12 Month Loans - Ideal Solution for Unemployed or Bad Credit Situation

by Carol Adams Financial Adviser

You definitely look for a financial assistance to overcome some unexpected financial troubles. There is no need to look further, as the UK lenders bring many lending choices for the borrowers. The 12 month loans may be looked as that source where borrowing desired amount is not difficult at all. Over the years, these loans have gained popularity due to the convenience of applying as well as availing funds. Another important point is that people can apply for these loans in any situation, whether they are unemployed or have a bad credit score.

No valuable asset or bunch of documents is required. Borrowers just need to assure the lender about the timely repayments and they have funds in their bank accounts on the same day. Availing 12 month loans for unemployed from direct lenders does have several benefits to utilise and some of them are explained below:

Loans with No Limitation

The lender definitely wants to clear the purposes of applying for loans from the borrowers. But, it does not restrict them by any means. They can use the funds in the best possible way to fulfil their requirements like car repair, home renovation, pending credit card payments and many more.

Flexible Repayment Plans

The repayment period is utterly simple and flexible that permits individuals to pay back loans as per their convenience. You can repay the applied sum in easy monthly instalments. Direct lenders also allow you to repay early if possible. In most of the times, they do not charge any penalty on the early payback of loans.

Fast Approved Funds

The 12-month loans for bad credit with no guarantor from the direct lenders are the healthier solution for all the issues that appeared due to job loss. You have a chance to get adequate funds despite bad credit score, and the lender does not ask for the backup of a secondary borrower. If you really follow the application process sincerely and ensure the lender for on time payments then you might get fast approval on applied loans.

All credit scores are acceptable

Those jobless people, who have bad credit history, can also apply for loans without facing any problem. Most of the time, direct lenders follow the soft credit check process to provide these loans. This process does not let the loan application rejected just because of poor credit scores. Now it is simple that anyone can get required loans from the lenders as they welcome borrowers irrespective of their credit score.

Competitive Interest Rates

Lenders generally put higher interest rates on the loans, but still they might agree on at least competitive rates only in specific condition. Providing collateral may force lender to cut down the interest rates up to some extent.

Straightforward Application Process

The online tool appears as a suitable way for availing 12-month loans for bad credit people with no guarantor during unemployment. By applying online, you have a chance to attain the funds with fewer documentation hassles. There is no place for upfront and hidden charges as you can get all information regarding loans on the website, uploaded by the direct lenders. Moreover, you can also directly approach them in case you feel any doubt. They do not charge any fee for loan consultations.

Whenever you have need of quick cash and you do not have any regular income, these 12-month loans for unemployed people are the right solution to end your financial problems that perfectly fits in your challenging condition!