How to Safely Get Up To £5000 without Having To Pass a Credit Score Check?

Going to a bank to get a loan is not always an option, especially if you have a bad credit score. Most banks will either ask that you attend several meetings in order to assess your request, or outright reject it if your score is too low.

If you find yourself in need of a few thousand pounds and know that you would not pass a credit score check, you may want to consider using a less traditional lending service in order to borrow the money. There are hundreds of online platforms that either put borrowers in touch with lenders or who allow individuals to take out loans from sites like Cobra as they would from a bank, without having to pass a credit score check.

Most companies will allow you to take out loans of up to 5000 pounds and pay the money back in installments that are spread across as much as 36 months. This having been said, there are a few things that you need to keep in mind if you want to ensure that you get a fair deal:

Look at what online lending services you have access to

Peer-to-Peer lending platforms are usually a good place to start looking for a loan. These websites will pair you with a lender that you can discuss the details of the transaction and agree to terms that you are both comfortable with. This having been said, you will also be charged a small fee, by the platform itself.

If you have a poor credit score and do not want to disclose your detailed financial information to anyone, this should be a good option for you. In most cases, you will only need to provide proof of residence and proof of income before being allowed to borrow money.

Furthermore, one of the most important things to remember when it comes to peer-to-peer lending is the fact that not all platforms of this type have preset interest rates, so it is possible to find one where you can directly negotiate with the lender and come to a mutually profitable understanding.

Another way you can look for lending services is by opening the Google Play Store or the App Store and searching for lending services. More and more money-lending apps are being developed with each passing year and most of these work similarly to banks, with the exception that you can borrow large amounts of money, for extended periods of time, without having to pass a credit check.

However, if you want to use these you will have to submit detailed personal and financial information, as part of the account creation process.

Get your personal and financial information ready and store it on your computer or phone

Regardless of what type of app you decide to use, you will have to provide photos of several personal documents, such as an ID, a driver’s license, a recent utility bill, a bank statement, and a payslip. These documents are used in order to ensure that your name and address are real and that you have a stable source of income that will allow you to pay back the money that you borrow.

Take photos of these documents with your phone and store them safely so that you will have everything at hand when you need to request a loan.

Only use trusted services and ensure only communicate with the lender using your chosen platform

As a safety precaution, never attempt to negotiate with the lenders outside of the app that you use. These platforms monitor all communication in order to protect both borrowers as well as lenders and going off-site can lead to you losing money or having your personal information stolen.

If the service that you’ve chosen offers a smartphone app, only submit your personal data and communicate through it. This will save you a world of trouble in the long run.

Lastly, keep in mind that not all money-lending services are created equal. Look for reviews before using one in order to ensure that the lenders and the platform itself are fair and that everything will go smoothly.


If you need a few thousand pounds and have a bad credit score that would prevent banks from giving you a loan, then your best bet is to borrow the money using one of the online services mentioned above.

Choose a platform, go its website, create an account using your personal information, and use the on-site app in order to get the loans that you need. Although some companies will ask you to submit your credit score, this information will only be used for marketing purposes. These companies are regulated by the UK government and are obligated to protect your data and respect the terms that you agree to.

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How Can You Reduce The Cost Of Your Personal Loans?

Having several loans that you must pay for on a monthly basis can quickly eat through your paycheck and may even bring you to the point where you are unable to pay for your regular expenses and make the bank payments as well. This issue can be further complicated when prices change or salaries are reduced.

If you are having difficulties in keeping up with the monthly payments that you must make there is always the option of going online and using a money-lending service in order to borrow more. This, however, will not resolve the issue, only “buy” more time.

The best course of action is to go to your local bank and try to renegotiate your previous arrangements. Here are the main things that you can do to lower the cost of your personal loans:

Use your savings in order to repay loans

Having fewer loan means that you will have less to worry about. This means that your first objective should be to use any savings that you may have in order to repay all outstanding loans that you may have.

Generally speaking, you should always focus on paying off the most expensive loans that you have and only then moving to repay more affordable ones. However, before you do this, check to see that the charges for early repayment are not too high.

Keep in mind that the purpose of this step is not to repay all of your loans and resolve the entire issue, but to help you eliminate the ones that would cost you the most money in the long run. Once you complete this step and cut some of your monthly bank expenses, it is time to deal with the loans that are left.

Switch to a short-term loan or one that has a low interest

If you have multiple loans that you need to repay, one easy way to do this is by using other loans in order to repay them. In other words, try to switch to a type of loan that is less expensive in the long run.

Depending on what your current financial strength may be, you have to choose between shifting to:

  • A short-term loan that is faster to repay– These will increase the amount of money that you have to pay on a monthly basis, but the overall cost of the loan will be smaller. This option is usually preferred if you expect to have large financial difficulties in the foreseeable future;
  • A loan that has a lower interest rate – Most banks will allow you to switch to a loan that has a cheaper interest rate. Although in some situations you may also be required to lengthen the duration of the loan, you will still pay less in the long run;

Please keep in mind that the effectiveness of these strategies may vary from one bank to another. You should always the types of loans that your local bank is offering before making any of the changes mentioned in this article.

It is usually best to go to the bank and ask for professional help in order to decide what type of loans you should switch to.

As a word of caution, look out for the set-up costs of the new loans, when doing the math in order to figure out the best course of action. These will be included in the ARP.

Lastly, when it comes to switching to different types of loans, plan ahead and make sure that you can afford the more expensive monthly payments before making the transition.

Consider consolidating your debts

Some banks may directly present some of the loans that they offer as Debt Consolidation Loans. These allow you to merge several loans into one. Making this switch means that you will have to make monthly payments only for this new one. The interest and monthly payments for debt consolidation loans are usually calculated based on what loans you are merging together. This can make this option great if you first manage to repay your more expensive loans using your savings.

Keep in mind that not all banks offer these. While they may seem great in order to simplify your bank payment scheme, they can be considerably more dangerous than other types of loans. This is mostly due to the fact that debt consolidation loans are secured against the client’s home, making it extremely important to first ensure that you will be able to make the monthly payments of this loan before fusing the other ones together.


The best way to decrease the amount of money that you spend on the loans that you’ve taken out is to decrease the number of loans. Go through the options that we’ve presented above and chosen the best one for you.

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