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Dear Pegasus, I noticed that you advertise being able to help with personal loan bad credit. My credit history is not brilliant but not awful, so I do understand that I might not be offered a really low APR but do not want to be paying payday lender rates either. I would like to be able to borrow around £12,000 to pay off a couple of credit cards and a bank loan that I have. Please let me know if you can help.

Hi Rachel and thanks for your email regarding personal loan bad credit.

Pegasus Personal Finance work very closely with lenders who understand that the average customer in the UK doesn’t have a perfect credit score but as long as your bad credit is in the past now and you have a job with an income of at least £1000 a month after tax there should be an personal loan option for you.

Debt consolidation is a common reason for personal loan bad credit and can actually reduce your monthly payments which is always a positive move when calculating how affordable a loan is.

Personal loans for bad credit are repayable over two to five years and the monthly payment and APR can vary depending on the lender and the loan size but for an indication you can visit our personal loan calculator or for more information click here to visit our bad credit page.

To apply is really simple and you can either phone one of our friendly finance advisors on 0800 066 2882 or complete our quick and easy online application form and we’ll call you.

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