What type of loan should you get?
There are lots of ways to borrow money quickly, even with bad credit. A credit card may be the cheapest option, but don't just assume your existing card is your best bet - see if you can find a better deal with a new card.
An authorised overdraft on your bank account is worth looking into - explain your circumstances to your bank to see if they're happy to extend your overdraft for a while, but avoid going into an unauthorised overdraft.
Alternatively, you could try a guarantor loan, borrowing from a friend or a Credit Union or Budget Loan. You can read more about your options in our guide, What is the Best Way to Borrow Money Until Payday?
If you decide on a payday loan instead, make sure you fully understand how they work before rushing into taking one out, however urgently you need the money.
High fees and interest rates can make payday loans very expensive, especially if you don't pay it back when it's due - rolling the loan over can push up how much you have to pay back considerably.
If you do miss repayments, this can affect your credit rating, meaning it could be harder to get a loan or even a mortgage in the future.
What to look for
Before you look for a loan, work out how much you need to borrow and don't be tempted to take out more than you need, as that can increase your costs.
The total amount you'll have to pay back will be determined by the interest rate and fees of the loan you choose. Check the cost per £100 of each loan you consider, as this will help you compare them and pick the cheapest.
Once you've chosen the right loan, you can apply online. The lender will let you know how much you can borrow and what it will cost to repay it. Once the application is complete, they'll transfer the money to your account.
When you reach the repayment date, the lender will often take the funds directly from your account. It's up to you to make sure you have enough money available for this so you can avoid having to roll the loan over.