subject: Bad Debt Loans - To Recover Your Credit [print this page] If you have a poor credit history, you may surely tend to worry. In these cases, it is very difficult to get funds. As a result, bad debt loans are now available in the financial market. They are specially made for your help. These advances are secured as well as unsecured in nature. In secured type, it is not mandatory for the borrower to offer a security against the borrowed amount. However, in the unsecured type, you need not place any collateral.
They are used to pay off high expenses like outstanding payments, expenses incurred for higher education, for purchasing a house, for wedding expenses, for renovating your house and so on. You can borrow an amount that ranges from 200 to 25000. On the other hand, you are also expected to repay the amount within a period of 1 to 10 years.
To enjoy the benefits of this service, you should fulfill the following eligibility criteria.
An applicant should be a citizen of UK.
He should be a major i.e., 18 years of age and above.
It is very necessary for you to have a fixed job with a regular income.
He should also have a checking account with the Bank.
With the accessibility of this scheme, you can now pay off your finances in installments. People with bad and good credit score can also avail this facility. In secured form, you are approved with a low rate of interest.
The borrower is charged with a high rate of interest in unsecured form. Nevertheless, he must repay the borrowed amount along with the interest on time. You can now avail finance with the help of online mode rather than the traditional mode. With this service you can have easy access to an advance. You just need to fill the online form with the relevant information; the lender will then carry out the formality and will approve the amount to your bank account.
