Bad Credit Loans - An Easy Solution to Resolve Your Credit History!
Do you have a bad credit history? Are you in need of money
? Do not worry as bad credit loans provide you ready cash to resolve all your debts. You can now change your poor credit history in to a good one and thereby improve your credit rating.
These funds are used for varied purposes. You can consolidate your debts; pay off all your pending bills, for wedding expenses, medical emergencies, educational purposes and so on. You are offered an amount ranging from 200 to 25000 for a period of 1- 10 years.
This form of finance belongs to two categories: secured and unsecured.
If you avail the secured form of credit you have to offer collateral against your loan amount. However they carry a lower rate of interest as the lenders risk is safeguarded due to your pledged security. They are granted for a longer period. If you are not able to repay the funds borrowed on time then the lender will take charge of your collateral and will recover the amount of the credit borrowed.
The unsecured category does not demand collateral. Thus they carry a higher rate of interest. The lenders risk in dealing with you is more as there is no security to back the finance offered. You must be able to prove your repaying ability to the lender to prove your credit worthiness.
Eligibility criteria;
You musty be a citizen of U.K.
You should be above 18 years of age.
You should be employed with a regular income.
You must have a minimum income of at least 1000.
You can also avail this form of credit through the online mode. You just need to fill an online application form giving all the relevant details. This medium is very convenient as you can compare the different interest rates charged by the different lenders with just the click of the mouse.
Bad Credit Loans - An Easy Solution to Resolve Your Credit History!