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Short Term Loans for Bad Credit

Do you need cash to cover an unexpected bill or other unforeseen costs? Emergencies crop up from time to time. Whatever your situation, a short-term loan could help.

With a trusted short-term loan direct lender like Dot Dot, you can apply online and get between £100 and £1,000 the same day. We offer a range of repayment terms depending on how much you borrow, and you won't need to worry about any nasty hidden charges either.

Read on to learn how short loans work, whether you could qualify and how to apply.

What are short-term loans?

As the name suggests, short-term personal loans are cash boosts that are paid off within a short period of time. This is typically in regular instalments of up to a year. You can pay yours back over three, six or nine months with Dot Dot depending on how much you borrow.

Short term loan

Representative Example

Borrow £250 over 6 months with monthly repayment of £81.41. Total amount payable £488.46. Interest rate 248.19% p.a. (fixed). 824.7% APR Representative.

Just as you would with a long-term loan, you'll repay the loan itself plus a certain amount of interest. Short-term finance is usually designed to cover the kinds of costs that simply can't wait. Thankfully, it’s usually a quick and simple process.

You can apply for most short-term loans online relatively quickly and find out if you’ve been approved soon after.

What can I use short-term loans for?

From boiler breakdowns to dental problems and car trouble, unexpected things happen to the best of us. Sometimes several costs come around at once and put a strain on your finances. You could use a short-term loan to cover:

  • Home maintenance bills, including boiler, washing machine or fridge replacements
  • Car repairs, servicing or MOTs
  • Other unplanned costs such as insurance renewals or medical bills

Turning to a responsible small loan direct lender like Dot Dot Loans could provide the relief you need.

Short-term loans vs payday loans

If you're searching for quick finance, you've probably come across payday loans. Payday loans are different to short-term loans in the UK, as they're designed to tide you over until you get paid and can also help cover emergencies.

Payday loans aren’t the only financing solution out there, and there are key reasons why a short-term personal loan could be a viable option for you. The short terms loans we offer are instalment loans which allow you to spread the repayment over a fixed time period. Payday loans, on the other hand, usually require you to repay the full amount in one instalment.

With typically high amounts of interest on top, this can feel tricky to repay – and often taking on the responsibility of lump sum repayment can create more of a problem than it’s worth. Indeed, failing to repay some lenders could land you with late payment penalties that bump up your debt even further.

If you are considering a payday loan, think about whether you’re going to be comfortable with and, more importantly, capable of, repaying on a lump sum basis.

The best short-term loans come with no risk of extra charges – and that’s exactly what we offer. But that's not the only reason to choose Dot Dot Loans.

Why choose Dot Dot Loans?

Even when money feels tight, it's important to have full confidence in your decision before applying for a loan. Here at Dot Dot, we make things simple, clear and convenient – and will always try to make sure you have all the information you need to make the right choice for you.

Here are six reasons to choose Dot Dot as your short-term loan direct lender:

  • Quick: Apply for between £100 and £1,000 online in minutes. If we say yes, you could have it in your bank account the same day
  • Flexible: We’re all about short-term loans with easy repayments. Choose a repayment period of three, six or nine months depending on how much you borrow. You can also pay your loan off early if you want to
  • Honest: We'll agree all your short-term loan costs upfront and will never charge you any hidden extras
  • Responsible: We're a member of the Consumer Credit Trade Association and carry out robust credit and affordability checks to make sure our loans are manageable
  • Recommended: We're rated 'excellent' by independent customer reviews on Trustpilot. People like our fast service, friendly staff, and simple process
  • Accessible: When it comes to short-term loans, bad credit direct lenders in the UK can be tough to find. We look at more than just your credit score, meaning you could get a short-term loan with bad credit

We're owned by Morses Club PLC, one of the UK's largest personal loan companies set up over 130 years ago. We're a small loans direct lender, so you'll always know exactly who you're dealing with. No surprises. Just quick and easy loans, subject to affordability.

How do Dot Dot's short loans work?

Our short-term loans process couldn't be any easier. All our loans are unsecured, so you won't need to offer your home or other valuables as security. There's no need to find a guarantor either.

