Loans for Bad Credit

Loans for Bad Credit

Can I get a loan from Pounds to Pocket?
This question depends on the potential borrower. Pounds to Pocket requires borrowers to be at least 18 years old, along with having a valid bank account, evidence of employment and UK residency. As far as credit rating, we consider all applicants based on their individual credit history and associated risk.

How long does the lending process take?
This is variable based on the potential borrower's credit history and the lender's evaluation process. At Pounds to Pocket, we perform an individual status review with Credit Reference Agencies for every application received. Depending on an applicant's credit history, this process is usually completed in under 30 minutes (may take additional time),¶ and if the borrower is approved, funds can be delivered to their account within 10 minutes after approval.§

What are the lending options at Pounds to Pocket?
Pounds to Pocket offers its customers the LoanBuilder, a personal loan option created to cater to each individual borrower's unique financial situation. With variable loan amounts available up to £2,000,† customers can apply for a loan capable of handling a variety of situations and circumstances. And thanks to fluid repayment periods anywhere from six to 12 months, customers can select a loan that suits their needs without straining their ability to repay.

What can I use a loan for?
We recommend to all of our customers that loans be used in emergencies. While the definition of 'emergency' can certainly change depending on who you ask, we define them as unexpected complications with substantial costs attached. Whether this means auto repair, home reconstruction or some other unplanned for emergency, it's important to remember that these short-term loans should be taken on only when absolutely necessary.

Does Pounds to Pocket report to the credit industry?
Short answer: Yes.

Long answer: Pounds to Pocket reports its customers' repayment habits as positive or negative, depending on their ability to repay their loans on time. Specifically, if a customer makes on-time payments and completes their repayment schedule by the planned date, Pounds to Pocket's report should reflect a positive change to their credit score. If their payments are late, chances are that the Pounds to Pocket report will impact their rating negatively.

Does Pounds to Pocket offer loans shorter than 6 months in duration?
No we do not, but you can visit QuickQuid for more information about the short-term loans available from our sister website. Borrow over 1, 2 or 3 pay periods, and if approved, cash will be sent within 10 minutes after approval.