subject: Unsecured Loans for Bad Credit - Quick and Easy Way to Get Cash [print this page] Unsecured Loans for Bad Credit - Quick and Easy Way to Get Cash
It is extremely intricate to avail an advance once you have been tarnished with an awful credit rating. However you need not be unhappy any longer for unsecured loans for bad credit are the quick and easy way to get cash. You have probably been turned down many times before.
So as to avail, the borrowers are required to meet some of the basic eligibility conditions. This compromise of the need for the person to be more than the age of 18 years, the person should be employed, the person should have a fixed occupation and the person must also maintain a savings bank account.
Unsecured loans for bad credit allow the candidates to fetch an amount varying from 1,000 to 25,000 for tenure of 1 to 25 years.
The applicant does not face any risk of losing his property as he does not keep any security as collateral. The repayment term can be extended by the lender if the borrower gives the lender prior notice. People with a poor credit history can apply for these loans and use it to improve their financial standing.
Due to absence of collateral, the rate of interest is high. If the repayment term is extended, the lender charges an extra fee. The borrower should pay the money before the repayment term is over otherwise he will be charged penalty.
The eligibility criteria for unsecured loans for bad credit:-
The applicant must be a permanent citizen of U.K.
The borrower must be 18 years or above.
He/she must have a regular occupation at any association and must have a stable monthly income.
He must have an active bank account.
The applicant can apply for this finance in many ways but the most convenient way is to apply online. The online submission form is very simple to fill and there is not much documentation as well. After the submission of the application form, verification is done and then the cash is transferred to the borrowers account.
