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If, in the past, you have made late (or missed) payments on a loan, credit or store card, or have had other problems such as business liquidation, you may have been marked as having bad credit.

Credit scoring is used by lenders to assess the risk in lending you money. A database of your credit is accessed and your score adjusted where appropriate. Each lender will calculate the score themselves based on their own systems, based upon the credit history of the applicant. Someone with a spotted history of missing payments and generally not keeping up with their repayments will usually be considered to have a bad credit score.

Finding out that you have bad credit, by being turned down for loans, credit cards or store cards, isn't the hurdle it once was. In fact, so many people have faced these same problems, that there are now companies setup specifically to help those with an adverse credit rating.

A bad credit loan may have a slightly higher interest rate than a standard high-street loan, but you will be able to borrow the money that you want for whatever purpose you wish.

Loans UK offer loans to people with bad credit and also to other people who may not qualify for loans from high street banks. We can also help you find other reputable lenders who specialise in this field, helping you to make the most from your applications.