Financial problems approach without invitation. To overcome such problems you occasionally do not have enough money. This makes the situation bad. Hence you need not worry, because loans for bad credit can fulfill all that you want. These loans typically have a very high rate of interest. Bad credit loans are available as secured and unsecured forms:-
In the secured form, the borrower has to place his assets as collateral against the finance to avail. The lender then has some guarantee of the money being arrived back and hence, he can charge a lower rate of interest on this advance. You can avail the finance amount ranging from £500 to £100000 and the settlement tenure stretches from 1 to 25 years.
In the unsecured form, the lender does not necessitate any sort of security or collateral to approve the credit. Due to non-placement of security, the lender charges a reasonably higher rate of interest. The loan amount ranges from £1000 to £25000 and the compensation tenure stretches from 1 to 10 years.
Eligibility criteria:
The borrower must be a citizen of UK.
The borrower should be above 18 years of age.
The borrower must have a stable job.
The borrower should earn at least £1000.
The borrower must have an active bank account.
You can apply for bad credit loans by using the online method. The application forms are easy to fill out and are eagerly available through websites.
