You are left feeling pretty lost and hopeless right now, you need a quick cash injection as payday is next week but previous bad credit is hindering you. You can pay the loan back, that isn't a problem but unfortunately your credit history doesn't take that into account, so traditional loan lenders won't consider you. It's a pretty desperate situation, your car has broken down and you need to get it fixed so you can go to work and well, function like normal.
How can a short term loan help you?
Short term loan lenders will often help people with bad credit as they realise your history doesn't define you and sometimes we all need a helping hand. The maximum amount of time you can borrow for is 2 years so while it safe guards you from drawing the process out too long, it also makes sure your monthly amounts are easy to pay back.
Flex Repay UK have you covered.
Applying for a loan can be a ghastly process and often you end up disappointed through rejection. Flex Repay UK offer an eligibility check whereby you can know within seconds if you are likely to be approved *before* having to fill in the application form. It also doesn't have any implications on your credit history so don't worry if you aren't eligible, it won't show on your credit history.
How much can you borrow?
Flex Repay offers loans of up to £5000 but you can choose bench marks of each thousand, it depends on what you need. The general rule of thumb is to only borrow what you need, this will help you keep the interest down and mark the loan affordable to your needs. The maximum amount of time you can borrow for is 2 years, so bear this in mind when choosing how much you want to borrow.
What can you use a Short Term loan for?
There are many reasons why people may need to borrow money. With wage amounts still not meeting the demands of the economy, many people find it increasingly difficult to save money while paying household bills. So if there is an unexpected bill or problem, there is little they can do to afford to pay it.
Extremely common examples are Car repairs (Whether it is from an accident that isn't covered by insurance, repairs following an MOT or breakdown repairs. Even needing new tyres can set you back a few hundred), kitchen or household appliances (It was only a few months ago I had the same problem and my washing machine decided to go poof, now being a family with a toddler there is no way we can go without a washing machine for too long so it's a made race to get a new one before the washing starts piling up. Of course having your freezer go down is equally as stressful, you know there is a limited amount of time before it starts to defrost and time is ticking! Why can't it be something small like the kettle!)
You may want a short term loan for a less stressful reason like a holiday or home improvements. More and more people are opting to use short term loans to pay for holidays so they can pay monthly as many travel agents don't allow this option.
How fast can you receive the money?
Quicker than you think! Once your application has been approved you could see the money in your account the same day, in some instances, within the hour! If this in an important factor to you, consider the application process is quick and can be accepted straight away so the potential for having access to the money straight away is higher than most lending companies. Some companies take over 24 hours just to process your application but Flex Repay UK have been processing loans for years so they are top of their game and often applications will be given instant decisions.
Why use Flex Repay UK?
As they are a broker they can access lenders to find you the best deal, process your application quickly and get the money to you as quickly as possible.
They know life waits for no one so you shouldn't have to wait either.