Simply choose how much you want to borrow, see what repayment terms are available and go from there. You can use our short-term loan calculator to find out how much yours will cost before you apply.

If you decide to go ahead, our team will carry out credit and affordability checks to make sure you can afford the repayments based on your credit history, income, and outgoings. Don't panic – a less-than-perfect credit score won't automatically rule you out of getting short-term finance.

If we say yes, we'll agree all your loan costs upfront, then collect repayments automatically. You can also manage your loan online through our handy customer portal.

You can head to our FAQs or contact our friendly team if you have any more questions.

Is a short-term loan right for me?

Any decision you make with your money needs to be the right one for you. There are occasions when a short-term loan might not be the best option.

Short-term loans usually have higher repayments than long-term loans as you're repaying what you owe quicker. This can mean you'll pay less in interest, but if you need to borrow a higher amount or spread the cost even further, you might need to look at long-term options.

It's also not a sensible idea to take out a short-term loan to pay off another debt. Taking on more debt could make your situation worse. If you feel like you're struggling you can get free advice from National Debtline, StepChange or MoneyHelper.

Do I qualify for short-term finance?

We want to make fast and easy loans available to as many people as possible, providing they meet our lending criteria. You can apply for a short-term loan in the UK if:

  • You're over 18 years of age
  • You live in the UK and can give address details
  • You have a valid email address and mobile phone number
  • You can provide bank account and debit card details

Your chances of being approved will depend on your situation. We review every application individually to make sure we lend responsibly and, if you’re approved, give you a loan that works for you.

How much can I borrow?

You can apply for a short-term loan of between £100 and £1,000 with Dot Dot Loans.

If you need a higher amount – for vital home repairs, for example – you can apply for a long-term loan between £1,500 and £5,000.

How do short-term loan repayments work?

We offer repayment periods of three, six and nine months on our short-term loans depending on how much you borrow.

We'll collect repayments automatically on an agreed date. This will be through Direct Debit and will save the hassle of remembering to make payments – or the worry of forgetting. You can speak to us about arranging a different payment method if you'd prefer.

We understand that things change. You'll never be charged fees for missed or late payments but falling behind could affect your credit score. If you think you won't be able to make a repayment, for whatever reason, please get in touch as soon as possible.

Our friendly team will talk you through your options and help put a new plan together.

Are there any fees to worry about?

We don't charge any hidden or extra fees. Some short loan lenders do, leaving you with more to pay back and less chance of doing so. We keep things simple.

What's the interest rate on a Dot Dot short-term loan?

Our interest rate is fixed upfront and varies depending on how much you borrow. You may see other short-term loan lenders offering variable interest rates, which means they can go up and down from month to month. However, these can present risks. While you might be able to afford the initial rate, this cost could go up and leave you out of pocket.

With our fixed interest rate, you'll always know exactly where you stand and how much to budget.

Can I get a short-term loan with bad credit?

If you’ve got a less-than-perfect credit score to your name, we appreciate it can make life feel a bit harder. Accessing short-term loans with bad credit in the UK can be troublesome, but we don’t rule out any applicant without reviewing them first.

We make sure to take into account more than just your credit score when considering your application. We’ll take a look at your situation as a whole when considering your application for a small short-term loan with bad credit – and we’ll always be fully transparent with you.

Apply for a short-term loan with Dot Dot

Has an emergency left you in a tight spot financially? Are multiple costs piling up at once? Whatever your situation, our quick and easy loans could be the answer.

Apply today using our short-term loan calculator. Choose how much you want to borrow and how long you'd like to pay it back, then check the loan works for you. If it does, select apply now to continue with your application and fill out a few personal details.

We'll get back to you as soon as possible, then take it from there. Simple.

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Borrow £100 to £1000 from Dot Dot Loans

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Loans from £100 to £1000

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Representative 824.7% APR

Loans from £1500 to £5000

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Representative 79.4% APR

Short-term loans: 824.7% APR Representative Long-term loans: 79.4% APR Representative