In the late nineties two types of bad credit loans were introduced in the US that required no credit checks, these type of loans would later be introduced in the UK.

Payday Loans

Payday cash advances are loans for a period of thirty days or less and usually require no credit checks, however they do require you to be employed and have an active debit card. If you meet the minimum criteria it is likely that you will be offerred guaranteed acceptance. Charges for these type of loans vary but are usually approximately £25 for every £100 borrowed.

Logbook Loans

Logbook loans are the UK’s version of title loans. Although these types of loan require no credit checks they do require you to use your car as security. In most cases your car will have to be under 10 years old and clear or almost clear of finance. Logbook loans are also available over a longer term and can be taken over a period of up to 2 years.