subject: Unsecured Loans Bad Credit: A Big Financial Help [print this page] Unsecured bad credit loans are better than other loans as they do not demand any collateral and credit check to avail the loan. Lender will not ask for the credit history so the borrower does not have to worry about the credit check. These loans are best for those who do not anything to put as security against the loan such as car or property.
Tenants and non homeowners can avail these loans very easily as these loans do not demand any credit check and no collateral is demanded. So these loans are beneficial for these people. Usually home is kept as collateral but in these loans it is not so. Tenants and non homeowners do not have home of their own so they can opt for the unsecured bad credit loans easily.
As no security is demanded so the rate of interest for the unsecured bad credit loans is high. The loan amount for these loans is from 1,000 to 25,000 for a period of 1 to 10 years. Borrower can use the loan amount for various purposes like renovation of the home, debt consolidation, fees of the school or college, room rent, traveling, wedding, etc. But to avail these loan s one has to fulfill the following criteria:
Applicant must attain the age of 18 years or above;
Applicant must be the citizen of UK;
Applicant must doing a steady job;
Applicant must have a valid bank account in any bank of UK.
It is up to the borrower that by which source he/she can apply for the unsecured loans bad credit. Online is the best method to get these loans. Borrower must provide the essential information to get the loan. These details are name, age, gender, contact number, address proof, account number, etc. These details are necessary for the instant approval of the loans.
by: Nick Knight
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