subject: Adverse credit loans-Designed for the poor creditors [print this page] Adverse credit loans are specially designed for the people who hesitate to go for any loan due to bad credit scores. The bad credit ratings include arrears, defaults or bankruptcy. Bad creditors can avail these loans without any hassle. There is no credit check and no verification of credit history. Lenders are not interested in knowing your credit status. With the help of these loans, you can fulfill all the needs like paying off previous debts, credit card dues, electricity bills, medical expenses, etc.
Adverse credit loans are accessible in two forms, secured and unsecured form. If you are in need of huge amount and have the ability to pledge any collateral security against the borrowed amount, you must go for secured form of these loans. With these loans, you can avail the amount up to 75000 pounds for the repayment tenure of 1 to 25 years. On the other hand, if you are a tenant or non-homeowner, you can go for unsecured form. In these loans, there is no requirement of pledging collateral security. Through these loans, you can avail the amount up to 25000 pounds for the repayment term of 1 to 10 years. These loans have higher rate of interest with comparison to secured form.
Some conditions must be fulfilled by the borrower to avail these loans without any hassle, such as:
The borrower must be a permanent citizen of UK.
The borrower must be at least 18 years of age or above.
The borrower must have a permanent job with a steady income of at least 1000 pounds per month.
The borrower must hold a valid and active bank account in his name.
If you do not have time to stand in long queues in lender's office for the application of these loans, go for online method.
Adverse credit loans-Designed for the poor creditors
By: Karen Flec
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