There’s no denying that borrowing money is a simple fact of many people’s lives. No matter how careful you are, unless you happen to be lucky enough to be fairly well-off, there will come a time when it proves impossible to simply save up for the things you need to purchase. That’s why bad credit finance is such a vital issue.

Bad credit finance is a phrase which covers lending money to people who have a bad credit record. All too often, bad credit finance means dealing with lenders who don’t have the best interests of their clients at heart. Whether that means going to a pay-day lender, taking out an overdraft or dealing with a high street store that provides items on a weekly payment plan, bad credit finance usually means money loaned at very high interest rates.

Here at PCCU we don’t think that’s fair. We understand that bad credit finance isn’t some kind of luxury item which people access without stressing about it. We know that it will often be needed to pay for essentials such as a new fridge, a car repair or school uniforms. Even if it’s for something more pleasant like a holiday or Christmas presents, bad credit finance is often the only way it can be funded, meaning that people already in difficult financial circumstances are being penalised all over again.

We understand that the kind of credit rating which can lead to bad credit finance is often very difficult to avoid. One missed payment because a month’s wages are lower than usual can do the damage, and in some cases a poor credit rating is caused by the fact that someone hasn’t had to access credit in the past.

The good news is that PCCU is an ethical lender, which means that we provide bad credit finance in away which is fair and affordable. Being an ethical lender means that we don’t have to make a profit on the money we lend. We’re owned by our account holders, so we don’t have to pay executive bonuses or share dividends. That means we can keep our interest rates as low as possible, and lend to people with a less than perfect credit score as long as we believe they’ll be able to pay the loan back.

Our ethical bad credit finance is offered to all of our account holders at the same competitive interest rate. Unlike many lenders, we don’t advertise an appealing headline rate and then only provide that for a handful of borrowers. In simple terms, what you see is what you get, and when you borrow from us we’ll create a payment plan which we believe you can meet without undue stress or having to take out additional loans elsewhere.

Once you’ve provided us with the information we need to make a decision, we’ll try to let you know within a couple of working days. If your loan is approved, then the money will be transferred to your bank immediately, leaving you free to spend it on those things which you might otherwise not be able to afford. We don’t see why bad credit finance has to be bad finance, and we work with our account holders to help them access the funds they need. Find out more about our loans today!