There many direct lenders and brokers that can assist you on many levels if you have very bad credit. People have been asking this question numerous amount of times and the answer is not a straight yes or no. Many payday lenders for bad credit can assist with very bad credit like CCJ, Defaults, or even Bankruptcy. It depends on what these very bad credit entries on your credit report relate to. If these bad entries are for not paying a payday lender previously, then your chances of getting a payday loan will be lower than expected.
Payday loans for very bad credit can be obtained quite easily if these negative entries are dated for more than 1 year ago. Peoples borrowing habits and history may change as the time pasts by. A negative credit report will be analysed but most of all, your affordability of repaying the loan will be also of priority among the rest.
If you have been accepted for a loan with not good credit, then this may the beginning and more underwriting may be followed after. You may have to show your ability to repay the loan back such as payslips, bank statements and so one. The high-interest rate on bad credit loans is normal as there is a risk lending to you if you have previous default credit entries of other credit previously.