Explore the Benefits of Bad Credit Loans from a Direct Lender

A bad credit situation is always concerning, as it can disturb your personal finances for a very long time. Actions taken in a timely manner are the first steps to improve your financial situation and credit rating. Make timely payments of your obligations, and things will be fine.

What if you experience a cash crunch during a bad credit situation? Well, a popular solution is bad credit loans from direct lenders, which can help you find the battle. There are several factors that make these loans dependable.

The duo of direct lending and bad credit loans work well

What makes bad credit loans even more special is direct lending. Unlike traditional lending companies, direct lenders have a different approach. The online loan solution providers are much more borrower-friendly. For them, the rules are not the primary concerns, but the concerns of the borrowers are.

How do bad credit loans by direct lenders work?

When an applicant applies for a loan for bad credit, the lender needs to study a few factors. The financial history of the past six months plays a decisive role. If the loan applicant has improved his finances during this duration, the lender gives instant approval.  

Improved finances mean the fund seeker’s bank statement should show that he has started making timely payments of his obligations.  After all, the lender needs to be sure about the timely repayments of the funds. The higher the creditworthiness of the borrower, the faster the loan will be deposited.

Besides the six-month financial history, the applicant should have a strong current repayment capacity. If only these two factors are present, the direct lender instantly approves the funds. Once accepted, the money reaches the borrower within 24 hours maximum.

So, the benefits are…

Let’s talk about the benefits of bad credit loans that practically solve the financial issues of your life.

  • An instant answer to money crisis –

Cash crunch, and that too with a poor credit score? That can be a real mess when you are struggling with a last-minute requirement. Loans with bad credit by a direct lender can make a real difference for two reasons. One is you get funds, the second is you get funds despite a bad credit rating.

You undoubtedly know how tricky it can be to expect instant help from a traditional lender or bank. Your credit rating issue can only make them reject your application. In direct lending, you only have to prove a repayment capacity to borrow money.

  • Instant approval decision shows empathy – During bad times, the most crucial factor is timely help. Direct lenders understand the needs of every borrower. This is why they plan their lending policies in such a way that they prioritise borrowers.

Yes, the lending criteria do exist, but they are quite basic and sufficient to prove creditworthiness. Once you give proof of a regular income during a loan application, the next thing you see is the approval message. This is how the flexible, borrower-friendly policies of direct lenders work.

  • No guarantor rule despite bad credit – Direct lending believes in spreading a healthy financial atmosphere. It wants to boost not only your financial condition but also your morale. You will have to borrow funds on your creditworthiness.  

Certainly, there is no space for a guarantor in your loan if you have an income to make repayments. They promote loan products like loans for bad credit with no guarantor, along with other loan features. This can be like getting loans with no fees from a direct lender. It means you can borrow hassle-free and stress-free.

  • Pre-analyzed offers for existing borrowers – If you borrow funds with your previous lender, you indeed get higher flexibility. This can result in a lower rate of interest or longer loan tenure. Every lender keeps some special offers for existing borrowers.

Direct lending companies are always concerned about their loyal customers. The longer you stay with a loan company, the higher the rewards. Extramilefinance too has multiple special offers for its borrowers. You can know more about it here.

  • An important contribution to credit mix – If your low credit rating is due to the overuse of a specific financial product, it disturbs your credit mix too. For example, people usually default to credit card use. They overuse the limit and fail to pay on time. As a result, not only does their credit rating go down, but the balance of the credit mix also gets disturbed.

With loans for bad credit people, many benefits come encapsulated with the loan deal. Deal with money crises, improve your credit score, and fix your credit mix issue. Isn’t that a great deal? A versatile financial solution that helps fix your personal finances all-inclusive.

  • Improve credit rating – Bad credit loans give you a golden chance to improve your credit score. How? The loans come with customized deals. As a result, the interest rates and repayment act are pocket-friendly. This helps you make timely payments.

Every time you pay an instalment on time, your credit rating rises. Isn’t it great to imagine a happy, normal life again? Thanks to the flexible approach of private loan lenders in the UK.  The days of struggle are over, and you can work on your finances again.

  • Increased potential against high-rate deals – During bad times, any random finance company may try to sell an expensive loan offer. But with a direct lender, you can get loans for bad credit at a lower rate. This will save you from getting into a debt trap.

Getting into a poor credit situation is not a crime, only a temporary condition. A little support for your finances during tricky times will help you get back to normal life. If you don’t want to end up taking the wrong deal, apply now and get your funds fairly today.  


Indeed, you can expect so many things with bad credit loans after reading the points above. Thanks to the liberal culture of direct lending, which offers financial opportunities to borrowers, innovative loan solutions help people lead a peaceful and stable life. If you are in a financial fix, let a direct lender handle it with a customised loan offer.

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