Everyday Loans for Everyday Life



Joint Applications For Couples With Bad Credit

Thousands of adults across Britain use Everyday Loans to receive the finance they need where other lenders have turned them down. If you have bad credit and it is making it difficult for you to get a loan, don’t worry; we might be able to help!

If your individual credit rating is very low, it is common to be turned down on loan requests by most lenders. If this sounds like you, then you might wish to consider making a joint application if you have a partner or family member that is happy to apply with you.

There are certain advantages to applying for a loan jointly with a family member or friend.

Firstly, we will assess the application based on both of your credit scores, so the combined score can be stronger than the individual. This can make the difference, giving you a better chance at receiving the financial assistance you need, when you need it most. Where other lenders might turn you down, Everyday Loans is here to consider your joint application.

Secondly, we will also take both your incomes into account and this will help you with your affordability for the loan. As predicting the potential for you to repay your loan as agreed is so important, combining the income of you and your partner into one agreement for the loan is a great way to add more strength to your application.

If you do take a loan jointly then both you and your partner will have to sign the credit agreement - so keeping up with repayments is the responsibility of both parties. If you are considering a joint application with your partner or a family member due to bad credit, it’s important that you are both aware of the agreement and repayments expected and that this responsibility is shared between you both.

If you stop paying the loan before it is fully repaid, then both your credit records will be damaged by any non-payment. Be sure to talk about this with the other person in your application, so that you are both fully informed of the process and consequences of non-payment.

If your joint loan is accepted and you meet your regular repayments, however, your credit ratings could improve as a result. This can be an added benefit, helping to repair and rebuild your credit score. This combined with the responsible handling of your other finances could help you in future.

Everyday Loans is here to help you with your finances when you need it most. It’s our mission to help adults across Britain access loans when they might have been refused elsewhere. If you wish to apply for a loan jointly with a partner, please call your friendly local branch.