Are 12 Month Loans Available for People with Bad Credit?
Yes, 12 month loans for bad credit are available. Our panel of lenders are able to take a view on poor credit, defaults and CCJs. To be eligible, you will be required to have a permanent address, be employed and earning a regular income. Most lenders prefer if you do not have any similar loans outstanding or anything that could make keeping up with repayments more difficult.
Why Apply for 12 Month Loans?
12 month loans can help you pay for any pressing emergencies or help with important purchases. This gives you the benefit of stretching your repayments over a longer period of time. Repayments are typically made at the end of each month, in equal monthly instalments. That way you know exactly how much you are going to repay and can organise your finances accordingly.
Rather than traditional payday loans which give you money upfront and ask for full payment on your next payday, 12 month loans give you more breathing space. Giving you the flexibility to pay smaller instalments and get your finances back on track if need be.
At Badger Loans, we work with a panel of up to 30 lenders so you can find the best 12-month loan at the most competitive rates possible. Being able to match you with a number of regulated lenders can help you narrow down your search and improve your chances of approval. Plus, if you have the means to repay early, you can do so at any point and will often save money when you do.
Key Features
- Borrow £100 to £25,000
- Repay over 1 to 60 months
- No upfront fees
- No guarantor required
- Bad credit considered
- Early repayment possible
Eligibility Criteria
- Over 18 years of age
- Full-time UK resident
- Permanent UK address
- Employed and able to afford monthly repayments
- Regular income
- Valid UK bank account
- Valid UK mobile and email address
Can I Repay 12 Month Loans Early?
Yes, every lender working with Badger Loans allows you to repay your 12 month loan early. You may find that after a few months you have got your finances into a better position and are able to clear your debt in full.
You will typically need to contact the lender directly by email or phone or log into the ‘my account’ section of their website where you will be able to clear the balance. Repaying your loan early will usually save you a lot of money since less interest is accruing overall.
Apply Online with Badger Loans
Our entire loan application can be completed online in less than 5 minutes and you will receive a provisional quote and instant decision on the screen. You can apply 24 hours a day, 7 days a week using a desktop, mobile or tablet.
If successful, you may be required to speak to the lender or provide proof of income – however, successful applications can be funded within 1 hour but more usually on the same day of applying.
To get started, simply click on the apply now button below.
