal loan. There are several price comparison websites available that can help you find a lender that you’re most comfortable with.

Find the Right Loan.

There are several types of personal loans you can apply for: secured, unsecured and guarantor loans. Visit our Personal Loans page to learn more about each loan type and which one best suits your needs.

Here You can see some Examples of Competitors

Loan amount
£100 - £1,000
Loan term
1 - 6 Months
CUSTOMERSCORES
Good short term plans with great rates.
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Loan amount
£100 - £2,000
Loan term
1 - 6 Months
CUSTOMERSCORES
Excellent service and rates.
Apply Now

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5 most recent personal loan reviews

Review of Cash Lady

I was so surprise about service, it was quick simple and easy but not forgetting the friendly staffs. Each and everyone I spoken was so helpful and ready to go extra mile. Really good, Gooood job.

Review posted by Yusuf Abboud, Dorney

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Cashback Loans

I was very worried about taking out a loan having never done this before but the girl made it so easy. She was nice to talk to, everything was made clear and precise, no problems whatsoever. Providing you keep up the payments I would recommend this to anyone. They kept myself and the guarantor informed every step of the way. Would definitely use Cashback again. I can now build my credit score. Any problems I can ring up and you have a personal plan. Great experience.

Review posted by Claudette Osborne, Kettering

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Little Loans

Found myself looking for a guarantor car loan as I'm only 19 and so I didn't have any good credit against me to get a normal one. Not only was Little one of the lowest interest loans I found but they were really helpful and it only took 2 days from applying to getting the money in my account. Brilliant service, would definitely recommend.

Review posted by Alex Kidd, Hull

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

All our reviews are gathered from Trust Pilot to ensure authenticity.