Peachy Loans
Peachy Loans is no longer offering direct loans.†
Why not consider using Little Loans to help you find a suitable loan instead?
Little Loans as a Peachy Loans alternative
- We’re a credit broker working with a large panel of responsible lenders.
- Our lenders offer loans from £100 to £10,000.
- Repayment terms from 3 to 60 months, depending on how much you apply to borrow.
- No-obligation quotes.
- We don’t charge any fees for our credit broking service.
- Straightforward online application.
- Straightforward online application.
*If you’re matched with a loan and decide to make a full application directly with the lender, you’ll be required to undergo a hard credit search. Hard searches will remain on your credit file for up to 12 months and too many hard searches in a short period of time could negatively affect your credit score.
Who was Peachy Loans?
Peachy Loans was a direct lender of short-term loans, and a trading name of Cash on Go Ltd. Customers were able to borrow between £100 and £10,000 over terms of 1 to 12 months.
What happened to Peachy Loans?
Peachy Loans went into administration in March 2020, and Adam Stephens, Gilbert Lemon, and Henry Shinners of Smith & Williamson LLP were brought in as the company’s Joint Administrators. They are no longer able to accept new applications for credit.
Can I still submit a claim against Peachy Loans?
Unfortunately, the deadline to submit a claim against Peachy Loans was July 29, 2021. Any claims received after this date will not be considered.
Is it still possible to get a loan through Peachy Loans?
Peachy Loans has entered into administration and is no longer able to accept applications for direct loans. If you’re searching for a short-term, personal loan, Little Loans could help you look.
Can anyone use Little Loans to search for a loan?
In order to use Little Loans to search for a loan, you’ll need to meet our eligibility criteria. You must:
- Be over the age of 18;
- Be a UK resident;
- Have a UK bank account with a valid debit card; and
- Have a regular source of income paid directly into your bank account.
Can I use Little Loans even if I have bad credit?
Yes, you can – we welcome people with all credit scores to search for a loan using our credit broking service. A number of the lenders we work with are willing to consider applications from those with poor credit history.
It’s important to remember that if you’re accepted for a loan with bad credit, this could be at a higher rate of interest. Additionally, it might not be possible for you to borrow as much money as you need.
If your need for money isn’t urgent, you may wish to consider working on your credit score before applying for a loan. A good credit score could improve your chances of being approved for a loan if you need to apply for credit in the future.
I have really bad credit – is it too late for me to fix my score?
Not at all. Having poor credit can feel daunting, but please know that there are several ways to improve your score – some of which you can make a start on today.
- Register to vote.
- Ensure that all your bills and any current credit commitments are paid on time.
- Check your credit report for errors and flag any incorrect information with your lender or credit provider.
- Do you have a credit card? If so, stay well within your credit limit and try to pay more than the minimum repayment amount each month if you can.
- Where possible, try to avoid using your credit card to withdraw money from a cash machine.
- Be wary of financial association with others. For example, sharing a joint account with someone who has poor credit could have a negative impact on your own score.
- When you apply to borrow credit, the lender is required to carry out a hard search on your credit file. Hard searches remain visible on your file for up to 12 months, and too many hard searches in a short space of time could cause your score to decline. Be mindful of the number of hard searches you undergo.
How does the Little Loans process work?
- First of all, decide how much money you need to borrow and choose your ideal repayment term. Our online form should take no longer than five minutes to complete.
- In just 60 seconds, we’ll run a soft search on your credit file. A soft search won’t affect your credit score and is only visible on your credit report to you and the company who carried out the check.
- If we’ve successfully matched you with a suitable lender, you’ll be redirected to their website. Here, you can find out more about the loan and decide whether you’d like to make a full application with the lender.
- The lender will carry out some additional checks, including a hard credit search.
- If they’re happy with the outcome, you’ll be sent a loan agreement. Take your time to read through the terms and conditions before deciding if this is the right loan for you.
Little Loans handy information:
- You should never borrow more money than you need or can afford to repay.
- Be sure to complete the application form as accurately as possible to avoid any potential processing delays.
- A hard search, completed by the lender, will leave a footprint on your credit file. As we’ve previously mentioned: undergoing too many hard searches in a short period of time could harm your credit score.
- Being matched to a lender doesn’t automatically guarantee that you’ll be approved for a loan.
How quickly could I get my money?
It’s possible for some of the lenders on our panel to send your money the same day your loan is approved; however, the time it takes for the funds to show in your account will depend on your bank’s policies and procedures.
If you need the money to cover a pressing cost, such as an emergency bill, you may wish to have a read through the lender’s website to understand their payout timeframe before you commit to making a full application.
I can no longer afford my repayments – what shall I do?
If you’ve taken out a loan that you’re struggling to repay, you should contact your lender as soon as you can. They will talk you through possible options to help you get back on track.
Defaulting on your loan could lead to late fees, additional charges, a decline to your credit score, and financial stress. While asking for help can be scary, it’s the first step towards taking back control.
Where can I access money advice?
You can find free, impartial money and debt management advice on sites such as StepChange, MoneyHelper, Citizens Advice, and National Debtline.
†Peachy Loans should not be confused with Peachy Finance and Peachy-Loans.co.uk
Straight forward
“Easy pleasant service, quick decision and easy account management.”
Laurissa Marsden
Representative example: Amount of credit: £1000 for 12 months at £123.40 per month. Total amount repayable of £1,480.77 Interest: £480.77. Interest rate: 79.5% pa (fixed). 79.5% APR Representative. We’re a fully regulated and authorised credit broker and not a lender