subject: Loans for Bad Credit – Can Give a Solution [print this page] Are you going through bad financial problem? Are you in need of emergency cash to pay off your debts? Because of bad financial status you are not availing a loan from anywhere? No need to worry now, here is a solution to your queries.
You can apply for loans for bad credit from where you get instant cash in your emergency need of money. You can utilize these funds for paying your past debts and to remake your creditability. These advances offer remedies that can satisfy your requirements.
These finances are basically secured as well as unsecured in nature:
In secured credit the borrower will be offered an amount ranging from 500-100000 and so the time period offered will be for 1 to 10 years. In this the borrower do not have to place any property as collateral.
And so the interest charged will also be low. If the borrower fails to repay the amount then the borrowers property will be at risk. Before, lending the finance the lender will check the credit wordiness of the borrower. The borrower will have to assure the lender the paying dates.
Similarly, in unsecured credit the amount obtainable to the borrower will be from 1000-25000 as well as the time period offered will be for 1 to 10 years. Due to this there is no risk for the borrower hence, the interest charged will also be high.
There is less documentation procedure involved under this credit scheme hence, less paper work is been done. People with bad credit history, debts and defaults, late payment, arrears, payment overdue, insolvency, bankruptcy, foreclosures and so on can also apply for such finance as there is no credit cheque involved.
The eligibility criteria:
A person should be a citizen of UK.
A person should at least 18 years of age.
A person should have a valid bank account.
A person should be well employed with an income of 1000.
You can also apply for the online procedure as well. In this the borrower will just has to fill in all the correct details like your name, permanent address, correct bank account number and so on.
