For all those people who could not make timely payments in the past because of unavoidable circumstances, there is still an option left wide open in taking a new loan. Such borrowers can apply for instant bad credit loans. These loans are especially carved out for people whose credit report mentions multiple problems like late payments, defaults, arrears, CCJs etc against their names. The most attractive and beneficial feature of the loan is that despite all the credit woes, the borrower gets instant approval. The loan amount is wired within 24 hours in the borrowers’ bank account.