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Get money when you need it: Once you're approved by your lender, you should receive the funds within a few days.
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Your credit score may improve: Keeping up to date with your repayments can show you’re a responsible borrower, which can boost your score.
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Single monthly payment: This can be particularly helpful when consolidating debt, as you might find it easier to manage than debt spread over several credit cards with different repayment dates.
Pros and cons of bad credit loans
Loans are a big financial commitment, especially if you already have a poor credit history.
Before getting a quote, weigh up the pros and cons of borrowing to see if it’s right for you.
Here are some things to consider:
What types of loans can I compare?
What do I need to know before comparing quotes?
There are a few things to be aware of before you begin:
Term and interest
Hard credit checks
APR
Expert guides
See all loans guidesConfused.com’s loan solution is offered by Monevo Limited. Monevo Limited (Monevo) acts as a credit broker not a lender. Monevo Limited (Monevo) is an Appointed Representative of Quint Group Limited (Quint), and is entered on the Financial Services Register under reference number: 723672. Quint is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 669450. Monevo is registered in England and Wales (Company number 06511345). Registered office: Glasshouse, Alderley Park, Nether Alderley, Cheshire, SK10 4ZE. Licensed by the Information Commissioners Office, (Registration number Z1498441).