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Readies is rated 4.8 stars by based on 15 reviews

Real reviews from Readies bad credit loan customers :-

I have a history of poor credit so getting any kind of loan is always tough. But thankfully there are firms like Readies who specialise in bad credit.


Lenders typically want to charge the earth to people like me with poor credit but firms like Readies help match you with cheap affordable loans.

Rachel is a great website if you're suffering from a bad credit history. They've helped me out no end over the past few years.


There are very few companies out there who specialise in loans for bad credit applicants. Thankfully I came across Readies and now all my worries are over!


Have you got a bad credit history or bad credit rating?

If the answer is "yes", then there's a good chance you'll have a hard time getting the loan that you desperately need. In terms when you need cash fast, the last thing you want is to find out that your poor history with money is stopping you from getting capital.

Ultimately, poor credit scores are more common than you might think, and they can happen for a number of reasons. For instance, you might accidentally go into your overdraft when paying for a broken boiler, or getting a repair done on your car. Alternatively, if you suddenly lose your job, then you might end up with bad credit because you're unable to make the right repayments on things like your credit cards, existing loans and mortgage repayments.

While having a bad history with credit doesn't necessarily mean that you won't be able to get an advance from a building society or bank, it does mean that you'll have a harder time getting a competitive price when you do borrow money. Indeed, issues with bad credit are often why pawnbrokers and secured loans are popular, because some of the best loans are dependent on how well you've been able to keep up with your repayments in the past.

The good news is that you still have options available to you as a person with bad credit. The only difference between you and someone with good credit, is that you might need to work a little harder to get the right deal. There are plenty of lenders out there who are more lenient with the way that they provide credit. These lenders pay less attention to things like credit scores, and more attention to your ability to repay loans within a specific period of time right now.

Here's your guide to everything you need to know about bad credit, and bad credit loans.

  • Your Guide to Applying for Loans with Bad Credit
  • The Pros and Cons of Bad Credit Loans
  • What is a Bad Credit History?
  • Credit Scores and Thin Credit Files
  • What to Remember When Applying for Bad Credit Loans
  • Moving on With Bad Credit
  • Bad Credit Loan FAQ
  • Why Is It So Difficult to Get a Loan with Bad Credit?
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What is a Bad Credit History?

If someone has a bad credit history, the average lender will typically assume that the person simply cannot handle their finances as well as they should be able to. A bad credit history can be used as evidence that a person will not be able to keep up with their repayments because they missed payments in the past. However, as we all know, circumstances can change in your day-to-day life and make it hard to deal with financial situations that you would otherwise never encounter in your typical routine.

In simple terms, a bad credit history is something that can harm your chances of approval for a number of applications and credit requests. In some cases, a bad credit history can even make it more difficult to people connected with you - like your spouse - to obtain credit when they request it too. Some people even struggle to get things like mobile phone contracts when they're dealing with a poor credit history at the same time.

There are many different kinds of "credit" documents that are linked to a person's financial history. For instance, your credit file is the database that contains your financial and personal details taken from loan providers, credit card providers, and other services that permit you to borrow credit or money. A credit file contains things like:

  • Your personal details: Current address, date of birth, name, place of work and gender.
  • Your account information: A breakdown of your credit details, the balance on your accounts, when your accounts were open or closed, and how much activity happens on your account each month.
  • Your credit inquiries: This refers to the number of applications that you may have made in the last couple of years. Keep in mind that credit inquiries typically come in a number of different forms, including soft and hard inquiries. While soft inquiries don't leave any marks on your credit reports, hard inquiries can make it harder for you to get the credit that you request, by affecting your credit score.
  • Black marks and defaults: If you default on any of your loans or debts, or decide to declare bankruptcy, then all of this information will be kept on your credit file for a certain period of time.
  • Present and past employers: Some credit files will include details about your current employer, and any employers you've had within a specific time period.

Unlike the culmination of information included within a credit file, your credit report simply presents all of the many data points in your data file in a more organised way. Your credit file is generally what you will receive when you go to a credit reference company. On the other hand, your credit score is an even more simplistic snapshot of your current rating in terms of how well you're doing with money. Your credit score is calculated by the credit referencing agencies of the UK, and it summarises your ability to be accepted for credit at a specific time. It's generally much easier to improve your credit score than it is to improve your credit rating.

Credit Scores and Thin Credit Files

To find your credit score, you will need to find the details of your credit background as they're held by three credit reference agencies, known as TransUnion, Experian, and Equifax. In some cases, the reports held by different credit reference agencies will vary, so it's worth seeing what your score is with different lenders.

Some sites may be able to generate details on your credit rating and score for you. However, it's important to make sure that before you request an insight into your credit score, you're not working with a company that will leave a mark on your history. Look for people who offer soft checks.

Importantly, you may notice that you don't necessarily have a bad credit score, but you also don't have a good one. There's a big difference between having a bad credit score and having a lack of history in your credit file. If you have a thin credit file, this means that there's not a lot of details available about your spending habits. If you've never had a loan, direct debit, or a mortgage before, then there's no evidence out there to show people how well you deal with things like credit and borrowed money.

On its own, a thin credit file doesn't necessarily mean that you have a poor lending history, or issues with money management. A thin credit file basically just says that you haven't made a lot of applications for credit in the past, and you may not use credit cards to make your purchases. There's nothing necessarily wrong with having a thin credit file, and some people would even argue that a lack of information in your credit history is a good sign, because it shows that you don't need to borrow money.

Unfortunately, with some lenders, having a thin credit file can be just as bad as having poor credit, because your lenders are unable to see evidence that you're good at managing your money and lending responsibilities. If no-one has any proof that you can maintain regular payments, then it's difficult to trust you with the best loan rates and APRs.