subject: Bad Credit Unemployed Loans - A Solution For Bad Creditors [print this page] If you have lost your job unexpectedly and have a bad credit history, what will you do? How do you arrange for money in an emergency? Applying for Bad Credit Unemployed Loans can be the answer to your problems. They are designed to suit the needs of unemployed people who have a bad credit history.
What is a Bad Credit Unemployed Loan?
This loan caters to the needs of unemployed people who have bad credit history. It comes in secured as well as unsecured forms. In case of the secured credit, the borrower needs to places his property as collateral against the approved cash. One can borrow a larger amount for longer repayment duration at low interest rate in the secured form.
In case of the unsecured form, you do not have to place any collateral against the loan. The interest rates are generally higher. However, this loan is a little difficult to approve.
Features
1.These finances are for those people who do not have a job and to add to that, have an imperfect credit history. Such people can use this finance to pay off wedding expenses, house modifications etc.
2.The amount that can be borrowed ranges from 1000 to 25000 and the repayment tenure ranges from 1 to 10 years.
3.The amount borrowed should be repaid on time to avoid penalties.
Who is eligible for this loan?
1.The applicant must be a US citizen.
2.He should have completed 18 years of age.
3.He must show his bank and credit details.
4.Residential proof is required.
How to apply?
Online way of applying for this loan is the easiest and quickest way. It does not require many formalities. You have to fill out an application form online and submit it to the lender. After verification, the amount is sent to the applicants account.
