subject: Immediate Bad Credit Loans – Quickest Way Of Borrowing [print this page] Immediate Bad Credit Loans Quickest Way Of Borrowing
Taking a loan is never easy for any person. The situation is worse for the people with poor credit profile. They find it really very hard to get even a small loan approved. To help such people, some lenders of our country have introduced new loans. These loans are known as immediate bad credit loans.
Immediate bad credit loans as the name suggests are small instant loans which are approved without any delay. The amount of such loans is generally small. It varies from 100 pounds to 1500 pounds. This loan is approved for a very short span of time. This time period may be around 2 to 3 weeks.
The best part of such loans is that they are approved without any credit verification. It means that the borrower does not need to pledge any of his or her assets with the lender to get the loan approved. These loans are also offered to those persons who have poor credit history. It means that a person who has some defaults in his or her name may also apply for such loans.
Presently such loans are offered only to the permanent citizens of UK. A person should have attained an age of 18 years before he or she may apply for these loans. He or she should also be on some job earning a regular income for at least past 3 months. The borrower should also have a valid bank account in any bank of UK. It is this bank account which will be credited by the loan once it is approved.
Though the rate of interest on such loans is slightly higher than the normal rate but seeing all other features of such loans we can say that these are very useful.
