Spend in hours, not poundsDownload our new 118M8 app Spend your hours wisely

118 118 money helpers illustration

£1,000 Loan Bad Credit

118 118 money helpers illustration
  • Borrow £1,000 to £8,000
  • Repay over 12 to 60 months
  • Check eligibility with no impact on your credit score
Check my eligibility nowThis won't affect your credit score

Representative example: Amount of credit £2,000 for 24 months. Interest rate: 41.2% pa (fixed). 24 scheduled monthly payments of £123.64. Total amount payable: £2,967.43. Representative 49.9% APR.

Could a £1,000 loan be possible with bad credit?

If you are looking for a £1,000 loan with bad credit, the first thing to know is that a poor credit history does not always mean borrowing is out of reach. Some lenders look beyond a single score and also consider your current circumstances, your income and whether the repayments would be affordable for you.

With 118 118 Money, you can check your eligibility before making a full application, and it will not affect your credit score. If accepted, you could borrow from £1,000 to £8,000 and repay over 12 to 60 months with fixed monthly repayments.

A £1,000 loan is often used for urgent car repairs, replacing broken essentials, household costs or other unexpected bills. Before you borrow, make sure the repayments feel manageable not just now, but across the whole term of the loan.

Check whether £1,000 could be right for you
Use the eligibility checker to see whether you are likely to be accepted before you apply.
Check my eligibilityThis won't affect your credit score
person wearing sunglasses
Why people search for a £1,000 loan with bad credit

A £1,000 loan is often a practical borrowing amount for people who need help covering a specific cost without taking on more than they need.

A clear amount to plan around. If you know you need around £1,000, it can be easier to compare whether the monthly repayments fit your budget before you move ahead.

Bad credit is not always the full picture. A previous missed payment or a thinner credit history does not always mean an automatic no. Affordability and your current circumstances still matter.

No guarantor needed. 118 118 Money offers unsecured loans, so you do not need to secure the borrowing against your home or ask someone else to back the application.

Check first with no impact on your credit score. If you are worried about applying, the eligibility checker helps you see whether you are likely to be accepted before a full application.

Fixed monthly repayments. Knowing your repayment amount each month can make borrowing feel more manageable and easier to budget for over the full term.

118 118 money helpers illustration

3 simple steps to check your £1,000 loan eligibility

  • Check your eligibility with no impact to your credit score
  • Review your offer, set up your Direct Debit and sign
  • Receive funds in 15 minutes*
Check my eligibilityThis won't affect your credit score. *This can vary from 15 minutes to 2 hours depending on your bank.
118 118 money helpers illustration

What to consider before applying

Borrowing with bad credit usually means thinking carefully about both approval and affordability. Even if a lender is willing to consider your application, the more important question is whether the repayments work comfortably within your monthly budget.

Before applying, think about the reason for borrowing, whether the cost is urgent and whether there is a cheaper alternative. If you do need to borrow, it can help to start with an eligibility check so you can understand your options before making a full application.

It is also worth remembering that the total amount repaid will be higher than the amount borrowed because interest is added. Read the offer carefully, check the monthly repayment amount and make sure you understand the full cost over the loan term before you decide.

Read what our customers think about us

Trustpilot
£1,000 Loan Bad Credit FAQs

Possibly. A less than perfect credit history does not automatically mean you will be declined. 118 118 Money also looks at affordability and your wider circumstances before making a decision.

No. With 118 118 Money, checking your eligibility will not affect your credit score.

No. 118 118 Money offers unsecured loans and you do not need a guarantor to check your eligibility.

If accepted, you could borrow from £1,000 to £8,000 and repay over 12 to 60 months, depending on your circumstances and affordability.

Once approved and set up, funds could be received in as little as 15 minutes, although this can vary from 15 minutes to 2 hours depending on your bank.

Check whether a £1,000 loan could work for you

Use the 118 118 Money eligibility checker to see whether you are likely to be accepted before you apply, with no impact on your credit score.

Check my eligibility
118 118 money helpers illustration
118 118 money helpers illustration

Credit is subject to status, affordability and credit checks. Credit is only available to UK residents aged 18 and over. Terms and conditions apply.