Extremely bad credit loans

If your credit history isn’t perfect, you might feel like there aren’t many options when you need to borrow.

At Dot Dot Loans, we know that life doesn’t always go to plan. A low credit score doesn’t tell the whole story. Whether you’ve missed payments, had a County Court Judgment (CCJ), entered a debt solution or defaulted in the past, there may still be short-term loan options from FCA-authorised lenders.

Extremely bad credit loans are for people who’ve had trouble borrowing in the past and may not be approved by mainstream lenders. They can offer a short-term way to manage urgent costs, like car repairs, surprise bills or important home expenses, when there aren’t many other options.

How Do Extremely Bad Credit Loans Work?

Some lenders specialise in helping people with extremely bad credit. Rather than focusing only on your credit score, they look at your current financial situation. This might include checking your income, spending and whether you can realistically afford the repayments. Tools like Open Banking or affordability assessments can help them build a fuller picture.

These loans can be either unsecured or secured. Unsecured loans don’t require any collateral, but the interest rates are often higher. Secured loans are backed by property or another asset. This can make them slightly easier to get, but there’s more risk involved if you can’t keep up with repayments.

Can I Get a Loan with Extremely Bad Credit?

Getting approved is never guaranteed, but some lenders are open to working with people who’ve had credit problems in the past. They’ll look at your current circumstances, not just your past history.

If you’re earning regularly, in stable employment, and can show you can manage the repayments, you might still be considered. It all comes down to affordability.

Things to Keep in Mind

Borrowing when you’ve already got poor credit needs careful thought. These loans often come with higher interest rates because there’s more risk for the lender. Always read the terms, compare your options and use soft search tools where possible. These checks won’t affect your credit score and can help you understand your chances before applying.

If you are struggling to get approved, it may be worth speaking to a free debt advice service first. In some situations, taking on more borrowing may not be the most suitable option for you.

How Dot Dot Loans Can Help

At Dot Dot Loans, we’re here to help you explore your options. We’re a credit broker, not a lender, so we don’t make lending decisions. But we work with a panel of trusted, FCA-authorised lenders who may be able to help, even if you’ve been turned down before. Our service is free to use, and any checks carried out are soft searches, so there’s no impact on your credit score.

Frequently Asked Questions