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Pegasus Personal Finance

Call0800 066 2882

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(8.9% APR illustration)

This does not constitute a quote, rates may vary depending on personal circumstances.

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.

About The Expert

Pegasus Finance is a trading style of The Car Loan Warehouse Limited

The Car Loan Warehouse Limited is authorised and regulated by the Financial Conduct Authority. Our registered FRN is 662397. Registered Company No. 08127935. All finance is subject to status and income. Applicants must be 18 years or over, terms and conditions apply, guarantees and indemnities may be required. The Car Loan Warehouse Limited is a broker, not a lender and can introduce you to a number of finance providers based on your credit rating and we will receive a commission for such introductions. Written quotation on request. Certain exclusions for Northern Ireland residents. Borrowing £8,000 over 48 months with a representative APR of 14.9%, an annual interest rate of 7.7% and a deposit of £0.00. 48 payments of £218.49 per month. Total cost of credit being £2,487.57 and a total amount payable of £10,487.57. Terms available 12-120 months, 5.9%-49%APR. Pegasus Finance do not provide financial advice.

We can introduce you to a limited number of lenders that offer finance products, but we do not offer any advice or recommendations. We do not charge you a fee for our services, but we receive commission from the lenders we introduce you to. The commission we receive is either a fixed fee or a percentage of the amount you borrow but the existence of commission does not affect the amount you will pay under the agreement. The commission we receive varies depending on how you are introduced to us, which lender we place you with, and which finance product you choose. We will pass a proportion of the commission we receive to the motor retailer that introduced you to us. The commission we receive and pay will not affect the amount of interest you pay under your credit agreement, when compared to customers in circumstances similar to you. We will always introduce you to the lender that provides products for your needs, at the interest rate suitable for your credit profile. If you ask us, we will tell you the amount of commission we are paid for introducing you to the finance lender.

Pegasus Finance, Technology House, Station Road, Alton, GU34 2PZ