Do you have a bad financial history and have you found yourself in another financial crisis
? This is a very common situation in our world today taking into account the current financial crisis and drop, not only the country's but the world's economy. Almost everyone is now in a worse state than they used to be. In this crisis, banks are generally hesitant to offer loans to someone who has a bad credit history.
Bad Credit Unsecured Loans is exactly the solution for people experiencing these conditions. It is especially designed for those looking for financial aid but have a bad credit history and no collateral either to offer.
Lenders generally provide a sum of 200 - 25000 to the borrowers generally for a period of 1 to 10 years.
Advantages:
It caters to the needs of those who have a bad credit history.
If the amount is not paid back on time, the borrower does not face any risk of losing property.
The repayment term is flexible and can be extended if the lender is given a notice by the borrower.
Disadvantages:
Due to non placement of collateral, the interest rates are higher.
If the repayment term is extended, the borrower will have to pay an extra fee.
Eligibility Conditions:
The applicant must be a permanent citizen of U.K.
The applicant must be 18 years of age.
He must have a regular job and a stable income.
He must have an active bank account.
Application:
The borrower can apply online to avail this finance faster. The online application form is very easy to fill out. The borrower has to provide a few necessary details like name, age, income proof and so on. This process requires no faxing or documentation. Once the form is submitted, verification is done and the amount is transferred to the borrowers account.