WARNING: ‘PAYDAY LOANS NO CREDIT CHECK’ as search on our site do not legally exist. You must receive a credit check to receive finance in the UK. If you believe have bad credit scores, the best thing to do is send an application to specialist subprime lenders who can review the situation carefully for you. While payday loans have high acceptance rates and are available to people with bad credit, they are not no credit check guaranteed loans.

While payday loans for bad credit are widely available these days, it doesn’t mean that no credit check will be performed by the lender. In fact, it is required by the Financial Conduct Authority that all lenders perform some kind of check prior to granting a short-term loan, and not adhering to these guidelines is actually against the law. Any responsible lender will do the best they can to ensure that they are not making a potential customers financial situation worse when considering their loan application and so will perform their own individual credit checks.

Where a direct lender’s checks differ from that of traditional financial institutions is the focus of the search. Payday loans for people with bad credit are possible because direct lenders perform their own particular brand of credit checks, ones that are more concerned with how your finances measure up at the present time rather than what may have happened a few years ago.

If you are able to prove that you have got yourself back on your feet and resolved your old debt problems, there’s no real reason why a payday loans lender wouldn’t seriously consider your application valid. When applying for a payday loan with bad credit, it is of the upmost importance that you are upfront about any credit problems you have had in the past, and also be truthful about your current situation. Both with the lender and with yourself.

Will my past bad credit activities affect my chances of getting a bank loan?

In one word, yes. Trying to attain a bank loan after you have had problems paying off previous debt is a very difficult task and I’ll try to explain why.

There are organisations out there called credit referencing agencies or CRA’s for short. It’s their job to compile a credit file on you and in this file, amongst other personal information, is a record of all your previous transactions and lending, both positive and negative. Unfortunately, any financial struggles with debt you may have had will be on there and that will damage your overall credit score. It is this score that is used by mainstream credit agencies and banks as part of assessing your eligibility for a loan, so you can see why this will have a negative impact on your chances if you have a poor credit history though there are some loans for bad credit score applicants.

It is still possible to borrow money with bad credit through a bad credit payday loan. As stated earlier, direct lender’s credit checks are not as stringent as bank loans and they are not as reliant on a CRA credit file when it comes to making their final decisions. The increased accessibility of payday loans, along with the streamlined application process, has made them very popular in spite of the increased interest rates associated with them.

Where can I find a quick loan with no credit check?

As we already explained, lenders are required by law to do some form of credit check on every potential customer before they loan them money. Therefore loans with no credit check or guaranteed loans simply do not exist unless they are being supplied by an unregistered and illegal loan shark.

If you decide to use a payday loans broker to help you get a better deal on your loan and they tell you that they won’t perform a credit check, they are telling the truth as they are just a broker and it is not their job to do the necessary checks. Instead they will get your information to various lenders who will then carrying out their own check depending on their specific criteria.

Payday loans generally have a high acceptance rate but you still need to prove that you have enough money coming in regularly to repay the loan, be over 18 years old, be a full time UK resident, have a current bank account, and don’t have any present issues with outstanding debt. If the ‘soft credit check’ taken out by a direct lender proves this all to be true, they might make you an offer for a quick loan. If accepted by you, the funds will then be transferred quickly into your account.

Are there such things as payday loans with no guarantor or credit check?

Attaining a payday loan with no guarantor is possible but as I think we have made quite clear now, you can’t get a legal loan without a credit check. To be granted a no guarantor loan with reasonable interest rates you would be required by most lenders to have a clear credit history, or at least be able to show that you are far more financially stable than in the past and even then it is not a guaranteed loan.

This doesn’t mean that you can’t get a no guarantor loan with very bad credit as there are so many lenders out there these days you would probably find a deal, but the interest rates for such a loan could be quite high to balance out the risk.
A guarantor loan is a much more straightforward affair and can be dealt with much faster and with lower interest rates, so if you have someone with good credit willing to back up your application, this would be a better option.

Which lenders offer the best payday loans with no CRA search instantly?

In fear of being repetitive, I have to state again that whenever you apply for a loan, whether it is a bank loan, building society loan, short term loan, or instant payday loan, a credit check will be taken out, as it is required by the Financial Conduct Authority. But the more people you apply with, the more chance you have of finding the best payday loans.

I feel this can’t be stated strong enough as there are still people that will be attracted to loans advertised as having no credit check and find that at best they are disappointed, and at worst have been taken for a ride by an unethical loan shark.
If you think you have been offered a loan with absolutely no credit check and you are suspicious of a lenders credentials, you can check if they are listed on the financial services register and if they are not, it should serve as a very large red flag.
Unregistered lenders offering loans with no credit check can be reported at reportaloanshark@stoploansharks.gov.uk.

I’ve seen a registered company advertising payday loans no credit check, how is this possible?

Advertisers will often mask the true meaning behind their words, this is true in all product advertising. So, when registered lenders say ‘no credit check’ what they actually are referring to is the exact same stringent checks used by banks.
In other words, direct lenders are saying that they won’t damage your current credit score with their checks and only want to ensure that you are capable of making the repayments they set out on time and in full. It doesn’t mean that they won’t check the details and information you supplied them with before making a decision on your loan. They have to as part of their guidance from the FCA. This consumer credit guidance can be found here: https://www.fca.org.uk/publication/finalised-guidance/consumer-credit-being-regulated-guide.pdf. To summarise, lenders have to do their due diligence to ensure a consumer can afford the credit. This means a credit check always.