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Loans Outside the Credit Union

*ATTENTION – We are not authorised to give financial advice, this is not financial advice nor should it be taken as such, this post is merely for informative purposes only and we recommend users act only within their means and thoroughly review their own personal circumstances before considering any financial aid.

Reading Credit Union would recommend to only use external lenders in emergencies if you are not eligible for credit within a Credit Union.

In certain circumstances you may not be eligible for membership within the Credit Union. This means you may have to find a short term personal loan from another resource credit source.

We would recommend going to a high street bank as a first point of call when looking for a loan and having a guarantor would generally be advised. If you are struggling to find the credit you need with your bank there are alternative options such as credit lenders.

Please note this is not financial advice, and before reading further you will need to fully analyse your specific financial situation and only take a loan that is affordable. If you need more information or feel like you need financial help please seek it with regulated charitable organisations such as Step Change and ensure you get the help and advice you need from people you can trust.

Where to Find A Short-Term Personal Loan?

There are a number of places where you can find a short-term personal loan. Depending on the sum of the loan you could either do one of the following:

  • Lend from a trusted family member or friend
  • Interest-Free Overdrafts
  • Go to your Local Regulated High Street Bank and see their service offerings for short-term loans
  • Take out a Credit Card – this can also improve your credit rating provided you make timely repayments
  • Look for a direct lender
  • Go through a credit broker to find a lender who is right for your circumstances

When you’re looking for quick loans UK there are a number of different lenders who can offer competitive APR rates. Ensuring you find the right lender at a rate a representative APR rate that fits your financial position is extremely important. If you are unsure please speak to a qualified financial expert or seek advice at your local Citizens Advice Bureau.

Where to Find the Right Financial Advice 

If you are struggling to make repayments or have concerns about debt there are a number of regulated charitable organisations that can help and give you trustworthy and honest financial advice.

Some of these charitable organisations include:

  • Step Change – 0800 138 1111
  • Debt Advice Foundation – 0800 043 40 50
  • Business Debtline – 0800 197 6026
  • Citizens Advice Debt Management – 03454 04 05 06
  • Debt Advice Foundation – 0800 043 40 50
  • Debt Support Trust Management – 0800 085 0226

We hope you have found this article helpful and informative. If you have any further enquiries please feel free to get in touch via our contact us page.

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