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Which payday loan is best for
people with bad credit?

Which payday loan is best for people with bad credit?

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400 loans that you can count on if you have bad credit

A loan that is worth 400 pounds certainly doesn’t seem like much but you might be surprised to know that banks and other conventional lending institutions won’t simply lend you this small amount of loan if you are not credit worthy. To put it simply, it would be extremely difficult and sometimes even futile for you to apply for 400 loans and obtain an approval decision from a certain bank or credit union if you have bad credit.

Having a solid credit rating as in important eligibility criteria that majority of traditional lenders are looking for from their borrowers and if your credit score is below 550, it would be pointless to find a bank or financial institution that will work with you and fund your loan request because there just aren’t any of them that exist today.

Now if you are someone who has a bad credit rating because of past financial mistakes and credit mismanagements, don’t be disheartened just yet because there are still safe and legal options that you can consider if you are looking to obtain 400 loans. So what are they anyway and how can you secure them? Below we will show you how and more so you can enjoy the funding that you urgently need without your problematic credit rating getting in the way.

why choose 400 loans

400 loans for Bad Credit: The quick and easy options

Now if you are looking for 400 loans that will cater your need for funding despite your bad credit rating and provide you with effortless application processes at the same time, there are a number of options that you can consider. These loans are popular solutions to emergency situations and are widely used all over the UK because of the exceptional ease, speed, and convenience that they provide to borrowers of all credit types.

  1. Payday Loans – 400 loans from payday loans are mainly used for emergency purposes. This is because completing a payday transaction just takes a matter of minutes from start to finish and the requirements to become eligible are so few and easy to meet that even people who are unemployed and have bad credit can still get approved. And if your application becomes approved, you can enjoy same day funding or wait for just a couple of days for the money that you requested to be ready for use. The loans however, have very short-payment periods like 30 days and you will need to pay the money that you borrowed in one lump-sum payment plus its interest rates in the agreed date.
  2. Doorstep Loans – Also known as home credit loans or home collected loans, doorstep loans are the most convenient forms of 400 loans in the UK. We said convenient because you can have 400 pounds cash delivered right at your doorsteps without breaking a sweat. All you need to do is apply from a doorstep loan lender online or via the phone and an agent will then visit your home at an arranged schedule. The agent will finalize the details of the loan deal with you at your own living space and will present a loan agreement for you to sign. After your signed the contract, 400 pounds will then be handed to you right then and there. And you don’t even have to leave the confines of your home to clear your debt as the same agent will come by your home every week or twice a month to collect the small repayments until you have paid back your entire loan.

Qualifying for payday loans and doorstep loans is certainly easy and virtually anyone can get approved regardless of their credit worthiness and status as long as they have some source of income that can genuinely afford to pay back the money that they will borrow according to an agreed payment term. The types of 400 loans also provide speedy and convenient application processes that make them all the more worthwhile to use.

However, you must bear in mind that in exchange for these great features, you will need to cover interest rates that are higher than most loan options available in the UK lending market and this is something that you need to consider heavily especially when you intend to use the loans multiple times in a short span of time.

400 loans for bad credit: The cheaper options

Now it’s certainly possible to obtain 400 loans without the high interest rates that come with payday loans and other short-term bad credit loan options. The two viable ways in which you can go about this include:

  • Provide a guarantor – Find someone who is close to you like your mom or dad or your best friend. Make sure that the person possesses a solid credit rating, a reliable source of income, and is a home owner if possible. Then ask this person to co-sign your loan deal and become its guarantor. Through this method, you will be able to enjoy a better chance of getting approved for a 400 pound loan that provides flexible payment terms and interest rates that are significantly lower than payday loans. Bear in mind however, that the person who co-signed your loan agreement as a guarantor will be legally liable to pay back the loan if you default from it. Be sure the person understands this serious condition when you ask him or her to become your guarantor.


