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Very Bad Credit Loans From a Direct Lender

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  • 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.

Looking for a direct lender instead of a broker?

If you are searching for very bad credit loans from a direct lender, you may want a straightforward application with the lender making the decision directly. 118 118 Money does not ask you to involve a friend or family member as a guarantor.

118 118 Money is a direct lender. We assess your application ourselves, carry out credit and affordability checks, and if you are accepted, we lend to you directly.

What no guarantor means

A no-guarantor loan does not require another person to back your application. You apply in your own name and the decision is based on your own circumstances.

Having very bad credit does not automatically mean you will be declined, but acceptance is never guaranteed. Lenders may look at more than one score, including affordability and your wider financial situation.

Check your eligibility before you apply
See whether you are likely to be accepted without affecting your credit score.
Check my eligibilityThis won't affect your credit score
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Why this type of loan appeals to borrowers

People searching this term often want a lending process that feels clearer and more direct. Common reasons include:

Direct decision-making. You want to deal with the lender that is actually assessing the application.

No guarantor needed. You may not want to involve friends or family in your finances.

Clarity. You want to see the loan range, repayment term, and eligibility process up front.

Confidence. An eligibility check can help you understand your chances before a full application.

Speed. Once approved and set up, funds could arrive quickly, depending on your bank.

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3 simple steps to get started

  • Check your eligibility with no impact to your credit score
  • Set up your account, 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.

What a direct lender may look at

When you apply, lenders typically look at your credit profile and carry out affordability checks to help make sure repayments are manageable. This can include details like your income, regular outgoings, existing commitments, and overall financial position.

That is why an eligibility check can be a sensible first step. It helps you understand whether you are likely to be accepted before moving to a full application.

Why borrowers use 118 118 Money

We offer loans from £1,000 to £8,000 with repayment terms from 12 to 60 months, depending on your individual circumstances. If you are accepted, you can complete the process online and funds could be received in as little as 15 minutes, although timings can vary by bank.

As with any borrowing, only take out credit if it is affordable and right for your situation.

Read what our customers think about us

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Very Bad Credit Loans From a Direct Lender FAQs

A direct lender makes the lending decision and provides the loan directly, rather than acting as a broker. 118 118 Money is a direct lender and carries out credit and affordability checks.

Yes. Our eligibility check helps you see whether you are likely to be accepted without affecting your credit score.

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

No. You apply in your own name and the application is assessed on your own circumstances.

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

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Ready to check your eligibility?

See whether you are likely to be accepted before you apply. It won't affect your credit score.

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