subject: 12 Month Installment Loans Bad Credit: Best Option For Bad Credit Scorers [print this page] 12 month installment loans bad credit are proving boon for those who cannot repay their entire loan at a time. There are many reasons which make people unable in paying the entire loan amount at one time. The rate of commodity in increasing day by day and the way of living of the people is also contributing in this. Saving is becoming les in comparison to expenses. Due to this saving it becomes just next to impossible for the people to pay the entire loan amount along with interest at once. So without waiting for any other option one must opt 12 month installment loans bad credit for gaining cash aid in a quick manner.
Factors regarding 12 month installment loans bad credit
The main purpose behind designing of 12 month installment loans bad credit was to fulfill the immediate need of cash as this loan provides you monetary support for short term.
Nature of these loans is unsecured as one does not require showing any credit history as well as no collateral is required.
Interest rates of 12 month installment loans bad credit are very high.
The amount of loan can range between 1000 to 1400 approximately which one should pay within 12 months of time.
Payment of loan can be done in the form of easy installments according to your need.
A person who is suffering from bad credit history like late payment, insolvency, CCJ, skipped payments, IVA etc is also eligible for applying. Many sudden expenses such as grocery bills, medical bills, home renovation, car repair etc can be afforded very easily through 12 month installment loans bad credit.
Basic requirements for applying 12 month installment loans bad credit
The person should be a senior citizen of UK
Minimum age should be of 18 years.
Minimum monthly salary must be in the range of 800 to 1000.
You should be in regular job
You must have an account for your money transaction
Now if a person is having a credit history which is bad in nature then it can be considered as a biggest disadvantage in order to get his loan successfully. As we all know that capital lending firms and companies never believes to these types of people who have a platform of default in their loans previously taken. This is the reason why a person who is having a bad credit history fails in getting a loan and now for these types of people 12 month installment loans bad credit is only the option left for them as this loan scheme gets customized according to the need as well as according to the credit history of borrower.
