Do you have bad credit and are in need of cash? If yes then the solution is available with one of the many loan brokers in the country. These loan brokers can help you get 12 month loans in spite of having bad credit. A 12 month loan is a short term loan and has to be repaid within one year. If however, for some reason you are unable to repay the loan on time, then you can approach the loan broker and they will act as mediators between you and the lender in order to find a solution that is mutually suitable.
Why lenders provide loans to people with bad credit
As mentioned above if you have bad credit then you should approach a reputable loan broker. These loan brokers have tie-ups with many specialist lenders. These specialist lenders do conduct a credit check because it is mandatory according to the regulations of the Financial Control Authority. However, they do not take your credit score to be the only decisive factor for approving a loan. Instead they look at other factors like your current ability to repay the loan. They analyse your income and expenditure per month and then decide whether you will be able to repay the loan. As a result it is possible to get 12 month loans bad credit no guarantor.
Loans for unemployed people
Just like the people who have bad credit and no guarantor, the loan brokers can also help you get 12 month loans for unemployed. Here you need to bear in mind that if you have bad credit, no guarantor or are unemployed then the lender is taking a higher risk by giving you the loan. This is the reason that they charge a higher rate of interest. However, if you apply for the loan through loan broker, then they will get you the loan at a reasonable and affordable rate of interest.
In spite of the mediation by the loan broker the rate of interest on such special loans is usually high. This is the reason that you should take these loans only if you really need them and in case of financial emergencies. It is not a good idea to use the money of these loans for frivolous expenses. In fact you should also be careful about the amount of loan that you take. In this case the financial advisers employed by loan brokers can come to your aid. They will analyse your financial situation and then advise you regarding the amount of money you should take as loan. In this way you will be assured, that you do not end up in a worse financial situation, than before.
The best part about opting for loan brokers is that you do not have to visit the physical office of either the lender or the broker. The entire process of application and approval is online and you can get the approval in as less as half an hour. Once the loan is approved then the money is also immediately transferred to your account. This makes the entire process very convenient and hassle free.
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