In times of crisis, making the monthly payments for a loan can prove to be close to impossible, especially if the banks also raise their monthly interest rates. When this happens, most banks impose harsh penalties in an attempt to make as much profit as possible.

Luckily, there are a few methods that you can use to get the money that you need in order to make the payment without remaining completely penniless. Most banks may agree to negotiate with you and set a new monthly installment plan that is easier to follow.

There are also multiple online services that may agree to lend you the money that you need without paying attention to your credit score, or your upcoming monthly payment. Furthermore, most platforms can process your request in under 24 hours, making them great choices if you are pressed by time.

Establish exactly how much money you need

The first thing to do when you realize that you may not have enough money to pay your monthly installment is to take a step back and establish how much money you will need in the near future. It is important to keep in mind that you will not only need to make the monthly payment but also survive until you receive your next paycheck.

Make a list of upcoming expenses and add them to the value of the monthly payment that you must make. Then compare it with how much money you currently have at your disposal. The difference between the two is the exact amount of money that you will need.

Know what your offline options are

Your most important, practical option when it comes to difficulties paying off your loans is talking to the bank. Go online and look for a customer support number that you can call and explain the situation. In certain, exceptional cases, the bank representatives may agree to give you more time to make the payment. Having a high credit score and a long business relationship with your bank can help in this situation.

However, if this method does not work, look for ways to borrow the money that you need from other places. Start with family members, and if none can help you, look for a local pawn shop where you can take a few objects that you no longer use. Anything from older, functional electronic devices and appliances can be pawned, as long as they are in good condition. If none of these methods prove fruitful, you also have the option of using an online service in order to get a short-term loan.

Look for online solutions that do not require a credit score check

There is a large number of money-lending services throughout the United Kingdom, that operate solely online. They are designed to help individuals who are in dire need of a fast loan get the money that they need. As a result, most online lending processes are very fast and can take as little as 12 hours (especially if you only need to borrow a few hundred pounds).

You can sign up to these online platforms in a matter of minutes and the loan request form is easy to fill in. Furthermore, most of them will find you eligible for their services regardless of your credit score.

One detail that you must pay attention to when requesting a payday loan for bad credit is the reason why you need the money. Online lending services are designed to help individuals who need money in order to pay urgent expenses. As a result, it is better to be truthful when you fill in the box that asks for the purpose of the loan.

Never borrow from more than one service, or from individuals on open platforms

It is extremely important to mention the fact that you should never take out loans from multiple platforms at the same time. This is because you will have to pay interest for each of them and you may find that the overall cost of the money that you borrow will bring you back to where you started.

Furthermore, avoid borrowing money from individuals that advertise their services on forums or other types of open communication platforms. Online lending companies are regulated by the government and can be trusted. The same cannot be said about unknown individuals who offer to give you the money that you need to resolve your financial issues.


Not being able to make your monthly payments is often not as serious of an issue as it seems. Simply look at all the options and facilities that you have at your disposal and choose the best one. The only thing that you should keep in mind is that you should never take money from, or give your personal information to companies who are not verifiable through their company registration number.

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