  • Secure it with an asset – If you have bad credit, the best way to minimize the costly interest rates that lenders will normally levy on your loan deal is to secure it with an asset like a bank account savings, property, or vehicle. This is because the lender will feel confident that the money it will lend you will be paid back since there is an asset backing it up. Thus, when you decide to default from your loan, the lender cans simply seize that certain asset and sell it to recover the money that it lost from you. Because of this kind of assurance and security, lenders are more willing to offer borrowers with favourable interest rates and payment terms even if they have bad credit.

why choose 400 loans


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See How Others on the Market Compare

Loan amount
£100 - £750
Loan term
1 - 35 Days
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Loan amount
£100 - £2,000
Loan term
3 Months Only
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Struggling Employees

Employees are the drivers of the global economy. They comprise a large percentage of the workforce, and the world will stop without them. If you’re going to analyze deeply, you’ll realize that all of us are employees. We are working for someone else – be it a boss, an organization, or a contractor. Employees are good demographic points because they tend to experience financial troubles more often. It could be that employees are also parents, or they need quick cash to survive until the next payday. In fact, the borrowing habits of employees empowered payday loans (that’s why they called ‘payday’). Employee-centric payday loans don’t have much difference from the cash advance programs of the past, though some lenders have made adjustments. Employee payday loans probably have a smaller interest rate stretched over a manageable repayment period. Lenders can also work hand in hand with employers to increase awareness for employees.

Freelancers on A Budget

The global freelancing community is starting to gain important traction this 2017. In fact, thousands of people are now resorting to freelancing because of the awaiting opportunities in the market. Freelancers are like hunters – they’re actively chasing big game, occasionally hitting and, oftentimes, failing. New payday lenders have understood the need for freelancer-specific loans, though only a few of them are following suit. Perhaps freelancing still needs to be recognized as a tangible income source in the payday lending arena. Another angle is the way people are tagging themselves as ‘freelancers’ even though they don’t have any jobs or income sources. This is why some lenders will look for additional income proofs whenever they encounter freelancers applying for payday loans. Nevertheless, we’re going to see lots of payday loans geared towards freelancers on a budget this year.

Startup Entrepreneurs

Being an entrepreneur today is no longer a side path – it’s necessary for the betterment of your life someday. Once you have a winning idea and transformed it into a plan, you can focus on acquiring capital. If your startup business is not that big, you can settle for a payday loan. Payday lenders can release your money in just minutes. They won’t care about your credit rating or the nature of your business (somehow). What they want to know is if you’re capable of repaying the loan within the agreed time frame. Once you got your payday loan, your business operation can be ignited and you’ll start raking profits in no time. Just remember to allow some of those profits towards your loan repayment. An unpaid payday loan can bring too much stress.


You may think that big-time investors are going after large, bank-issued loans. Well, you’re right. A stock investor, for example, needs big loans if he wants to participate in a growing market. The same can be said for antique collectors and coin enthusiasts. However, we can’t deny the fact that investors also start small. In this sense, small-time investors can use payday loans to fund their investments. Whether they make a killing or not, investors can see potential attention from new payday lending companies.

Once you understand all of these demographic points, you’ll know how lenders are adjusting their operations strategically. At one point, they may pursue better marketing efforts while compromising other areas. Despite this, it’s still important to find a lender that attains a great form of balance among all of these demographic areas.

5 most recent personal loan reviews

Review of H&T Finance

So friendly and so easy to be accepted. I needed a loan to help out a family member and I've been able to do so, so quickly. Daniel at H&T was so polite and helped me understand everything thoroughly.

Review posted by Aimee Walls, Carlisle

  • Customer Service
  • Flexibility
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Review of Post Office Money

Post Office, thank you so much! I will definitely be recommending you for your helpful and professional support, from receiving my completed application you were very quick in processing my application. I applied in one day and by the second had my loan. You gave clarity when needed and made me feel that I was not just a number. Thanks again.

Review posted by Lisa Davies, Sunderland

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Street UK

My experience with this great team has been superb, I've had five star quality service since day one and my application processed rapidly, there is no messing about and they provide real fast and strong customer service which I am happy about, I know where to come next time, thanks for all your help.

Review posted by Joe Irving, Leeds

  • Customer Service
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  • Ease Of Use
  • Value For Money
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