Payday loans offer the best deal when they are paid back promptly, preferably within just a few repayments but if you want 12 month loans, the option is there too. This is because the longer you take to pay off the debt, the more expensive it will be.

Even though you will get a more favourable interest rate on a 12 month loan, in the end it will work out more than 1-3 instalments of a higher sum. If you’re still interested in taking out a 12 month loan, then we can help you find the best deal. Simply fill in our application form and we will contact our select list of lenders for you and broker a 12 month loan with the best possible repayment conditions for this short term loan.

Below you will find answers to some commonly asked questions.

Am I eligible for a 12 month payday loan with no credit check?

The simple truth is you can’t get a 12 month payday loan with no credit check. Whenever you see an advertisement for a ‘loan no credit check’ it is actually not completely true. All lenders must carry out some kind of credit check before lending money out.

With direct lenders though, you have more chance of being accepted for a loan because of the type of check they do. When you apply for a loan from a bank, they check your credit file that is compiled by a credit reference agency like Equifax. This file has a comprehensive record of all your past transactions, any debt you may have had, and much more. This makes getting a loan with bad credit extremely difficult.

Direct lenders of 12 month payday loans don’t check your past like this. Instead, they look at your current situation and are only really interested in your ability to pay the loan back.

How can I find the best 12 month payday loans?

There are thousands of direct lenders on the internet offering 12 month payday loans, but sifting through them in order to get the best deal can be a fair bit of work as you have to apply with each loan individually. One way to speed up the application process is to use a broker who specialises in these types of loans, like us.

We will take your information and then use our database to find the best direct lenders for you 12 month loan. Because we already have a direct link with these lenders, we can get you a selection of quotes to choose from in no time at all and this is one way to find the best payday loans. The best thing of all is that is obligation free, so if you don’t like any of the offers you don’t have to take them.

Is it possible to get a 12 month loan with bad credit and no guarantor?

Payday loan lenders will still consider giving 12 month loans to people with a less than perfect credit history and no guarantor, but to make sure you have the best chance possible, you should make sure that you match the following criteria:

– you are 18 years old or above and have proof of income to show you can repay the loan.
– you are a UK resident and you have a bank account

Matching these criteria means that you are already on your way to being accepted for a 12 month bad credit loan.
All you need to do then is to either apply for the loan directly with a lender or use our professional broker services to make things smoother. Please be as accurate and as truthful as possible with what you believe is a bad credit loan application, so that your chances of being offered a loan are the best they can be. Always remember these loans are high acceptance and being truthful will be looked at far more favourably. People with bad credit get payday loans.

Are 12 month loans from direct lenders same day payout?

Dealing with payday loan brokers and direct lenders is a much faster process than trying to get a loan from a bank. Once you have applied for a loan, you should normally find out if you have been accepted or not within 48 hours, in some cases it can be an instant loan if you’re credit is acceptable enough to become an auto decision, but whatever happens it will be quick. If you have been successful, the lender will have an offer for you with the terms and repayment schedule laid out for you. If you choose to accept the offer, the funds are usually transferred into your bank account on the same day.

12 month £1000 loan examples

Total Amount

Length borrowed for

Monthly APR example Representative 1266%

Loan total

Monthly repayment

£1000 loan

12 months 8% £1592.34 £132.70

£1000 loan

12 months 12% £1937.24 £161.44

Please remember these are examples only and no way indicate what offer you may receive. These are just £1000 loans over 12 month calculations that are designed to to indicative only.

What happens if I have problems paying my loan?

The penalties for missing loan payments on a 12 month poor credit loan vary from lender to lender, and loan to loan.
Possible things that you could face are extra fees and increased interest rates so it’s paramount that you know exactly what you are getting into before you accept any offers from lenders. Money Service Advice offer some free information that will really help you if you’re struggling to pay back a payday loan:

You should also be very, very honest with yourself about your ability to follow the repayment schedule set out by the lender, as failure to keep up with it will almost definitely lead you into deeper financial strife.

What other options do I have other than a payday loan?

Payday loans have high interest rates. It’s how lenders balance the risk of offering money to people with bad credit scores.
Bank overdrafts are much more favourable in this respect for short term fixes, as are bank loans for larger amounts, but if you have had problems with debt in the past, you might find it a challenge getting this kind of help.

If you are only in need of a small sum of extra cash in the short term, selling old clothes and appliances that you don’t use anymore could be a viable alternative to a payday loan, as could taking on some extra hours at work. You could even consider selling your car if you don’t need one for work, that’s much cheaper than a logbook loan.

Planning your budget and cutting back on luxury items like takeaways and chocolate can save you more money than you would think, and shopping at a cheaper supermarket for a while can also make your money go further. So if you are not in a hurry for a cash fix, perhaps it would be a good idea to try some of these things before trying to get a 12 month bad credit loan.