QuidMarket’s quick emergency loans are designed to help hard-working people meet their short-term financial needs when most needed. We consider all credit levels and are fully transparent about every aspect of our loans, so you never need to choose between borrowing the money you need and making the right decision for your finances. No matter if you have past CCJs or need an emergency loan for poor credit, we may be able to help.
You’ll find a great amount of information on our emergency loans for bad credit on this page, but if you have any questions, simply contact QuidMarket. Once you’ve made your decision, it’s quick and easy to apply for an emergency loan online.
- New customers can borrow between £300 and £600*
- Returning customers may be eligible to borrow up to £1,500*
- Flexible repayment terms between 3-6 months
- Emergency loans for bad credit available
- QuidMarket is an FCA Authorised responsible lender
- No hidden fees for emergency cash loans
- No guarantor or collateral needed
- Same day cash transfer wherever possible
- Quick and easy application online
- Decisions made by humans, not computers
*Loan amounts and repayment terms are dependent on affordability checks
What Are Emergency Cash Loans?
Simply put, an emergency loan is designed to be used in an emergency. Whether your boiler has broken and you need to pay for a replacement so you can have heating and hot water, or your car needs an urgent repair. Emergency loans in the UK all tend to be short term loans – sometimes known as emergency payday loans for bad credit.
If the reason you’re looking to borrow money isn’t for a necessary payment that cannot be avoided or delayed, bad credit emergency loans online may not be the most suitable option for you. Using emergency poor credit loans for non-necessary payments is not advisable, and you should consider other options first, such as using a credit card, borrowing from friends or family, or taking out a loan with a credit union.
However, if none of these options are available to you, and the payment cannot be delayed, our emergency cash loans are designed to be accessible fairly to as many hard-working people as possible. As a FCA authorised, responsible lender of quick emergency loans in the UK, we have our customers’ best interests at heart. We take a responsible approach to our decision-making process, which we’ll go into more detail on in the section below.
Emergency Loans For Bad Credit
Having a low credit score will usually make it more difficult to be approved for emergency loans, as well as all other forms of credit. This tends to be especially common with same day loans as the automated processes that are designed to speed up approval times will only look at your credit score, and if it doesn’t meet a minimum threshold you could be rejected. This may be the case even if you would be able to sustainably afford the emergency cash loan you’ve applied for.
Here at QuidMarket, we don’t think a credit score is the best reflection of your suitability for quick emergency loans, so we’re willing to look at the bigger picture. During our decision-making process, we’ll consider your regular income and outgoing payments you make each month to determine if you can sustainably afford the loan. What’s more, every application is manually underwritten – because we think the few extra minutes it takes for a member of our team to personally look over your application is worthwhile.
We wouldn’t approve emergency loans for bad credit in the UK if they would potentially lead you into further financial difficulties, and we will signpost services that can help if we suspect an applicant is in financial trouble.
As an FCA authorised and responsible lender, we will carry out credit checks, but are willing to consider all levels of credit. We also run fraud prevention checks to help ensure emergency payday loans for bad credit are not taken out in your name without your knowledge.
About Our Alternative Emergency Payday Loans for Bad Credit
We offer bad credit emergency loans online up to £1,500, dependent on affordability checks. Keeping the cost of your emergency cash loans down begins with ensuring you only apply for the amount you need to cover the necessary payment. Borrowing too much will mean you’ll pay interest unnecessarily.
In addition, we offer flexible repayment terms up to 6 months – and you can decide whether repaying in weekly or monthly instalments would suit you best. Repayments are the same every week or month; we offer fixed APRs and will never increase the price of your emergency loan after you have signed the agreement. Choosing a longer repayment term for your emergency cash loan can break up the repayment into more manageable amounts, but you should be aware that it will increase the total cost of your loan because interest builds up over time.
Before taking out emergency cash loans, you should first make sure that you can sustainably afford the repayments, as defaulting on emergency loans in the UK can have a negative impact on your credit file. At QuidMarket, we understand that circumstances change, and if you feel that you may not be able to make a particular payment on time, simply get in touch with us and we will do our best to make alternative arrangements to help you avoid this.
Are You Eligible For An Emergency Loan With QuidMarket?
You’re welcome to apply for an emergency cash loan online if you meet the below eligibility criteria:
- Live in the UK
- Over 23 years old, and under 65 years old
- Have a mobile phone (we send an SMS code during your application)
- Hold a UK bank account with a valid debit card (we run a verification check that takes 1p)
- Be in employment and take home at least £1,300 a month
If you’re eligible and are confident in your decision to take out emergency cash loans with us, it’s quick and easy to apply online. The application form for quick emergency loans for bad credit takes just a few minutes to complete on your phone or computer. If approved, we’ll transfer the emergency loan to your bank without delay using a Faster Payment, which means you could receive your loan around 10 minutes after approval.
Should you have any questions about our emergency loans, our decision-making process, repayments or anything else, you’re welcome to contact QuidMarket. We also have a page dedicated to FAQs where you might find your answer. We’re a fully transparent lender, so you can always rely on an honest and clear answer from QuidMarket.
Emergency loans are usually offered to those in need of quick cash in urgent situations, such as for unexpected boiler repairs. There are many lenders online who offer emergency cash loans for those in need, so if you require urgent money, there are plenty of options available for you. You can easily search for emergency loans in the UK and browse lenders to find a suitable provider for you. Make sure you check the eligibility criteria, rates, and terms to find a lender that works for your needs. Once you have compared a few lenders and found some that could offer what you need, you can inquire to get more information. It is crucial that you only apply to one to avoid damaging your credit score, so inquire widely, but apply sparingly.
There are many options available for those searching for emergency loans for bad credit. In the past, having a low credit score may have made it more difficult to be approved for emergency loans, but some lenders now offer affordability checks to help those in need. These checks typically review your monthly income, essential spending, and other financial commitments to determine whether you will be able to afford the monthly repayments. If you are looking for bad credit emergency loans in the UK, make sure you search online to find lenders that could help. Review their eligibility criteria to see if you fit their requirements, and inquire for more information before applying.
Emergency cash loans will vary across lenders, so the overall cost of the repayments will differ. However, it is essential to remember interest is included in the monthly repayment figure. The interest rate or APR is usually depicted as a percentage, so you should shop around online to find the best deals. The lower the percentage, the lower the cost of your overall repayments will be. To make your search a little easier, you can use online comparison tools to do the work for you and find you the most affordable emergency loans.
QuidMarket do not offer loans to those on benefits-only incomes, but are willing to help those with poor credit. However, there could be many online lenders of emergency loans in the UK that could help. If you are on income support and searching for a loan, you should aim to find lenders that offer affordability checks rather than credit checks. With this process, you will be required to supply evidence of your benefits income, essential spending, and any other financial commitments. The lender will use these to determine whether you will be able to sustainably make the monthly repayments. However, it is key to remember that this type of loan may be an expensive way to borrow, so you should only apply if truly necessary.